Episode 30: Spencer Smith, SVP of Sales at Pareto Health

In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Joe Perekupka, CEO of Freespira, a company focused on medication-free treatments for panic attacks and PTSD. Joe shares his journey into healthcare, his leadership experiences, and the importance of learning from mistakes. He discusses the mission of FreeSpira, the impact of COVID-19 on mental health treatment, and shares patient success stories. Joe also emphasizes the significance of cultural fitness in hiring and offers advice for employees of companies approaching IPOs. The conversation highlights the innovative approach of Freespira in addressing mental health issues and the importance of action and adaptability in leadership. Takeaways🩺 Healthcare offers a chance to positively impact society. 👥 Building a team in a startup requires cultural alignment. 💡 Embracing mistakes is crucial for growth. 🚀 Action creates opportunities and learning experiences. 🌬️ Freespira’s treatment is medication-free and effective. 🎖️ PTSD affects more than just combat veterans. 🌐 COVID-19 highlighted the need for virtual mental health care. 🗣️ Patient testimonials are powerful in demonstrating impact. 📈 Adherence rates for Freespira are higher than traditional therapies. 🍳 Healthy cooking can be simple and enjoyable. Chapters00:00 Introduction to Freespira and Joe Perekupka02:12 Joe's Journey in Healthcare06:37 Building a US Subsidiary for Brainsway10:11 Learning from Mistakes in Leadership13:23 Successes and Milestones at Brainsway16:10 Hiring for Sales in Startups17:28 Freespira Mission and Mental Health20:08 Understanding PTSD Beyond Combat22:40 Impact of COVID on Freespira23:43 The Shift to Virtual Care in Mental Health24:38 Patient Success Stories with Freespira28:11 Understanding the 17-Minute Protocol30:17 Real-World Impact and Statistics32:11 Veterans and the Ease of Use of Freespira33:42 CO2 Hypersensitivity and Its Effects34:56 Comparing Freespira to Traditional Treatments39:18 Managing Stress and Personal Well-being42:16 Healthy Eating and Family RecipesFollow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Spencer Smith, SVP of Sales at Pareto Health. They discuss Spencer's journey in the healthcare industry, the misconceptions surrounding stop-loss insurance, and the benefits of self-funding for mid-sized employers. Spencer shares insights from his time at Plan Sight, the culture at Pareto, and the importance of leadership traits in healthcare. The conversation also touches on the role of brokers, the impact of digital health vendors, and future trends in the industry. Spencer emphasizes the need for trust and transparency in healthcare, as well as the personal growth he has experienced through podcasts.  Takeaways 🎓 Spencer Smith's journey into healthcare began by chance after college. 📉 Many employers treat stop-loss insurance as a commodity, missing the bigger picture. 🏢 Self-funding is not just for large employers; most employees are in self-funded plans. 🔓 Pareto Health offers a unique solution by unbundling healthcare components for employers. 🤝 The culture at Pareto is driven by a mission to support small to mid-sized employers. 🧘 Effective leadership in healthcare requires empathy, attitude, and self-care. ❗ Many misconceptions exist about self-funding among mid-sized employers. 💼 Brokers may have incentives to keep employers fully insured, impacting their advice. 🖥️ Digital health vendors play a crucial role in enhancing healthcare solutions. 🎙️ Podcasting has opened new doors for Spencer, enhancing his credibility in the industry.  Chapters 00:00 Introduction to Spencer Smith and Pareto Health 03:18 Common Misconceptions about Stop Loss 07:27 Transition to Pareto Health and Its Mission 11:17 The Role of Captives in Healthcare 13:33 Simplifying Self-Funding for Mid-Size Employers 14:15 Explaining Risk Financing 15:20 Success Stories from Pareto Health 16:23 Memorable Sales Experiences 18:06 Attracting Talent to Pareto Health 19:36 Company Culture at Pareto Health 20:33 Traits of Effective Leaders 24:35 Misconceptions about Healthcare for Mid-Size Employers 25:31 The Role of Brokers and Consultants in Self-Funding 27:46 Understanding When to Stay Fully Insured 30:01 Integrating Digital Health Solutions 31:46 Evaluating Return on Investment in Health Solutions 34:20 The Future of Captives and Primary Care 36:14 Lessons from Podcasting 39:46 The Impact of Personal Branding in Business 48:20 Maintaining Health and Wellness in a Busy Life  Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, host Norm Volsky interviews Kristian Ranta, CEO and founder of Meru Health. They discuss Kristian's journey from founding Mendor to establishing Meru Health, a company focused on redefining mental health care. The conversation explores cultural differences in healthcare systems, the importance of networking through Y Combinator, and the innovative approaches Meru takes in mental health treatment, including peer support and holistic care. Kristian shares insights on the impact of technology and generational differences on mental health, as well as the key traits needed for founders in the healthcare space. The episode concludes with a discussion on personal health practices and the future of mental health care.  Takeaways 🧠 Meru Health aims to redefine mental health care standards. 👤 Kristian Ranta's personal experiences shaped his mission in healthcare. 🌍 Cultural differences in healthcare systems can be eye-opening. 🤝 Y Combinator provides invaluable networking opportunities for startups. 📆 Continuous engagement in mental health care leads to better outcomes. ⚖️ Holistic approaches to mental health consider physical health factors. 🫂 Peer support is crucial for individuals facing mental health challenges. 👶👴 Generational differences impact mental health needs and perceptions. 📱 Technology and social media contribute to increased anxiety levels. 🔥 Founders in healthcare need tenacity, mission-driven focus, and strong teams.  Chapters 00:00 Introduction to Meru Health and Kristian Ranta 03:07 Kristian's Journey in Healthcare and Founding Mendor 05:56 Cultural Shock: Finland vs. US Healthcare Systems 08:44 The Y Combinator Experience: Building Connections and Credibility 11:53 Lessons from Y Combinator: Tenacity and Startup Principles 14:51 Meru Health's Holistic Approach to Mental Health 17:48 Understanding HRV Therapy and Its Benefits 20:47 Meru Health's Patient-Centric Model and Success Stories 23:42 Addressing the Anxious Generation: Causes and Solutions 28:13 The Impact of Technology on Privacy and Work-Life Balance 30:47 Setting Boundaries in a 24/7 Work Culture 32:40 The Importance of Peer Support in Mental Health 36:10 Finding Balance: Personal Stories of Mental Health 39:29 Innovations in Mental Health Care: Unlimited Support 43:24 The Future of Mental Health: Integrating Physical and Mental Health 46:36 Traits for Success in Healthcare Entrepreneurship Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, host Norm Volsky interviews Akifa Khattak, co-founder of Her Health AI, a fem-tech startup focused on non-invasive diagnostics for endometriosis. Akifa shares her personal journey with endometriosis, her legal advocacy in healthcare, and the importance of integrating technology into women's health. The conversation covers the challenges faced by women with endometriosis, the need for better diagnostics, and the financial implications of current treatment approaches. Akifa emphasizes the importance of awareness, education, and breaking taboos surrounding women's health issues, while also discussing the future of Her Health AI and the fem-tech industry.  Takeaways ⚖️ The legal profession plays a crucial role in navigating healthcare innovation. 🌎 Endometriosis affects 200 million women worldwide, often going undiagnosed for years. 🧬 Her Health AI aims to revolutionize diagnostics for endometriosis. ⏳ The current diagnostic timeline for endometriosis is around 10 years. 📚 Awareness and education are key to improving women's health outcomes. 💸 Financial implications of endometriosis treatment is significant for healthcare payers. 🗣️ Breaking taboos around women's health is essential for better support. 🩺 Her Health AI is focused on non-invasive diagnostic methods. 🚺 The future of fem-tech looks promising with increased integration in healthcare.  Chapters 00:00 Introduction to Akifa Khattak and Her Health AI 02:15 The Intersection of Law and Biotechnology 04:08 Successes in Legal Advocacy and Healthcare 06:56 Personal Journey: From Patient to Innovator 09:54 Understanding Endometriosis: Impact and Challenges 10:22 Treatment and Recovery for Endometriosis 12:40 Innovations in Diagnostics: Her Health AI's Approach 14:46 Financial Implications of Endometriosis Screening 16:54 Addressing the Stigma Around Women's Health 18:41 User Experience with Her Health AI 19:11 Integrating Technology in Healthcare 20:08 AI's Role in Diagnosing Endometriosis 22:53 Future Aspirations for Her Health 24:06 Evolution of Healthcare Technology 25:11 Recognition and Exposure in the Industry 27:14 The Future of fem-tech 29:20 Understanding Endometriosis Across Ages 32:15 Personal Health Practices and Stress Management 37:26 Nutrition and Lifestyle Choices for Health   Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, host Norm Volsky speaks with Dr. Cole Barfield and Elena Gambon from First Stop Health. They discuss their personal journeys into healthcare, the founding of Century Health and WellView, and the mission of First Stop Health to provide whole person care. The conversation highlights the importance of patient engagement, the role of strategy in healthcare growth, and the impact of 24/7 access to doctors on patient care. They also explore emerging trends in healthcare, including the use of AI and the importance of empathy in leadership. The episode concludes with insights on stress management and healthy living.  Takeaways 🧍‍♂️ First Stop Health provides whole person care for employees. 💬 Elena Gambon and Dr. Cole Barfield share their inspirations for entering healthcare. 🛤️ Dr. Cole Barfield's journey led him to co-found Century Health and WellView. 📈 First Stop Health focuses on high patient engagement and usage rates. 🏥 The company positions itself as a valuable alternative in the healthcare market. 🚪 The mission of First Stop Health is to eliminate barriers to care. 🧠 Elena Gambon emphasizes the importance of a Chief Strategy Officer in a growing company. 💖 Leadership at First Stop Health is centered around vulnerability and authenticity. 🎯 Career-defining moments shape how leaders bring value to clients. ⏰ 24/7 access to doctors significantly impacts patient care and decision-making.  Chapters 00:00 Introduction to First Stop Health 02:30 Personal Journeys into Healthcare 05:30 Founding and Growth of First Stop Health 08:26 Understanding Usage and Engagement in Healthcare 12:19 The Unique Value Proposition of First Stop Health 14:38 The Mission and Vision of First Stop Health 16:54 The Role of Strategy in Growth 21:40 Career-Defining Moments 27:16 Impact of 24/7 Access to Healthcare 31:33 The Emotional Aspect of Decision Making in Healthcare 33:17 Cost Savings and Direct Care Models 36:53 Generational Differences in Decision Making 41:09 Improving Access and Affordability in Healthcare 42:32 Future Directions for First Stop Health 47:34 Emerging Trends in Healthcare Technology 50:58 Personal Well-being and Healthy Living  Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavy Weights podcast, Norm Volsky interviews Dickon Waterfield, president of Lantern, a specialty care platform. They discuss Dickon's journey from strategy consulting to healthcare, his experiences in investing, and his pivotal roles at Big Health and Lantern. The conversation delves into the challenges of the PBM industry, the importance of direct contracting, and the future of healthcare innovations, particularly in specialty care and oncology. Dickon emphasizes the need for transparency, quality care, and the alignment of incentives in the healthcare system.  Takeaways ❤️ Healthcare is a deep personal field that impacts everyone. 🔄 Transitioning from investing to operational roles can provide valuable insights. 🤝 Sales in healthcare requires a focus on building relationships and trust. 🔍 Understanding the details of the product and the buyer is crucial for success. ⚠️ The PBM industry faces significant challenges due to misaligned incentives. 💼 Direct contracting models can lead to substantial cost savings for employers. 🔎 Quality care and transparency are essential in specialty care. 👥 Building a strong team is vital for scaling a healthcare business. 🎯 Focusing on a few core services can lead to greater impact than spreading too thin. 🧘 Maintaining a healthy work-life balance is important for long-term success.  Chapters 00:00 Introduction to Dickon Waterfield and Lantern 02:22 The Personal Connection to Healthcare 04:50 Early Career at Monitor Group 06:29 Transition to Investing and Early-Stage Companies 09:43 Lessons from the Investment Side 11:47 Joining Big Health and Early Challenges 13:52 The Role of Sales in Early-Stage Companies 16:53 Building Relationships in Sales 19:41 Navigating the Two-Sided Marketplace 21:03 Scaling from Zero to 2.5 million Members 23:41 The Evolving Landscape of Healthcare Sales 25:12 The Difference Between Evangelists and Scalers 26:40 The Importance of Mentorship in Business Growth 27:56 Building Effective Sales Teams: Experience vs. Potential 31:16 Navigating Challenges in the PBM Industry 39:21 The Evolution of Direct Contracting Models 41:01 Expanding Horizons: The Future of Lantern 56:45 Personal Health Practices in a Stressful Industry Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Ryan Coplon, founder and CEO of Health Wallet. They discussed Ryan's transition from risk finance to healthcare, the inception of Health Wallet, and the challenges faced in the industry. Ryan shares insights on how Health Wallet simplifies benefits for stakeholders, leverages technology and AI for engagement, and maintains cost efficiency compared to competitors. The conversation also touches on the company's growth, hiring philosophy, and personal health practices of Ryan Coplon.  Takeaways 📱 Health Wallet simplifies access to benefits through a mobile platform. 🔄 Ryan transitioned from risk finance to healthcare to address employee benefits challenges. 🚀 Echelon Advisors helped incubate Health Wallet's concept. ⛰️ Self-funding benefits were not popular when they started, presenting challenges. 📉 Health Wallet addresses underutilization of point solutions in healthcare. 🌟 The platform enhances member experience and engagement. 🔗 Health Wallet integrates various third-party solutions for better service. 💸 The company operates at a lower cost compared to its competitors. 📈 Customer retention is high due to continuous product developments. 🤝 Ryan emphasizes the importance of autonomy and trust in his team.  Chapters 00:00 Introduction to Health Wallet and Ryan Coplon 01:32 Transitioning from Risk Finance to Healthcare 03:03 Challenges in Employee Benefits and Self-Funding 06:33 Inception of Health Wallet 08:33 Simplifying Benefits for Stakeholders 11:56 Common Issues Addressed by Health Wallet 14:04 Leveraging Technology for Engagement 16:47 Introduction of Benny AI Bot 17:58 Pricing and Competitive Advantage 19:25 Customer Retention and Product Enhancements 21:20 Broadening Service Offerings 25:13 Company Growth and Team Dynamics 26:35 The Evolution of Software Infrastructure 28:05 Hiring and Leadership Philosophies for a Lean Team 31:06 The Importance of Autonomy and Trust in Teams 33:57 Milestones and Achievements at Health Wallet 38:54 Future Growth and Industry Awareness 41:43 Anticipating Changes in the Benefits Landscape 45:16 Personal Health Practices and Lifestyle Choices Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, our host Norm Volsky speaks with Dr. Tim Church, Chief Medical Officer at Wondr Health about his journey in healthcare, the challenges and successes in digital health, and the importance of behavior change in weight loss. They discussed the impact of GLP-1 medications, the role of AI in healthcare, and the essential leadership skills needed for success in the digital health landscape. Tim emphasizes the need for clinicians in digital health and shares insights on how to inspire doctors to transition into this innovative field.  Takeaways 🩺 Dr. Tim Church emphasizes the importance of helping people through healthcare. ⚖️ The obesity epidemic is a significant concern that needs attention. 🧪 Digital health companies face challenges in differentiation and scientific backing. 🔁 Behavior change is crucial for effective weight loss and health improvement. 💉 GLP-1 medications are a game changer but should be used wisely. 🤖 AI has the potential to revolutionize healthcare but requires quality data. 🎓 Leadership skills are essential for success in digital health companies. 👩‍⚕️ Clinicians should be involved in digital health to ensure effective solutions. 🌍 Understanding population-based medicine is key for healthcare professionals transitioning to digital health. 🥗 Practicing a balanced diet and exercise is vital for personal health.  Chapters 00:00 Introduction to Dr. Tim Church and Digital Health 02:20 Journey into Healthcare and Digital Health 04:05 Founding Catapult Health 05:43 Challenges in Digital Health 10:23 Successes in Health Initiatives 13:20 Customer Acquisition in Digital Health 15:25 Lessons Learned in Digital Health 20:41 Navigating the Digital Health Ecosystem 27:56 Understanding ROI in Digital Health 30:26 Key Traits for Digital Health Founders 32:42 The Importance of Clinical Expertise in Digital Health 36:49 Navigating the Digital Health Landscape 40:34 Behavior Change: The Holy Grail of Digital Health 42:54 The Role of GLP-1s in Weight Management 48:25 AI's Impact on Healthcare 53:44 Practicing What You Preach in Health Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Matt Eurey, Chief Commercial Officer of Carrum Health. Matt shares his extensive experience in the healthcare industry, discussing his journey from leading benefits at Time Warner Cable, and transitioning to the vendor side with Accolade. He emphasizes the importance of ROI in employee benefits, the need for innovation, and the significance of customer relationships in driving success. Matt also shares insights on the future of healthcare, the challenges faced by digital health companies, and why he chose Carrum Health, highlighting its commitment to value-based care and transparency.  Takeaways 🔄 Matt transitioned into healthcare benefits through union negotiations. 📺 At Time Warner Cable, free cable is the most valued employee benefit. 💡 ROI in employee benefits is often misunderstood and exaggerated. 🏥 Carrum Health focuses on value-based care and transparency. 🤝 Building a successful sales team requires collaboration and alignment. 🧑‍💼 Customer relationships are crucial for driving sales and success. 📊 Digital health companies need to demonstrate clear ROI to gain traction. 💥 The healthcare industry is ripe for innovation and transformation. 🤖 AI will play a significant role in improving healthcare delivery. ⚖️ The future will see a divide between successful and unsuccessful healthcare solutions.  Chapters 00:00 Introduction to Matt Eurey and Carrum Health 02:54 Matt's Journey into Healthcare Benefits 05:55 Leading Benefits at Time Warner Cable 08:52 Transitioning to Lowe's and Managing Scale 11:47 Calculating ROI in Benefits Programs 14:22 Innovations in Care Navigation and COEs 17:32 Moving to the Vendor Side at Accolade 20:21 Lessons Learned from Vendor Experience 22:19 From Struggles to Success: Building a Winning Team 26:02 The Art of Selling: Traits of Great Salespeople 28:34 Customer-Centric Approach: The Key to Sales Success 33:44 Innovating in Healthcare: The Role of Employers 38:26 Navigating the Digital Health Landscape: Common Pitfalls 40:38 Future Trends in Healthcare: Winners and Losers 42:45 Balancing Work and Health: Personal Insights Follow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast

In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Pramod John, CEO of VIVIO, who discusses his journey from technology to healthcare, the inefficiencies of the current healthcare system, and the mission of VIVIO to provide data-driven solutions that improve patient outcomes while reducing costs. Pramod emphasizes the need to rethink the role of pharmacy benefit managers (PBMs) and advocates for a healthcare model that prioritizes transparency and efficiency. He shares insights on the importance of data in healthcare decision-making and the responsibility of leaders to act in the best interests of patients and the healthcare system. Takeaways 💡 Pramod John transitioned from tech to healthcare to address large-scale problems. 💰 The U.S. spends almost as much on healthcare as the rest of the world combined. 🕵️‍♂️ Healthcare inefficiencies are likened to a 'mobbed up' industry. 🚫💊 VIVIO aims to eliminate the need for PBMs in healthcare. 📊 Data is crucial for determining the right drug for the right patient. 🏥 Healthcare should be treated as a public trust, not a public trust fund.🎯 The right drug for the right person at the right price is VIVIO's mission. ⚠️ Incentives in healthcare often lead to poor decision-making. ❌📦 The PBM model is unnecessary and should be replaced. 🧑‍⚕️💬 Healthcare leaders have a social responsibility to act in the best interests of patients. Chapters 00:00 Introduction to Pramod John and VIVIO 02:05 The Shift from Tech to Healthcare 04:13 Understanding Healthcare Expenditures 07:03 Founding Oration and Lessons Learned 15:07 Building Teams and Managing People 18:02 The Mission of VIVIO 23:01 Data-Driven Healthcare Solutions 26:56 Challenging the PBM Model 31:00 The Case Against PBMs 36:10 Incentives and Accountability in Healthcare 39:34 The PBM Tax and Its Impact 39:44 Using Data for Effective Drug Management 45:17 Personal Health Practices and InsightsFollow, connect and subscribe:LinkedIn: https://www.linkedin.com/company/digital-health-heavyweights-podcastYoutube: https://youtube.com/@DigitalHealthHeavyweightsInstagram: https://www.instagram.com/digitalhealthheavyweights/TikTok: https://www.tiktok.com/@heavyweightspodcast