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Hello, everyone. This is Jacob Emerson with the

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Becker's Pay Your Issues podcast.

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Thrilled today to be joined by a special

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guest. Doctor Shantanu Agrawal is the chief health

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officer at Elevance Health. Doctor Agrawal, thanks so

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much for taking the time to be with

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me on the podcast today.

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Happy to do so, Jacob. Thanks for having

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me. Yeah. And before we dive into everything

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we wanna talk with you about, can you

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tell us a little bit more about yourself,

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your background in health care, and what it

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is that you're doing today at Elevance Health?

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Sure.

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So I've been fortunate to have kind of

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an interesting journey in health care.

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I'm an emergency medicine physician by training, so

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I I sort of started my health care

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journey as a practicing clinician.

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From there, I went into healthcare consulting for

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a few years and that really helped me

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pivot out of sort of being a %

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clinician,

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learning some different skills that could be applied

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to different companies and organizations.

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I spent about six years at the Centers

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for Medicare and Medicaid Services,

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working on,

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program integrity issues there.

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From CMS,

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I ultimately kind of ended my role there

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in a political appointment.

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And so at the end of the,

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administration, I went over and became the chief,

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executive officer of the National Quality Forum, which

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is a nonprofit,

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based in DC that focuses on quality measurement

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and improvement.

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And then from there, I came to Hellevance

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Health, the role that I'm in now, as

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chief health officer.

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And here, I I get to work on

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a lot of, I think, very interesting things.

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I I focus on our whole health strategy,

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across the enterprise.

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I

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work my team works on, quality improvement across

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all of our,

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member populations.

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And then one of the things that I

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oversee, which we'll get to talk about today,

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is the Hellevance Health Foundation.

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Fantastic. Yeah. So let's dive right in and

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talk about that, doctor Agarwal, because we we

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we wanna hear a little bit about Elavance

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Health Foundation's impact investment in site services.

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It's a great example for the rest of

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the industry in terms of,

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what we've been seeing as a growing trend

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of health insurers taking a more active role

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in supporting social determinants of health, such as

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mental health services and access to care in

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underserved communities.

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So from your perspective,

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how do you see the role of of

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health insurers evolving in addressing

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these broader social needs? And what are some

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of the long term benefits for the industry

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and for a company like Elevance Health when

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when you invest in these community based initiatives?

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Yeah. That is a a great question, a

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big question. So just, taking a step back,

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you know, I think we increasingly realize

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that,

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social health is just as important as mental

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health and physical health. And in fact, those

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three components are really the center of our

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whole health strategy,

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in our company.

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So we believe if you address whole health,

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you will address quite naturally health care value

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and affordability

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because it will allow,

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us in this case to go beyond sort

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of the traditional health care environment and address

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the root causes of what often shows up

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in traditional health care. And so, you know,

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again, I think it's commonly known now in

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the field that 80% of what affects a

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person's health really isn't about what happens in

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the doctor's office. And I say that, of

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course, as a doctor, and I I think

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doctors are are incredibly important for the work

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that they do.

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They can't be responsible for everything that happens

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that ultimately affects a person's health.

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But I think we as a company really

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need to play our role in doing that.

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So whole health is really central to what

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we do. Why I think

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social,

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care matters is because

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a a big chunk of that whole health

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paradigm

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is, the social resources that a person has.

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That might be

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their social supports and whether or not they're

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socially isolated. It might be their access to

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healthy food.

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It it it might be their access to,

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you know, clean air, clean water, a clean

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environment, a place to work out, walk, exercise.

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So there's, you know, like, sort of that

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entire social ecosystem

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that surrounds a person. I've often said, you

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know, no one is really healthier than the

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community that that they're in.

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And so there's a lot that you can

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do as a company like ours to address

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some of these social context. I think it's

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critical to do because, ultimately,

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if you don't address root issues like the

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quality of the food that a person is

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eating, they will invariably develop chronic conditions like

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diabetes or hypertension

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that then show up in the ER or

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show up at the doctor's office. And as

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a payer, we're we'll certainly be responsible

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for the entirety of that journey. So why

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not put our, resources

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earlier where we can really affect a person's

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life, hopefully stem chronic diseases from developing or

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worsening,

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and ultimately, you know, provide value for that

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member.

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Certainly. And I know, from our coverage and

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our readership,

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Elavance Health is really on the forefront of

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addressing social determinants of health among your members

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and within the communities you serve.

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Shanti, let's let's specifically talk about this most

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recent $300,000

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investment in mental health services for children and

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families, which really underscores the increasing importance of

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behavioral health within

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overall health outcomes.

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Given, as you know, the rising mental health

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crisis all over the country, what are some

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of the further steps you think insurers should

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be taking right now to better integrate mental

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health support into their broader health benefits offerings?

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Yeah. So, again, let me just remind the

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audience a little bit like,

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this,

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work is being conducted through the foundation. Now

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I think addressing mental health,

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behavioral health is incredibly important for our company

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as a whole, even of course outside of

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the foundation and for the industry.

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And really integrating mental health with other kinds

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of healthcare delivery, including social is really important

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because oftentimes

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these issues hang together.

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What the foundation is doing very differently that

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I I just want people to know about

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is, you know, the foundation is has existed

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for years and in the vast majority of

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that time, it's been a grant making organization,

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which means we invite nonprofit partners to come

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in and apply for grants, and then we

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we provide those grants for specific areas of

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programmatic work. As a former CEO of a

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nonprofit, I know exactly what that feels like

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from the

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applying and receiving side, and now I get

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to sort of do it on the foundation

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side.

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What I wanted to do is to try

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to open the aperture of the foundation a

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little bit. We're we're never gonna move away

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from being a grant making organization.

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But, you know, grant grants are wonderful for

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a variety of things. What it also unfortunately

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does is it can limit the kinds of

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organizations we can work with.

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They have to be specifically programmatic in nature

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and they have to be nonprofits in order

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to really take advantage of a grant. So

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we opened up a brand new program

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putting initially a $10,000,000

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kind of investment into that program

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for the purposes of providing impact investment

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to downstream recipients. You can basically think of

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this as loans.

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So one of the first loans that we

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have,

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made as part of this program is to

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in the organization that you cited, Sykes Services

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in California. We gave them an initial loan.

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This is truly a loan. Now we made

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sure that we construct these loans working really

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closely with

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a partner

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to be to have a very low interest

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rate. The goal is to be well below

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the market so that we make sure we

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are getting,

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funds to organizations that can really use those

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dollars to aid their communities and and drive

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health improvement,

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but not burden them with a high interest

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rate. So Sykes services has gotten that. I'm

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really excited about it.

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And and to your point, they are in

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the kind of behavioral health, mental health space.

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And what's really exciting is that what they

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really seek to do is provide services for

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children,

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for their caregivers,

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and educators,

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starting in California, but they're also now virtual

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in, I think over 30 states around the

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country.

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They offer a lot of different therapeutic solutions,

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including counseling and group therapy,

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specialized programs for adolescents.

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So it's it's just really interesting. They work

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closely with schools. They work closely with kids

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and caregivers,

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and we thought they would just be a

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fantastic organization to help grow and support through

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this loan program.

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Absolutely. That's amazing, and I'm sure it's going

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to be a very impactful investment for for

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those individuals.

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As the Elavance Health Foundation continues to expand

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its impact investing program to address health disparities

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and and to promote economic development,

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how do you think the wider insurance industry

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can scale similar initiatives?

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What are some of the lessons that

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everyone should be taking from Ellevance

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from the Ellevance model in terms of structuring

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investments to create meaningful change?

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That that's a that's a really kind way

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of putting it, and thank you for that.

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I look. I think

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one of our main drivers for doing this

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is,

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again, working with a wider variety of organizations

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and companies

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that could be benefited by a loan program,

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maybe even more so than a grant making

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program. And to any of our nonprofit partners

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who who may listen to this, again, I'll

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reiterate grants are gonna be central to our

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mission as well.

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We just wanted to widen the the scope

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of who we could work with and what

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they could get funding from us to do.

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You know, we are I think I believe

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we're the first in our industry to do

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this. I know there are other industries that

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have taken this kind of approach.

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I encourage it. I think if it makes

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sense for the the strategic goals of of,

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an organization, it makes sense to offer this.

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I'm really excited to see businesses thrive based

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on the loans that they're getting. So my

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mental model is often, hey. Imagine we're in

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a community.

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We could help to give a grant to

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the local food bank, which we do all

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the time. And then in addition, we could

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help to grow a community grocery store

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through this loan program that is truly a

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business that is thriving, you know, striving to

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be a a self sustaining grocery store, perhaps

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in a food desert. And it's sort of

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the opportunity to bring those two together, these

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these two different approaches

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in in the same community,

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encourage entrepreneurship

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in one,

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bolster the social safety net in the other.

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I mean, I think this is the sort

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of complete approach that we're trying to take.

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And in all of the work that we

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do, we really focus on socially disadvantaged populations

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and, social areas that we know matter a

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lot to community. So, again, I hope to

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see we're really early in the loan program.

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I hope to see many, many more of

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these dollars go out the door, supporting small

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businesses,

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supporting,

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organizations that then are doing great work in

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their community,

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and and fingers crossed, they will be sustainable

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over time. So we'll really be improving those

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communities for generations to come.

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Certainly. Well, I hope you will keep us

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updated as these investments continue and as as

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you continue to see outcomes

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through them.

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But before we go, Shantanu, what else are

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we missing? Any final tidbits of advice you

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wanna offer, the health plan leaders listening in?

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Yeah. I mean, you know, I think people

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understand the the basic concept here. If there's

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questions about it or if people wanna know

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how to how to maybe get their own

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companies involved, I'd be happy to serve as

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a resource. I know my team would be,

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I think as a big company ourselves,

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we take our role in

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in this area really seriously. We take our

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role in improving health very seriously. We also

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take our role as being an economic engine

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for society really seriously. It's really bad thinking

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that I wanted to bring to this, impact

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investing program.

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So we measure things, of course, like, hey.

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How are we improving health? But we also

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measure things that are employ important as an

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employer. We want you to be sustainable. We

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want you to grow the number of employees

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that you are,

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employing in your community.

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So those kinds of KPIs matter as well.

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I mean, this is this can be the

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thing that I that I think can really

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be a broad strategy

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for putting more resources in communities

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through sustainable enterprises that then actually aim to

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improve the health of those communities. So if

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that idea is interesting, I'd certainly love to

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stay in touch, but invite anyone,

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listening to this to also reach out, and

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we're we're happy to be a a guide

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wherever that's helpful.

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Fantastic. Well, doctor Agrawal, thank you so much

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for taking the time to sit down with

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us and for sharing about the latest work

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happening at Dilavance and and under your leadership.

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We really appreciate it. Thank you. It's been

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it's been great. Thank you for the opportunity.

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And if you'd like to listen to more

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podcasts from Becker's Healthcare, you can visit beckershospitalreview.com.