The highly competitive health care industry can be overwhelming for an entrepreneur who wants to break into the field. A young startup might feel outmaneuvered and outgunned, but they should not feel hopeless.
There are entrepreneurs in the world who have created space for themselves in competitive markets, and they have come out on top. Their experience provides valuable insight as to how a small startup can make a big impact in any competitive field, not just health care.
Veer and Vinay Gidwaney are two such proven entrepreneurs, both of whom have served as C-level executives at DailyFeats and Control-F1, and directors at Neurosilicon. They cofounded Maxwell Health to redefine health care for small businesses by dramatically simplifying benefits, reducing insurance costs, and improving employee health.
“Anything of significant value is hard to build; it is tough to put all the pieces together,” says Veer. “But we keep working because we really, truly believe in Maxwell Health.”
Their first step toward early success is obvious, but crucial: define your mission and dedicate yourself to it. Getting your entire company passionate about that mission is necessary, and it helps you figure out how you will make an impact on the community.
“When we help people with problems, it is because of a bigger objective that we are all connected to,” says Veer. “We are motivated to set a new standard for everybody else in the industry.”
Maxwell Health has established a strong connection to their community by ensuring they provide a societal return. That is, by working to lower the health care costs of small businesses wanting to create and maintain a healthy environment for their employees, Maxwell Health is helping individuals attain healthier lives while saving money.
“Small businesses need to provide cost-effective benefits and a great experience for their team,” says Veer. “The reluctance on behalf of the health care industry to modernize their technology and service means that business owners, CFOs, and HR reps are forced to handle the confusion on their own.”
The services provided to your market must be top quality. Maxwell Health recognizes that navigating the healthcare system can be difficult, so they help companies find the best doctors for their employees. Also, if companies are not reimbursed for an insurance claim, Maxwell Health will adjudicate said claim on their behalf.
The early success Veer and Vinay have cultivated for Maxwell Health has nothing to do with luck, and everything to do with hard work, dedication, and smart planning. Their long-term goal is to permanently and positively change health care in America.
Veer believes that if the team keeps heading in the same direction, success is inevitable, offering us one final lesson to take home: never be afraid to dream big.
Maxwell Health was featured at Tech Cocktail’s Boston Mixer & Startup Showcase on August 27th.