Digital Health Heavyweights
This conversational podcast brings you exclusive interviews with all the Heavyweights in Digital Health. Hosted by Norm Volsky, a top industry headhunter, whose team helped scale companies including Livongo, Hinge Health, Lyra, Virta, Progyny and many more. This series will bring listeners insights into the latest trends, technologies, and strategies driving the digital health revolution.
In each episode, Norm sits down with some of the most influential and innovative leaders in healthcare technology today from legendary founders who have built successful companies, venture capitalists who have led funding rounds, HR/Benefits leaders at forward thinking companies, Consultants and Brokers at the top benefits consulting firms, and other impactful visionaries challenging the status quo in healthcare. Listeners can learn from the industry greats who have created what we now know as health benefits, and who are changing the face of healthcare as we know it.
Whether you're a healthcare professional, a tech enthusiast, a start-up founder, benefits aficionado, jobseeker in Digital Health, or simply curious about the future of healthcare, Digital Health Heavyweights has something for you.
Digital Health Heavyweights
Episode 30: Spencer Smith, SVP of Sales at Pareto Health
In this episode of the Digital Health Heavyweights podcast, Norm Volsky interviews Spencer Smith, SVP of Sales at Pareto Health. They discuss Spencer's journey in the healthcare industry, the misconceptions surrounding stop-loss insurance, and the benefits of self-funding for mid-sized employers. Spencer shares insights from his time at Plan Sight, the culture at Pareto, and the importance of leadership traits in healthcare. The conversation also touches on the role of brokers, the impact of digital health vendors, and future trends in the industry. Spencer emphasizes the need for trust and transparency in healthcare, as well as the personal growth he has experienced through podcasts.
Takeaways
🎓 Spencer Smith's journey into healthcare began by chance after college.
📉 Many employers treat stop-loss insurance as a commodity, missing the bigger picture.
🏢 Self-funding is not just for large employers; most employees are in self-funded plans.
🔓 Pareto Health offers a unique solution by unbundling healthcare components for employers.
🤝 The culture at Pareto is driven by a mission to support small to mid-sized employers.
🧘 Effective leadership in healthcare requires empathy, attitude, and self-care.
❗ Many misconceptions exist about self-funding among mid-sized employers.
💼 Brokers may have incentives to keep employers fully insured, impacting their advice.
🖥️ Digital health vendors play a crucial role in enhancing healthcare solutions.
🎙️ Podcasting has opened new doors for Spencer, enhancing his credibility in the industry.
Chapters
00:00 Introduction to Spencer Smith and Pareto Health
03:18 Common Misconceptions about Stop Loss
07:27 Transition to Pareto Health and Its Mission
11:17 The Role of Captives in Healthcare
13:33 Simplifying Self-Funding for Mid-Size Employers
14:15 Explaining Risk Financing
15:20 Success Stories from Pareto Health
16:23 Memorable Sales Experiences
18:06 Attracting Talent to Pareto Health
19:36 Company Culture at Pareto Health
20:33 Traits of Effective Leaders
24:35 Misconceptions about Healthcare for Mid-Size Employers
25:31 The Role of Brokers and Consultants in Self-Funding
27:46 Understanding When to Stay Fully Insured
30:01 Integrating Digital Health Solutions
31:46 Evaluating Return on Investment in Health Solutions
34:20 The Future of Captives and Primary Care
36:14 Lessons from Podcasting
39:46 The Impact of Personal Branding in Business
48:20 Maintaining Health and Wellness in a Busy Life
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