As the healthcare sector increasingly embraces innovation, MAKO Medical, under the leadership of CEO Chad Price, has emerged as a major disruptor in clinical diagnostics. By prioritizing technological advancements and streamlining lab operations, Price has positioned MAKO Medical as a preferred alternative to established giants. From automation to community engagement, Price’s approach is reshaping expectations for clinical laboratories. Recognized among North Carolina’s Top 125 Private Companies, MAKO Medical has become an example of how tech-driven solutions can improve healthcare efficiency and quality, particularly for independent healthcare providers.
This article examines how Chad Price’s strategies have addressed major gaps in diagnostics while emphasizing the needs of underserved communities, illustrating his impact on both technology and patient access.
Breaking into the Market and Setting New Standards
Chad Price faced significant hurdles upon entering the clinical lab market, dominated by established companies with longstanding relationships. Instead of competing on the same terms, Price targeted smaller, independent healthcare providers that lacked accessible, high-quality diagnostic options. This approach was pivotal in building MAKO Medical’s reputation as a partner for local practices rather than hospitals.
MAKO Medical’s differentiation strategy has been instrumental. By focusing on underserved community providers, the company quickly carved out a niche, meeting diagnostic needs that larger providers often overlook. Unlike many traditional labs, MAKO Medical emphasizes speed and accuracy, enabling healthcare practices to deliver timely diagnoses to patients without sacrificing quality. Price’s model has effectively redefined diagnostic standards for these providers, turning MAKO Medical into a trusted resource within the healthcare ecosystem.
The strategy of focusing on independent providers allowed MAKO Medical to build loyal client relationships and set standards around transparency, reliability, and customer support. By maintaining a clear mission to support local communities and their specific needs, Chad Price has positioned MAKO Medical as a key player in healthcare’s next wave, proving that a smaller but focused approach can significantly disrupt industry norms.
Leveraging Technology for Efficiency and Precision
Central to MAKO Medical’s success is its use of cutting-edge technology, particularly automation, robotics, and data analytics. Price recognized that traditional laboratory models were often slow, manual, and prone to error—factors he saw as obstacles to improving patient care. To address these issues, MAKO Medical invested heavily in technology to streamline processes and improve diagnostic accuracy.
Automation has been a game-changer, enabling MAKO Medical to process high volumes of tests with reduced error rates and shorter turnaround times. These efficiencies have made MAKO Medical a preferred provider for facilities that need rapid, reliable results, helping healthcare providers make quicker, data-backed decisions. Additionally, Price’s focus on data analytics offers healthcare professionals insights that traditional testing labs do not typically provide, adding value through informed, timely medical decisions.
MAKO Medical’s use of cloud-based data systems is another significant advancement. By storing and managing diagnostic data securely online, the company provides healthcare providers with instant access to test results, increasing transparency and enabling real-time patient management. This integration not only enhances patient outcomes but also differentiates MAKO Medical in an industry that is just beginning to embrace the benefits of data-driven diagnostics.
Price’s emphasis on technology is rooted in the idea that diagnostics should be fast and precise. By modernizing testing processes, MAKO Medical has successfully brought a data-centric approach to healthcare providers, pushing the sector forward and setting a high bar for competitors.
Community-Centered Values and Social Responsibility
Chad Price’s commitment to social responsibility is woven into MAKO Medical’s operational framework. Recognizing that a business can simultaneously thrive and contribute to its community, Price has developed MAKO Medical into an employer and partner that values positive social impact. From hiring veterans to supporting over 300 nonprofits, MAKO Medical consistently invests in its surrounding communities, promoting a mission that extends beyond diagnostics.
MAKO Medical’s emphasis on hiring veterans is particularly noteworthy, as it provides meaningful job opportunities for those who have served. This policy reflects Price’s belief in giving back while benefiting from veterans’ unique skills and discipline. The company’s charitable partnerships go beyond employment, extending support to initiatives focused on healthcare, education, and housing. This strong social responsibility component strengthens the company’s brand and demonstrates that Price views community involvement as essential, not optional.
Through these initiatives, Price has built an organization where employees feel a connection to the company’s broader mission. Social responsibility is ingrained in MAKO Medical’s culture, creating an environment where community engagement is encouraged and valued. This focus has made MAKO Medical a respected name locally and regionally, adding depth to its reputation and appealing to employees who value purpose alongside professional success.
Awards, Industry Recognition, and Vision for the Future
MAKO Medical’s innovative and community-centered approach has not gone unnoticed. Under Price’s guidance, the company has received multiple awards, including the Frost & Sullivan Award for Technology Innovation in Clinical Laboratories, as well as recognition on Forbes’ and Inc. 5000’s prestigious lists. These accolades underscore the impact MAKO Medical has had on the industry and validate Price’s forward-thinking model of diagnostics.
Looking forward, Price’s vision remains rooted in innovation and patient-centered care. By continuing to invest in research and development, MAKO Medical aims to stay at the forefront of diagnostic technology, with plans to introduce even more automated and data-driven solutions that enhance accuracy and efficiency. Price envisions MAKO Medical as a leader in predictive diagnostics, where technology not only tests but anticipates and addresses health issues before they escalate. In line with this, the company is exploring advancements in artificial intelligence, which could transform the precision of diagnostic tools across multiple fields.
Additionally, MAKO Medical’s long-term goals include expanding its social impact footprint. As the company grows, Price is committed to strengthening partnerships with nonprofits and supporting underserved communities, ensuring that MAKO Medical’s progress benefits not just its clients but also society at large. This dual focus on innovation and social responsibility positions MAKO Medical to remain a prominent player in health tech, balancing business goals with community impact.
Through his leadership at MAKO Medical, Chad Price has shown that innovation and social responsibility can coexist in the healthcare industry. By integrating cutting-edge technology into the diagnostics process and addressing the specific needs of community healthcare providers, Price has redefined what clinical laboratories can offer. MAKO Medical’s emphasis on automation, data analytics, and patient access sets a standard that other companies in the health tech space can learn from.
Beyond technological advancement, Price’s commitment to community involvement underscores his vision of a healthcare provider that values both business success and social responsibility. As MAKO Medical continues to push the boundaries of clinical diagnostics, Price’s approach serves as a guide for how health tech companies can achieve growth while making a meaningful difference. In a landscape increasingly defined by tech-enabled solutions, MAKO Medical exemplifies how purposeful leadership can transform an industry and positively impact society.
