How Fiduciary Thinking Can Fix Healthcare: A Conversation with Donovan Ryckis

Donovan’s Background and the Birth of Ethos Benefits

Michael introduces Donovan Ryckis, CEO and founder of Ethos Benefits, a firm redefining how healthcare consulting is done. Donovan shares his journey from working as a fiduciary securities advisor in the financial services industry to launching Ethos Benefits. His shift to healthcare began when he helped a client navigate a 37% increase in premiums without cutting benefits. That experience revealed deep flaws in the traditional healthcare model and inspired his mission to bring fiduciary accountability and transparency to employer-sponsored health plans.

The Problem with Traditional Healthcare Brokers
Around the eight-minute mark, Donovan explains how most healthcare brokers operate within a commission-based system that rewards them for selling specific insurance plans, not for finding what’s best for their clients. He points out that many brokers rely on a one-size-fits-all model, favoring the interests of large carriers over those of employers and employees. This lack of fiduciary responsibility often results in organizations overpaying for healthcare, while employees shoulder higher costs with fewer benefits.

How Ethos Benefits Does It Differently
At thirteen minutes, the conversation turns to Ethos Benefits’ unique approach. Donovan describes how his firm acts as a true fiduciary, aligning its interests directly with each client. Instead of pushing prepackaged plans, Ethos takes time to understand the specific needs and goals of each employer. They often create internal benefits committees to ensure that decision-making is collaborative and data-driven. Their goal is to help organizations control costs while maintaining, or even improving, the quality of care their teams receive.

Practical Advice for Employers
At the twenty-two-minute mark, Donovan shares practical steps for employers who want to regain control over their healthcare spend. He encourages companies to regularly review their plans and claims data rather than defaulting to automatic renewals. Employers should study premium trends, identify cost drivers, and be open to exploring nontraditional or independent solutions outside the major carriers. By adopting a more proactive and fiduciary-based mindset, businesses can achieve significant savings without sacrificing benefits or employee well-being.

Closing Thoughts and Resources
As the conversation wraps up, Donovan invites listeners to visit Ethos Benefits’ website and watch the documentary “It’s Not Personal, It’s Just Health Care.” The film dives deeper into the systemic challenges within the healthcare industry and showcases how Ethos Benefits is helping employers bring transparency, accountability, and affordability back into employee health plans. Michael closes the episode by commending Donovan’s leadership and mission to make healthcare work for people, not profits.

 

Donovan Ryckis, an accidental healthcare advocate, left the securities industry after saving a client 40% on healthcare costs. He now helps employers control healthcare costs by aligning interests, disclosing financial data, and removing conflicts of interest inherent in the brokerage insurance sales model. He believes that employers can control healthcare costs and aims to inform employers who cover 183 million Americans.

http://linkedin.com/in/donovanryckis

Website:  https://ethosbenefits.com/

Documentary:  https://ethosbenefits.com/documentary/