Chad Price, an entrepreneur with a heart for innovation and a passion for community service, has reshaped the healthcare industry through his leadership of Mako Medical Laboratories. Founded in 2014, Mako Medical was born from a vision to improve laboratory testing and healthcare delivery, offering a customer-first approach that prioritizes quality and compassion. At the heart of Price’s mission lies a commitment to value-based care, a healthcare model that shifts the focus from volume to value, emphasizing better patient outcomes and cost-effectiveness.
In North Carolina and beyond, Mako Medical has made waves as a disruptive force in healthcare, merging cutting-edge technology with an unwavering dedication to community impact. The company’s evolution from a small startup to a recognized leader in diagnostics reflects Chad Price’s unique ability to marry innovation with compassion, ensuring that both patients and communities benefit from every advancement.
The Genesis of Mako Medical
Mako Medical Laboratories began as a bold response to a critical gap in the healthcare system. Chad Price, alongside his brother and a close friend, identified inefficiencies and limitations in the existing laboratory testing landscape. With only two dominant players in the U.S. lab testing market, Price saw an opportunity to create a third option—one that prioritized accuracy, speed, and a superior client experience.
Starting a healthcare company without a medical background might have seemed daunting, but Price’s entrepreneurial spirit and dedication to learning allowed him to navigate these challenges. Early on, the company focused on understanding the specific needs of healthcare providers and patients. Mako Medical tailored its services to meet those needs, creating a trusted resource for hospitals, clinics, and individuals.
Chad Price’s vision went beyond simply addressing market gaps; he sought to build a healthcare model that placed people first. This philosophy was a natural precursor to the company’s embrace of value-based care, an approach that rewards providers for improving patient outcomes rather than the number of services rendered. By prioritizing quality over quantity, Mako Medical has set a new standard in healthcare diagnostics.
The Core Values Driving Mako Medical
Under Chad Price’s leadership, Mako Medical has been guided by a set of core values that emphasize innovation, compassion, and community. These principles are woven into every aspect of the company’s operations, from the way employees interact with clients to the development of groundbreaking diagnostic technologies.
Mako Medical’s commitment to community is particularly evident in its philanthropic efforts. A significant portion of the company’s profits is allocated to local charities, missionary work, and support for military veterans. This dedication not only strengthens the company’s ties to the communities it serves but also embodies the spirit of value-based care by prioritizing people over profits.
Compassionate care is not just a tagline at Mako Medical; it’s a driving force. Whether it’s ensuring rapid turnaround times for critical test results or extending services to underserved areas, the company’s actions consistently reflect its values. These efforts build trust among patients and providers, reinforcing the belief that healthcare should be a collaborative and empathetic endeavor.
Innovation and Technology at Mako Medical
From its inception, Mako Medical has been at the forefront of healthcare innovation, leveraging technology to redefine diagnostics. Chad Price recognized early on that speed and accuracy were paramount in medical testing, particularly as 70% of clinical decisions depend on laboratory results. To meet these demands, the company has invested heavily in advanced technologies such as AI-driven analytics, automated sample processing, and robotics.
One of Mako Medical’s standout innovations is its mobile testing units, which bring critical diagnostic services directly to underserved communities. By eliminating the barriers of distance and transportation, these units exemplify the company’s commitment to value-based care, ensuring that even the most vulnerable populations receive timely and accurate testing.
The rise of telehealth has also presented new opportunities for innovation. Mako Medical has embraced this trend by exploring home testing kits and remote sample collection, allowing patients to access healthcare services from the comfort of their homes. These advancements not only improve accessibility but also align with the goals of value-based care by reducing costs and enhancing patient satisfaction.
Transitioning to Value-Based Care
One of the most transformative aspects of Chad Price’s vision for Mako Medical is the company’s steadfast commitment to value-based care. In contrast to the traditional fee-for-service model, which incentivizes providers based on the volume of services rendered, value-based care focuses on the quality and effectiveness of care delivered. This approach ensures that patients receive tailored, outcome-driven services that address their specific needs.
Chad Price and his team have woven value-based care into the fabric of Mako Medical’s operations. For instance, the company’s investments in technology, such as AI-driven diagnostics and automated systems, help improve the speed and accuracy of testing while keeping costs manageable. This focus on efficiency not only benefits patients but also empowers healthcare providers to make informed decisions more quickly, leading to better overall outcomes.
In North Carolina, where rural communities often struggle with access to healthcare, Mako Medical has been a game-changer. Mobile testing units and home collection services are direct manifestations of the value-based care model in action, breaking down barriers to access while maintaining the highest standards of service. These efforts demonstrate that value-based care is not just a theoretical concept for Mako Medical; it is a guiding principle that shapes every decision the company makes.
Philanthropy and Community Engagement
At the heart of Chad Price’s leadership is an unwavering dedication to giving back. Mako Medical’s philanthropic initiatives are not side projects but integral components of its mission. The company has donated millions of dollars to over 300 charities and nonprofits, ranging from local schools to global missionary efforts. By prioritizing social responsibility, Mako Medical exemplifies the spirit of value-based care beyond the clinical setting.
One of Mako Medical’s standout philanthropic efforts is its support for military veterans. The company’s logistics team is staffed exclusively by veterans, providing meaningful employment opportunities while leveraging their skills and dedication. Additionally, initiatives such as holiday giving campaigns, where the company donates to families in need, highlight Chad Price’s focus on fostering community well-being.
These philanthropic endeavors do more than enhance Mako Medical’s reputation; they create a ripple effect of goodwill that strengthens the communities the company serves. This approach aligns perfectly with the principles of value-based care, as it emphasizes long-term well-being and holistic support over short-term gains.
Mako Medical’s Recognition and Future Vision
Mako Medical’s innovative and compassionate approach has not gone unnoticed. Under Chad Price’s leadership, the company has received numerous accolades, including being named one of Forbes’ Best Startup Employers and earning a spot on Business North Carolina’s Top 125 Private Companies list. These honors are a testament to Mako Medical’s impact on the healthcare industry and the communities it serves.
Looking ahead, Chad Price envisions even greater advancements for Mako Medical. The company plans to expand its technological capabilities, particularly in the areas of telehealth and remote diagnostics. These innovations will further enhance access to care, particularly for underserved populations in North Carolina and beyond. Additionally, Mako Medical aims to deepen its commitment to value-based care by developing new methodologies that improve patient outcomes while keeping costs sustainable.
Chad Price also sees education as a critical component of Mako Medical’s future. The establishment of Mako University, with its focus on training the next generation of healthcare professionals, underscores the company’s dedication to building a skilled and compassionate workforce. By investing in education, Mako Medical ensures that its impact will extend far beyond the laboratory, shaping the future of healthcare for years to come.
Pioneering a New Era in Healthcare
Chad Price’s leadership at Mako Medical Laboratories exemplifies the powerful intersection of innovation and compassion. By championing value-based care, investing in cutting-edge technology, and prioritizing community engagement, Price has redefined what it means to deliver exceptional healthcare. In North Carolina and beyond, Mako Medical serves as a beacon of hope and progress, setting a new standard for how healthcare companies can operate.
As the healthcare industry continues to evolve, Mako Medical stands poised to lead the way, proving that a patient-centered approach is not only possible but also essential for creating a healthier, more equitable world. Through its groundbreaking initiatives and unwavering commitment to its core values, Mako Medical is not just changing lives—it’s transforming the future of healthcare.
