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In this episode, Michael introduces Justin Leader, the CMO of Highlight Health and a self-funded benefits and risk advisor. Early in his career, Justin learned about the major shortcomings of the healthcare and health insurance industry and how it is built for profitability, not value. When he met Josh Spivak, the CEO of Highlight Health, they saw an opportunity to build a better solution for an underserved segment of the population.
Highlight Health’s mission is to deliver affordable and accessible healthcare to the nation’s underinsured populations. Their product is not a health insurance product, but rather a healthcare product where in exchange for a fee, an employer’s underinsured employees get access to healthcare, education, and an advocate. The populations they serve typically don’t work enough hours to qualify for full time benefits, can’t afford their traditional benefits, or may be offered limited MEC or Minimum Value plans that really don’t offer access to comprehensive healthcare.
Highlight Health’s goal is to systemically help people access 80-90% of their basic healthcare needs through their platform and mitigate risk for catastrophic events. Highlight Health differs from other vendors in the market by providing an advocacy service for members and negotiating with Hospitals to provide inpatient and outpatient care at zero or reduced cost through federally-funded programs. Highlight Health is busy collecting feedback and success stories from members and they look forward to a future full of collaborations and philosophically-aligned partnerships to better serve their members.
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In this episode, Michael introduces Doug Aldeen, a healthcare and ERISA attorney. He has represented reference-based pricing organizations, PPO networks, medium to small self-funded plans, TPA’s and provider sponsored HMO’s in various capacities.
Doug started his career at an insurance defense firm, then worked at a local HMO for years. It was there that he learned the ins-and-outs of the healthcare industry and realized that “discounts” aren’t real, but the prevalence and unsustainability of cost-shifting very much are. He found that in many cases there’s no correlation between what hospitals charge and their cost, and “turbo-charging”—where hospitals raise billed charges at unreasonable rates—is common in commercial insurance yet illegal in the Medicare world. Doug has seen “turbo-charging” of 12-24x, and 30x pricing on prescriptions and implants.
Surprisingly, employers are often completely unaware of what’s going on under the hood of their healthcare plan. They’re left in the dark because of limited access to data, billing statements without itemized, line-item costs, and “Revenue Neutrality Agreements” that sometimes allow providers to be paid more than they bill. Doug believes commercial insurance plans serve as an ATM for hospitals at the employers and patients expense, all because no one is monitoring, auditing, and demanding to see what’s getting billed, what’s getting paid, and why. And with the employer fiduciary duty under ERISA, this could be a costly oversight for employers that may lead to lawsuits in the future.
Doug works primarily with employers who have self-funded plans and reference-based pricing plans. He develops direct contracts with Hospitals and Providers on behalf of employers and their employees. For Doug, a successful agreement with a provider should be simple; only clean claims are paid, all claims are auditable, price is reasonable and there is a benefit incentive for employees to receive care at the facility. More importantly, a safe harbor has been created where the employee can receive care without having to worry about balance bills which are not allowed under the contract. With his day to day work and advisory position at RIP Medical Debt, Doug is making a positive impact in the healthcare industry and we’re excited to see him keep up the good work.
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In this episode, Michael introduces Mike Poelman, the founder and president of Apta Health. Although Mike started his career as an accountant and controller, he quickly realized that he was a salesman at heart so he shifted into the TPA world working on self-funded health plans. This is where he realized that things needed to be done differently. Mike saw that lack of transparency and collusion were the biggest problems in the industry, and legacy solutions simply weren’t designed to provide employers what they needed, which is what inspired him to create a number of companies, including Apta Health.
Apta Health aggregates middle market employer groups under one umbrella so they can benefit from care coordination and cost containment solutions that are typically only available to Fortune 500 size companies. This member centric approach allows more effective customer service, higher member engagement by a team of experts/advocates to reduce provider gaps, contain costs, and improve the member journey. In fact, 88% of employees engage with a care coordinator even before a claim enters the system, which is unheard of in the industry.
The team at Apta Health has an NPS rating of over 70 for their members, employers, and providers because of their attention to the customer experience first and the TPA second. Apta Health has an exciting future ahead. They’ve recently won the 2020 Health Value Award from the Validation Institute and look forward to continuing their use of analytics and data to empower brokers and employer groups to make easy, cost-effective decisions.
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In this episode, Michael introduces Dr. Simon Mathews, a distinguished researcher, clinician, author, and Chief Medical Officer at Vivante Health. He is also a practicing gastroenterologist at the John Hopkins School of Medicine and the Head of Clinical Innovation at John Hopkin’s Armstrong Institute of Patient Safety and Quality.
Simon’s research centers around understanding and improving the quality of digital health for patients. Unfortunately, he finds that the key issues in healthcare revolve around inefficiency, fragmentation, and a lack of a team-based approach that is centered around the patient’s best interest. This inspired him to work with Vivante Health, so patients with digestive issues could get the personalized, tech-forward support they need to heal. And with digestive disorders—everything from reflux to IBS to autoimmune disorders—making up a burden of $136 billion dollars on an annual basis, it’s clear that there’s a serious need.
Vivante Health serves the large, underappreciated, and sometimes stigmatized realm of digestive disorders with a comprehensive and personalized digital platform. Patients are provided with a care team, including a licensed dietician and health coach, and their progress is supported with app reminders, appointment support, check-ins, and progress reports. Although tech is leveraged to best support the patient and their results, it’s the care team outreach and their personal touch that bridges the gap for truly positive user experience and improved outcomes.
The care team at Vivante Health has an NPS rating of nearly 80. They work primarily with employers and are flexible in the way they integrate with new and existing systems. Although excited for everything currently underway, Simon looks forward to more clinical pathways and screenings in the future to continue to help patients quietly or outwardly suffering from digestive disorders.
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In this episode, Michael introduces Dawn Cornelis, the co-founder and Chief Transparency Officer of ClaimInformatics. ClaimInformatics is a payment integrity solution that helps its clients identify improper healthcare claim payments and recoup the money for the employer.
When Dawn entered the world of claim processing 30 years ago, it didn’t take long for her to see that money was being wasted on a massive scale via unnecessary procedures, upcoding, bad systems, and egregious contracts. Unfortunately, there’s more abuse now than ever. With 3-7% of healthcare claims being inaccurately paid, it’s grown to be a problem that is worth over a trillion dollars. This inspired her to co-found ClaimInformatics to catch errors, fraud and contain costs for members. She emphasizes that these costs aren’t savings, it’s money that shouldn't have been paid in the first place.
ClaimInformatics has a process where they are able to identify six levels of errors that lead to overpayments, including upcoding, miscoding and outright fraud. They review ASO/TPA network agreements, acquire and review all data, re-adjudicate claims, then share the results with clients to illustrate the level of overpayment in their plan. From there, they initiate the recovery process where they typically recover 80% of improper payments on behalf of the employer. In addition to recouping money for the employer, they put providers on notice who are engaging in egregious billing practices that they are now being watched and will be reported to the Network and Medical Board if behavior continues.
ClaimInformatics works primarily with clients who are self-funded and under ERISA guidelines. They have flexible fee structures with aligned incentives to generate results for their clients. Dawn recommends everyone take a hard look at their reports, review their ASO agreement, and become acquainted with their performance audit terms. ClaimInformatics stands for integrity and member-centric service, and we’re excited to see how they continue on this trajectory into the future.
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In this episode, Michael introduces Jim Wachtel, the Executive Vice President of Sales and Marketing for Renalogic. Renalogic is dedicated to helping employers manage kidney disease in their employee population and reducing dialysis costs with preventive programs and pricing solutions.
Jim was inspired to enter the healthcare industry because he recognized the cultural issues around healthcare. He wanted to support a company that not only helps make treatment accessible to those who need it but also takes measures to prevent chronic illness in the first place.
With this mission in mind, Jim found Renalogic. Renalogic works to reduce the costs associated with dialysis — a treatment for End-Stage Renal Disease (ESRD) — and offers a Kidney Dialysis Avoidance Program for at-risk members. Kidney disease is known as “the silent killer” for a reason: It is estimated that 40% of people with kidney disease don’t know it. And if it progresses from Stage 5 to ESRD and dialysis begins, treatment is expensive — up to $1.3 million per year, per member.
Renalogic started with cost-containment solutions, but their goal is to actually put their cost containment business out of business and focus on prevention instead. They have had a 99.3% success rate of keeping people off dialysis and have, in many cases, helped members reverse their kidney disease. They do this with personalized coaching that empowers participating at-risk members to take charge of their health. This, in turn, creates a ripple effect in their families that inspires cultural change one household at a time.
As far as payment goes, Renalogic imposes payment on the dialysis provider and works to ensure Medicare is maximized for those who qualify, even before the age of 65. They have a proprietary way to re-price claims in a way that is fair and defensible. For their Kidney Disease preventive program, they have a pay-for-performance structure and only bill for employees that have signed up to work with their nurse practitioners/coaches.
Renalogic has an exciting future ahead that includes a data service that will allow better service for those at-risk for kidney disease. And with a big vision that includes a healthier culture through education, empowerment, and preventative support, we are excited to see how the trickle-down effects of Renalogic’s efforts play a role in the health of future generations.
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In this episode, Michael introduces Dr. Cristin Dickerson, a founding partner at Green Imaging, a full-service virtual medical imaging network owned and operated by board-certified radiologists.
Dr. Dickerson founded Green Imaging to provide affordable, high-quality medical imaging for uninsured and high-deductible patients across the U.S. While she was working for a radiology group in Houston, she realized that she didn’t have control over many aspects of quality or her hours, and everything in Houston was extremely overpriced for patients. Instead of opening a brick-and-mortar center, she instead found imaging centers that were at 50% capacity and bought their unused time at a discount. These were savings that she could then pass on to the patient.
Green Imaging also reverses the traditional billing model so they’re in control of the finances and eliminate the issues that come from split billing. Although pricing can fluctuate in different geographic markets, they’ve still been able to achieve up to 60% savings relative to insurance carrier network discounts. Green Imaging is seen as a great referral source for many imaging centers, driving utilization by helping employers communicate the benefit of their service. They are appreciated by patients, employers, and centers alike, and have a 4.9 average star rating to prove it.
Green Imaging has partnered with 1,400 imaging centers and counting, and they are currently serving 250,000 lives across the country. With more employers looking for affordable and creative solutions for their employees, we’re excited to see Green Imaging grow through aligned incentivization, affordable costs, and quality service.
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In this episode, Michael introduces A.J. Loiacono, the CEO at Capital Rx, a pharmacy benefit manager seeking to create the first efficient and transparent marketplace for prescription prices and ultimately reduce prescription costs for employer groups.
A.J. has over 20 years of experience in pharmacy benefits, finance, and software development. Although he never thought he’d end up in the same industry as his father, he loved the nature of pharmaceuticals and recognized the inefficiencies within the system. He realized that, although every other industry has changed massively over time, pharmacy benefits have gone largely unchanged for over 20 years.
The problem with the pharmaceutical industry is that buyers (employers) and sellers (pharmacy stores) haven’t been able to communicate freely about pricing. Instead, they communicate through a PBM that inflates and distorts the true cost of the drugs. Capital Rx’s mission is to redefine the way prescriptions are priced and administered in the U.S. so there is more transparency and directness between buyer and seller. They do this through their proprietary Clearinghouse Model℠ that uses NADAC or National Average Drug Acquisition Cost to eliminate prescription drug price variance that is standard when using the AWP (Average Wholesale Price) + discount model. Capital Rx prides itself on its focus on administration and care, not price manipulation and setting. They have a high-touch process that both employers and patients appreciate and an NPS score of 92 to prove it.
The Capital Rx platform is designed to create maximum value for the employer and employee and includes low net cost formularies, simplified/transparent contracts, and rebate guarantees, and high touch service and reporting for both the employer and consultant. With success stories abound and a transparency-based model, we’re excited to see how Capital Rx continues to redefine the pharmacy benefits space long into the future.
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In this episode, Michael introduces Jason Hellickson, the CEO of Regenexx, a global provider specializing in interventional orthopedics. Regenexx partners with self-funded employers to significantly reduce their orthopedic spending while providing employees a choice in care. Regenexx orthopedic procedures leverage the body's natural healing ability to repair damage to bones, muscles, cartilage, tendons, and ligaments non-surgically and with great outcomes.
Jason is a long-time athlete who underwent shoulder surgery in 2008. Although the surgery was deemed “successful”, the fact that it took him 12 months to recover, 12 months to swim again, and lasting pain caused him to question whether there were better alternatives. Years later, when he received the same prognosis on his other shoulder, he insisted on an alternative. With Regenexx he was able to swim again just 6-8 weeks after the procedure. He learned that Regenexx could be offered through a self-funded health plan, so he partnered with them as an affiliate and then later became the CEO.
Jason believes that our orthopedic care continuum needs a reinvention because surgery is no longer the only option. With almost 6% of GDP spent on elective orthopedic surgeries a year and about 50% deemed ineffective, the reinvention includes new and advanced “interventional orthopedics” that cut costs, are less invasive, and frequently allow patients to avoid surgery altogether.
Regenexx is backed by clinical research, saves employers up to 70% on elective surgeries, and saves patients the pain, recovery time, and uncertainty of surgery. And with a research-based and outcomes-monitored model, they are transparent, ensure a high standard of care and have a comprehensive accreditation process to be part of their provider network. They work with employers as a direct contractor and help educate members on the benefits of interventional orthopedics so members are informed and know it’s an option to consider in lieu of invasive surgery.
With a Net Promoter Score of 74, their education and service are clearly working. In addition to high member satisfaction, Regenexx has also recently been awarded the Traction Award at the Employer Health Innovation Roundtable. Just from the event, 12 large employers agreed to move forward with Regenexx - a big win that seems to be just the beginning of an exciting road ahead.
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In this episode, Michael introduces you to Sachin ‘Sach’ Jain, CEO of Carrum Health. Join us as we discuss how Carrum Health has created an alternative marketplace for lower-cost surgical procedures with a focus on creating an exceptional employee experience.
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