Welcome to The Waterbury Talks. I'm your host, Grant Copeland. Today's conversation is with Terrance Myers. Terrance is the CEO of Myers Medical Coding Education, a post secondary school he founded in 2020. Myers offers online certification courses that train the next generation of medical coders in Connecticut, And across the United States, get Terrance's take on upskilling professionals for in demand jobs and healthcare, why he left New York City for Waterbury, how the women's business development council is not just for female business owners and the momentum happening in Waterbury that inspired him to grow his company here. It's a compelling conversation with an impressive entrepreneur as The Waterbury talks with Terrance Myers. Terrance, thank you for the conversation today. So tell us about your business, Myers Medical Coding. Myers Medical Coding Education is a post secondary career school. We offer education and training for the next generation of certified medical coders. The business was founded in 2020. So what was the genesis? What opportunity did you see to form a business? MMC was founded in 2020 with the aim to train the next generation of certified medical coders. And the job demand in the healthcare industry is what guided me or led me into that direction to want to train the next generation of certified coders. And I didn't always vision this to become a business or a school. Until I saw how many people were actually interested in the opportunities that lie ahead for those individuals were, can have a significant impact on their lives. So it motivated me to want to grow and try to expand. I mean, I am on a mission to do that now, starting in Waterbury and looking to spread across Connecticut. Just on basic terms, what is medical coding? Medical coding is the business of medicine, is how I like to simplify it. It is how physicians and hospitals are reimbursed. You don't have to necessarily be clinical or hands on dealing with patients. As long as we have physicians and hospitals in business, there will always be an opportunity for medical coders to work and be a part of the industry. With the medical coding certification that you or someone else might provide, where is that a springboard to what types of career paths are then offered? There are many different career paths a certified medical coder can take, such as a medical records specialist. You can become a consultant once you have years of experience. You can become an auditor, where you review the production of a certified medical coder. There are many remote opportunities for those individuals who have years of experience. And the CPC certification is a core credential that opens the door for entry level positions. And it is a process. You have to trust the process. Year over year, there has been growth. The stats are there with the Department of Labor and Statistics. There is job growth there in the healthcare industry, specifically in medical coding. You've described Myers Medical Coding as a school. What types of services or programs, courses, if you will, are offered underneath that umbrella? Yes. So MMC is a private post secondary career school. We offer training for two different certifications. One is called the CPC, which is the Certified Professional Coder Certification from the AAPC, who is the credentialing organization. There is another certification that I offer training for called the Certified Risk Adjustment Coding Certification. The abbreviations are CRC. And those are two credentials that are considered core credentials where you can start with and always look for opportunities to specialize in other areas such as pediatrics, cardiology, endocrinology. I am the head instructor conducting all of the live lectures in the training programs and I started my career with the CPC certification. And one year later, my employer invested into me to get training. for a second certification, and that training allowed me to prepare for the exam and pass it. And that also allowed me to explore different opportunities and stay open and competitive. And I think having that credential really gave me the leverage to demand higher pay and understanding the value in my credential and the skills that I'm bringing to the table. So far, I've been having good success and good reviews from students. In terms of your business, Terrance, who is the competition in the medical coding certification space? There are many different competitors in terms of offering training and education for medical coding certifications. However, I don't like to view other institutions as competitors. I would prefer to partner with other institutions. Post University has invited me as a post secondary career school on campus to be able to promote my training programs for their students. So when I look at my competitors, I asked myself, how can I partner with this institution so that we can work together on a common goal and that is to ultimately provide an employment opportunity or good career for that individual. And I think if we We share the same goals and we have similar missions. There's really no need to compete, especially where we have a high demand in medical coding. But I do consider MMC as the top provider in providing the highest quality training in Waterbury. Tell us a little bit about your background. Where did you grow up? So I grew up in New York City, and I always dreamed to be a baseball player. I always wanted to play for the New York Yankees, and my favorite player was Bernie Williams on the Yankees, and my dad always played baseball, and that was always my dream. I tried out for Monroe College. I didn't make the team. Because I didn't have the stamina and conditioning to keep up with the other players, because I chose to have fun instead of working towards building stamina and conditioning that summer. And it was the guidance of my parents that allowed me to have a plan in place, a plan B, and that was the healthcare industry. My mom worked as a medical biller since she was 21 years old, and my dad also worked in the healthcare industry, and that guidance is what really introduced me to healthcare administration. I never knew what medical coding or healthcare administration was, honestly. All I knew was Baseball, so my college degree and education really opened the door and introduced me to medical coding. I took Three courses at Monroe College, an intro, intermediate, and advanced level courses of medical coding. I grew a passion for it. The professor was a medical coder herself and she was a professor during the evening and I saw the flexibility in her career and I wanted to chase that same dream of having flexibility in working. So I continued to study for medical coding, particularly for the certifications and unfortunately I failed the exam the first two tries. and ended up spending a lot of money on practice guides, study guides, and exam fees, because if you fail the exam, you have to pay another fee to retake it. So it's worth investing into training. That is something that has inspired me and motivated me to want to help individuals train and prepare for the exam so they're not spending thousands of dollars on exam fees, and they're able to take the exam on the first attempt or second attempt and pass it. But it was a journey for me, and it wasn't always easy. But I am happy that I was able to overcome all of the obstacles and quickly pivot. The job demand continues to rise for medical coders, and the physicians are needing medical coders. There are many opportunities that are vacant for medical coding positions, and the title would be medical coding specialists, outpatient specialists. There are many different titles, but the certification is a credential that demonstrates your expertise and skills, and the physicians and the health systems really need the help, and they would prefer to have someone in the United States. The medical coding industry has evolved significantly over the years, and technology plays a bigger role now. And I can say that many of the medical coding positions have been outsourced for many years. And I'm looking to bring those jobs back to the United States. Let's jump off from you earned your degree from Monroe College. You're growing an interest and a passion for medical coding. How do you then get into a professional career? As a medical coder, there are many entry level positions an individual can apply for. So it depends on the person's passion, their strengths. For me, I started as a junior coder. That was the title, and a junior coder will perform as an apprentice. So when you become a certified coder, you're an apprentice for the first 12 months. There are many ways you can gain experience, do unpaid internships, we call it externships. I do offer job placement assistance for individuals who become certified and it really depends on the individual's interest and their career goals and the path that that individual chooses to take. I have a passion for teaching. So after working as a certified medical coder and having five years of experience, you're able to take a certification exam to become an instructor as well. So it is a journey. You have to trust the process. You have to know what your career goals are. But there are unlimited career paths one can take. And there are many different ways to do it. opportunities out there, even for hybrid positions. If you want to work some days in office and some days from home, there are many opportunities where you can work 100 percent remotely if you have the years of experience. And I can say for me, the hardest part of the journey was the beginning, having no experience, but I was able to connect with recruiters and those recruiters allowed me to have temporary assignments where I can gain experience and that experience Do the temporary recruiters and temp agencies is what allowed me to gain experience while training for my certifications. I would work doing administrative and clerical duties. Those are considered entry level jobs in healthcare. There are many different positions and titles, and I would say You should always research the position or job opportunity or career in your area in your market and being able to see what those qualifications are in advance will allow you to have a plan in place after you become certified. Going from externship to formal positions in the industry, I assume all that was in the New York area. What brings you from New York City to Waterbury? I relocated from New York City to Waterbury when I had my daughter Indigo, and she's now four years old. And I wanted a fresh start. I wanted to be in a place where I could focus more on raising my daughter and being a dad. And the opportunities that have come my way make me believe that I made the right decision. I'm not sure if I would have decided to continue to grow or even start a business living in New York City. And that is only because I needed to separate myself from those distractions and being somewhere where I know no one. Yeah, it can be scary, but it was a fear I was willing to face and Waterbury has embraced me. For example, the Women's Business Development Council, WBDC, although they're a women's council, they still embraced me and still wanted to help me start and grow my business. As a for profit LLC, there aren't too many opportunities for us to be able to have that support or available resources. And I'm so thankful and I'm so glad to be a part of Waterbury now. It makes me want to have a positive impact on my community. At the same time, I also go back to New York and volunteer my time for those individuals that come from the community that I was raised so that they can see there is a way out and you have to stay committed and stay focused and I'm able to do that here in Waterbury and knowing that I have a support system and I'm just thankful for that and happy to be a part of the community and Making a positive impact by bringing awareness to a rewarding career path in the healthcare industry. Was getting the business off the ground exciting, intimidating, a little bit of both? I would say a little bit of both. Exciting because as a business owner, you always want to grow. And I would say I was a little nervous and my fear is not being able to help everyone alone. And understanding that sometimes it takes a team effort. You know, and I'm thankful I consider the WBDC a partner and I do value that partnership being the CEO of my business. There's still a lot for me to learn in order for me to grow. And I believe that I have those skills in place now to grow, and I'm ready to take my business to the next level, hopefully starting in Waterbury and spreading all across Connecticut and the United States. I imagine WBDC and its staff and advisors were not only helpful, but maybe even inspirational for you. Were there other people who inspired you along the way to give you the confidence to not only start the business, but actually sustain it and now have thoughts to grow it? I would say my family, my kids, my wife, that is my number one inspiration, is what motivates me to want to continue to grow my business, and I want to be able to have a business that my family can continue, and I consider my junior, he is the true CEO of Myers Medical Coding Education, but I do that. Hope to grow, but I know it would take a team effort and hopefully I'm able to get to that point where I can expand to different locations and be able to have an impact in other cities and towns in Connecticut. What would you say were some of the biggest hurdles in making your business a reality? I would say one of the biggest hurdles would be not being able to provide financial aid for many students. I represent the underserved populations. And many times at career fair events, there are individuals who are unable to afford training. And I don't turn those individuals away. I still try to offer. Education in terms of here's more information about the job opportunity. Here's a job description. These are the qualifications. You know, if this is something you're really interested in, feel free to schedule time to meet with me and I'll guide you. And those are the things that I'm passionate about and really make me happy to know that. I can have an impact on someone else's life by offering that education and training. So I do like to volunteer my time for individuals who are unable to afford training. And that is one of my challenges, is not being able to cover all of the expenses that are necessary to train the next generation of certified medical coders. How did you first connect with the Women's Business Development Council? Word of mouth. From business owner to business owner, we worked together through our local chambers of commerce, such as the Greater New Haven local chamber of commerce, the Waterbury local chamber of commerce, And that partnership allows us to be able to partner with WBDC. And for me, it was networking within my network of knowing other business owners and getting out there and interacting with other business owners that allowed me to come across WBDC. And I didn't think to apply for any assistance in terms of resources to grow my business. Because it says women's right and the other term that is oftentimes overlooked is Waterbury as well. Because the Women's Business Development Council is located in Waterbury and they're Extending their resources to other small business owners, such as myself. And I am super appreciative of that. I'm not sure if I relocated to any other city, I would have the same support. And I'm just so happy that. I was able to be introduced to WBDC and establish a relationship and I'm hoping to continue that partnership so that we can promote more good job opportunities, rewarding job opportunities, and training opportunities that are affordable for individuals, especially in Waterbury. So what's the breadth and scope of the relationship? How did and how is WBDC helping you? They offer support in terms of I can schedule time with an advisor as needed. There's no commitment. There's transparency. And if there is an application that you're going to apply for in terms of any grants, you can know that. You have someone there to help you, you have a contact person, you don't have to worry about calling a call center and not speaking to a live person. And having that one on one support from individuals who are very knowledgeable. It's a team effort and very organized and you can tell that WBDC truly wants to help. They're not just promoting opportunities and turning individuals away. If you meet the qualifications and you have the necessary and required documents that are being requested, WBDC will help you. And you have that one on one support. And that is something that I value the most is being able to have an advisor. I'm not in a position to hire an advisor or have additional support. So this resource is of great value to me as a small business owner. So for a consultation with someone from WBDC, what types of topics are you talking about or what types of advice are they giving? There are many different. Types of consultations you can schedule, such as accounting and finance. They can help you with your bookkeeping. That is something that I struggled with because I am not an accounting guru. Although I know the basic components to run a spreadsheet and to manage my books. Sometimes we just don't have the time to be able to go in and understand the different technologies and softwares that are out there. So the accounting and finance. I would say was the most beneficial consulting services provided. There are also many other topics such as how do you grow your business? Do you need advice on how to grow? Do you need advice on how to market and advertise? Do you need access to capital? Do you need access to funding? Those are the types of things that are really valuable and being able to have time for me means a lot and I really value that and want to continue that relationship for that reason. From your point of view, Terrance, why is Waterbury such a good spot for businesses? Waterbury is in a rebuilding phase and it's going to take A collaborative effort from emerging leaders such as myself, and you'll see that located in many signs across Waterbury, we are heading in the right direction, and I'm glad I came to Waterbury because I'm here to help you have to roll up your sleeves sometimes and be active and interactive with the community, and I know Waterbury is It's in a good phase and I can see significant impact in the workforce if I can just get more students and more individuals to invest into training and see the growth in the medical coding industry. So if you had to pick a word or a phrase to describe your business or maybe even more so your style as a business leader, what would that word or phrase be? I would say at MMC, we provide the highest quality education. I don't like to teach by the book, meaning you're not speaking to a robot. You're being trained by an individual who has over 10 years of experience in the business of medicine. And it's hard to find an instructor who's passionate about their business. And for me, I'm not only the CEO of my business, but I'm the head instructor. And it means a lot for me to help these individuals. And I'm hoping to be able to train my students. to eventually become instructors in the future and help me grow the business. So I am relying on Waterbury in Connecticut to help me grow this business. And it's going to take a community. It's going to take a team and collaborative effort. And I'm really thankful for WBDC for that partnership to help me grow my business. You mentioned a couple of partnerships, Terrance, that you've already brokered in Waterbury, obviously with WBDC, post university was mentioned earlier in the conversation. Are there other organizations that you're now talking with or even actively working with here in Waterbury? Because of the Workforce Alliance and WBDC, the Greater New Haven Chamber of Commerce and the Waterbury Chamber of Commerce, Those connections have allowed me to work with other local colleges and universities. Post university has always extended invites for Myers Medical Coding Education to come on campus and bring some awareness to the career opportunities and training opportunities. Yale New Haven Health, we have worked in partnership in terms of being at the same career fair events and I don't see my local colleges and universities as competitors. I look to my local colleges and universities for partnerships to be able to help their graduates and future graduates for employment opportunities, even after graduating with their degree. What are some words of advice for other entrepreneurs in Waterbury or beyond? I would say the best advice as an entrepreneur and a small business owner is don't be afraid to come out of your comfort zone. Don't be afraid to reach out and seek help and assistance. Sometimes I need to just call someone just to get advice, whether it's a business decision or just in life. Right. And I think getting out and networking, attending career fair events, depending on your industry and your market, it's really important to understand your market and try to establish relationships and partnerships. And as a community and as a state, I think if we work together, we can improve and increase the workforce numbers in terms of having individuals with above average pay salaries. And I think the time is now. Terrance, thank you so much for the conversations today. We appreciate it. Thank you for having me. Listen to the full series from The Waterbury Talks and learn more about the Women's Business Development Council, programs and incentives for local businesses, and all the city offers at thewaterbury.com