Healthcare checklist: Operational readiness

Please review the suggested action items below which are covered in more detail in our White Paper on Operational Readiness for Healthcare Startups. Working with the best strategic partner in the early stages is instrumental in creating a sustainable growth environment and positive business outcomes for your organization.

checkmark Monitor the ever-advancing health ecosystem and regulatory landscape

Working with trusted partners to anticipate trends in your sector, including pricing models and go-to-market strategies, will set your innovations up for success from an earlier stage

checkmark Outline and adapt your business model regularly as market conditions continue to evolve

Creating unique selling propositions and delivering them through consistent branding strategies will establish credibility and will increase exposure within your specialty

checkmark Set up electronic payments and receivables processes early

Adopting or converting to electronic payables can reduce errors and fraud risk, help decrease payment-processing time and cost, and even improve cash forecasting

checkmark Monitor and protect your accounts

Safeguard proprietary and patient data with the latest in Cybersecurity defenses

checkmark Implement ERP and HR capabilities  

These capabilities can automate processes, enforce policies, create reliable data, and promote high growth enablement

checkmark Set-up a commercial card program

Implementing an integrated commercial card program preserves working capital, supports expense controls and enables auto reconciliation and identify exceptions.

checkmark Establish sales conduct policies

Enforce sales conduct policies to meet your customers' needs in an ethical and compliant manner

checkmark Data Governance Management

Establish a data quality policy to ensure the security and reliability of your proprietary and patient data

checkmark Protect your credentials   

  • Require multi-factor authentication (MFA) for all employees
  • To prevent Business Email Compromise (BEC), do not click on links from unknown senders

It’s never too early to start conversations that can help your be fully prepared for opportunities as they arise. Your bank can consult with you on your business planning to help scale your business quickly and efficiently.