CEO Dan Lambert Advises Company Leaders on How to Prepare for a Recession

The looming uncertainty of an oncoming recession is nerve-wracking for business owners. But recessions, although distressing, are not a new phenomenon. History is replete with unforeseen downturns in the economy that have taught us how to best prepare for such events.

In a recent Forbes article, Dan Lambert, CEO of PathologyWatch, explained how companies can prepare for and survive a recession. Here are the strategies he recommends:

Have a Plan that Can Pivot Quickly

With so much unknown in the future, it might seem difficult to come up with a plan. But Lambert asserts, “Whether a pandemic, a recession or a shift in your industry is to blame, business leaders need to have a plan in mind before it’s needed.” Even if it’s just a “best guess,” an imperfect plan is better than no plan at all.

Harness Various Types of Funding

Another best practice is to diversify your sources of capital. “Secure access to private equity, venture debt, collateralized credit, SBA loans, EIDL and PPP because these are all strategic options at the right moment,” Lambert advises. And it is crucial to focus on funding that will keep your company secure in the long term. 

Be Prepared to Scale Up and Down Quickly

Next, Lambert suggests that business owners should pre-identify essential and nonessential positions so that tough decisions can be made quickly if downsizing is necessary. Similarly, be prepared to create new roles when people need to be redeployed.

Gain Commitment, but Accept Disagreement

While some disagreement is a good thing for a healthy company dynamic, there can be a lot more disagreement during a recession, and having consensus is equally important. Make sure that, despite disagreements, you are able to get people to commit and move forward.

Dan Lambert points out that these strategies, in a way, involve reverting to a “startup mindset.” When the economy is unstable, this kind of agility is essential for a company to continue to prosper.

To read the full Forbes article, click here.

PathologyWatch Reinforces Roster of Dermatopathologists with Cacey Peters, MD

Cacey Peters, MD, joins the PathologyWatch team to strengthen the delivery of optimal patient outcomes.

“Combining diagnostic and communication skills with a vast knowledge of whole-slide imaging, Dr. Peters represents a valuable addition to our team of expert dermatopathologists,” says Dan Lambert, cofounder and chief executive officer of PathologyWatch.

Dr. Peters completed his residency in anatomic and clinical pathology at Tulane. His fellowship was in dermatopathology at the Ackerman Academy of Dermatopathology, and he is US-board certified in dermatopathology, anatomic and clinical pathology.

“Streamlining the diagnosis, turnaround time and overall efficiency for dermatologists is crucial to me,” said Dr. Peters. “Joining PathologyWatch will help me to deliver on these goals while also contributing to the team of talented dermatopathologists on challenging cases to benefit the clinicians we serve.”

Dr. Peters comes to PathologyWatch with years of experience promoting digital pathology as a tool to unite and educate both dermatologists and pathologists around the world. “Switching over to primary diagnosis on a digital platform is a dream come true,” said Dr. Peters. “Within my lifetime, I’ve no doubt digital pathology will take over 100% of the industry.”

For more information, please email [email protected] or visit pathologywatch.com.

About PathologyWatch
PathologyWatch is the groundbreaking leader of digital dermatopathology services. Through these services, dermatology clinics, hospitals and laboratories can improve operational efficiency by speeding up workflow and enhancing patient outcomes by utilizing the PathologyWatch expert professional team and laboratory services. This can facilitate best-in-class reads and, in some cases, enable additional revenue to the practice by in-housing pathology. With an intuitive and easy-to-implement digital pathology solution that includes access to top-tier dermatopathologists and a streamlined clinical workflow that interfaces directly into the EMR, PathologyWatch brilliantly combines state-of-the-art technology and clinical decision-making to deliver unprecedented patient care.

Dan Lambert, PathologyWatch CEO, Joins the Digital Pathology Place to Share PathologyWatch’s Success Story

Although healthcare providers have become accustomed to digital solutions in recent years, these solutions have only recently been introduced to dermatologists. But how much can digital pathology really do for dermatologists?

Dan Lambert, PathologyWatch CEO, recently joined Aleksandra Żuraw, DVM, PhD, host of the podcast Digital Pathology Place, to share how PathologyWatch’s quick, convenient, and comprehensive digital pathology solution is transforming the dermatology industry.

Here are some highlights from Dan and Aleksandra’s interview:

How does digital pathology empower dermatologists?

Dan: For the first time, the dermatologist is not only getting just a fax report over. They’re actually getting to see the case and see the area that the pathologist has highlighted. And now, also for the first time, a lot of our dermatologists are showing the case to the patient, showing why there’s going to be a procedure. . . . There can potentially be financial upside here, in that if the dermatologist is reading the case, it may increase the complexity of the visit. . . .

The second compelling factor for dermatologists is that because our system is integrated with their EMR, they’re typically saving, on average, about 25 hours per month, per clinic, not having to deal with organizing patient cases. And they really value that time savings. 

And then number three is simply better patient care. You’re less likely to have errors if the dermatologist can see the image and they can make sure it’s the right patient and the right case.

How do you stay ahead of the competition?

Dan: We’re deep into research on the AI front of trying to figure out how do you detect different tumors and skin conditions, and how do you make it really accurate so that it can be a true assistive device, or an assistive tool, for both dermatologists and dermatopathologists?

We’ve introduced some new staining techniques that aren’t used generally in other laboratories. We’ve also switched to fully automated equipment, and we’re not doing a lot of processes by hand that introduce variability. And that tight control of the process means true consistency. And then also a number of QA/QC processes that exist in our lab that do not exist in other laboratories, to make sure that those inputs are the best that they possibly can.

Did you have a failure that set you up for success?

Dan: We needed to be able to detect the edges of the tissue so that we can eventually do things like measurements. And so we introduced this green stain that would highlight the edge of the tissue, and it took us a couple of months of trying a bunch of different colors to try to capture this special staining. And the ink would get on other parts of the tissue, other colors would get washed out. . . . Working through some of those actual laboratory changes [was] very important. . . . We finally got a staining technique that works consistently on probably about 98% of tissue.

You won’t want to miss this intriguing interview! Click here to access the full podcast and learn more about how dermatologists can save time, improve communication, and provide a better patient experience by going digital.

PathologyWatch CEO Dan Lambert Discusses the Future of Digital Pathology on The DaVinci Hour Podcast

Digital-based services are transforming the dermatology industry, allowing clinics and patients alike to experience streamlined turnaround times and greater interoperability between healthcare providers.

At the forefront of these advancements, PathologyWatch is a full-service dermpath lab that effectively combines groundbreaking digital dermatopathology tools with the quality of customer care expected from a local provider.

Dan Lambert, PathologyWatch CEO, recently met with Dr. Maxwell Cooper of The DaVinci Hour Podcast to discuss the role of AI in current pathology workflows, the hurdles faced in the push for digital pathology, and the efficiency created by relying on these newer technologies. 

The full episode can be found here. These are a few of the highlights from the interview: 

Dr. Cooper: Tell us a little bit about PathologyWatch, like what was the impetus for starting it, and what . . . do you guys offer to dermatology practices?

Dan Lambert: We looked at this market and said, “How are we going to actually introduce the AI in a way that the market will truly adopt it?” And the more that we looked at it, it didn’t make a lot of sense to just develop the AI as a tool and then try to license it. It really needed to be a part of the laboratory, a part of the process, a part of the workflow of the physician. . . .

There are a few reasons why this process is so much better than what existed before. As you know, most [pathologists in residency] are using digital pathology to learn and study, and then they get out in the real world, and the industry is mostly microscopes and fax machines. . . . We’re replacing these very old systems with an entire end-to-end software process that takes out those fax machines, that takes out the microscopes.

A few very specific reasons why we’re growing so fast (we’re in about 70 dermatology clinics and we just started selling about two years ago): The first one is that there can be some potential financial upside for the dermatologist to view the case digitally because, even though we’re providing the primary console, if you look at the case on a secondary console, there may be potential opportunities for increased case complexity, for example.

Secondarily, it’s also just simply better patient care, but you now have both the dermatologist and the dermatopathologist or the general pathologist looking at the case. 

Other reasons: On average, we see about 25 hours of labor reduction in the dermatologist’s office because, instead of them having to deal with fax machines, we’re integrated with ModMed, EZDerm, and eClinicalWorks—all the major EMRs for our field. Going digital also enables a whole new world of being able to very easily send the case to expert consults anywhere or have your primary dermatopathologist be really anywhere in the world. And so it’s freeing up a lot of labor that otherwise would have had to be right there in the lab. I think all those pieces together make this really transformational, and that’s why we’re getting so much adoption very quickly.

Dr. Cooper: It sounds like you’ve really brought a significant amount of efficiency to what . . . previously was somewhat of an outdated process. I guess I’m wondering, as you know, physicians—and medicine at large—is resistant to change and cannot always be the best about adopting new technology or new ways of doing things. What were some of the hurdles or maybe some of the skepticism you received at first, and how did you convert those dermatologists that may have been skeptical at first to adopting your services?

Dan Lambert: Yeah, I think that’s really true. And I think those first two or three clients were so much harder than the last two or three clients. At this point, it’s very well validated, and I think everyone’s more comfortable using digital, and we don’t get as much pushback anymore. But I think early on, it was a question of “How do we know if digital is safe? How do we know that the scanner picked up all the tissue?” Actually, the scanners have really good controls in them, and we’ve fine-tuned the scanners over time to be really safe. We do use some redundant imaging to make sure that there’s not a piece of tissue that’s missing. And then also convincing the community that algorithms can really help detecting blurry spots or screening out things that happen inside the lab where the case really needs to go back and the slide needs to be redone. You know, a very common problem in pathology. . . .

[When all their conditions are aligned], they say, “Okay, you know what, I’m willing to give this a shot.” And they tend to not send all of their volume up front—they send a few samples, make sure they can see the digital, make sure that the quality of the reports is good and they’re definitive diagnoses. And then they start sending more and more; and I think that’s become a very common pattern.

I think, in general, pathologists are fairly resistant about being automated out of a job. I think that concern is in your field as well, in radiology, but we’re just not finding that. This is technology designed to assist and help go faster. Really excellent dermpaths are not going to be replaced by AI in the next few years, realistically. I think it’s an important concept to understand. Also, reimbursements are being cut; there does need to be ways to make pathology more efficient, and I think this is an answer, and the more-forward-thinking pathologists actually are really embracing this and getting involved. That’s exciting to see: that the community is moving things forward, too. . . . 

Dr. Cooper: What’s some of the positive feedback you’ve received from your clients? What have they told you [about] how this has changed their practice? How has this improved things? What are a couple of the positive comments you’ve received?

Dan Lambert: We actually have about 15 case studies—and for anyone that’s interested, we do share these case studies pretty openly. Our website is PathologyWatch.com. . . .

[One piece of feedback we’ve received] is improvement in the turnaround time because we’ve developed local laboratories in multiple locations. We’re getting really good turnaround. 

The second thing is the savings on just the time in the dermatologist’s office dealing with faxes or auto faxes—we’re eliminating a huge portion of that. We use enhanced interfaces that deliver the results directly attached to the patient record, so it’s a lot safer that way too. So you’re not putting the wrong patient record in the wrong chart. 

Also the ability to see the case—to see what the lab is seeing. That ability means that you can call up the pathologist, and you can both be looking at the case at the same time to discuss that case. In some ways, it has actually increased the amount of communication which has a lot of benefit to the patient. 

And then, overall, elimination of errors. Our labs certainly have a much lower error rate than general labs because it is software-based, and we do have patient identification controls that are better than other locations. So it’s a whole slew of benefits. . . .

I think that we can genuinely help a lot of practices move away from how it works right now.

Annual American Academy of Dermatology (AAD) Weekend Recap

Hosted in Boston, MA, this year’s Annual AAD convention—held March 25–29, 2022—promised more than a feeling: It marked a roaring return to in-person events for attendees worldwide. It felt good to be back among friends, colleagues, customers, and industry peers.  

This year’s event attracted over 13,000 guests to the Boston Convention and Exhibition Center, including 7,000 healthcare professionals. And the PathologyWatch team was there! 

Here are some of the highlights:

Friday, March 25 (Convention Day Arrives)

The show opened at 10 a.m., and we enjoyed a steady flow of traffic for most of the day, thanks to our premium location near the main Hall A entrance. Our booth’s design and messaging helped our representatives introduce dermatologists to digital pathology’s advantages.

PathologyWatch AAD Boston

It was refreshing to reconnect with colleagues and clients across the country. This included a visit from Dr. Roman Bronfenbrener, who stopped by to adore his larger-than-life testimonial banner. He picked it up after posing for photos and paraded it around other booths!  

Roman Bronfenbrener, MD

Roman Bronfenbrener, MD PathologyWatch

PathologyWatch hosted two events at this year’s AAD convention: First, we hosted a happy hour on the convention’s first night. Second, we cosponsored a private dinner with Castle Biosciences, which provided a unique opportunity to promote our technology, introduce our founders and clinical team, and connect with valued guests and customers before the convention ended.  

PathologyWatch

We selected City Tap, a nearby restaurant and bar, to arrange our happy hour event. The weather was perfect, and the private patio space worked really well. 

PathologyWatch happy hour

We set up a central station of food and beverages to encourage people to mingle freely. There was plenty of room for networking, with tables and chairs available for people who wanted to relax and talk after a long day on the convention floor.

PathologyWatch AAD 2022 happy hour

Soon, there were over 100 people engaged in dozens of conversations around the outdoor space. Our executive team and sales directors easily mixed in with the crowd, answering questions and bonding over hot wings and pizza. 

PathologyWatch happy hour AAD 2022PathologyWatch Happy Hour AAD 2022

Later in the evening, strings of outdoor lights brightened up the event and kept discussions going strong. The happy hour was a memorable and impactful part of the convention. We were able to get reacquainted with familiar faces and meet many new people.

PathologyWatch Happy Hour AAD 2022

PathologyWatch Happy Hour AAD 2022

Saturday, March 26

We developed the Digital Digest Quiz, a 12-question pathology test featuring digital slides on the PathologyWatch slide viewer to give people a reason to stop by the booth. Placing the video monitor at the front of the booth was visually appealing and created a simple segue to inspire conversations about our proprietary technology.

PathologyWatch AAD 2022

That evening, we gathered at Oceanaire Seafood Room for a cosponsored dinner with Castle Biosciences. We reserved a private room behind the bar that offered the perfect setting for an intimate meal with industry members

 

PathologyWatch Greg Osmond, MD

Even though it’s only April, it’s been an incredible year for PathologyWatch as we continue to expand our technology and services to support dermatological experts across the country. Thank you to all of our customers and partners who support us in our quest to innovate digital pathology and patient care.