TeleEMG – Dr. Joe Jabre
The idea behind Dr. Joe Jabre’s winning business plan for TeleEMG first came out of Professor Pete Russo’s Starting New Ventures class. As Chief of Neurology at a Boston Hospital, Dr. Jabre had never written a business plan and Prof. Russo’s class presented the opportunity to develop an idea that he had been thinking about for quite some time.
“As a Neurologist at a teaching hospital, I was constantly training residents during their neurology rotations,” he recalls. “With only a limited time to train them, I thought of new ways to set up a procedural program that would allow them to practice on their own. So, I set up a system to train the residents and students.”
At the end of their rotations, the residents would invariably ask Dr. Jabre for a copy of the program. He knew he might be onto something so he decided to build out a business plan and test its viability by presenting it at various business plan competitions. Dr. Jabre began entering (and winning) business plan competitions around the country, but the turning point for him and TeleEMG culminated with ITEC.
“When I first started the process, I had no plans for this to take off as a business. My primary concern was to pass the class. But the reception my idea got at the various competitions got me to ponder whether I should begin to market it,” he says. “The last place I presented was at BU, and after winning there, I started to really consider launching this into a business.”
Shortly after winning ITEC, Dr. Jabre’s web-based neurology software, TeleEMG, was officially launched. The initial business model behind TeleEMG was based on the changing ecosystem of healthcare specialists. With access to new technologies and treatments, primary and family care physicians have evolved from non-specialists to subspecialists. The system developed by Dr. Jabre allows these subspecialists to conduct immediate procedures in order to decide whether they could treat their condition or need to refer patients to more specialized physicians such as neurologists.
“Pete Russo taught us that a business plan should be realized every six months. Based on my experience, that is most certainly true. There are a market forces that you cannot predict and in order to keep the business viable you need to constantly adapt and be open to pivoting your business in order to appropriately position yourselves in the market.”
For more information on TeleEMG, visit: http://www.teleemg.com/.