5 Questions with Goodroot’s Amplified Services Leaders
Jessica understands the challenges and opportunities of the healthcare industry from many points of view, especially the legal perspective, based on the experience she’s gained over her career. At Goodroot, Jessica is exercising her legal prowess, in addition to her leadership in the realms of professional development and culture.
Q: Could you elaborate on Goodroot’s “Amplified Services?” What does that mean to you?
A: Our Amplified Services team integrates individual skills and expertise—in legal, finance, marketing, IT and HR—to collectively maximize business success for the healthcare entrepreneurs who choose to build their business here. We provide an all-encompassing, seamless experience, essentially allowing the entrepreneur to focus on core objectives while we manage the intricate, day-to-day business operations in the background. In contrast to experiences in other organizations where silos between legal, sales or finance teams often create roadblocks, our team is entirely collaborative. We take a synergistic approach where the whole is undoubtedly greater than the sum of its parts. That’s what sets us apart. Our entrepreneurs have an experienced team of connected business amplifiers on their side, ensuring powerful—and fast—forward momentum.
Q: Can you highlight some common legal challenges that new healthcare entrepreneurs might encounter and how you provide support to avoid these issues, thereby reducing legal concerns?
A: The journey of healthcare entrepreneurship often begins with establishing your business entity. Many entrepreneurs may struggle with this first step, but our approach is to simplify: we typically advise setting up an LLC to minimize personal risk. One of the common pitfalls for new businesses lies in maintaining organization and consistency, especially when the excitement of gaining that first client takes over. There’s a risk of losing crucial documents or forgetting to keep up with insurance and other obligations. Therefore, establishing a well-defined, easily manageable system early on is essential.
In the healthcare industry, the need for that system is even more critical due to the potential for audits from the government or clients. Delayed responses or inadequate document management can risk losing clients or invite more serious legal consequences. By working with our team at Goodroot, healthcare entrepreneurs are guided from the start. We maintain a thorough record-keeping system on their behalf. We have an easily accessible repository for contracts, insurance information, and other critical business documents. Another common challenge that new entrepreneurs might face is dealing with trademark issues. At Goodroot, we advise on potential market conflicts, successfully resolving these issues quickly, and protecting our entrepreneurs from any legal backlash or risk. Many entrepreneurs who partner with us anticipate a lengthy process for legal turnaround. But because of our specialized knowledge and efficient approach, they are surprised and delighted to see that we can turn things around so much faster.
Q: What strategies do you employ to manage and mitigate potential risks and liabilities for entrepreneurs within the Goodroot community?
A: At Goodroot, we believe in the power of proactive risk management, and this principle guides our legal strategies. Armed with years of experience and an uncanny knack for spotting potential contract issues, our legal team operates as a safety net for entrepreneurs. We meticulously dissect complex contract language, identify areas of concern, and make the necessary amendments to prevent potential liabilities. This specialized scrutiny is a value-add to any entrepreneur who might otherwise overlook these intricate details. In our model, entrepreneurs can concentrate on what they do best – innovation and relationship-building. Meanwhile, we handle the behind-the-scenes legal work, liberating them from the burden of contractual minutiae and risk assessment. In essence, we provide the peace of mind every healthcare entrepreneur needs: the assurance that potential risks are being managed and mitigated efficiently and expertly.
Q: Given the complexity of American healthcare legislation, such as HIPAA, how do you ensure compliance for Goodroot and its entrepreneurial partners within this intricate framework?
A: Dealing with the complexity of U.S healthcare regulations, such as HIPAA, requires a diligent and proactive approach. At Goodroot, we’ve simplified this process into two key elements: establishing a robust compliance program and maintaining it consistently. Initially, the exchange of protected health information (PHI) was minimal within our operations, thus HIPAA compliance wasn’t a primary focus. However, as we expanded our partnerships with entities such as Penstock and Breez Health, handling PHI became more frequent, necessitating a solid compliance program. But our philosophy extends beyond mere compliance. We strive to uphold the highest standards of integrity and ethical conduct, both within Goodroot and affiliates. Our commitment to ethical business practices, combined with our robust compliance program, equips us to navigate the intricate framework of healthcare regulations confidently, ensuring the best for us and the entrepreneurs we serve.
With Goodroot’s commitment to disrupt the healthcare landscape, do you see a scenario where Goodroot’s influence might contribute to positive shifts in healthcare-related regulations?
A: Absolutely. We’ve been in talks with policymakers, and it’s evident that there’s a strong desire for reliable, insightful information. While there’s a wealth of data available, what’s often lacking is actionable guidance—something the Goodroot community is well-positioned to provide. Currently, we’re working with state legislators to bring medical debt relief to the people of Connecticut. By leveraging our domain expertise and analytical capabilities, we’re aiming to supply valuable insights and data to these discussions. At the very least, we intend to serve as a reliable source of information to aid decision-making. However, our ultimate goal is to establish collaborative partnerships with lawmakers. With our hands-on advisory role, we hope to influence policy decisions, steering them towards the most beneficial outcomes that put patients at the center. Our mission is to drive positive, transformative change in the healthcare sector.
