Ep. 32: How your business can lower their healthcare costs with Dr Stephen Schimpff
This episode of Surviving Healthcare is a continuation of direct primary care with practical applications. You will hear how business, both large and small, can implement direct primary care to both improve the healthcare of their employees and decrease what they are paying for medical costs. Joining me on the show again is Dr. Stephen Schimpff. Dr. Schimpff is an internist with training and board certifications in internal medicine, medical oncology and infectious diseases. Dr. Schimpff was a clinician, educator and researcher before taking on multiple leadership roles within the University of Maryland Medical System, which is recognized as one of the largest and most prestigious medical systems in the country and even the world.
You will hear Dr. Schimpff begin by summarizing direct primary care and immediately dive into how direct primary care is of great benefit to patients by building a stronger, more personal relationship. Additionally, physicians have more time to spend with their patients in this model of care. Dr. Schimpff gives several specific examples to illustrate the potential savings, by using models championed by specific companies.
Dr. Schimpff then discusses the new dynamic between the patients, employers and insurance companies. He explains how he envisions the future, which I found very interesting and I believe you will, too.
You’ll hear specific scenarios in which companies can convert their current health benefit systems into a direct primary care model, while getting a better handle on care and costs. Specifically, we discuss how this approach gives patients more control over their care and reduces the waste in the system. You will hear how self funded groups as well as fully insured groups can implement this in their business.
Dr. Schimpff explains how direct primary care helps “the sickest of the sick” by discussing a company that is doing just that around his area. If the quality of outcomes is better and the cost savings are realized while serving these Medicaid patients, which you’ll hear about, then this model can be applied in your company.
The bottom line is, doctors and patients are not getting the time to develop a relationship which is critical to better healthcare. Direct primary care allows a return to relationship medicine and drops the total cost of healthcare and it is a model you can employ as an individual or a company today.
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