King’s Medical Group is a US for-profit, faith-based company that is guided by the fundamental philosophy that everyone should have access to state-of-the-art diagnostic imaging services. Health care needs of small communities throughout the country are often overlooked by large hospitals and other imaging corporations due to the high costs and risks associated with the investment. Through financially flexible solutions, KMG has developed a unique business model that makes small community imaging centers a successful business venture. The company’s efforts brought about eight imaging centers to the underserved regions of five states, and executed many consulting projects for health care facilities throughout the US.
Innovation
KMG’s efforts to address under-serviced healthcare needs perfectly align with some of the key attributes of non-profit and for-profit organizational strategies. The company understands the importance of imaging centers being profitable. However, profitability is not a measure of success; it is a “means of accomplishing [a] higher objective.” The “higher objective” is to increase the availability of imaging centers in under-served communities. Thus, profit is a means of creating a greater good to the community as a whole.
KMG accomplishes these objectives by engaging in the design, creation, financing, operation, and maintenance of imaging equipment and facilities; providing a complete turnkey solution. In fact, KMG operates much like a franchise, developing proven business practices that can be successfully repeated from one imaging center to the next. KMG can handle every aspect of project from concept to completion. This includes site development, design, engineering, and construction. KMG also has the ability to manage the entire operation of the imaging center as well, allowing physicians to devote their time to caring for its patients. This includes personnel selection, scheduling, billing, collections, procurement, and marketing activities.
KMG is designed around the premise of “producing profitable scanning operations” in conjunction with “honoring Jesus Christ in everything [they] do.”
Impact
To date, the company has profitably addressed its mission of delivering imaging technologies to underserved regions of the country by operating eight community imaging centers in five states. In addition, the company provided various consulting services to hospitals and other healthcare organizations, ranging from market analysis to project management to equipment selection and procurement.
A story of Cameron Memorial Community Hospital in Angola, Indiana, speaks to the impact of King’s Medical Group. The small hospital did not have resources to expand its imaging services, thus patients with surgeries that required a particular MRI scan had to be rejected and sent to a city 50 miles away. KMG worked with Cameron to develop new imaging solutions for local residents, to market the new services to assure profitability, and to educate local physicians. As a result, new services allowed for patients to receive surgeries locally, and the hospitals imaging volume increased 15%.
Inspiration
The company is built on four core values that continue to inspire and guide its staff: People, Accountability, Communication, and Stewardship. KMG utilizes these four core value (also known as PACS) to direct their daily business objectives, while Don Kline, Vice President of Corporate Ministry, assures that the PACS are integrated in all strategies and decisions of the company. As stated in its four PACS, “profitability is a not an end in itself,” for this “for Profit” company. Members at KMG will be quick to point out that they are “not a church.” In order for KMG to be able to continue operations and serve people’s medical needs in rural areas, it must generate a profit. However, KMG also uses its profitability outside the scope of its business model, such as building an Airport for people in a small town in Indonesia, donating bibles to imaging centers, and building water wells in India.
The World Inquiry editorial team edited this profile from the original submission of the interviewer or other source. The views expressed do not necessarily represent Case Western Reserve University, the Weatherhead School of Management or the Center for Business as an Agent of World Benefit. More >>
