In this episode of Relentless Health Value, Stacey Richter engages with Mark Newman, CEO and founder of Nomi Health, in a deep dive into the administrative and transactional inefficiencies plaguing the American healthcare system.
The conversation highlights how plan sponsors often spend more than a dollar to purchase healthcare, yet healthcare providers receive only a fraction of that amount due to data fragmentation and varied accounting practices. Mark Newman reveals two main issues: 'data isn't data' and 'a dollar isn't a dollar,' explaining how inconsistencies and misalignments in data and accounting methods lead to significant waste.
The discussion also explores innovative solutions Nomi Health is piloting to streamline payments, reduce friction, and ultimately lower healthcare costs while improving care.
=== LINKS === 🔗 Show Notes with all mentioned links: https://cc-lnk.com/EP496
🔗 Visit our sponsor Nomi Health: https://www.nomihealth.com/
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06:48 What is actionable to know about the life of a claim?
08:14 How data can change as it moves through the claims process.
11:45 Why a dollar isn't a dollar in healthcare.
18:50 Why employers are actually paying more than a dollar to access a dollar of healthcare (the medical loss ratio).
21:54 Why cutting out the "friction" is actually better for employees and members.
22:48 EP482 with Preston Alexander.
22:50 EP472 with Eric Bricker, MD.
23:36 EP490 and EP492 with Sam Flanders, MD, and Shane Cerone.
23:53 Infographic by Andrew Tsang showing 27 streams of income.
26:53 How do we fix these issues?
28:05 LinkedIn comment from Sandra Raup.
28:59 How Nomi Health is experimenting with a no co-payment, no deductible model.
31:29 INBW42 with Stacey on moral hazard.
32:26 EP486 with Stan Schwartz, MD.
32:31 EP485 with Cristin Dickerson, MD.
32:56 The Innovator's Dilemma by Clayton M. Christensen.
34:55 How does Nomi Health work with and help employers?
