"Every innovation is a piece of the puzzle that moves our communities forward" with Monica Stynchula
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Monica Stynchula is the CEO and founder of REUNIONCare Inc., located at the Innovation Lab @ Poynter Institute in St. Petersburg, Florida. REUNIONCare is a healthcare provider portal connecting doctors, agencies, and community-based services into one central communication without an expensive electronic health record system.
Ms. Stynchula is also a member of the AARP Florida Executive Council and serves on the Florida Agency for Healthcare Administration Telehealth Advisory Council to craft recommendations for Florida’s first telehealth law.
Additionally, Ms. Stynchula serves as the Program Director of the Caregiver Accelerator, helping new companies enter the $72 billion caregiving marketplace. In 2016, she was a featured speaker representing the USA at the Seoul 50 Plus International Forum in Seoul, South Korea. Further, Ms. Stynchula is a member of the Tampa Bay Bold Goal Elder Hunger Task Force.
She is a graduate of the USA Office of National Coordination HITECH health information specialist program.
Can you tell our readers about your background?
Sure, I have always been in healthcare. I have an MSW and MPH from the University of Pittsburgh. I have two sons who I homeschooled. I retrained in health information technology in 2010 to upgrade my skills and return to work full time. Then I became a long-distance caregiver for my father living one thousand miles away. I found my new passion to build the right technology platform so that family members the best communication tools and access to information.
What inspired you to start your business?
I am a dreamer and risk-taker (I homeschooled my kids without an online curriculum). I wanted to grow a business that disrupted caregiving. I got involved with Health 2.0, AARP, Encore, and HIMSS. My retraining through the ARRA Health Workforce Retraining Program laid the groundwork for me. ONC held an invitation-only Health Innovators event after Health 2.0 in 2012. That was incredible. I knew I had found my tribe through this event. Technology and data sharing were the right tools for my model. I was hooked.
Where is your business based?
I own REUNIONCare, a certified female-owned business in St. Petersburg, Florida. REUNIONCare targets care management and long-term care insurance products working with caregivers, home-based care, and community-based organizations that use today’s online technology to improve care. It allows you to use your web-enabled smart devices to engage with your trusted partners from any setting. It is a portable, responsive communication platform ready for you 24/7.
How did you start your business?
The first thing I did was read.
The Lean Startup by Eric Reis
Turning Silver Into Gold by Mary Furlong
Meeting the Challenge of Disruptive Change by Clayton Christensen
What were the first steps you took?
I wrote my problem statement then set out to diagram a solution and my target market. My oldest son is an iOS engineer-- he told me I had to write out each step. I still have the original three-ring binder from that process. After that, I hired a technology consulting company to build my specification document and wireframe. That was a tedious but beneficial process.
What has been the most effective way of raising awareness for your business?
Oliver Wyman collaborated with the Tampa Bay Economic Development Council to create a movement called MediFuture. The timing of this was perfect for me. I networked with the development team and attended every MediFuture event with enthusiasm. I volunteered for AARP Florida on their Executive Council and networked with AARP thought leaders. This really raised the profile of my business.
What have been your biggest challenges and how did you overcome them?
REUNIONCare remains a woman-owned company. However, I have experienced the skepticism from investors and major players on my credibility to be a technology innovator. I am not alone. I know from my work on the SBA National Women’s Business Council that many female founders are facing the same struggles as I do. You see women in Science, Technology, Engineering, and Mathematics (STEM) continue to be second class citizens when it comes to industry opportunities. Our work at NWBC will change this for future women business owners. I chair the STEM committee.
How do you stay focused?
How can I not stay focused? The job is not done yet. I will continue to advocate and innovate to get family caregivers and all those who help vulnerable people live with dignity and joy. We have got to create a 21 Century care system that we can afford and want. My job is not done until I see this in action.
How do you differentiate your business from the competition?
Medline Industries liked our model and invited us to work with them on caregiving. We now have CreditForCaring where family members, home care, and other home and community-based organizations can get the resources they need for writing effective care plans and shop for the products and equipment to accomplish the goals of this plan. We use the data to benefit the family and vulnerable people who want to remain in the community and not in a facility.
Most of the innovation in this space targets the insurance reimbursements as their value proposition. That means that providers and facilities hold all the data and share it only when pushed with family caregivers and home and community-based service providers. This is finally changing now that the Centers for Medicare and Medicaid is addressing the social determinants of health (SODH) as essential for reducing healthcare costs. This is our sweet spot.
What has been your most effective marketing strategy to grow your business?
I believe the best marketing is building channels and selling B2B2C. I believe in the multiplier effect where all companies can win by working together.
What's your best piece of advice for aspiring and new entrepreneurs?
Do it. Find your passion. There are lots of problems to solve. Every innovation is a piece of the puzzle that moves our communities forward. Imagine how boring life would be if dreamers stop dreaming. If inventors stop inventing. Also, success rarely comes with the first idea. I started two businesses before REUNIONCare. Each was a learning experience that helped move me forward. I am not alone. Most entrepreneurs have this same tenacity.
What's your favorite app, blog, and book? Why?
All of Clayton Christensen’s work is my favorite, I can’t get enough. Even after his passing, his work remains relevant to me.
What's your favorite business tool or resource? Why?
Asana. Simple. Great price point. Keeps our team on track in these days of remote working.
Who is your business role model? Why?
The team at Livongo lead by Glen Tullman and Lee Shapiro. Not only are they highly successful at solving the teenage diabetic compliance problem but they broadened their vision for remote monitoring and data sharing. In fact, Lee Shapiro was there for me when I was just starting out offering me advice and connections. I have followed their meteoric rise with envy and pride.
How do you balance work and life?
Not well. The pandemic increases the urgency to grow our model now that more families are moving their loved ones out of nursing homes and assisted living facilities back to their homes. I try to commit one weekend day to a device-free day.
What’s your favorite way to decompress?
I loved to go hiking. Nature is my cathedral. Secondly, I practice the piano every day to unwind.
What do you have planned for the next six months?
Besides my work building CreditForCaring by REUNIONCare, I am so excited about the work we do at the National Women’s Business Council. We just released a study Women’s Inclusion in Small Business Innovative Research and Small Business Technology Transfer Programs. We have lots of work to do to create opportunities and exposure for a woman in STEM to engage with all the federal departments. Our NWBC Stem committee has lots to do to network women business centers, universities, secondary schools, SBA, and all the organizations who can assist in more women getting these awards.
How can our readers connect with you?