Healthcare NOW Radio Podcast Network - Discussions on healthcare including technology, innovation, policy, data security, telehealth and more. Visit HealthcareNOWRadio.com The Virtual Shift: Adam V Russo on Correlation of Cost and Quality in Healthcare
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Apr 6, 2025 In this discussion, Adam V. Russo, Co-Founder and CEO of The Phia Group, dives into the intricate relationship between healthcare costs and quality. He emphasizes the pressing need for transparency as a vital step towards health equity. Adam critiques the current patient-centric model, revealing its inefficiencies and push for direct primary care. He also highlights rising healthcare costs, the importance of patient accountability, and how informed decisions can combat disparities in access to care. Get ready for an enlightening conversation!
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Founder Story and Mission
- Adam Russo founded The Phia Group with $4,000 working from his mother's basement, growing it to serve over 20 million people in 25 years.
- His company's mission is to provide the highest quality healthcare at the lowest possible price by empowering employers to control their plans through self-funding.
Cost vs Quality Transparency Lacking
- Healthcare costs continually rise, access worsens, yet no policies address the correlation of cost and quality.
- Unlike other markets, healthcare lacks transparent pricing and quality metrics for consumers to make informed decisions.
Consumerism Drives Price Drops
- LASIK prices dropped 80% due to consumerism and transparent pricing; surgery prices remain high due to lack of patient price sensitivity.
- Health insurance coverage drives up prices because patients focus only on copays and deductibles, not total costs.