Q4Live: We've got SHIFT to do!

This year’s Q4Live was held in Nashville, TN and as expected, it didn’t disappoint. The theme for Q4i this year is “Get your SHIFT together”, and I’m sure you can imagine the amount of fun we all had with the play on words at Q4Live. Ya, it was a SHIFTLOAD. But, jokes aside, I wanted to give everyone a more contemplative summary.

The rate at which the healthcare industry is changing and being disrupted is generating a mountain of opportunity for lots of different people, including employers who purchase healthcare and/or benefits for their employees. Many believe that the most efficient and affordable way to access our complex and expensive healthcare system is through INSURANCE. By and large, this is not true, but even worse, sometimes IT IS! We, along with many colleagues, are doing something about that, and it all starts with a SHIFT in our mindset. I don’t just believe change is possible, I’m actively participating with it. Everyone acknowledges the problems we face in healthcare, from the massive corporation spending hundreds of millions per year on healthcare, to the mother raising kids and balancing the checkbook at the kitchen table each night. We all recognize the problems, yet only a few are seizing the opportunities to change. Now more than ever, we need people to break the old rules, push harder, act faster, and confront comfort zones. We need challengers, thinkers, disrupters……and believe me, we are all capable. Change is rarely about our ability to change, and far more frequently about our willingness to change.

We are all capable of so much more than we think, and over the past few days, I’ve had that belief confirmed numerous times by numerous people. Solutions never arise by using the same ideas, the same beliefs, and the same processes we’ve always used. What got us here will not get us “there” (famous words of Mr. Kevin Trokey), no matter where “there” actually is. Most people do not realize this is a new era in healthcare, and it’s not the time to preserve the status quo. Now is the time for boldness. Now is the time for action. Innovations in healthcare, many of them, are no longer “theories” and “ideas or concepts”, they are proven solutions that are being slowly implemented in little pockets across the country. Many companies have yet to hear about most of these solutions much less are already implementing them. And even if you have heard of blockchain technology, do you really understand it? I know I struggle with that....

This week I spent several days collaborating with some of the brightest, most innovative people in the benefits/consulting industry; people who have patiently helped me SHIFT my biases, my mindsets, and my business itself. These people are challengers, deep thinkers, boisterous innovators, and passionate advisors. They are also problem-solvers. And it is this last attribute that draws me to them the most.

All of us would be hard-pressed to find a larger problem than our current state of healthcare. It’s bloated, it’s complex, it’s obfuscated, it’s expensive, and it’s not getting any better, is it? The state of our health insurance industry is no different. It’s bloated, complex, obfuscated, and expensive too! Isn’t it ironic? Don’t ya think? No, I really don’t think….but what is interesting is if you study exit polling data after elections, you know, when the pollsters ask the voters, “What is the biggest issue facing the country?”, healthcare is always at or near the top. So, needless to say, we are all familiar with the problems. We feel them, even if we don't fully understand them.

But the past few days has been more about sharing solutions, collaborating with one another in order to deliver those solutions to our clients and communities. One issue discussed at length was “What vendors can we use to help our clients lower the cost of healthcare/benefits?” Recently, there has been an explosion it seems in the healthcare vendor world. Technology solutions, reference based pricing vendors, level funding carriers, benefit administration platform companies, you name it, it’s out there. And it’s all entirely overwhelming to employers just looking to provide quality benefits to employees. This is a problem! But collaboration substantially shortens the vetting process for employers. Employers, If your current broker/consultant isn’t collaborating with others, your company is missing opportunities. If your current broker isn’t bringing new ideas each year, ask them to. Challenge them. A wonderful question just to ask your broker, “What are you doing to keep up with innovations and new strategies for us?” It’s a fair question, and more employers should be asking it.

 Another solution is “social proofing”. 

What is “social proof”, and does it work? Social proof is when you’re browsing for stock investment tips and you come across a tip from Warren Buffet. That’s social proofing. When your ideas are validated by people you trust, that’s social proofing. Essentially, it’s borrowing third-party influence to sway potential customers or a particular decision. Healthcare and health benefits are so complicated and frustrating, employers frequently rely on social proofing. Why? Because when it comes to healthcare/benefits, many employers find themselves in a situation where they are unsure of what to do. Insurance company is telling them to do one thing, incumbent broker is telling them to do something different, and yet another broker comes in and recommends something completely different than everyone else. How do you choose? It’s an important issue, and employers don’t want to make the wrong decision. Result? A perpetuation of the status quo. It’s all about the devil you know vs. the devil you don’t, right? So, employers, ask your brokers for references to other clients where they have solved similar problems, and ask to speak to them. A common theme at Q4Live: Brokers, let your clients speak for you, it’s a great way to validate your solutions.

In many of the side bar conversations I had, specific strategies were discussed in depth, and this is where the true value of collaboration is.  How can you source a $500/month medication for $20? The answer was given. How can you get a sleep study for $75 vs. $1000? The answer was given. How does Direct Primary Care impact my health plan? The answer was given. How can blockchain technology disrupt the way we access and navigate our healthcare system? The answer was given. These may seem trivial, but I assure you, when the person making $35,000 per year saves $480 per month on a single prescription medication, it’s not trivial to them. And my goodness, blockchain technology is so disruptive, it’s downright scary. Now is the time to SHIFT away from the status quo in healthcare and embrace different solutions. 

Another relevant theme in Nashville was, “Be a magnet, not a bullhorn”. Turns out, people don’t really like being “sold to” all the time……no SHIFT Sherlock……but they do like being helped and educated. Effective problem solvers have learned how to communicate effectively. They are magnets. Interesting point about magnets, they not only attract things, they repel things too. Attracting the right client is critical to success, but so is repelling the wrong clients. The exact same principle applies to employers as well. Attracting the right broker/consultant is critical for success, and so is repelling the wrong broker/consultant. Being a magnet means putting out your very best, so you can attract the ideal audience. Being a bullhorn is constant one-way speak. Honestly, no one gives two SHIFTS about bullhorns.

Q4Live isn’t just a conference, it’s a reunion of friends who deeply care about delivering results for their clients, and I would say that goes for the vendor partners who attend as well. I feel very fortunate to be a part of this great group of folks. Hats off to Q4Intelligence for yet another successful event in Nashville. It was the SHIFT……