Meet Era Rubalsky of EcoMed in Northbrook

Today we’d like to introduce you to Era Rubalsky.

Era, please share your story with us. How did you get to where you are today?
My story has a conventional start, but my journey will resonate with other entrepreneurs who strive to solve problems and make an impact.

After graduating from college, my first corporate job was in the banking industry.  Few years later, I was recruited by a hospital to manage operations and finances for a department that fixed medical devices.

Among many hats I wore in that role, one was to manage devices that hospital no longer needed.  These devices were actually in good shape, just no longer desired by physicians who preferred newer technology.

There were ultrasounds, defibrillators, ventilators, patient monitors, stretchers – you name it! Hospital rented a 10,000 sq foot warehouse to store all these devices and it was up to me and my team to figure out what to do with them.

Recycling and donating valuable devices seemed wasteful, so we pitched a plan to C-Suite Leadership to sell devices that were not being used. Plan was approved and new program was born.

Within 6 months of operations, my Department generated $160k in revenue through sale of used medical devices. It was remarkable! But in hindsight, if I knew then what I know now, that amount would have been double.

I worked at the hospital for few years and when it was acquired by another hospital system.  I and everyone on my team lost their jobs. It was devastating to lose a job because of corporate politics. But, if it wasn’t for that situation, EcoMed wouldn’t exist.

It would have been much easier to look for another job. I had the right credentials and experience to continue working in the Corporate world.  However, deep inside I earned for something more than Corporate world would ever offer.

I knew most hospitals were helpless when it came to properly managing medical devices they no longer needed.  Their staff often complained about being overworked, lacking space to store equipment and vendors who took advantage of this situation and offered “pennies on the dollar” for valuable devices.  I decided this process needed to change.

After few weeks of moping around the house, I opened my laptop and started drafting a business plan for what later became EcoMed.  My mission was to create a viable process that will transform how hospitals manage medical devices that are no longer needed.

Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
This has been one very bumpy ride!

Initially, the biggest problem was operational.  EcoMed was a startup company.  It had to be managed like a startup.  And, since my resume only reflected work for institutional giants – bank and a hospital, I had no clue what I was doing.  My biggest mistake was trying to mimic other companies in my industry.  I was naïve, trusted wrong people, took negligent advice and didn’t listen to my intuition.  The beginning was very financially and emotionally draining time.

Eventually, I found my footing, read a lot of books, studied my industry and customers.  I realized that my industry colleagues are mostly men who may at times challenge my knowledge and refer to me as “honey”.  I actually now find it endearing and return the favor by calling them “dear”.

I also realized that EcoMed’s purpose is to help healthcare providers equitably and safely sell medical devices they no longer need.  I shifted my business model to operate with their needs in mind and I vowed to no longer worry about how I’m being perceived by my industry colleagues.

Only after these major shifts happened I started to see traction and results.  There are still challenges that must be overcome, but I finally have a solid foundation that can withstand everyday noise.

Alright – so let’s talk business. Tell us about EcoMed – what should we know?
EcoMed helps healthcare providers sell medical devices they no longer need.  We have a process, right tools and resources to sell devices safely and equitably in United States and abroad.

We are a boutique company that saves hospitals money, time and effort.  These 3 ingredients are essential to sell used medical devices equitably.  Depending on device type, average resale value we generate is 20-35% greater than what healthcare provider can achieve on their own after investing at least 4-5 hours into the selling process.

We go to great lengths to protect our clients’ interests and limit risk exposure.  First and foremost, we make sure every sale is compliant with HIPAA and EPA regulations.  We work with NRC (Nuclear Regulatory Commission) when reselling devices that were used with radioactive materials.

We protect our clients from buyers who may issue checks with insufficient funds, buyers who may renegotiate prices at the last moment, buyers who may resell equipment to countries where US has trade restrictions and so on.

Our clients include hospitals, surgical centers, clinics, doctors and independent practices all over the country.  We sell devices that range from infusion pumps, hydrotherapy systems and hospital beds to anesthesia machines, X-Ray rooms and nuclear medicine camera.

We encourage our clients to abandon antiqued ways of selling medical devices they no longer need but if they want to undertake this process on their own, we guide them and offer suggestions on how they can do it better.

Each completed sale proves that properly managed process for selling used medical devices can lead to sustainable revenue and more time for patient care.

Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
Absolutely a shout out and big hug to my husband Alex.  He’s my biggest fan, critic, sounding board and the one who believes I can do this work.

There were rough times when I wanted to throw in the towel and he wouldn’t let me. He’s been with me through every triumph and defeat.

He is the voice of reason, my go-to for almost everything. He keeps me accountable and helps with many decisions I have to make every day. He encouraged me to come out of my shell, embrace challenges and be fearless. He almost succeeded… I’m still petrified of heights.

Pricing:

• Instead of invoicing for services and having complicated fee schedule, we pay our clients for devices they otherwise would recycle, donate, trade-in for low value or sell to a wrong buyer.  Our clients always remain in control of the sale by approving final sales price and EcoMed collects a nominal fee when the sale completes. There’s no financial risk to work with EcoMed.

Contact Info:

• Address: 3687 Commercial Ave.
  Northbrook, IL 60062
• Website: www.ecomedhtm.com
• Phone: 855.234.5600
• Email: med@ecomedhtm.com
• Instagram: ecomed_llc
• Facebook: https://www.facebook.com/EcoMedHTM
• Twitter: https://twitter.com/era_ecomed
• Other: https://www.linkedin.com/in/era-rubalsky-8839ab46/

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