50 Leading Companies of The Year 2020
The Silicon Review
“we have an entire team focused on building programs that enhance pur culture and make Mako Medical a great place to work”
As the technology behind robotic automation improves, robots are popping up in more and more unique places. Their ability to solve a wide variety of productivity problems in many different applications is constantly improving.
One of the more recent applications to be tested is the use of collaborative robots in laboratory settings, and the results are promising.
In light of the foregoing, we’re pleased to present Mako Medical.
Mako Medical is a healthcare company specializing in blood, genetics, and pathology testing solutions. The company serves as an industry leader in how laboratories should truly support patients and healthcare professionals.
Mako is led by doctors who specialize in methodology development and pathological services. The company offers state-of-the-art robotics to ensure accuracy and precision with each sample. Besides, each Mako laboratory is outfitted with the industry’s leading LC-MS/MS, chemistry analyzer, and enzyme immunoassay technology.
The company was established in 2014 and is based in Raleigh, North Carolina.
Chad Price: Interview Highlights
What services does Mako Medical do?
Mako Medical and Mako Medical Laboratories is a healthcare company focused on using technology to disrupt the laboratory and pharmacy industry. We tend to develop processes and procedures that are unique to the industry and the opposite of what the current competitors are offering.
What was the goal of starting Mako Medical and Mako Medical Laboratories?
The goal of starting Mako Medical was to create a company that would create a unique competitor in an industry that lacked options. Our second goal was to leverage our resources to make an impact in the communities we serve. Our entire team is focused on volunteering, helping with local non-profits, giving back, donating, hiring military veterans, and supporting many charities. It’s why we do it—not what we do—that makes Mako Medical so special.
How has Mako Medical been able to compete with such large well-funded competitors?
Our team focuses on every aspect of the patient experience. This helps our team develop processes that are unique and allows us to compete in areas that matter most to our customers and patients. We also leverage emerging technologies to disrupt how our services are delivered and consumed. With our Pharmacy program (MakoRx), transparency with pricing and access are the key factors we focus on. Like the travel industry—we are developing apps to tackle access and cost, making it easier for families to find the best price.
Besides, feedback has also played a vital role in our growth. We actively engage our customers in the process. Our team gets feedback and constantly adjusts our process to meet the specific needs of our customers and patients. This allows us to focus on every detail and be more flexible, customized, and efficient.
What is the culture like at Mako Medical and Mako Medical Laboratories?
Culture is extremely important. We have worked hard to build a company that recruits and attracts top talent. We have an entire team focused on building programs that enhance our culture and make Mako Medical a great place to work. We have always been focused on ‘why’ we do what we do and not the ‘what’, as mentioned above. Charities, non-profits, and hiring military veterans is also a key focus of Mako Medical and our team. We have internal programs that teach and mentor the military veterans employed at Mako Medical, and just launched Mako Cares—a program aimed at meeting the needs of our internal team.
How has innovation in healthcare changed the way you do business?
Innovation is key and in healthcare, it occurs fast. Many companies are struggling to embrace this rapid change; therefore, to implement these new technologies Mako Medical has invested by developing its internal tech team. This allows us to develop and design new ways through which customers can consume our services via Mako Medical and MakoRx.
Moreover, we have created a culture built on change and feedback, which allows us to create technology that our patients want and need. This will be our focus as we expand into new markets.
What are the biggest challenges Mako Medical faces in the future?
The biggest challenges are the unpredictability of healthcare; no one knows what’s coming next. It is always evolving and new technology is changing the way we interact with patients and customers. Staying ahead of these changes is vital. More services are also moving away from insurance and people want to access through their phones for their healthcare needs.
That said, our team plans on expanding into rural markets that lack access to quality healthcare. Our team is also committed to long term care and helping the aging population with new care models and better access within their home.
What are some of the milestones for Mako Medical?
Mako Medical has experienced rapid growth and has won many awards in this category. We set a record as the only company ever to win the ‘Fast 50’ three years in a row. We are also placed 284 on Inc. Magazine’s Inc. 500 list. Mako Medical has also won awards for quality, community service, and innovations in healthcare. Our team is also proud of all the good work Mako Medical has done by supporting local non-profits, charities, and hiring military veterans, as mentioned above. This has been fuel for our team and our growth. We are all passionate about helping others—this is what motivates us every day.
“It’s not ‘the what’ it’s ‘the why’ that has fuelled our team to become one of the fastest-growing healthcare companies in America.”