Shownotes
Wally Gomaa, CEO and Co-Founder of SimplePay Health, joins Michael in this episode of the Reconstructing Healthcare podcast to discuss how they’re empowering employees with high-quality care through easy-to-understand benefit design structures.
SimplePay Health aims to disrupt the healthcare industry by making the complicated elements of traditional health plans (deductible, coinsurance, confusing bills) a thing of the past while providing their members with the highest level of care. Based out of Dallas, Texas, SimplePay Health is taking on the status quo to reward employees for making choices that actually help lower overall costs.
As a former President of a national insurance carrier, CFO of a healthcare provider and a benefits consultant, Wally has gained unique insight into the healthcare industry and leverages the SimplePay Health platform to address some of the problematic issues within our healthcare delivery and payment system.
Here’s a glance at what you’ll learn from Wally in this episode:
- The payment system that SimplePay uses to make healthcare a breeze
- Why Wally wants price transparency to become price CERTAINTY
- How virtual care providers can provide higher quality care
- Why simplifying complexities could bring the largest change to the healthcare industry
Timestamps:
- 0:00 – Introduction & welcoming Wally to the show
- 1:05 – Who is Wally Gomaa and what is SimplePay Health?
- 2:35 – The Bike Accident: How being hit by a car changed Wally’s perspective on the healthcare industry
- 4:10 – Why haven’t price transparency tools & high-deductible health plans driven meaningful results?
- 7:10 – What is SimplePay Health doing to simplify health insurance?
- 11:20 – How to show patients the disconnect between quality and price for commodity healthcare services
- 13:35 – Using data to drive down costs whilst providing a higher quality service
- 17:45 – SimplePay Health’s approach to using networks
- 19:30 – Pharmacies & Aligning Incentives: How to reduce the formulary waste and price variations found at pharmacies & align incentives with employees
- 22:50 – Digital Health Providers vs Brick & Mortar Providers: How virtual care providers can provide higher quality care
- 25:20 – How SimplePay Health is implementing digital mental health services
- 27:00 – Member Experience: How do employees navigate their healthcare service when using SimplePay Health?
- 31:50 – Outcomes & Results: What results can employers expect when signing up to SimplePay Health?
- 35:10 – How payments are managed by SimplePay Health
- 38:50 – What is the satisfaction level of employers and employees who use SimplePay Health?
- 42:40 – The evolution, growth, and future of SimplePay Health
- 49:25 – How can people get connected with Wally and SimplePay Health?
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