Physician Builder Spotlight: Ferdinando Mirarchi

We’re shining light on MD-entrepreneurs! Each week, we feature an entrepreneurial doctor who’s building a cool product, company, or working on a big idea that you definitely want to know about. This week, meet Ferdinando Mirarchi, Chief Executive Officer/CMO of MIDEO Health (more on the company’s mission below!). You can connect further with Ferdinando on LinkedIn.

1. Ferdinando, what inspired you to become a physician entrepreneur? I never planned on it. I saw a patient safety need when it came to advance directives and DNR orders and all of the horribly unreported medical errors that happened. Then, I started to do the TRIAD research and low and behold, an idea formed on how to do it more safely and in a way I believe is better. As we designed a TRIAD VIII study, the concept for MIDEO was formed.

2. Tell us what your company does and what problem you're trying to solve. MIDEO Health performs Advance Care Planning in a way that is both medically sound and patient-focused. We evaluate and medical risk stratify patients, and then create a prescription for their medical care that they desire. We utilize our proprietary platform called MIDEO to record the patient reading their prescribed advance directive and then make it transportable and available anywhere in the world in 5 seconds or less. We have taken advance directives into the 21st century, which is where patient safety requires us to be.

3. What's your advice to anyone who's thinking about entrepreneurship or a nontraditional career in medicine? Take a breath and brace yourself. It is not easy. Never give up your income producing job and never forget your family. You will experience hurdle after hurdle and your existing income and the love of your family will maintain and sustain you. Also, pick your battles. There will be so many naysayers and there will be times to battle vs. times to just navigate around them and find like-minded people to work with.

4. How can a physician overcome their biggest fear to start a company/organization? Look for mentors that have done it and succeeded to a degree. Plan for it. Plan for time and resources. Doing this will make the decision to jump in much more feasible. Lastly, plan your goal. Are you planning for purpose or a big financial outcome? It’s just my own experience, but those that have a plan based upon purpose tend to be able to withstand the hurdles better.

5. What's the #1 lesson you've learned since building your company that wasn't obvious to you before? You can’t forget your family. This is so important; you can’t get that time back. The number two lesson is that your family, no matter how much time you think you are giving them, will still feel the need to need you more.

6. How can other physicians support you? Lead by example and do your own advance directive with MIDEO. Then, tell a friend or family member to do the same and your patients as well. Paper advance directives and DNR order = patient safety risk. They equate with medical errors waiting to happen. As far as investment, we are always open to the right investors. If you are an investor who wants to make change and see gains both by impact and financially, then we’d love to speak with you. If you are an investor that can drive change then we want to speak with you. If you are an investor who just wants a 10X return, then we don’t want to speak with you.

If you are interested in learning more, you can reach out to Ferdinando and learn more about his company here.