state of the onion rich novack, gm special accounts & public entities a speech for the atlanta...
TRANSCRIPT
STATE OF THE ONION
Rich Novack, GM
Special Accounts & Public Entities
A Speech For The
Atlanta Association
of
Health Underwriters
______________________________
I. Go Back To the Late 80’s
– Trends Up
– Costs Up
– Rate Increases Every Six (6) Months
– Horrible Economy
– <20% Was Great
– No End In Sight
Slide 2 — 04/21/23 Company Confidential - Do Not Copy
II. Today
– Trends Up
– Costs Up
– No End In Sight
III. What’s The Difference
– The Economy
– Tons More Regulations
– Provider Empowerment
– Insurers Are Not Losing Millions
Slide 3 — 04/21/23 Company Confidential - Do Not Copy
IV.So What’s The Problem
– Is It The Cost of Healthcare
– Is It The Uninsured
– Is it Those Greedy Insurance Companies
– Is It The Consumer
– Is It The Regulators
– Is It The Media
Slide 4 — 04/21/23 Company Confidential - Do Not Copy
V. Let’s Use The “Novatrix” Approach To Lay Blame
Who Is To Blame?
Slide 5 — 04/21/23 Company Confidential - Do Not Copy
Docs Hospitals Insurers Politicians Media Consumer Novack
Docs N/A 1 3 0 N/A N/A N/AHospitals 1 N/A 1 0 0 0 N/AInsurers 3 5 N/A 1 1 1 N/APoliticians 1 1 3 N/A 0 0 N/AMedia 0 0 5 0 N/A 0 N/AConsumer 3 1 3 0 0 N/A N/ANovack 1 5 1 1 5 1 N/A
Total 9 13 16 2 6 2 N/A
Blame Bank -Insurer-Hospital-Rx Companies
VI.So Obviously We Need A Government Run Healthcare System
–The Single Show Stopper Question:
How will you feel if Medicare/caid is what you get paid for everything?
Slide 6 — 04/21/23 Company Confidential - Do Not Copy
VII. Where Is The Problem?
1. No One Really Wants To Bite The Bullet
• In spite of costs, no benefit buydowns
• Still a pretty solid economy
• I can cut your costs by 20% tomorrow
2. Lack Of Information Disseminated To The Consumer
• Recent BCBS story of GGL requirement
• No mention of BCBS Savannah
• Aetna & Piedmont
3. But the Uninsured…..
• The political debate about the uninsured has nothing to do with the uninsured
• Do they vote
• Are any uninsured by choice
• How many live where there is no access
• How do you count them
Slide 7 — 04/21/23 Company Confidential - Do Not Copy
VIII. Solutions
1. CDHP: Make the consumer choose and shop
and they’ll spend $ better.
Really?
-Literacy Rate
-Average Education
-Average Income
-Percent That Live In Poverty
2. Do Nothing
3. Restructure and rethink what the plan should
cover
IX. Predictions
Slide 8 — 04/21/23 Company Confidential - Do Not Copy