1 00:00:00,240 --> 00:00:02,319 This is Laura Dierda with the Becker's Healthcare 2 00:00:02,319 --> 00:00:04,400 podcast. I'm thrilled today to be joined by 3 00:00:04,400 --> 00:00:06,799 Jeff Beck, president and chief executive officer at 4 00:00:06,799 --> 00:00:08,800 Imagine three sixty. Jeff, it's a pleasure to 5 00:00:08,800 --> 00:00:10,880 have you on the podcast today. Yeah. Thanks 6 00:00:10,880 --> 00:00:11,939 for inviting me. 7 00:00:12,414 --> 00:00:14,575 Absolutely. My pleasure. You know, I'm excited for 8 00:00:14,575 --> 00:00:16,495 our conversation because I know we'll be digging 9 00:00:16,495 --> 00:00:20,255 into issues around health care affordability, quality, access 10 00:00:20,255 --> 00:00:22,015 to care, health equity, and more, which are 11 00:00:22,015 --> 00:00:24,015 all so important within the health care space 12 00:00:24,015 --> 00:00:24,449 today. 13 00:00:24,850 --> 00:00:26,609 But before we dive into that discussion, I'm 14 00:00:26,609 --> 00:00:27,810 wondering, can you tell us a little bit 15 00:00:27,810 --> 00:00:30,310 more about yourself and Imagine three sixty? 16 00:00:30,769 --> 00:00:31,589 Yeah. Sure. 17 00:00:32,049 --> 00:00:34,450 I have been in health care for, you 18 00:00:34,450 --> 00:00:35,510 know, three decades, 19 00:00:36,850 --> 00:00:39,270 have helped grow and manage health care services 20 00:00:39,329 --> 00:00:40,310 businesses, and, 21 00:00:40,664 --> 00:00:42,504 you know, have always been proud that I 22 00:00:42,504 --> 00:00:44,284 can help employers become, 23 00:00:44,905 --> 00:00:47,064 you know, more cost cost effective when they're 24 00:00:47,064 --> 00:00:49,784 purchasing health care and look for alternative and 25 00:00:49,784 --> 00:00:52,104 creative ways to, to save money and get 26 00:00:52,104 --> 00:00:53,965 the most bang for the buck for their, 27 00:00:54,439 --> 00:00:55,420 for their employees. 28 00:00:55,799 --> 00:00:58,299 And Imagine three sixty is a a growing, 29 00:00:58,920 --> 00:01:00,460 business that is, 30 00:01:01,239 --> 00:01:02,619 an alternative health plan, 31 00:01:03,159 --> 00:01:05,799 with a mission to make health care more 32 00:01:05,799 --> 00:01:08,359 affordable with with a great member experience and 33 00:01:08,359 --> 00:01:09,340 and help the 34 00:01:09,895 --> 00:01:12,075 lives of American workers and their families, 35 00:01:13,094 --> 00:01:14,555 be able to afford health care. 36 00:01:15,495 --> 00:01:17,814 That's an amazing mission and so important, especially 37 00:01:17,814 --> 00:01:19,415 today as I know a lot of families 38 00:01:19,415 --> 00:01:21,655 are struggling in in the health care, you 39 00:01:21,655 --> 00:01:22,079 know, 40 00:01:22,640 --> 00:01:23,140 expenses 41 00:01:23,680 --> 00:01:25,359 are continuing to pile up. And so I 42 00:01:25,359 --> 00:01:26,340 I really appreciate, 43 00:01:26,959 --> 00:01:29,120 that kind of ability to innovate and jump 44 00:01:29,120 --> 00:01:31,200 into an alternative plan that could really make 45 00:01:31,200 --> 00:01:32,500 a big difference for, 46 00:01:33,280 --> 00:01:35,380 patients and families across the board. 47 00:01:35,695 --> 00:01:38,174 From your perspective, I know balancing affordability and 48 00:01:38,174 --> 00:01:40,674 quality is a constant challenge for health plans. 49 00:01:40,895 --> 00:01:42,034 How is your organization 50 00:01:42,335 --> 00:01:45,375 innovating to manage the cost of care while 51 00:01:45,375 --> 00:01:47,875 also maintaining or improving member outcomes? 52 00:01:49,120 --> 00:01:50,400 So from a, 53 00:01:50,719 --> 00:01:51,620 in our perspective, 54 00:01:52,560 --> 00:01:53,620 we're interested 55 00:01:54,799 --> 00:01:55,459 in doing 56 00:01:55,760 --> 00:01:56,659 direct contracts, 57 00:01:57,599 --> 00:01:59,780 with certain high quality health systems. 58 00:02:00,560 --> 00:02:01,060 We're 59 00:02:02,204 --> 00:02:03,745 mainly focused on, 60 00:02:04,685 --> 00:02:06,784 ensuring that what we reimburse 61 00:02:07,165 --> 00:02:09,344 those systems is fair and equitable. 62 00:02:09,965 --> 00:02:12,465 If they don't go to those contracted relationships, 63 00:02:12,764 --> 00:02:15,004 we have a price protection approach, which is 64 00:02:15,004 --> 00:02:16,224 reference based pricing, 65 00:02:17,060 --> 00:02:17,719 which again, 66 00:02:18,419 --> 00:02:19,879 holds the line on reimbursement 67 00:02:20,180 --> 00:02:22,360 and makes health care a lot more affordable. 68 00:02:23,060 --> 00:02:23,879 And from 69 00:02:24,260 --> 00:02:26,819 a member experience perspective, it's really up to 70 00:02:26,819 --> 00:02:29,939 us to ensure that those employees and their 71 00:02:29,939 --> 00:02:30,439 families, 72 00:02:31,460 --> 00:02:31,960 know 73 00:02:32,625 --> 00:02:33,824 about their health care, 74 00:02:34,384 --> 00:02:34,884 program, 75 00:02:35,824 --> 00:02:38,305 know how to navigate to the appropriate sites 76 00:02:38,305 --> 00:02:38,965 of care. 77 00:02:39,424 --> 00:02:41,924 And then when they are, you know, experiencing, 78 00:02:42,384 --> 00:02:44,644 you know, a a medical situation, 79 00:02:45,629 --> 00:02:47,949 be be there for them and engage with 80 00:02:47,949 --> 00:02:50,430 them to ensure that they're having a good 81 00:02:50,430 --> 00:02:53,009 experience under some very tough conditions. And so, 82 00:02:53,150 --> 00:02:54,909 you know, that's that's kind of our MO 83 00:02:54,909 --> 00:02:56,909 in terms of how we're driving to this 84 00:02:56,909 --> 00:02:58,049 lower price point. 85 00:02:59,085 --> 00:03:00,525 Got it. That makes a lot of sense. 86 00:03:00,525 --> 00:03:02,764 And, you know, I I really appreciate how 87 00:03:02,764 --> 00:03:04,685 you can have, as you mentioned, that network 88 00:03:04,685 --> 00:03:07,085 of preferred and quality providers, but at the 89 00:03:07,085 --> 00:03:07,824 same time, 90 00:03:08,125 --> 00:03:12,010 allow for the members to also make decisions 91 00:03:12,010 --> 00:03:13,849 and and navigate through their own care as 92 00:03:13,849 --> 00:03:15,290 well. So I think that makes a lot 93 00:03:15,290 --> 00:03:16,750 of sense and is really helpful. 94 00:03:17,210 --> 00:03:18,669 And addressing health equity 95 00:03:19,050 --> 00:03:21,530 has become a really critical focus for many 96 00:03:21,530 --> 00:03:24,169 health plans. Can you share an overview of 97 00:03:24,169 --> 00:03:26,490 a key initiative here that you're involved in 98 00:03:26,490 --> 00:03:29,025 or are particularly excited about. What are you 99 00:03:29,025 --> 00:03:30,004 hoping to achieve? 100 00:03:30,784 --> 00:03:32,084 You know, health equity, 101 00:03:32,465 --> 00:03:34,705 it is something that's top of mind for 102 00:03:34,705 --> 00:03:36,324 Imagine three sixty. We, 103 00:03:37,264 --> 00:03:38,485 recognize that 104 00:03:38,864 --> 00:03:40,965 there are a lot of Americans who 105 00:03:41,270 --> 00:03:43,270 can no longer afford their out of pocket, 106 00:03:43,270 --> 00:03:44,010 their deductible, 107 00:03:45,270 --> 00:03:46,949 and there's been a ton of cost shifting 108 00:03:46,949 --> 00:03:48,250 that's happened over the, 109 00:03:48,629 --> 00:03:50,569 past, you know, several years. 110 00:03:51,270 --> 00:03:54,969 Medical debt, as everybody knows, 40% of Americans 111 00:03:55,030 --> 00:03:55,689 have it, 112 00:03:56,375 --> 00:03:59,254 and it's because the the their care from 113 00:03:59,254 --> 00:04:00,474 an out of pocket perspective, 114 00:04:01,094 --> 00:04:02,955 is something they don't have the the discretionary 115 00:04:03,254 --> 00:04:03,754 income, 116 00:04:04,775 --> 00:04:06,155 to meet. And so 117 00:04:06,775 --> 00:04:07,754 what we 118 00:04:08,400 --> 00:04:09,780 primarily try to do 119 00:04:10,159 --> 00:04:10,659 is 120 00:04:10,960 --> 00:04:12,879 ensure that they get the lowest cost of 121 00:04:12,879 --> 00:04:13,379 care, 122 00:04:13,680 --> 00:04:16,160 which saves money for the first dollar claim 123 00:04:16,160 --> 00:04:17,759 that they would use and the provider they 124 00:04:17,759 --> 00:04:18,420 would access. 125 00:04:18,879 --> 00:04:20,959 We have programs that check for things like 126 00:04:20,959 --> 00:04:21,939 financial assistance, 127 00:04:22,935 --> 00:04:25,574 to ensure that if they qualify for anything 128 00:04:25,574 --> 00:04:27,814 that's subsidized or free, they they they would 129 00:04:27,814 --> 00:04:31,094 get it. And so, you know, our our 130 00:04:31,094 --> 00:04:33,414 main theme is to reduce the cost of 131 00:04:33,414 --> 00:04:34,634 care, to reduce 132 00:04:35,419 --> 00:04:36,719 out of pocket costs, 133 00:04:37,259 --> 00:04:39,519 and when there is a chance that somebody 134 00:04:39,579 --> 00:04:41,819 may qualify for something that's free from a 135 00:04:41,819 --> 00:04:44,139 health equity perspective like financial assistance that that 136 00:04:44,139 --> 00:04:45,039 they get it. 137 00:04:45,819 --> 00:04:47,579 Got it. That makes sense and is really 138 00:04:47,579 --> 00:04:48,879 helpful and certainly 139 00:04:49,524 --> 00:04:51,285 helpful for those who are struggling with the 140 00:04:51,365 --> 00:04:53,144 that medical debt or who need care, 141 00:04:53,685 --> 00:04:56,564 but without the funds to really, purchase it 142 00:04:56,564 --> 00:04:59,044 effectively. And so I think that it is 143 00:04:59,044 --> 00:05:00,884 great, and and especially for those, as you 144 00:05:00,884 --> 00:05:03,625 mentioned, who qualify for subsidized or, 145 00:05:04,189 --> 00:05:07,069 free assistance, it seems like, it really makes 146 00:05:07,069 --> 00:05:09,550 a big difference for them to access the 147 00:05:09,550 --> 00:05:11,009 type of care that they need. 148 00:05:11,550 --> 00:05:13,629 And then I wanted to ask about member 149 00:05:13,629 --> 00:05:16,670 satisfaction as well. I know member satisfaction is 150 00:05:16,670 --> 00:05:19,264 essential to thrive in today's competitive health care 151 00:05:19,264 --> 00:05:19,764 market. 152 00:05:20,225 --> 00:05:23,745 What experience or engagement strategies have proven effective 153 00:05:23,745 --> 00:05:26,145 for your organization, and how are you measuring 154 00:05:26,145 --> 00:05:26,645 success? 155 00:05:27,745 --> 00:05:30,324 Yeah. We we measure success in many ways. 156 00:05:30,389 --> 00:05:33,509 We have NPS scores and member satisfaction scores, 157 00:05:33,509 --> 00:05:34,410 and they're consistently, 158 00:05:35,830 --> 00:05:37,050 from a member satisfaction, 159 00:05:37,750 --> 00:05:40,009 you know, in in the nineties high nineties. 160 00:05:40,629 --> 00:05:43,689 And I think it's partly because we 161 00:05:44,264 --> 00:05:46,264 we help employees take that extra step in 162 00:05:46,264 --> 00:05:47,144 their health care. 163 00:05:47,704 --> 00:05:48,845 When they call into, 164 00:05:50,024 --> 00:05:50,925 member support, 165 00:05:51,225 --> 00:05:53,305 we can do things like schedule an appointment 166 00:05:53,305 --> 00:05:53,964 for them. 167 00:05:54,745 --> 00:05:55,485 We can 168 00:05:55,944 --> 00:05:58,444 idea, you know, a facility in advance. 169 00:05:59,879 --> 00:06:00,379 Typically, 170 00:06:01,000 --> 00:06:01,500 that 171 00:06:01,800 --> 00:06:03,800 is gonna assist them in terms of spending 172 00:06:03,800 --> 00:06:05,400 the least amount of money possible out of 173 00:06:05,400 --> 00:06:06,699 pocket for that initial 174 00:06:07,080 --> 00:06:07,580 consult. 175 00:06:08,040 --> 00:06:10,379 You know, we we may ask an employee 176 00:06:10,520 --> 00:06:12,040 and and give them an option if they 177 00:06:12,040 --> 00:06:13,720 wanna drive an extra three or four or 178 00:06:13,720 --> 00:06:14,460 five miles. 179 00:06:15,375 --> 00:06:17,535 They may be able to save 200 to 180 00:06:17,535 --> 00:06:18,595 $2,000, 181 00:06:19,454 --> 00:06:21,935 for a facility that could be slightly higher 182 00:06:21,935 --> 00:06:24,175 quality. And, you know, people just don't have 183 00:06:24,175 --> 00:06:26,574 that data. They're not that as conscious of 184 00:06:26,574 --> 00:06:28,115 it as we are. And so 185 00:06:28,669 --> 00:06:30,269 we we do a lot to try to, 186 00:06:30,269 --> 00:06:32,669 you know, hug and wrap those members as 187 00:06:32,669 --> 00:06:34,110 best we can and guide them the best 188 00:06:34,110 --> 00:06:35,709 we can. And when they when they listen 189 00:06:35,709 --> 00:06:37,949 and do and follow, they typically wind up 190 00:06:37,949 --> 00:06:39,250 in a much better place. 191 00:06:40,350 --> 00:06:41,949 That makes a lot of sense. And it's 192 00:06:41,949 --> 00:06:43,394 really comforting to know that, 193 00:06:43,794 --> 00:06:46,595 an organization like Imagine three sixty has that 194 00:06:46,595 --> 00:06:48,514 data and information and then process it and 195 00:06:48,514 --> 00:06:51,555 communicate that, in an effective way for for 196 00:06:51,555 --> 00:06:52,055 members. 197 00:06:52,435 --> 00:06:54,914 Now looking ahead, what do you see as 198 00:06:54,914 --> 00:06:57,394 being the biggest opportunity for payers to lead 199 00:06:57,394 --> 00:06:58,935 the charge in transforming 200 00:06:59,529 --> 00:07:01,850 care delivery and driving better outcomes for all 201 00:07:01,850 --> 00:07:02,350 stakeholders. 202 00:07:02,810 --> 00:07:04,889 How can leaders really take that step into 203 00:07:04,889 --> 00:07:06,029 this direction now? 204 00:07:06,970 --> 00:07:07,470 Yeah. 205 00:07:07,850 --> 00:07:08,350 So, 206 00:07:09,050 --> 00:07:09,790 at the, 207 00:07:10,490 --> 00:07:13,069 upcoming Becker's payer issue roundtable, 208 00:07:14,009 --> 00:07:14,509 we 209 00:07:15,194 --> 00:07:17,615 we announced some findings from a study, 210 00:07:18,794 --> 00:07:21,214 about the perception of health care costs. And 211 00:07:21,514 --> 00:07:23,514 given health care costs have become a topic 212 00:07:23,514 --> 00:07:25,615 of, such a national conversation 213 00:07:25,915 --> 00:07:26,415 debate, 214 00:07:26,794 --> 00:07:28,240 you know, we wanted to understand 215 00:07:28,779 --> 00:07:30,639 how the average American feels, 216 00:07:31,580 --> 00:07:33,819 about their health care. The results kinda confirm 217 00:07:33,819 --> 00:07:34,560 that we 218 00:07:34,939 --> 00:07:36,639 what we've been hearing in our conversations 219 00:07:37,019 --> 00:07:37,519 with, 220 00:07:37,899 --> 00:07:39,439 benefit leaders and employers, 221 00:07:40,084 --> 00:07:42,964 that there's there's a serious affordability issue in 222 00:07:42,964 --> 00:07:43,705 health care, 223 00:07:45,045 --> 00:07:48,745 and American families are are impacted pretty dramatically. 224 00:07:49,764 --> 00:07:52,185 We find that nearly half of our responders 225 00:07:52,404 --> 00:07:53,145 either skipped 226 00:07:53,529 --> 00:07:56,569 or postponed, you know, necessary health care or 227 00:07:56,569 --> 00:07:58,110 medications due to the cost. 228 00:07:59,290 --> 00:08:01,069 Many of them saw their conditions worsen. 229 00:08:02,169 --> 00:08:04,329 This has kind of increased over the past 230 00:08:04,329 --> 00:08:05,310 couple of years. 231 00:08:05,904 --> 00:08:08,064 And as an industry, you know, we're heading 232 00:08:08,064 --> 00:08:08,964 in the wrong direction 233 00:08:09,425 --> 00:08:12,004 when that's kind of the state of play. 234 00:08:12,544 --> 00:08:13,925 And, you know, inaction 235 00:08:15,024 --> 00:08:16,644 and not taking a proactive, 236 00:08:17,745 --> 00:08:20,064 you know, step from a solution perspective or 237 00:08:20,064 --> 00:08:21,204 a strategy perspective 238 00:08:21,959 --> 00:08:25,079 ultimately affects the health, of, of American families. 239 00:08:25,079 --> 00:08:25,740 And so 240 00:08:26,199 --> 00:08:28,199 we we also kind of found that health 241 00:08:28,199 --> 00:08:30,920 plan premiums were the number one factor that 242 00:08:30,920 --> 00:08:32,220 are causing the affordability 243 00:08:32,600 --> 00:08:33,100 challenge, 244 00:08:33,894 --> 00:08:35,434 followed by high out of pockets. 245 00:08:36,214 --> 00:08:37,434 And this is where employers, 246 00:08:37,975 --> 00:08:39,995 I think, and benefit leaders, 247 00:08:40,375 --> 00:08:43,195 brokers, company likes like Imagine three sixty 248 00:08:43,894 --> 00:08:44,954 need to step up, 249 00:08:45,815 --> 00:08:47,735 and step in to see how these things 250 00:08:47,735 --> 00:08:48,235 can 251 00:08:49,299 --> 00:08:51,320 resolve themselves, become more affordable. 252 00:08:52,259 --> 00:08:55,139 And, you know, it's it's most employers' most 253 00:08:55,139 --> 00:08:57,079 valuable asset. Right? It's their employees. 254 00:08:57,940 --> 00:08:59,959 And if they're feeling, 255 00:09:00,339 --> 00:09:03,559 you know, unprotected, if they're feeling exposed financially, 256 00:09:04,475 --> 00:09:06,335 they're they're not gonna be at their best. 257 00:09:06,795 --> 00:09:08,495 They're not gonna be fully engaged. 258 00:09:08,955 --> 00:09:10,235 And the last thing you want as an 259 00:09:10,235 --> 00:09:13,195 employer is, you know, people with, you know, 260 00:09:13,195 --> 00:09:15,434 half their attention on your job and, you 261 00:09:15,434 --> 00:09:17,835 know, half their attention on things, you know, 262 00:09:17,835 --> 00:09:18,335 like 263 00:09:18,809 --> 00:09:20,269 access to care or, 264 00:09:21,450 --> 00:09:23,690 medical debt or, you know, just how are 265 00:09:23,690 --> 00:09:26,330 they gonna afford something as simple as an 266 00:09:26,330 --> 00:09:26,830 annual, 267 00:09:27,210 --> 00:09:29,789 checkup or procedure or colonoscopy. And so 268 00:09:30,169 --> 00:09:31,929 I I I I think that's the key 269 00:09:31,929 --> 00:09:32,990 theme for us. 270 00:09:34,014 --> 00:09:35,774 Absolutely. No. That makes a lot of sense, 271 00:09:35,774 --> 00:09:38,035 and, you know, it's certainly inspiring to hear. 272 00:09:38,095 --> 00:09:39,615 Jeff, thank you so much for joining us 273 00:09:39,615 --> 00:09:41,294 on the podcast. This has been a really 274 00:09:41,294 --> 00:09:43,695 fun conversation. I look forward to connecting with 275 00:09:43,695 --> 00:09:46,399 you soon and especially at our, payer issues 276 00:09:46,399 --> 00:09:48,240 roundtable as you mentioned. It's gonna be such 277 00:09:48,240 --> 00:09:50,639 an amazing event bringing together so many leaders 278 00:09:50,639 --> 00:09:51,860 from across the industry, 279 00:09:52,480 --> 00:09:54,559 to really engage in these types of discussions 280 00:09:54,559 --> 00:09:56,659 on, you know, innovation in the field and 281 00:09:56,720 --> 00:09:58,879 what we need next in order to, really, 282 00:09:58,879 --> 00:10:01,473 really evolve the health care system. So, Jeff, 283 00:10:01,473 --> 00:10:03,233 I appreciate it and look forward to seeing 284 00:10:03,233 --> 00:10:05,793 you soon. Yeah. Thank you. Thanks for the 285 00:10:05,793 --> 00:10:06,293 time.