Next 2018: Dan and Ashley Rice offer 24/7 vascular access services at a fraction of typical cost
PHOTo / Tim Greenway
Dan Rice is CEO and his wife, Ashley, is chief administrative officer of the medical startup New England Vascular Access in Farmingdale.
Husband and wife Dan and Ashley Rice met in the U.S. Air Force and started New England Vascular Services in June 2017. Dan is a registered nurse who went through the Army's anesthesia program, while Ashley is a chiropractor. Today their business relies on 15 clinicians with two more in training and averages 200 monthly service calls in Maine, New Hampshire and Vermont. Large customers include MaineHealth hospitals, Mayo Regional Hospital, Reddington Fairview General Hospital and Maine Veterans' Homes.
Mainebiz: How does running a business compare to your military experience?
Ashley Rice: The military lifestyle was more of a controlled experience for me. When a task was to be accomplished, you were guided by a set standard. Being an entrepreneur is much different — anything you want to make happen you can without the need to face the standard. The exciting part is figuring out how to make it happen. Thank goodness we had each other to bounce ideas around and a great program [Entrepreneur Bootcamp for Veterans] to help us build a brand and network to keep our vision moving forward.
Dan Rice: There are always ups and downs. My military background helps us continue to operate when things are tough by responding appropriately based on our training and not focusing on the things that are out of our control.
MB: How do you pitch your services to hospitals?
DR: We focus on our excellent patient care record and highlight the cost savings benefits of using our services. The primary gain to the hospitals is that we offer 24/7 vascular access services at a fraction of their current cost and without the overhead expenses they incur to maintain this in-house.
MB: What's the hardest part of finding and retaining talent?
AR: There is a shortage of nurses in Maine, which makes finding someone who is looking for something flexible difficult. The clinicians we work with are highly motivated people and that makes a big difference. Our management team has been with us as clinicians since we started — their drive, excellent work ethic and people skills made them natural candidates for management.
MB: What's next for New England Vascular Access?
AR: It is important to not grow too quickly. Our concentration for the coming year is growth within the states we currently cover. Collaborating with facilities large and small promotes continuity of care among the New England region.
DR: This coming year our focus is on helping large facilities and hospital groups improve their patient outcomes while decreasing their cost. The larger the volume, the easier it is for us to drive down the cost for facilities compared to what they are currently spending.
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