Self-Funded With Spencer Spencer Smith

"If you do hard things now, your life will be easy in the future. If you do easy things now, your life will be hard in the future." - Nick Bellanca



Nick Bellanca joined me this week to get his perspective on something we don’t get a lot of on the show: selling as a consultant. 



Nick and I talked about his upbringing, how he got onto the football team at the University of San Diego, and starting out working at a carrier (which he says is a great place for people to start in this industry).



Nick actually found himself working at a genetic testing startup for a number of years before transitioning into a sales role at MMA. I was interested to hear his outside perspective on selling as a consultant in the current insurance industry and what it takes to stay disciplined, as a human and as a salesman. 



Whether you’re just starting out in sales, you’ve had a long career selling, or you don’t have anything to do with it, you’ll enjoy getting to hear Nick’s perspective on what it takes to make it in the current industry.



Chapters:



00:00:00 Meet Nick Bellanca / Running Marathons



00:07:44 Majoring In Accounting, Stumbling Into Sales


00:15:11 The World of Genetic Testing Benefits


00:17:49 The Challenge And Opportunity Of Changing Roles
00:22:01 Growth Mindset / Effective Communication In Sales
00:41:13 Wellness Programs / Wearables
00:52:41 Do The Hard Things Now





Key Links for Social:



@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded



Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02



Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286



Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/



Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/



Key Words: 

#CareerChoices #FinancialMotivation #SalesInsights #Adaptability #GeneticTesting #HealthcareInnovation #CareerTransition #PersonalGrowth #WorkLifeBalance #YouthfulMindset #EmployerWellness #SuccessPathway #selffunded #podcast

Career Choices, Financial Motivation, Sales Insights, Adaptability, Genetic Testing, Healthcare Innovation, Career Transition, Personal Growth, Work Life Balance, Youthful Mindset, Employer Wellness, Success Pathway, self funded, podcast


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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support

"When your brain is programmed that the only way it can be done is through submitting your insurance and when your brain has been for years and years and years that accepting cash is criminal, it's very hard to break that." - Dr. K

My good friend Dr. K, founder of the NTTC Surgery Center and Hinkapin Health, joined the show to shed further light on what upfront pricing and value-based healthcare can do for this industry, employers, and patients. 

Dr. K came to America from India, and we discussed what it was like to encounter our health insurance for the first time was like as a physician. We discussed what lead him to choose Texas for his surgery center, why a surgery center is better and more cost effective than a hospital for surgery, and how he was able to determine pricing for his cash-based practice. 

Since founding NTTC Surgery Center near Dallas, Dr. K has stayed ambitious and is aiming to expand this model nationwide through Hinkapin Health. 

When practices publicly display prices and are able to compete with other practices to win business, everybody benefits; it’s a fundamental benefit of capitalism, and I’m always glad to be able to highlight practices like Dr. K’s. 

Chapters:
00:00:00 Meet Dr. K

00:06:56 An Outside Perspective On US Health Insurance
00:15:25 Lowering Costs Through Bundled Procedures
00:20:11 Building Out Upfront Surgical Costs
00:22:14 The Importance Of Transparency In Bundled Procedures
00:27:30 Infection Rates Are The Key Indicator Of Quality
00:53:46 Why We Need Value-Based Healthcare

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

Key Words: 
#healthcareinnovation #bundledsurgery #transparentcare #ambulatorysurgery #costeffectivehealthcare #qualitycare #healthcarecosts #emerginghealthcare #patientcentric #affordablehealthcare #healthcaresolutions #healthcarefuture #selffunded #podcast
healthcare innovation, bundled surgery, transparent care, ambulatory surgery, cost effective healthcare, quality care, healthcare costs, emerging healthcare, patient centric, affordable healthcare, healthcare solutions, healthcare future, self funded, podcast

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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support

“It's the second largest line item that a company has, but they will stroke a check every month for a fully insured program without having data to support what those costs are for.” - Stephanie Koch



Stephanie Koch joined the show to share what it was like to work in benefits and HR in a fully funded company before moving to one that self-funds. 



I invited Stephanie on to hear the employer perspective on the industry, but ended up getting so much more, as she’s truly on the cutting edge of healthcare benefits for her company Hendry Marine. We discussed what it’s like to deal with Reference-Based Pricing as an employer, why mobile clinics save lives and are crucial to self-funded plans, and why it’s so important to seek out nontraditional healthcare solutions in the current market. 



No matter what aspect of our industry you work in, everything we do is for employers and employees, and there’s so much insight to gain from forward-thinking benefits managers like Stephanie. 



Chapters:

00:00:00 Meet Stephanie Koch

00:01:36 Empowering Employers in Self-Funded Healthcare Systems
00:12:37 Challenges in Renewing Fully Funded Healthcare
00:32:44 Maximizing Healthcare Savings Through Reference Based Pricing
00:43:13 Evolving RBP Plans for Employee Benefits
00:51:56 Early Detection Incentives Through Preventive Wellness Exams
01:03:07 Strategic Healthcare Partnering for Self-Funding Success



Key Links for Social:



@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded



Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02



Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286



Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/



Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/



Key Words: 

#SelfFundedHealthcare #ReferenceBasedPricing #EmployeeBenefits #DataAnalysis #PreventiveExams #OnsiteClinics #CostSavings #ConsultingPartners #HealthcareImprovement #RBPStrategies #HealthcareCosts #TransparentSystem #selffunded #podcast

Self Funded Healthcare, Reference Based Pricing, Employee Benefits, Data Analysis, Preventive Exams, Onsite Clinics, Cost Savings, Consulting Partners, Healthcare Improvement, RBP Strategies, Healthcare Costs, Transparent System, self funded, podcast


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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support

“I realized that 95% of the scheduled surgeries, like shoulder/knee repairs, back fusions, even some pelvic floor surgeries, they're no more effective than doing nothing at all, on average.” - Heidi Ojha

Heidi Ojha, founder of Aware Health and recently a part of our MSK roundtable, joined me this week in studio to talk about why there are so many unnecessary surgeries performed in this country, why these surgeries happen in the first place, and how she’s trying to change that.

Heidi’s worked as a clinician before founding Aware and estimates that about 95% of scheduled surgeries led to no more positive outcomes than doing nothing at all. This is especially alarming given that MSK is the biggest chronic spend on most health plans.

Heidi and I also expanded on the notion that behavioral health plays a huge part in why and how so many surgeries are performed.

Outside of the cost to the plan, unnecessary surgeries are often risky for the patient and can lead to complications, and even other surgeries that add even more risk. Join us this week to find out how we can stop unnecessary surgeries from happening.

Chapters:
00:00:00 Meet Heidi Ojha
00:09:14 Exploring Non-Invasive Healthcare Options
00:15:33 MSK Chronic Spend
00:18:14 Managing Surgery Claims for Cost Savings
00:27:11 Incentivize Care, Not Profit
00:35:08 Claims Data Impact on Diagnostic Accuracy
00:41:13 The Necessity Of Imaging
00:50:14 Patient-Centered Approach To Healthcare

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

Key Words:
#MSKHealthcareCosts #ConservativeCare #BehavioralHealthExpenses #EmployerPlanSpend #FeeForServiceModel #DataAccessibility #DiagnosticAlgorithms #PatientEmpowerment #HealthcareSystemsOptimization #AvoidingSurgeries #ChronicHealthcareSpending #PatientCenteredCare #selffunded #podcast
MSK Healthcare Costs, Conservative Care, Behavioral Health Expenses, Employer Plan Spend, Fee For Service Model, Data Accessibility, Diagnostic Algorithms, Patient Empowerment, Healthcare Systems Optimization, Avoiding Surgeries, Chronic Healthcare Spending, Patient Centered Care, self funded, podcast


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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support

“In what other industry are you just not covered up with business if you're cheaper and better? This is America, for God's sake." - Keith Smith



This is a special episode with a special guest: Dr. Keith Smith from the Surgery Center of Oklahoma. Keith realized in the 1990s that the surgery system in America was exploitative and unfair, and decided to “rebel”, setting up a “parallel market” to sell surgeries direct to consumer at a listed price without any middlemen.  



The idea of a consumer knowing the price ahead of purchasing a service (and not being charged afterward!) seems fundamental and obvious in every industry in our country, but it’s a completely revolutionary way of doing business in the healthcare industry. I talked with Keith about what made him realize that there had to be a better way of doing business, what it was like to be such a trailblazer, and why publicly posting his prices on his website was such a big deal. 



If you want to hear an amazing conversation with a doctor who’s made real change in curbing price gouging in our industry, tune in this week on Self-Funded with Spencer with Dr. Keith Smith. 



Chapters:

00:00:00 Meet Dr. Keith Smith

00:00:20 Spencer’s Son’s ER Trip
00:05:53 Transparent Surgical Bundle Pricing
00:22:17 Setting Surgical Prices Over The Phone
00:24:30 Allowing The Market To Drive Prices
00:40:21 Empowering Consumers By Posting Prices Online
00:42:30 Incentivizing Informed Healthcare Choices
00:53:03 Teaching Consultants On This Model
01:06:34 The Return To Free Market Healthcare



Key Links for Social:



@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded



Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02



Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286



Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/



Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/



Key Words: 

#DirectPricingModel #HealthcareTransparency #BundledSurgicalProcedures #PackagedPricing #SelfFundedEmployers #ZeroDeductible #ConsultantsInHealthcare #FreeMarketHealthcare #HealthcareCostSavings #TransparentHealthcare #BetterHealthcareChoices #ConsumerCentricHealthcare #selffunded #podcast

Direct Pricing Model, Healthcare Transparency, Bundled Surgical Procedures, Packaged Pricing, Self Funded Employers, Zero Deductible, Consultants In Healthcare, Free Market Healthcare, Healthcare Cost Savings, Transparent Healthcare, Better Healthcare Choices, Consumer Centric Healthcare, self funded, podcast


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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support

"No one wins alone. And you know what? You can't do it on your own." - John Butler



John Butler, from JB Benefits Consulting, joined the show this week to talk the big-picture future of health insurance. 



From AI sales tools to ICHRA plans to Health Sharing Plans, John Butler is constantly thinking about the future of this industry, and it was fun to hear about how his life experience as a consultant led him to where he currently is. 



John and I also focused on making Americans actually healthier and how that could shift us away from the current “sickcare” mentality into an actually health-focused healthcare system. 



Join us this week on Self-Funded as we focus on the future! 



Chapters:

00:00:00 Meet John Butler

00:02:48 Driving Awareness of Health Solutions in Businesses
00:08:29 Managing Insurance Benefits for Employer Clients
00:12:46 Revolutionizing Sales and Marketing with AI Voices
00:15:38 Regenerative Medicine: Healing with Stem Cells
00:18:11 Health Sharing: A Cost-Effective Employer Solution
00:24:08 Real-time Reimbursements and Efficient Healthcare Solutions
00:31:47 Customized Healthcare Benefits for Cost Efficiency
00:34:22 Innovative Healthcare Models for Cost-Effective Care
00:51:17 Health Sharing Communities Transform Healthcare Insurance
00:52:30 Real-time Reimbursement Health Sharing Plans



Key Links for Social:



@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded



Listen on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02



Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286



Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/



Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/



Key Words: 

#MarketingAwareness #BrokerBusiness #AIinSales #StemCellHealthcare #EmployerCostSavings #HealthcareTechnology #EmployeeBudgetOptimization #CostSavingsStrategies #FutureHealthInsurance #HealthInsuranceInnovation #SelfInsurance #FullyInsuredPlan #selffunded #podcast

Marketing Awareness, Broker Business, AI in Sales, Stem Cells, Employer Cost Savings, Healthcare Technology, Employee Budget Optimization, Cost Savings Strategies, Future Health Insurance, Health Insurance Innovation, Self Insurance, Fully Insured Plan self funded, podcast


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Support this podcast: https://podcasters.spotify.com/pod/show/spencer-harlan-smith/support