I recently went one-on-one with Joe Sardano, CEO of Sensus Healthcare.
Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would like to learn more about you. How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Joe: After spending my time working for some large companies in the imaging space, I sought the opportunity to run my own company. I had learned a lot from these organizations, and it was time for me to pair that with my desire to innovate and transform an industry. That’s when Sensus Healthcare was born, with the goal of bringing Superficial Radiotherapy (SRT) technology to the market to transform treatment options for patients with skin cancer. SRT from Sensus Healthcare is a non-invasive treatment option for non-melanoma skin cancer, with comparable cure rates to today’s standard of care, Mohs surgery.
Throughout our journey over more than the last decade, we have faced many challenges. Innovative treatment therapies like SRT face an uphill battle to offset an entrenched standard of care. There have been many perceptions and skepticisms that we’ve had to overcome to get here. In addition to changing the culture of dermatology, we’ve had to learn how to secure reimbursement coding to become a treatment of choice. Early on, we experienced pressures when the reimbursement codes would shift. This year, the CMS code changes included dedicated codes for this treatment. This significantly changes the landscape for SRT and the future of non-invasive treatment options for non-melanoma skin cancer.
Lastly, throughout this time, we had to shift from being a startup to a public company. In 2016, we went public. This, complemented by other market dynamics like capital expenditure volatility and supply chain challenges, required us to shift our business model internally to adapt to critical macro challenges.
Adam: How did you come up with your business idea and know it was worth pursuing? What advice do you have for others on how to come up with and test business ideas?
Joe: When I was ready to move forward with my own business, it was with an intention on focusing on an oncology solution. Specifically, landing in skin cancer brought back memories of my dad, who spent a great deal of time outdoors, and dealt with numerous cases on non-melanoma skin cancer in his 80s and 90s. Bringing a technology to market that would help him – and others like him – resonated. My dad endured many surgeries to remove his cancerous lesions. For someone of his age, it was detrimental in many ways. After doing the research on the business side, it was clear that the dermatology industry was primed for an innovative solution to improve patient care and reduce the focus on surgical options.
For others looking for a business idea, it’s important to find something that resonates with you. This, along with understanding the market and business dynamics, will make your business unstoppable. Building a business takes hard work and perseverance. Having a clear “why” keeps you going when things get challenging.
Adam: What are the key steps you have taken to grow your business? What advice do you have for others on how to take their businesses to the next level?
Joe: Over the years as we’ve grown, it’s been because we’ve focused on the market and understanding what it needs and why. Becoming highly educated about the reimbursement process helped us understand the coding process and what that meant to dermatologists, payers, and patients.
Understanding service requirements paired with ongoing research and development helps to open doors within the market. It’s not enough to come in as the innovator – you must continue to innovate and lead the market if you truly want to take your business to the next level. Much of this comes from understanding the market you’re in, the challenges that your buyers and end users face, and the opportunities for growth.
Adam: What are your best sales and marketing tips?
Joe: Regardless of the industry, a commercial strategy that focuses on understanding buyer motivation and building momentum from the bottom up will deliver significant results. We put this into action at Sensus Healthcare by launching an educational website called TreatSkinCancer.com. Because dermatologists default to surgical options like Mohs, trying to change clinical preferences through direct sales alone can feel like an uphill push.
By educating patients and caregivers about non-invasive options, we empower them to bring questions to their dermatologists and doctors. When the patient asks for non-surgical options, it creates organic demand that physicians cannot ignore. For any organization, understanding your buyer and their motivations will help to build a marketing engine that accelerates adoption.
Adam: What are the most important trends in technology that leaders should be aware of and understand? What should they understand about them?
Joe: In healthcare, there’s a different approach to technology compared to other industries. Healthcare leaders are only interested in proven technology, especially if it requires a change from the proven way that they do things – or deliver care – today. Because of this, it may require a shift in educating the market about the problem that the technology solves. This includes the proof, or the outcomes, to help unseat the traditional way of doing it.
Adam: In your experience, what are the defining qualities of an effective leader? How can leaders and aspiring leaders take their leadership skills to the next level?
Joe: Leadership starts with hiring the right people. Find the right people for the right positions. Determining the right fit does not stop with their skills for that role. Look for people who are willing to work, highly intelligent, and most importantly, willing to learn. Once you have the right people, as a leader, you need to provide them with the tools they need to excel at their jobs so they can grow and achieve their goals. Most importantly, you need to get out of their way.
Adam: What is your best advice on building, leading, and managing teams?
Joe: Most leaders think they need to tell their teams exactly what they want. I believe in the opposite. If I empower my team to take the lead and do what they do best, they will give me things that I’ve never dreamed of or asked for. That’s when innovation happens. I am proud of the team that we’ve built at Sensus Healthcare. We’ve focused on bringing in the right people for the right roles and supporting them so they can do their jobs well.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Joe: My dad always said to never be afraid of the truth. For anyone in business, this is true. From making a hiring mistake to underestimating the market to building the customer experience, coming to terms with the truth in front of you and dealing with resulting problems and opportunities becomes far easier rather than if you avoid it down the road.
Adam: What is the single best piece of advice you have ever received?
The best piece of advice that I’ve ever received, and what has been a north star for me in business and in life is: there’s nothing that can stop you from achieving your goal if you work hard for it and do the right thing.
