Episode 56 - Matthew Sydney, Chief Executive Officer at Beanstalk Benefits

Welcome back to the Digital Health Heavyweights for Episode 60!In today’s episode, Norm Volsky interviews Jon Stout, the president of Motivo Health. They discuss Jon’s journey into healthcare, the importance of leadership in career growth, and the transition from corporate to startup culture. Jon shares insights on value-based care from his time at Blue Cross Blue Shield, the lessons learned at AbleTo, and the significance of building authentic relationships in sales. They also explore the mission of Motivo Health in addressing the therapist shortage and the key traits of successful startup CEOs, all while emphasizing the importance of personal health and wellness practices. Takeaways💼 Jon Stout's journey into healthcare began unexpectedly after studying accounting. 👥 The importance of leadership and mentorship in career decisions cannot be overstated. 🌟 Delivering amazing work and having a positive attitude can lead to career advancement. 🚀 Transitioning from a corporate environment to a startup can be challenging but rewarding. 💡 Value-based care was a new concept that John helped implement at Blue Cross Blue Shield. 🤝 Building authentic relationships is crucial in sales and networking. 🍭 Lollipop moments are significant experiences that can change the trajectory of a business. 📊 Understanding the venture capital landscape can enhance leadership effectiveness in startups. 🩺 Motivo Health aims to improve therapist licensing rates and address the therapist shortage. 🌱 Creating a positive company culture involves allowing employees to be their authentic selves. Chapters00:00 Introduction to Jon Stout and Motivo Health02:00 Jon's Journey into Healthcare06:02 The Importance of Leadership in Career Growth11:44 Transitioning from Corporate to Startup19:05 Navigating Value-Based Care Contracts23:17 The Challenges of Startup Life24:22 Joining AbleTo and Its Mission27:39 Building Authentic Relationships in Sales32:33 Lollipop Moments: Defining Success in Startups36:52 Transitioning to Venture Capital: Insights and Learnings40:12 Motivo's Mission: Addressing the Therapist Shortage46:58 Key Traits of Successful Startup CEOs49:20 Creating a Positive Company Culture51:30 Personal Health and Wellness Practices53:44 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 59! Today, Norm Volsky interviews Laurel Pickering, CEO of the St. Louis Area Business Health Coalition. Laurel shares her journey from a background in anthropology to becoming a leader in healthcare transformation. She discusses the evolution of healthcare benefits, the challenges and successes of building coalitions, and the importance of employer leverage in influencing the healthcare system. Laurel also highlights the need for integration of digital health solutions and the role of policy advocacy in improving healthcare access and quality. She concludes with personal insights on wellness and healthy living. Takeaways🪶 Laurel Pickering transitioned from archaeology to healthcare through medical anthropology. 🏢 Employers have significant leverage to influence healthcare systems. 💰 The healthcare benefits landscape has shifted back towards first-dollar coverage. 🤝 Coalitions can drive change by getting health plans to collaborate. 😓 Point solution fatigue is a growing concern among employers. 💼 Employers are increasingly focused on the employee experience in healthcare. 🏥 Direct contracting between employers and health systems is on the rise. ❓ The ROI claims made by vendors are often met with skepticism by employers. 💪 Wellness strategies, including exercise, are crucial for managing stress. 🍣 Simple, healthy recipes like air-fried salmon can promote better eating habits. Chapters00:00 Introduction and Background03:15 The Role of Employers in Driving Change07:33 The Evolution of Healthcare Benefits12:01 Bringing Together Stakeholders19:03 Understanding the Target Audience in Healthcare Marketing22:21 Buying Differently: Driving Transformation in the Market26:15 Driving Healthcare Transformation: Leadership Buy-In and Consultant Support32:38 The Vision for the St. Louis Area Business Health Coalition38:32 Policy Advocacy and Impacting Legislation41:41 Employer Priorities: Cost, Employee Experience, and Health Improvement44:33 Employer Expectations and Building Trust with Vendors46:34 The Future of Healthcare: Integration of Point Solutions and Direct Contracting48:25 Reducing Stress and Healthy Recipes: Salmon in the Air Fryer52:12 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 58! Today, Norm Volsky interviews Chris Fisher, founder of BenefitsAlly. Chris shares his journey into the healthcare industry, the inspiration behind BenefitsAlly, and the innovative 3x3x3 challenge that aims to simplify the presentation of employee benefits solutions. The conversation delves into the importance of operational execution, the role of brokers and consultants, and common misconceptions about them. Chris also discusses the future of Benefits Ally, industry trends, and his personal wellness practices, emphasizing the need for clarity and differentiation in the benefits space. Takeaways🌟 Chris Fisher's background in healthcare is deeply rooted in family influence. 🔍 The 3x3x3 challenge is designed for brevity and clarity. ⚙️ Operational execution is critical in the employee benefits industry. 🤝 Brokers and consultants are often underestimated in their intelligence and capabilities. 🏗️ Reputation in the healthcare industry can take years to build and moments to destroy. 🚀 Innovative approaches are needed to keep up with the evolving benefits landscape. 📞 The importance of being responsive and easy to work with cannot be overstated. 📚 Content should be accessible and not gated to encourage learning. 💡 The future of healthcare requires a focus on lowering costs and improving quality. 🧘 Personal wellness practices can help manage stress in a demanding industry. Chapters00:00 Introduction to Chris Fisher and BenefitsAlly05:33 The Inspiration Behind BenefitsAlly12:10 The 3x3x3 Challenge Explained17:01 Value Creation and Networking in BenefitsAlly22:47 Common Misconceptions About Brokers and Consultants30:26 Future Vision for BenefitsAlly36:26 Industry Trends and Areas for Growth44:19 Predictions for the Future of Healthcare46:22 Personal Wellness and Healthy Living51:03 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 57! In today’s episode, Norm Volsky interviews Dr. Madhavi Vemireddy, CEO of Cleo, who shares her journey from traditional medicine to digital health. With over 24 years of experience, Madhavi discusses her roles in various health organizations, the founding of Care Tribe, and the importance of supporting caregivers. She emphasizes the need for integrated health solutions for families, particularly those in the sandwich generation, and highlights the innovative approaches Cleo is taking to address these challenges. The conversation also touches on the importance of clinician involvement in tech, hiring philosophies in growth-stage companies, and personal wellness practices. Takeaways 🩺 Madhavi's journey into medicine was influenced by family expectations.  🔄 Transitioning from hospital care to digital health was a pivotal career move.  📊 Building advanced analytics in healthcare can improve patient outcomes.  🤝 Caregiving support is often overlooked in traditional healthcare models.  🌟 Cleo aims to empower caregivers through technology and human expertise.  👪 The sandwich generation faces unique challenges that require comprehensive support.  💬 Member experiences at Cleo highlight the importance of personalized care.  📖 Real stories from members illustrate the impact of caregiving support.  👩‍⚕️ Clinicians in tech can bridge gaps in healthcare delivery.  🚀 Hiring for growth-stage companies requires flexibility and a collaborative mindset.   Chapters 00:00 Introduction to Dr. Madhavi Vemireddy04:13 Experience at Active Health Management09:39 Founding Care Tribe and Personal Motivation16:40 Combining Analytics with Human Expertise at Care Tribe20:05 Challenges and Successes in Building Care Tribe24:11 Joining Clio and Integrating Services27:46 The Sandwich Generation and Comprehensive Support32:23 Member Experience at Cleo35:45 Impactful Member Stories38:39 The Need for Clinicians in Tech42:34 Hiring Philosophy in Growth Stage Companies45:47 Future of Cleo and Digital Health Innovations47:37 Personal Wellness Practices50:09 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 56!In this episode , Norm Volsky interviews Matt Sydney, founder and CEO of Beanstalk Benefits. They discuss Matt's extensive background in healthcare technology, his transition to CEO roles, and the founding of Beanstalk Benefits. The conversation explores the challenges and innovations in the benefits space, the importance of technology in personalizing employee experiences, and the vision for the future of digital health. Matt shares insights on leadership, funding in a challenging market, and his personal wellness practices, emphasizing the need for a holistic approach to employee benefits. Takeaways🏥 Matt Sydney has over 25 years of experience in health technology.  🤝 Leadership requires surrounding yourself with a strong team.  📲 The benefits landscape is evolving with technology and personalization.  🌱 Beanstalk Benefits aims to simplify access to diverse employee services.  💰 Funding in 2023 was challenging but necessary for growth.  🙌 Employee-driven solutions are key to successful benefits programs.  🗣️ The importance of listening to user feedback in product development.  🔗 Consolidation in digital health is a growing trend.  🧘 Personal wellness practices are essential for leaders in healthcare.  🚀 The future of benefits will focus on personalization and accessibility.   Chapters00:00 Introduction to Matt Sidney and Beanstalk Benefits01:52 Matt's Journey in Healthcare and Leadership05:20 Transitioning to CEO Roles and Lessons Learned11:09 The Vision Behind Beanstalk Benefits18:02 Building Beanstalk: Challenges and Successes21:56 Funding and Market Conditions in 202331:05 Future Trends and Predictions in Benefits Space41:03 OutroFollow, 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

SummaryWelcome back to the Digital Health Heavyweights Podcast for Episode 55! In today’s sit down , host Norm Volsky interviews Nikhil Marathe, a senior principal at Juxtapose. Nikhil shares his unique journey into healthcare, contrasting it with the typical paths of many in the industry. He discusses his experiences at TA Associates and SilverSmith Capital Partners, highlighting the challenges and successes he faced in private equity. Nikhil emphasizes the importance of understanding the strengths and weaknesses of founders when investing and shares insights on strategic discussions within boardrooms. He also explains Juxtapose's innovative approach to sourcing deals and building companies, particularly in the healthcare sector. The conversation concludes with Nikhil's personal wellness strategies and healthy cooking tips for families. Takeaways 🌟 Nikhil's path to healthcare is unique, coming from a tech background.  ⏳ Healthcare is lagging behind other industries by about 10 years.  💡 The juxtaposition of innovation in tech and stagnation in healthcare piqued Nikhil's interest.  🤝 Building relationships with entrepreneurs is crucial in private equity.  📈 Success in private equity requires understanding market dynamics and valuations.  🔍 Nikhil emphasizes the importance of domain expertise in founders.  ⚙️ Strategic M&A discussions are vital for growth in healthcare companies.  🛠️ Juxtapose focuses on creative buy-and-build strategies in healthcare.  🧠 Nikhil values openness and a learning mindset in founders.  🥗 Wellness and healthy eating are important aspects of Nikhil's life.   Chapters 00:00 Introduction to Nikhil Marathe04:07 The Lag in Healthcare Innovation07:40 The Growth of SilverSmith Capital Partners13:33 Challenges and Successes at SilverSmith20:22 Proud Moments and Successes at SilverSmith22:16 Adding Value as a Private Equity Partner24:28 Qualities to Look for in Founders27:31 Strategic Discussions that Shape Healthcare Organizations33:09 The Process of Sourcing Deals in Healthcare38:11 Joining Juxtapose and the Concept Development Team41:21 Partnering with Portfolio Companies at Juxtapose43:17 Ideation and Focus Areas at Juxtapose49:34 Reducing Stress and Maintaining Physical Health52:39 Cooking Healthy Meals for the Family54:52 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 54! In today’s episode, Norm Volsky interviews Chris Crawford, founder and CEO of RX Save Card. They discuss Chris's journey into healthcare, his experiences at Health Strategy, and the complexities of the pharmacy benefits management (PBM) landscape. Chris shares insights on the importance of having experts in the field, the role of consultants, and the impact of recent lawsuits on PBM practices. The conversation also covers the innovative solutions offered by RX Save Card to help employers save on prescription costs, the member experience, and the future of the PBM market. Takeaways🩺 Chris Crawford transitioned from accounting to healthcare to help people.  📊 Health Strategy provided Chris with a deep understanding of pharmacy benefits.  ⚖️ Employers need to be cautious about their relationships with PBMs.  💊💰 RX Save Card aims to help employers save on prescription costs.  🔍⚖️ The pharmacy benefits landscape is under scrutiny due to recent lawsuits.  🧑‍🏫 Consultants play a crucial role in navigating PBM relationships.  💡 Innovative solutions are needed to address high prescription costs.  🌐✨ The member experience with RX Save Card is designed to be seamless.  🤝📈 Fundraising for RX Save Card was relationship-driven and focused on product development.  🔮🛒 The future of the PBM market will involve more transparency and choice. Chapters00:00 Introduction and Background03:02 Revolutionizing Employer-Sponsored Prescription Benefits09:56 The Role of Consultants in Guiding Employers12:36 Challenges and Opportunities in Precision Pharmacy16:43 Balancing Cost Savings and Trust in Healthcare19:16 The Impact of ERISA Class Action Lawsuits19:40 Eye-Opening Experience of Prescription Drug Costs21:34 RxSafecard: Getting Rid of Waste in PBM Spend23:42 Accessing Lower Drug Prices Outside of PBMs25:29 Implementing RxSafecard and Getting It Up and Running32:10 Coexistence with New Age PBMs36:17 Predictions for the PBM Market38:36 Practicing What You Preach: Fitness and Healthy Eating41:07 OutroFollow, 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

Welcome back to Episode 53 of the Digital Health Heavyweights Podcast! In today’s episode, Norm Volsky interviews Bud Flagstad, CEO of Empower Health. Bud shares his journey from a young tech enthusiast to a leader in healthcare technology, detailing his extensive experience at UnitedHealth Group and the innovations he spearheaded. He discusses the challenges of working in large organizations versus startups, the role of AI in healthcare, and how Empower Health is leveraging technology to improve patient engagement and reduce costs. Bud also opens up about his personal health journey, stress management techniques, and the importance of healthy living. Takeaways  🤖 Bud's early exposure to technology shaped his career in healthcare. 🏥 His experience at UnitedHealth Group provided valuable insights into the healthcare system.💡 Innovation in telehealth was a significant achievement during his tenure at UHG.🤖 Empower Health focuses on AI-driven solutions to enhance patient engagement.🌱 Bud emphasizes the importance of adaptability in different organizational environments. 🩺 AI can help reduce clinician burnout and improve care delivery efficiency.🌐 The platform developed by Empower Health supports multiple languages and modalities. 🏃‍♂️ Bud's personal health journey highlights the impact of lifestyle changes on well-being. 🔮 The future of AI in healthcare is promising, with potential for significant advancements. 🍳 Bud's passion for cooking serves as a stress relief and a way to maintain a healthy lifestyle. Chapters00:00 UPDATED Animation INtro.mp400:10 Bud Flagstad's Journey in the Healthcare Industry03:12 Building an Innovation Team at UnitedHealth Group05:57 Developing Telehealth Solutions13:09 Building Mobile Solutions in Healthcare20:23 Identifying Gaps in the US Healthcare System23:14 Becoming CEO of Empower Health25:16 Empower Health's Solutions for Care Manager and Nurse Shortages30:46 Impressive Results: Cost Savings and Engagement35:54 Empower Health's Vision for the Future of AI in Care Delivery39:31 Bud Flagstad's Role as a Board Member and Advisor45:00 Managing Stress and Practicing Wellness in a Stressful Job47:38 Healthy Recipes and Lifestyle Changes49:11 OutroFollow, 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

Welcome back to The Digital Health Heavyweights Podcast for Episode 51! In today’s episode, Norm Volsky interviews Dan Nardi, CEO of Reimagine Care. They discuss Dan's journey through various leadership roles in healthcare, including his time at Livongo and Carrum Health, and how these experiences shaped his approach to building teams and culture. Dan shares insights on the importance of operations in startups, the challenges of hiring, and the transformative impact of Reimagine Care on cancer treatment. The conversation highlights the need for patient-centric care, the financial implications of innovative healthcare models, and Dan's vision for the future of cancer care. Additionally, they touch on personal wellness and the importance of maintaining a healthy work-life balance as a leader. Takeaways 🌟 **Dan Nardi** emphasizes the importance of team and culture in successful startups.⚙️ The role of operations is crucial in scaling businesses effectively.🔍 Hiring the right fit at the right time is essential for growth.🩺 **Reimagine Care** aims to transform the cancer treatment experience for patients.🏥 Patient-centric care can significantly reduce ER visits and improve outcomes.💰 Financial implications of innovative care models benefit both patients and providers.🚀 Successful founders share a passion for their mission and resilience in the face of challenges.🤸‍♂️ Flexibility and adaptability are key traits for early hires in startups.🔄 Building a culture of feedback fosters open communication and growth.🧘‍♂️ Personal wellness practices are vital for maintaining balance in leadership roles. Chapters00:00 Introduction and Background03:53 Building a Strong Team and Culture07:41 Hiring the Right People19:46 Creating a Culture of Feedback25:55 Working on the Business33:19 Building a Strong Foundation36:40 Quick Decision-Making and Learning Mentality39:51 Joining Reimagine Care as CEO44:49 Bringing Quality Cancer Care into the Comfort of Home53:15 Traits of Successful Founders and Early Hires in Startups01:00:27 Practicing Wellness: Morning Workouts and Healthy Meals01:04:00 OutroFollow, 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

Welcome back to the Digital Health Heavyweights Podcast for Episode 51! Today, Norm sits down with Emily Durfee, partner at Healthworx Ventures, who shares her journey in venture capital and her experiences in the healthcare industry. She emphasizes the importance of diverse perspectives in venture capital and the value of hiring people with different skills and strengths. Emily also discusses her role as a product operations manager at Clover Health and the challenges and successes she faced. She highlights the need for effective leadership and creating a culture of respect and value within a team. Emily shares her experiences in East and West Africa and the lessons she learned about healthcare systems and the importance of incentives. She also mentions the healthcare initiatives she was involved in during her time at Optimizer Foundation. Emily joined Healthworx during the COVID-19 pandemic and found a sense of purpose in working in the startup ecosystem. She values learning every day, working with people she likes and respects, and having a mission that aligns with her values. Healthworx sets itself apart by providing access to the knowledge and expertise of a payer, which is rare in the venture capital world. Emily emphasizes the importance of understanding the customer's top five problems and articulating why your solution is a top value proposition for them. She also shares her love for exercise and being active outdoors as a way to manage stress. In terms of healthy eating, she enjoys buying fresh, locally grown ingredients from the farmer's market and making salads. Takeaways🌐 **Diverse perspectives in venture capital are crucial for making well-rounded investment decisions. **🤝 **Effective leadership involves hiring people with different skills and strengths and creating a culture of respect and value within a team. **🌍 **Healthcare systems face similar challenges globally, such as engaging patients, ensuring an adequate number of healthcare professionals, and promoting adherence to treatment plans. **💰 **Incentives play a significant role in shaping healthcare systems, and different payment models can lead to different priorities and outcomes. **🏥 **Investing in healthcare initiatives can have a profound impact on improving access to care and quality of life for underserved populations. Joining Healthworx during the COVID-19 pandemic provided Emily with a sense of purpose and the opportunity to work in the startup ecosystem. **🔍 **Healthworx differentiates itself by providing access to the knowledge and expertise of a payer, which is rare in the venture capital world. **🩺 **Understanding the customer's top five problems and articulating why your solution is a top value proposition for them is crucial in healthcare. **🏃‍♀️ **Emily manages stress through exercise and being active outdoors. **🥗 **Emily enjoys buying fresh, locally grown ingredients from the farmer's market and making salads. ** Chapters00:00 Empowering Entrepreneurs in Venture Capital03:00 Balancing Solutions in Product Operations05:47 Leadership and Team Building09:20 Universal Challenges in Healthcare Systems23:47 Emily's Journey in Healthworx: From Joining to Leading26:28 Venturing into Healthcare: Focus, Organizations, and Uniqueness30:23 Crucial Traits and Advice for Startup Founders in Healthcare35:06 Challenges and Wellness in Venture Capital42:39 Balanced Lifestyle and Healthy Recipes45:55 OutroFollow, 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