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Ep. 5 Dr. Raymond Fabius: Building a Culture of Health to Flatten Healthcare Costs
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Building a Culture of Health: The Competitive Advantage Employers Miss
Dr. Raymond Fabius, co-founder, president and chief medical officer of HealthNEXT and co-author of "Population Health: Creating a Culture of Wellness," reveals why mid-market companies lack the healthcare expertise to tackle rising costs—and what C-suite leaders need to do about it.
Vinny welcomed Dr. Raymond Fabius, physician executive and co-founder of HealthNEXT, to discuss population health management and strategies for controlling healthcare costs in organizations. Drawing from his extensive experience working with major corporations like GE and his transition from practicing medicine to healthcare leadership, Raymond shared insights on how employers can influence employee health and flatten cost curves.
Raymond explained how companies with a strong culture of health, safety, and well-being achieve moderate medical trends while simultaneously outperforming the stock market. His published research shows companies with a culture of health outperform the market by an average of 2% per year. He emphasized that combining strong negotiating skills with expertise in reducing healthcare needs leads to sustainable cost management, noting that a small percentage of workers account for the majority of healthcare expenses.
The conversation explored the role of employers in promoting wellness through intentional environmental design and incentive structures, the critical importance of having physician executives guide healthcare strategy, and the challenges mid-market companies face when HR departments lack necessary clinical expertise. Raymond highlighted HealthNEXT's assessment tool that compares employers to best practices and provides customized strategic plans.
Vinny and Raymond discussed generational health trends, noting Gen Z's healthier behaviors including reduced alcohol and tobacco use, and the essential role of AI in augmenting healthcare professionals. Raymond emphasized the importance of C-suite involvement in health strategy as a core business initiative and shared his commitment to advancing the field through book royalties donated to Thomas Jefferson University's College of Population Health.
Disclaimer: This content is for educational purposes only. Please discuss your specific situation with your health benefits administrator or insurance provider for personalized guidance.
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By Vinny CatalanoSend us a text
Building a Culture of Health: The Competitive Advantage Employers Miss
Dr. Raymond Fabius, co-founder, president and chief medical officer of HealthNEXT and co-author of "Population Health: Creating a Culture of Wellness," reveals why mid-market companies lack the healthcare expertise to tackle rising costs—and what C-suite leaders need to do about it.
Vinny welcomed Dr. Raymond Fabius, physician executive and co-founder of HealthNEXT, to discuss population health management and strategies for controlling healthcare costs in organizations. Drawing from his extensive experience working with major corporations like GE and his transition from practicing medicine to healthcare leadership, Raymond shared insights on how employers can influence employee health and flatten cost curves.
Raymond explained how companies with a strong culture of health, safety, and well-being achieve moderate medical trends while simultaneously outperforming the stock market. His published research shows companies with a culture of health outperform the market by an average of 2% per year. He emphasized that combining strong negotiating skills with expertise in reducing healthcare needs leads to sustainable cost management, noting that a small percentage of workers account for the majority of healthcare expenses.
The conversation explored the role of employers in promoting wellness through intentional environmental design and incentive structures, the critical importance of having physician executives guide healthcare strategy, and the challenges mid-market companies face when HR departments lack necessary clinical expertise. Raymond highlighted HealthNEXT's assessment tool that compares employers to best practices and provides customized strategic plans.
Vinny and Raymond discussed generational health trends, noting Gen Z's healthier behaviors including reduced alcohol and tobacco use, and the essential role of AI in augmenting healthcare professionals. Raymond emphasized the importance of C-suite involvement in health strategy as a core business initiative and shared his commitment to advancing the field through book royalties donated to Thomas Jefferson University's College of Population Health.
Disclaimer: This content is for educational purposes only. Please discuss your specific situation with your health benefits administrator or insurance provider for personalized guidance.