Empowered Patient Podcast Simplifying the Healthcare Model to Cut Costs and Improve Access with Mark Newman Nomi Health
Mark Newman, CEO of Nomi Health, focuses on building an operating system for self-insured healthcare to lower costs, remove friction, and simplify the transaction process for employers and providers. Nomi emphasizes holistic preventative healthcare by eliminating barriers like deductibles and copays to encourage the utilization of primary care, mental health, and other services. The company leverages technology, AI, and asynchronous care to improve access to diverse communities, including Spanish-speaking and low-income workers.
Mark explains, "Our model, starting from scratch and starting from a blank sheet of paper, is focused on getting providers out of the collection business so they can focus on the care business. Simplifying the entire transaction of buying and paying for healthcare has been a revolutionary way for our customers to cut their healthcare costs by 20% to 30%. And someday, I think we can hit 50%."
"Last time I checked the cost curve in American healthcare has not slowed down and has done nothing but accelerate. So, in my book, I think value-based care has pretty much failed and has been more of a pipe dream versus reality. Our world is how do we take the same doctors, same care and cut 25% of the cost out of it by removing all the friction and pain points and ambiguity and noise as it relates to what an employer pays for healthcare and what a provider collects for delivering that healthcare. We're betting on our model and hope for the best on things like value-based care or other models, but we haven't seen the results delivered yet."
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