CEO of the Year - New Jersey
The Macaluso Group ("TMG") is a technology and data driven company focused on pioneering co-pay and financial payment solutions. We invited CEO and Founder Joe Macaluso to provide us with a unique insight into the firm and the services it provides.
The Macaluso Group ("TMG") is considered a pioneer in the payments industry and was the first to utilize the financial payment networks for pharmaceutical co-pay programs. TMG has been deemed by our clients to be the Gold Standard in medical claims processing.
The majority of the firm’s work has been focused on the pharmaceutical space, where we have been creatively solving healthcare product marketing and regulatory compliance challenges since 2001. Through innovating with our clients and specialty pharmacies, we have developed solutions, that help alleviate the financial barrier for patients gaining access to their medication at the most opportune time of payment.
Many of our solutions have been built to support challenges that the healthcare industry has been facing. A recent example has been the challenge of ensuring that patients participating in co-pay programs, are not enrolled in state and federally funded programs. Several service providers have developed solutions to address this issue, however, based on the criteria that the Office of Inspector General (OIG) issued in September of 2014, these solutions do not seem to be fully viable.
Our firm has assessed this challenge over the last few years, related it to past solutions that we have delivered, and launched the Guardian Verification Solution. This unique real-time electronic process approaches this challenge in a very different way, and is fully compliant within our industry.
TMG’s overall mission is to build leading edge business solutions by creating the connective tissue linking best-in-class proven technologies, which, when seamlessly connected provide a totally new technological solution to a seemingly impossible to solve marketing obstacle.
I challenge myself and my team to think about how we may make extinct our current products and services through our innovations. This helps us to be aware of the marketplace and to be in a position to introduce new offerings at the right time.
As the CEO and founder of The Macaluso Group, my role and top priority is to attract, develop and retain a talented team. To accomplish this, I foster a culture that is rare in today’s business world: one that it is built on mutual respect, trust, dedication and where employees are empowered to run their business and are rewarded for A-Team performance.
It is imperative that I develop and share a clear vision for the organization and set the tone for a culture that works in concert to support our valued clients. For example, one of the areas which I view as vitally important is statistics, as these provide the evidence that our solutions are working properly. You will find weaved into our company materials, the statement "You can’t manage what you can’t measure".
With this mantra driven from the top of the organization down, TMG has been able to factually and intellectually communicate results internally and with our clients. We have invested in tools that provide this information in a timely and meaningful manner.
I have found that it is key to communicate, communicate and communicate even more, with my team, in order to share this vision and gain a sense to how it is being embraced. It’s also critical that I am open to their feedback, and that I am willing to refine the vision. This is accomplished through scheduled meetings as well as informal interactions.
I make it a point to speak to my employees every day, as this allows me to see the team in action, hear and participate in business situations, and to get an overall pulse for the business.
We also have structured weekly meetings with leaders and contributors within all disciplines of our organization. This enables us to prioritize items and issues, set a plan to address them, and monitor progress. Each employee has a critical voice and their opinions are valued.
We engage in collaborative work across the industry to ensure that our services are at the forefront of emerging technology and industry developments. We have enjoyed strategic partnerships with top financial card providers since 2001. This gives us the ability to offer our clients a most robust portfolio of services that includes selecting a financial processing platform that is best suited for the needs of a particular program.
Moving forward, we have developed a rolling five year plan to ensure continued success of our work. In 2014, we completed both our major move into our new headquarters and installed the framework for our launch of the Payment Card Division in 2015 which is expanding our footprint beyond the health care industry. Our plan for 2016 is to make the Payment Card Division as large as the Health Care Division thereby strengthening our stability by diversifying our revenues while utilizing the same solid I.T. infrastructure and systems.
Company: The Macaluso Group
100 Passaic Avenue Suite 245
Fairfield, NJ 07004
Specialty Product Division
2500 Broadway Building F
Santa Monica, CA 90404