Five Questions with a Startup CEO: Kwaku Owusu of Ilerasoft

Kwaku Owusu, CEO, Ilerasoft

Ilerasoft’s technology centralizes a health system’s entire equipment data on one platform to improve equipment utilization and FDA Safety Recall Management. Ilerasoft calculates underutilized equipment in real time and provides solutions to increase efficiency. We link underutilization to financial metrics on an actionable dashboard. By centralizing data on one platform, we provide relevant FDA Safety Recall Management that identifies defective medical equipment earlier and more accurately.

What does your company do best?

We identify underutilization down to the equipment level using our Efficiency Score. This is akin to a credit score for medical equipment. It allows administrators to easily see how efficiently equipment is used over time and provides analytics to make data driven decisions. Our software intelligently reveals the true demand for medical equipment within a system and allocates excess supply to where it is needed most. We provide the logistics platform that enables an internal sharing economy within a health system.

If you could change one thing about your product/service or industry-what would it be and why?

The healthcare industry has not embraced the advances in technology. Often times software solutions are antiquated, incompatible or poorly designed. This makes the day to day task of caring for patients unnecessarily tedious and inefficient. This has a real impact of quality of care and leads to high staff frustration and low job satisfaction. Healthcare has not enjoyed the benefits of technology to make things better.

Startups sometimes experience growing pains, what helps you get through these startup cycles?

Believing in our values and mission. It acts as our guiding principle through ups and downs.

What has surprised you during your time with this startup?

When people see you are excited and believe in your product, values and mission, they are very receptive and willing to help. Being relatively new to St. Louis, we have been surprised by the overwhelming support throughout the tech eco-system. It has been full of people willing to help and genuinely want us to succeed.

What advice would you give to an aspiring entrepreneur?

Customer validation and feedback should be valued above all else.

To find out more, visit their website at www.ilerasoft.com.