when he assumed the role of CEO In November 2021, Joe Gaske knew it would be a balancing act.
He sees his role as helping sustain the company’s rapid growth while creating a framework to build on the good foundation and success the business has enjoyed.Accelerate your company’s next phase of growth by developing a strategic, cultural and operational framework
future.
“Having a solid foundation at MedShift is definitely a constant focus for us,” said Gasque, who brings more than 20 years of experience in leadership roles at GE Healthcare to his position at MedShift. He started his career in the chemical industry but turned to healthcare out of a desire to help others.
Joe Gaske
Founded in Charlotte, North Carolina in 2015, MedShift is uniquely positioned in the rapidly growing beauty industry. The company serves surgeons and practitioners, as well as medical device and injectable manufacturers. For practitioners, the company offers a subscription model that provides access to equipment and products — often discounted — and a suite of services to support them, Gasque said. Because MedShift is vendor agnostic, practitioners know they can trust the company’s solutions.
At the same time, the subscription model helps practices reduce costs, allowing them to focus on growing their business, Gasque said. “This is very valuable for practices that are expanding because they want to use their balance sheet to drive their expansion rather than buying equipment. The subscription model allows them to do that.”
For manufacturers and distributors, MedShift is a key customer and service provider. The company’s solutions include fleet utilization, remote software updates, and the ability to monetize data by tracking device usage in the field through patented Internet of Things (Internet of Things) technology.Another offering is built around an enterprise SaaS platform to digitize manual processes and empower customers
Experience, i.e. e-commerce platforms, payment facilitation, financial reporting and sales enablement.
MedShift partners include Merz Aesthetics, which offers differentiated toxins and a comprehensive portfolio of injectables, medical devices and skincare products. MedShift’s targeted approach has helped Merz reach more than 900 dermatologists, estheticians and other professionals across the North American cosmetic market. “Our expanding relationship with Merz Aesthetics has accelerated rapidly over the past year, allowing us to create more value for clinicians in the injectable space,” Gaske said.
Another partner is a large breast augmentation company. The company’s e-commerce platform, developed by MedShift, allows clinicians to order implants online, pay invoices and register implants with the U.S. Food and Drug Administration. The platform also processes payments and facilitates shipping. Customer value is a seamless experience. For manufacturers, the value lies in the speed from order to cash and from paper processing to fully automated processing.
“We’re the front door for OEMs and distributors with our enterprise software-as-a-service solution, but it’s white-labeled so it’s seen as an OEM’s own platform that enhances the experience,” Gasque said.
It’s a front door and more people are knocking. The market for aesthetic innovation improvements is growing rapidly, especially with the popularity of non-invasive procedures, Gasque said. Stigma is also fading, especially among young people and men.
MedShift has benefited from this, being recognized as the No. 5 fastest-growing medical technology company in the United States in Deloitte’s Technology Fast 500 ranking. The company has added seven people since Gasque’s inception and expects to add 10 by spring 2023. Revenue also dominates, with year-to-date figures trending toward another year of 100%+ year-over-year growth.
For Gasque, the main challenge was maintaining the company’s entrepreneurial culture while laying the foundation for continued growth and continued focus on the Medshift team and customers.
“Our founders Brian Phillips and Lisa & Porter Tiller are extremely innovative and agile in continuing to find creative solutions to key challenges in aesthetics. So my focus is on how to add value to an already great team every day, ” said Gasque, who relies on his leadership experience at GE Healthcare. The company emphasizes the ability to manage growth and change across multiple dimensions.
At MedShift, Gasque focuses on attracting, retaining and developing teams, defining roles and responsibilities, and establishing key metrics that will ensure the company is on the cutting edge.
“We’ve really been building the right leading indicators that will help us manage and grow our business every day.”
It also needs to focus on the bigger picture of the company’s mission and purpose, Gaske said. “This means clearly defining for every MedShift teammate why we exist, our core values and how we achieve our goals as a collective team. In doing so, I believe the best is yet to come.”
