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Neurotech LLC, Keith Morgan
Keith Morgan was a 28-year-old neurodiagnostic technologist with an idea and dream of owning his own business. Working for a local neurologist, Keith’s responsibility was to perform a number of diagnostic tests to identify neurological disorders. One of the tests involved 24-hour monitoring of the patient using the EEG (electroencephalogram) in order to diagnose seizure disorders such as epilepsy. Typically, this testing was available only in a hospital setting. Instead of causing patients the inconvenience and expense of spending 24 hours – or more – in a hospital, Keith wondered why not take the test to the patient? And that’s exactly what he did. Neurotech LLC was founded in April 2006. A month later, Keith realized that he needed some business planning help to accompany his expertise in diagnostic testing so he contacted SCORE. He was paired with Volunteer Mentor Bob Dude, who retired in 1998 as the Executive Vice-President and Chief Financial Officer for Family Health Systems of Milwaukee.
In 2006, Keith Morgan was a 28-year-old neurodiagnostic technologist with an idea and dream of owning his own business. Working for a local neurologist, Keith’s responsibility was to perform a number of diagnostic tests to identify neurological disorders. One of the tests involved 24-hour monitoring of the patient using the EEG (electroencephalogram) in order to diagnose seizure disorders such as epilepsy. Typically, this testing was available only in a hospital setting.
Instead of causing patients the inconvenience and expense of spending 24 hours – or more – in a hospital, Keith wondered why not take the test to the patient? And that’s exactly what he did. Neurotech LLC was founded in April 2006.
Using a Holter monitor (ambulatory electroencephalography device), a computer and wireless technology, Keith devised the on-site method and now his company employs registered EEG technologists who deliver the equipment to the patient’s home, connect the device and set up the monitoring system. The equipment tracks the patient’s brain activity as they go about their normal business and Neurotech trained remote EEG technologists monitor the activity 24/7. Physicians also have the option to view activity and test results on line.
A month later, Keith realized that he needed some business planning help to accompany his expertise in diagnostic testing so he contacted SCORE. He was paired with Volunteer Mentor Bob Dude, who retired in 1998 as the Executive Vice-President and Chief Financial Officer for Family Health Systems of Milwaukee. At their first meeting they discussed Neurotech’s need for more referral sources and Bob was able to connect Keith with key people in the local healthcare industry to initiate that process.
In the years since then, Bob and Keith have met numerous times and together have explored everything from business plans and budgets to personnel issues and leasing office space. Keith considers Bob an integral part of his success and an invaluable member of his team. “There is nothing like having access to a seasoned professional, someone who has dealt with these issues before and who is willing to share his experience and his connections – for FREE! We have had discussions on finance, human resources, recruiting, management, expansion, etc. Bob has been like a ‘big brother’ who is always there to help when I need advice or don't know what to do. He has been instrumental in our success in understanding the ‘big picture’ of growing a business. I can’t tell you how good it is to be able to pick up the phone and have him remind me to ‘take a breath’ and help me resolve a problem,” Keith said. “It’s what helps me sleep at night.”
In describing Keith’s evolution as a business owner, Bob Dude explains, “Neurotech’s rapid, profitable growth has required Keith to face new challenges that I call ‘problems of prosperity,’ which include stepping up to hire, train and delegate his currents tasks to others, replacing himself as a tech, administrator and billing clerk, allowing himself time to court new customers and manage long-range business plans. These are challenges he has embraced, fueling further growth.”
Over time, Keith has taken advantage of the SCORE workshops and says, “They have helped educate me on how a department is supposed to run or what skill sets you need to perform the duties yourself. The workshops have also taught me that some things are better just to outsource because of the time/money a certain function may require.” He added, “These workshops are a must for a first time business owner!” Neurotech employees have also attended SCORE workshops. “My sales force attended the one on social media and my administrative department attended the financial workshops. Both have served us well.”
Along the way other SCORE volunteers have been tapped to provide Keith with assistance on marketing and sales training. SCORE and Neurotech have proven to be a good team. In 2011, Neurotech was named by the U.S. Small Business Administration's Wisconsin district as its Emerging Small Business. Today, in addition to its corporate headquarters in Elm Grove, Neurotech operates offices in Schaumberg, IL and Indianapolis, IN. It employees 35 full and part-time associates and has averaged 30% annual growth in revenue.
