Lessons from Qliance closing its doors | stateofreform.com
The news that Qliance is closing its doors gives us an opportunity to reflect on the lessons learned from the enterprise. The direct primary care (DPC) model espoused by Qliance struck some folks as an important innovation in care delivery, one focused on bringing more primary care services to the patient.
DPC JOURNAL examines the TIMELINE | Reports confirmed … “Health care startup [Qliance, est 2007] will cease operations, June 1, 2017”
In watching the organization over the years, and in conversations with former investors, employees, and collaborators with the organization, I’ve culled together a few lessons from the Qliance endeavor.
- “Cash is king,” particularly in health care. Dr. Erika Bliss, CEO at Qliance, told Geekwire that the abrupt closure of the firm was a result of a lender making an unauthorized withdrawal of funds from Qliance’s bank account. This is painful for a business when it happens, but it is also not terribly exceptional. It’s the thing banks can do when they think their client is not likely to pay back existing debts. This action exacerbated an already existing financial strain on the company. They had a gofundme page up earlier this year, which wasn’t a great sign. The lesson for any organization, but particularly the highly capitalized organizations in health care, is to protect your cash position. Without it, your business is lost.