Affordable Healthcare Made Simple - Hooray Health - Shane Foss, CEO

Affordable Healthcare Made Simple

Introduction:

Today, we're diving into the world of affordable and accessible healthcare benefits for hourly employees. Meet Hooray Health, a game-changer in the industry that aims to bridge the gap between basic healthcare needs and major medical insurance. With their innovative approach and data-driven insights, Hooray Health is revolutionizing the way we think about healthcare. So, let's jump right in and explore their journey!

The Birth of a Vision:

Shane Foss, the CEO and founder of Hooray Health. They recognized the lack of transparency and affordability in urgent care services and saw an opportunity to make a difference. Inspired by the success of their urgent care model and its similarities to direct primary care, they decided to create a bundled or flat rate system for urgent care visits.

Overcoming Challenges and Building a Network:

To make his vision a reality, Shane gathered urgent care doctors for a roundtable discussion. By identifying common issues and pain points, they developed a contract that was met with enthusiasm by the doctors. This contract offered a $25 copay with no balance bill, eliminating the dreaded surprise medical bills that plague so many.

Building a network of providers in major metro areas was no easy task, but Hooray Health persevered. Within six months, they established contracts with over 50% of urgent cares in the United States, covering 85% of the population within 10 miles of a contracted provider. Talk about accessibility!

Scaling Up and Success:

After their initial success, Hooray Health expanded nationally within two years. Today, they boast a high retention rate and have not lost a client in four years. Siemens Energy, a client for five years, is a testament to the trust and satisfaction their services provide.

Understanding the Limitations:

It's important to note that Hooray Health is not major medical insurance. Instead, it serves as a valuable alternative for those who don't have insurance or need additional coverage. While they cover basic healthcare needs, they do have limitations for catastrophic events. However, they can sit underneath a subsidy on the exchange for individuals who weren't offered an employer-sponsored health plan.

Innovation and Collaboration for a Better Future:

Hooray Health's success story goes beyond providing affordable and accessible healthcare benefits. Spencer and Shane emphasize the need for improved access, transparency, and collaboration between the government and the industry. They believe that by working together, we can address the current issues plaguing the healthcare system and pave the way for a brighter future.

Data-Driven Insights:

Hooray Health's approach is not just based on intuition; it's backed by data. By analyzing information from the CDC and IHS, they determined the most common healthcare needs for their population. Surprisingly, hospitalization accounts for less than 5% of the cost for individuals under the age of 50. Armed with this knowledge, Hooray Health focuses on providing comprehensive coverage that truly meets the needs of their members.

Conclusion:

Hooray Health's journey is a testament to the power of innovation and collaboration in the healthcare industry. By focusing on affordability, accessibility, and meaningful benefits, they are filling the gap for hourly employees who deserve quality healthcare without breaking the bank. With their mobile app, provider network, and commitment to doing the right thing for their members, Hooray Health is paving the way for a future where healthcare is truly accessible to all.

So, let's raise a cheer for Hooray Health and their mission to revolutionize healthcare! Together, we can build a system that prioritizes the well-being of every individual, regardless of their employment status or income level.

Here's to a healthier and happier future for all!

Chapters:
00:00:00 Hooray Health: Affordable and Accessible Healthcare
00:05:39 Opportunity in Urgent Care
00:11:55 Scaling a Direct Primary Care Model
00:18:07 Success in Implementation and Client Management
00:24:53 High Deductible Pregnancy Coverage
00:31:04 Affordable Alternative to Major Medical Insurance
00:37:22 Expanding Access to Affordable Healthcare
00:44:00 The Future of Healthcare

[candacieaharry]

I'm sitting holding back my tears at my doctor's office. My doctor office is trying to call them to verify my benifits I'm trying to call them. They hung up on me refused to answer my calls. So I got turned away from my doctor office until they can verify my insurance. They take my money on time every month tho.