Revolutionizing Healthcare: CrowdHealth's Alternative to Traditional Insurance

Joincrowdhealth.com

About the Guest(s):

Andy Schoonover, an innovative entrepreneur and former executive, has made significant strides in redefining the healthcare landscape. With a BS in Commerce from the University of Virginia, Andy gained extensive experience at Host Marriott Corporation, managing over $1.5 billion in transactions. His entrepreneurial journey flourished at Stanford Business School, leading to the co-founding of Blue Canyon Capital, where he achieved a tenfold return on acquisition. As the founder of CrowdHealth, Andy is committed to making healthcare accessible to everyone. CrowdHealth empowers individuals to navigate medical expenses more efficiently, save significantly on healthcare costs, and access superior care.

Episode Summary:

In this engaging episode of The Chris Voss Show, Chris Voss sits down with Andy Schoonover, the founder of CrowdHealth, to explore his groundbreaking approach to transforming the healthcare system. Andy shares his journey from managing substantial transactions at Marriott to co-founding Blue Canyon Capital and, ultimately, establishing CrowdHealth. He discusses his company's innovative business model, which aims to eliminate traditional health insurance, allowing individuals to pay doctors directly and avoid bureaucratic obstacles.

The conversation dives deep into the mechanisms of CrowdHealth, emphasizing how it empowers its community members by reducing healthcare costs through direct payment and negotiation of medical bills. This alternative model retains transparency by letting members see where their contributions are going and fosters a supportive community that shares the financial burden of medical expenses. With over 10,000 participants actively engaging in funding each other's healthcare needs, CrowdHealth has successfully created an enticing alternative to the complex and often frustrating world of health insurance.

Key Takeaways:

Breaking the Health Insurance Model: CrowdHealth provides an alternative by allowing direct payments to doctors, bypassing middlemen and reducing costs.

Community Funding: Members contribute $55 monthly and are occasionally asked to donate up to an additional $140 to help others in the community with significant medical expenses.

Cost Savings: On average, members save 40-50% compared to traditional health insurance, demonstrating the financial efficacy of this model.

No Network Restrictions: Members have the freedom to choose any healthcare provider, facilitating access to alternative and traditional medical care alike.

Incentives for Healthy Living: CrowdHealth offers discounts to those maintaining healthy lifestyles, similar to premium reductions for safe drivers in car insurance policies.

Notable Quotes:

"We're trying to ditch health insurance. We're trying to give people a real alternative to health insurance." – Andy

"When you get your care and then don't worry about the price later until you get something in the mail. And you hope the health insurance plan is gonna pay for it." – Andy

"200,000 families last year went bankrupt due to a medical expense, even though they had health insurance." – Andy

"If you have the buyer of a service and the seller of the same service both wanting the price to go up… the price is gonna go up." – Andy

"We can find you a really good [doctor] at a really reasonable price." – Andy