Changes in Self-Funding and the Emergence of Artificial Intelligence in Healthcare

This chapter explores the changes in self-funding over the years, including advancements in accommodation and claims processing. It also delves into the emergence of artificial intelligence in the healthcare industry and its potential impact on the future. The chapter concludes with a comparison of healthcare systems between the United States and Belgium.

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The History of Self-Funding - Larry Turell

Have you ever wondered how self funding in the insurance industry evolved over the years? Wonder no more because that is the theme of this episode of the Self-Funded with Spencer podcast.

In our latest episode, host Spencer Smith and Larry Turrell dive into the fascinating history of self funding, from its humble beginnings to the innovative strategies used today.

Discover how Larry's father helped pioneer one of the very first self funded plan for small to medium sized businesses, and how he passed on that expertise to his son, albeit with apparently some colorful disagreements along the way.

Long before the world of benefits consulting, Larry was a bat boy for the New York Yankees. Larry actually met George Steinbrenner on an airplane at 17, and after making conversation with him, George asked if he would like to work concessions at Yankee Stadium. Larry brazenly said "no, but I would like to be a batboy"!

And not only did he end up getting to perform that job as a teenager for a whopping $29/game at the time, he was also on field during the infamous "Pine Tar" game with George Brett. Larry hilariously recounts the story on the podcast, and it is definitely one to not miss!

In this episode, Larry also opens up about his transition from working with his father to becoming an expert in his craft. He shares how he learned to always aim to "be better than the next guy", constantly expanding his knowledge and expertise.

But what sets Larry apart is his dedication to understanding the intricacies of self-funding and his commitment to providing the best solutions for his clients.

If you're curious to learn more about Larry's journey and gain insights into the world of employee benefits and consulting, this episode is a must-listen!

Don't miss out on this opportunity to hear from one of the best in the industry. Tune in to Self Funded with Spencer podcast now! 🎙️!

Timestamps:

(00:00:00) Adapting to Change in the Insurance Industry

(00:05:41) History of Self-Funding

(00:11:49) Bat Boy for the New York Yankees

(00:17:57) Expertise in Self-Funding

(00:24:03) The Power of Creativity in Problem Solving

(00:30:07) The Benefits of Self-Funding in Insurance

(00:35:35) Misconceptions about self-insurance

(00:41:30) Evolution of Self-Funding

(00:47:28) Evolution of Healthcare Processing

(00:54:02) The Benefits of Self-Funding