Interview with Dr. Fisayo Ositelu

In this week’s interview, Dr. Fisayo Ositelu explains how technology, including artificial intelligence (A.I.), can help save small group practices.

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Dr. Ositelu completed an MD and MBA, graduating from Stanford University with both degrees in 2013. Rather than attend a clinical residency, he chose to leverage his education by working in Silicon Valley. Using his medical and business training, he helped his first employer develop and sell products to healthcare organizations and financial institutions.

In June of 2019, he cofounded Gentem where he now serves as CEO. Gentem’s mission is to help physicians get reimbursed better and faster with less administrative cost. It does this by leveraging technology such as artificial intelligence, automation, and applied data analytics to streamline and accelerate the reimbursement process.

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We’re proud to have the University of Tennessee Physician Executive MBA Program, offered by the Haslam College of Business, as the sponsor of this podcast.

The UT PEMBA is the longest-running, and most highly respected physician-only MBA in the country. It has over 700 graduates. And, the program only takes one year to complete. 

By joining the UT Physician Executive MBA, you will develop the business and management skills you need to find a career that you love. To find out more, contact Dr. Kate Atchley’s office at (865) 974-6526 or go to nonclinicalphysicians.com/physicianmba.

The Classic Silicon Valley Approach

During our conversation, Fisayo explains how he followed the classic Silicon Valley approach to starting the company. 

I always wanted to be an entrepreneur. And at that time there was a lot of excitement about tech and it just made a lot of sense. – Dr. Fisayo Ositelu

He tapped into his network of investors, including former MBA program classmates, and identified a few key angel investors. And he explains in detail the start-up of his company, should we wish to emulate what he has done.

Revenue Cycle AI Saves Small Group Practices

Some employed physicians dream about returning to private practice. But the hassles of running a practice can be overwhelming. And if a practice cannot quickly bill and collect for its services, it will struggle to succeed.

Fisayo describes how his company is helping to save small group practices by improving their revenue cycle management and cash flow. Gentem has gone a step further, by offering some clients the ability to access current accounts receivable when needed, rather than seek expensive short-term loans.

Summary

Gentem and companies like it can simplify the business side of private practice. By making them easier to run, they might save small group practices.

NOTE: Look below for a transcript of today’s episode.

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