Self-Funded

"The only thing that will fix healthcare is restoring the doctor patient relationship without anybody in between it." - Emma Fox Emma Fox joins me on this special pre-YouPowered Symposium episode to talk about her healthcare journey, from moving to America and discovering just how broken our system was for the first time to recently meeting with the President to discuss what needs to be done.  Emma’s early experience with medical debt and medical bankruptcy inspired her huge passion for transparency and change in this industry. We talk about what can be done in the current system, what needs to be torn down and rebuilt, and how helping people on Reddit is playing a small part in getting more people aware of what needs to be done. My conversation with Emma Fox not only underscores the urgency for transformative changes in healthcare, but also the impact that personal narratives and direct doctor-patient relationships have in shaping a healthier, more just future for us all. Chapters: (00:00:28) The Importance Of Physical Fitness As We Age (00:06:34) Dealing With Overwhelming Medical Debt (00:10:10) Becoming A First-Time Entrepreneur (00:17:00) Creating a Transparent and Inclusive Healthcare System (00:20:51) Restoring the Doctor-Patient Relationship: DPC for All (00:24:39) Optimizing health insurance for cost reduction (00:29:53) Understanding the distinction between healthcare and health insurance (00:35:25) Breaking down healthcare jargon for better understanding 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: Healthcare Reform, Transparency, Physical Fitness, Healthcare Advocacy, Medical Debt, DPC For All, Healthcare Education, Self Funded, Health Insurance Podcast

"If you show me the incentives, I'll show you the outcomes." - David Contorno "I want to fix the healthcare system. My mission ended up being to correct the injustices I find in the healthcare system as I find them. And that's what I do every single day." - Emma Fox On this bonus episode of Self Funded With Spencer, I sat down with David Contorno and Emma Fox for this bonus episode focusing on how their aligned views on the healthcare landscape led to their marriage and their mutual business ventures.  We dive into how David started in this industry at the age of 12 (!), how the vision of the YouPowered Symposium came to life, and what it’s like to be married to your business partner. Be sure to check out this week’s full episode with David Contorno, and next week’s episode with Emma Fox. For more information on the YouPowered Symposium, check out YouPoweredSymposium.com. Chapters: (00:04:05) Passionate For Change (00:09:00) Making Gradual Changes for Long-Term Health (00:13:25) Correcting Healthcare Injustices: Emma and David's Mission (00:16:13) Ethical Insurance and Transparent Health Consulting (00:20:07) Creating Lasting Impact in Healthcare Discussions (00:31:30) Realignment for Health and Well-being in 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: Healthcare Reform, Transparency, Health Insurance Industry, Healthcare Advocacy, Health And Wellness, Healthcare Industry, Misaligned Incentives, Healthcare Priorities, Self Funded, Health Insurance Podcast

"Health insurance has been so perverted that it becomes the one insurance that we go bankrupt when we use." - David Contorno I was super grateful to have David Contorno, founder of e-Powered Benefits, join me on the podcast for a conversation covering many aspects of the healthcare landscape, from how brokers can think outside the boxes to change the industry to how we need to change the way employers look at wellness plans. At a time when the average family premium is over $23,000 a year, there’s significant financial strain associated with healthcare that can and does lead to bankruptcy when healthcare services are actually used. David is a huge name in the healthcare landscape, so I was eager to get his thoughts on reforming the current system vs. completely rethinking how we approach healthcare in the first place. Join David and I on today’s show as we discuss, among other things, the future of what we do.  Chapters: (00:01:53) Introducing David Contorno (00:09:32) The Financial Burden of Health Insurance In 2023 (00:13:46) Investing in Employee Well-being for Cost Savings (00:17:40) Strategic Approaches to Lower Healthcare Costs (00:23:16) Leveraging Employer Resources for Healthcare Improvements (00:27:07) The Diminishing Value of Insurance Networks (00:34:33) Leveraging Employer Influence to Transform 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: Healthcare Reform, Wellness Programs, Accurate Diagnoses, Cost Of Health Insurance, Innovative Approaches, Employer Power, Utility Of Networks, Changing Healthcare, Smaller Employers, Self Funded, Health Insurance Podcast

"If we can take that [financial] anxiety away from them to where they can focus on their health, that's our mission, that's our cause. That's what we want to do." - Brett Morris Brett Morris joins me on the podcast for a conversation revolving around the Samaritan Fund Program, which he developed to help those individuals and families who have been physically and financially devastated by a medical diagnosis.  He directly works with employers and employees, helping to mitigate high-cost medical expenses on the employer’s end while enabling them to help their employees when they most need it. An interesting side effect of the Samaritan Fund is that it enables employers who would otherwise go fully insured due to specific high-cost claims to afford self funding their business. Join us on today’s show as we talk about the human impact of the Samaritan Fund and Brett’s unique approach to helping employees and employers.  Chapters: 4:53 - What Is The Samaritan Fund? 10:26 - The Role of The Samaritan Fund in Employee Benefits 23:55 - Connecting Employers and Individuals in Need 31:04 - Financial Hardship Caused by High Cost Prescription Drugs 35:16 - Paycheck Donations: Empowering Employees to Give 42:21 - Reducing Expenses through Alternative Healthcare Plans 52:57 - Transparent Pricing: Empowering Consumers in 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: Employee Benefits, Financial Relief, Employer Support, Helping Those In Need, Good Samaritan, Medical Costs, Prescription Drugs, Giving Back, High Cost Claims, Medical Claim Relief, Risk Mitigation, Healthcare Costs, Innovative Solutions, Self Funded

In this special episode of Self-Funded with Spencer, I am joined by my friend Seth Denson for my first ever live version of the podcast through LinkedIn Live. This episode was previously recorded on 12/20/23, but I wanted to make sure that those who missed it on LinkedIn, still had an opportunity to watch and listen. Seth is the Head of Employee Benefits at Acrisure and he also features daily as a sought after business and market analyst for Fox News, CNN, NewsMax, OANN and more. In this spirit of an AMA, no question was off limits, so we covered things like: Our Hair Routines Seth's Media Life Whether we wear makeup! The role of Wellness Benefits Thoughts on RFP Software ParetoHealth (Captives) Seth's time working at a concert venue Our favorite bands to see live Our 3 favorite books And more! Social Links: Self-Funded's Channel - https://www.youtube.com/ @SelfFunded Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/ Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

Advanced Medical Strategies - Stacy Borans - Founder of AMS Stacy Borans is a seasoned expert in healthcare technology and data analysis, with a robust background in medical cost management. As a key player at Advanced Medical Strategies (AMS), she has been instrumental in developing software solutions for payment accuracy, risk assessment, and business intelligence in the healthcare industry. Her perspective on healthcare technology and data analysis in medical cost management is shaped by her experiences at AMS, where she noticed excessively high bills during medical reviews and saw an opportunity to work on the financial aspect of cost management. Stacy advocates for transparency in chargemaster pricing and cash pricing, and emphasizes the importance of reference-based pricing. She believes that these strategies can help determine the relevant charge for medical services, although she acknowledges that it may not always result in the lowest price. Join Spencer Smith and Stacy Borans as they delve deeper into this topic on the next episode of the Self Funded podcast. Chapters: 00:01:08 Creative cocktail concoctions 00:06:46 AMS: Innovating Healthcare Management Solutions 00:10:43 Understanding the Financial Impact of Self Funding 00:16:21 Shaping the Future of Healthcare Cost Containment 00:21:13 Healthcare Solutions for Complex Medical Cases 00:27:24 Catastrophic Diagnoses Cost Projections Software 00:33:09 Comprehensive Risk Assessment and Pricing Tool 00:40:38 Achieving Transparency in Healthcare Decision-Making 00:46:32 Analyzing Group Risk Profiles Using Census Data 00:56:26 The Impact of AI on Healthcare Diagnoses Key Links for Social Self-Funded's Channel - 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 Listen on Spotify for Podcasters - https://podcasters.spotify.com/pod/show/spencer-harlan-smith Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/ Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/ Key Words: Medical Strategies, Claims Strategies, Data Analytics, Business Intelligence, Business Intelligence Software, BI Software, Claims Analytics, Insurtech Software, Software for Underwriters, Systems for Carriers, Software for Insurance Carriers, Technology for Insurance, Technology for Insurance Brokers, Tech for Insurance Consultants, Tech for Healthcare, Software for Doctors, Software for Third Party Administrators

Josh Honaker is a seasoned pediatrician from South Central Kentucky, renowned for his expertise in integrating telehealth and education in pediatric healthcare. He currently serves as the CEO of Parent MD, a platform that embodies his belief in the necessity of Telehealth and education as solutions to common frustrations and disconnects in pediatric healthcare. Dr. Honaker's perspective is shaped by his experiences with time constraints and high patient volumes, which often leave parents feeling frustrated and uninformed. He sees Telehealth and education as vital tools to improve healthcare access and provide parents with reliable information and resources. Honaker envisions Parent MD as a platform that unites Telehealth partners, educational content, and a supportive community to enhance the medical home and provide comprehensive care for children. Join Spencer Smith and Dr. Josh Honaker on this episode of the @SelfFunded with Spencer podcast to delve deeper into this innovative approach to pediatric healthcare. Key Words: Telehealth, Direct Primary Care, DPC, Pediatrics, Pediatrics Telehealth, Parents, Education for Parents, Community for Parents, Resources for Parents, Employee Benefits for Parents, Healthcare, Employee Benefits, Benefits Brokers, Insurance Brokers, Insurance Consultants, Employer-Sponsored Healthcare, Innovations in Healthcare Key Links for Social Self-Funded's Channel - 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 Listen on Spotify for Podcasters - https://podcasters.spotify.com/pod/show/spencer-harlan-smith Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/ Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/ Chapters: 00:00:00 Virtual Pediatrician Partnership for Holistic Childcare 00:03:57 The Impact of Mentorship on Choosing Pediatrics 00:14:56 Entrepreneurial Pediatric Care: A Unique Approach 00:21:44 Virtual consultations for comprehensive pediatric care 00:28:58 "Comprehensive Digital Resource for New Parents" 00:37:39 Expanding direct-to-consumer model to employers 00:43:48 Future plans for personalized nutrition education 00:46:22 Transforming Healthcare Delivery for Cost-Effective Care 00:52:11 Revolutionizing Healthcare with AI 00:56:11 Advancements in healthcare for optimal human health

How Should Insurance Brokers Get Paid - Jonathan Lopez Jonathan Lopez's career journey is a testament to the power of hard work and continuous learning. From a shoulder injury in the Marine Corps to earning a doctorate in leadership, Lopez has overcome obstacles and embraced opportunities to shape his professional path. Lopez's commitment to helping others extends beyond his career. He is actively involved in fundraising for wells in Tanzania through the Water Boys organization. This philanthropic effort not only builds wells but also ensures their maintenance and management, providing clean water to communities in need. In a recent episode of the podcast "Self Funded," hosted by Spencer Smith, Lopez and Smith delve into the complexities of incentives in the insurance industry. They emphasize the importance of transparency and integrity in navigating this field. Lopez highlights the issue of misaligned incentives and what he refers to as "dark money," shedding light on the need for greater accountability. The conversation also touches on shared savings arrangements and compensation structures for consultants. The evolving landscape of the insurance industry demands a closer examination of who gets paid and how much at each step of the equation. Lopez and Smith recognize the need for more transparency and integrity in the industry, challenging the perception of insurance as a greedy or stagnant field. Comedy emerges as a powerful tool for delivering harsh truths and sparking meaningful conversations. Lopez and Smith discuss the influence of comedy in addressing industry issues and dispelling misconceptions. They highlight the role of comedians like Joe Rogan, who use their platforms to share perspectives and engage audiences through humor. Artificial intelligence (AI) emerges as a game-changer in the insurance industry, particularly in underwriting and prepayment of claims. Lopez emphasizes the benefits of AI in analyzing patterns and resolving issues efficiently. The vast amount of healthcare data available allows AI to make data-driven decisions, leading to more accurate risk assessment and cost-saving strategies. Chapters 00:03:29 From $20 to Doctorate: Overcoming Obstacles 00:06:46 Climbing Mount Kilimanjaro to Fund Wells 00:09:58 Sustainable well management for clean water access 00:19:48 Misaligned incentives and dark money in insurance 00:28:33 Incentivized cost savings through shared arrangements 00:34:34 Prescription-based Comp for Insurance Consultants 00:40:25 The Power of Comedy in Delivering Truth 00:41:48 AI's Impact on Claim Management in Insurance 00:50:45 Revolutionizing Underwriting with AI Technology 00:59:27 Optimizing Insurance Plans w/ Pre-Underwriting Analysis

In this episode of the podcast Self-Funded with Spencer, hosted by Spencer Smith and featuring Sam Moen, the co-founder of MD Direct, the discussion centered around MD Direct's unique approach to optimizing healthcare and nutrition. MD Direct is a healthcare company that aims to bridge the gap in hospital nutrition and diet, focusing on individual performance and optimizing knowledge to help patients achieve their health goals. One of the key factors that impact MD Direct's approach is the disconnect in healthcare, particularly in musculoskeletal (MSK) and orthopedic care. This category is the largest spending category for employers in healthcare, accounting for a significant portion of healthcare costs. Sam Moen, co-founder of MD Direct, emphasizes the importance of addressing this issue, stating, "Getting good musculoskeletal health is what we think is the most important problem for employers to solve." Orthopedic care alone accounts for 5.76% of the GDP, making it a significant financial burden on both individuals and employers. The prevalence of musculoskeletal injuries, coupled with the high cost of treatment, highlights the need for a more efficient and effective approach to healthcare in this area. MD Direct aims to optimize healthcare visits, reduce leakage, and improve overall efficiency in the healthcare system. They specialize in triaging patients and determining the most appropriate treatment pathway, prioritizing starting with the least critical intervention. By utilizing data from wearables and predictive analytics, MD Direct aims to improve patient care and outcomes. One of the challenges MD Direct faces is the traditional healthcare model, which is not designed for efficiency. Moen acknowledges this, stating, "The traditional healthcare model isn't designed for efficiency. Unfortunately for you and me, the efficiency really is for the physicians. For billing insurance companies." MD Direct aims to disrupt this model by focusing on delivering the best clinical model to patients, with a focus on rapid diagnosis and treatment. Another important aspect of MD Direct's approach is the integration of nutrition and diet into healthcare. Moen highlights the lack of understanding and coaching on nutrition and diet in hospitals, stating, "The hospitals don't understand anything about nutrition and diet. They don't coach you on anything." MD Direct aims to address this gap by creating a connection between health and wellness, providing patients with the necessary information and support to make informed decisions about their nutrition and diet. MD Direct also works closely with employers to create clinical pathways and engage employees when they need it most. Moen emphasizes the importance of financial incentives for employees, stating, "If you can get the financial incentive to the employees, that's a great way to see engagement tick." By designing benefit plans that make it financially beneficial for employees to choose MD Direct's approach, they aim to increase engagement and improve overall health outcomes. Chapters: 00:00:18 Revolutionizing Hospital Nutrition with MD Direct 00:01:23 The Impact of Gluten on Scandinavian Health 00:05:17 The Lizard Brain's Influence on Food Choices 00:07:44 Disparity in MSK and Orthopedic Care 00:08:30 Optimizing MSK and Orthopedic Care Efficiency 00:15:58 The Impact of Unnecessary Surgeries in Healthcare 00:21:28 High-Value Physical Therapy for Efficient Care 00:26:44 Improving Musculoskeletal Health for Employers 00:31:57 Utilizing MD Direct's Services for Employee Incentives 00:40:39 Reducing Unnecessary Surgeries 00:49:25 Wearable Data for Early Health Notifications

Recruit & Retain with Employee Benefits - Kyle Minick The evolving employer market is placing a greater emphasis on HR policies, benefits, and healthcare transparency. In this episode of the podcast "Self Funded" hosted by Spencer Smith and featuring Kyle Minick, the importance of these factors in talent management strategies was discussed. Traditionally, financial compensation has been the primary focus for employers when it comes to attracting and retaining talent. However, surveys have consistently shown that compensation is not the top priority for employees. Instead, factors such as flexibility and paid time off are often cited as more important. This highlights the need for employers to look beyond monetary rewards and invest in HR policies and benefits that foster a supportive work culture. Creating a sense of value among employees is crucial for retaining them. This can be achieved through leadership that demonstrates emotional attachment and loyalty. Employees want to feel that their employer cares about their success and well-being. HR policies and fringe benefits play a significant role in creating this sense of value. Offering assistance with buying a home or expanding financial futures are examples of how employers can show their commitment to their employees' long-term well-being. The insurance industry is also evolving to offer creative and tangible business solutions. Benefits are a major expense for businesses, and insurance companies are recognizing the need to go beyond traditional coverage. They are now focusing on HR policies, fringe benefits, and talent attraction and retention. Summit, a company specializing in benefits, insurance, and investments, is leading the way in serving businesses of all sizes, with a particular interest in blue-collar companies. They are also taking steps to address the high costs of specialty drugs through new pharmacy initiatives. Chapters: (00:00:08) Podcasts and Education in Employer Market (00:01:24) Creating a Culture of Employee Satisfaction (00:06:05) Creating a Supportive Environment for Employee Retention (00:10:09) Kyle's Journey in the Insurance Industry (00:16:00) Innovative Solutions in the Insurance Industry (00:24:52) Specialized Benefit Solutions for Businesses of All Sizes (00:30:43) Challenges and Solutions for Blue-Collar Companies (00:46:26) Pharmacy Initiatives: Addressing Specialty Drug Costs (00:51:49) Unveiling the Elusive Healthcare Expenses (00:58:08) Disruptive Innovation for Positive Change