Dec 31, 2020
OVERVIEW:
Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with John Gorman, Founder and Chairman of Nightingale Partners LLC - the nation’s leading healthcare Opportunity Zone investment fund and consultancy. John talks about his early career helping poor performing companies turn their businesses around and how he built teams to accomplish this. He also discusses conducting large-scale healthcare interventions to help vulnerable communities and the investment opportunities for these outreach initiatives.
EPISODE HIGHLIGHTS:
- John started Gorman Health Group as a compliance practice, which evolved into operational fixes and eventually led to full scale assistance for distressed companies.
- Assemble a ninja squad to pivot and find solutions that will stick.
- John highlights a variety of turnarounds he’s overseen, including Excel Health, a medicare advantage special needs plan.
- John has been intent on building a massive network of people. When helping a business pivot and turnaround, it’s important to match up skill sets and personalities.
- Behavioral Economics is about the science of incentivizing people.
- The biggest motivators for smart people doing complex tasks is autonomy, mastery and a sense of purpose.
- As an entrepreneur, finding problems and forming solutions is your bread and butter.
- John put his retirement plans on hold when he learned about the IRS revamping regulations for the Opportunity Zone program.
- With this program, Nightingale Partners helps anti-poverty initiatives improve the quality of care for vulnerable beneficiaries and dramatically decrease their healthcare costs.
- Nightingale Partners is focused on sourcing partners and de-risking investments for anti-poverty initiatives, as well as bringing expertise to these intervention programs.
- The IRS’ revamped regulations allows investments in real estate purchases, leases and working capital.
- Nightingale Partners is working on a JV with Triple S and the Boys & Girls Clubs to help thirteen of Puerto Rico’s most notorious housing projects. THey are buying vacant land to put in a school, a workforce development center, and medical and social services clinics.
- Opportunity Zone maps are available through every state’s Department of Economic Development, as well as the Nightingale Partners website.
3 KEY POINTS:
- Always establish pre-conditions when going into a company. Find the right business model that works for you.
- With the Opportunity Zone Program, Nightingale Partners' mission is supporting anti-poverty initiatives and improving the way of life for its beneficiaries
- The changes in IRS regulations have opened up new opportunities for entrepreneurs and business ventures.
TWEETABLE QUOTES:
(The goal of entrepreneurship) “Meet an unmet need in the market, and find a way to monetize meeting that need in a way that works for you and your client.” - John Gorman
“Healthcare is the most fertile soil in the American economy for entrepreneurship.” - John Gorman
RESOURCES MENTIONED:
John Gorman on Linkedin - https://www.linkedin.com/in/john-gorman-098b265
John Gorman on Twitter - https://twitter.com/johngorman18?lang=en
Nightingale Partners LLC website - nightingalepartner.org
Nueva Verde Luz Wesbite - https://canna-b.com/directory/listing/nueva-verde-luz-llc
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