Digital Disruption: Innovation and Health Plan Design & Health Insurance
In commercial health insurance, innovations are taking place to re-imagine health plan design. Daniel Corliss, Chief Executive Manager and Founding Partner at BSP (Business Stimulus Partners), and DC Angel spoke with Digital Disruption’s Hilary Kennedy about the changes he’s seeing.
“A lot is going on, but some of the critical components that are teed up for us today are the transparency laws that have taken effect,” Corliss said. These changes make hospital reimbursements and their contracts with different insurance providers non-secretive. “And so, every hospital system in the United States is supposed to be posting their contracts and their cash prices for all of their chargemaster services.”
Corliss said the current changes help determine the healthcare innovators worthy of investment from the venture capital side.
“I love the VC space because I can identify health tech entrepreneurs and founders that are creating awesome business models, technology, and products and services for the health plans that I serve,” Corliss said. “If I see something that I really like, and I see a startup that they’re doing things sustainably, ethically, and responsibly, and I want to help promote their growth and their success, I can invest capital into that company and then also insert them into the healthcare ecosystems and channel partnerships, to get them to rapid, scalable growth for that technology.”
Sometimes, Corliss said, innovators get stuck because they have great technology but don’t know what to do with it or how to make the right connections to bring the technology into the marketplace in a scalable way. That’s where businesses like Health Wallet can help make sense of the technology and put it to use.