75. Mark Cuban: Your Broker is Lying To You

In this explosive episode of The Business of Benefits, host Chelsea Ryckis and Fiduciary Benefits Consultant Talia Hansen sit down with entrepreneur and billionaire Mark Cuban to discuss the massive disruption happening in the healthcare industry. Mark shares the origin story behind Cost Plus Drugs and Cost Plus Wellness, and why employers hold the ultimate power to fix the broken healthcare system.We cover how employers can stop overpaying for healthcare, the critical importance of aligned incentives, and why direct-to-employer programs are the future. Mark breaks down the hidden games played by traditional PBMs and carriers, and how taking an "outside-in" approach is the only way to truly advocate for patients. We also explore the value of having an internal "Healthcare CEO" to manage claims, and Mark shares his visionary idea for replacing health insurance premiums with a revolutionary healthcare banking model.What you’ll learn:• The "aha moment" that led Mark Cuban to start Cost Plus Drugs and expose the massive markups in the pharmaceutical industry.• Why the traditional RFP process is designed to protect incumbents and keep employers in the dark.• How to identify and eliminate misaligned incentives in your health plan to save money and improve care.• The power of direct contracting and why employers need an internal "Healthcare CEO" to audit claims and manage vendor relationships.• Mark Cuban’s vision for the future: eliminating traditional health insurance companies in favor of a healthcare banking and loan model.Finished with the content? Claim your CE credit here:https://ideas.ethosbenefits.com/continuing-educationSHRM:Ethos Benefits is recognized by SHRM to offer professional development credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities.HRCI:Ethos Benefits is approved to offer HRCI® recertification credits for this program. This program has been approved for 0.5 - 1 HR (General) recertification credit(s) toward aPHR®, PHR®, SPHR®, and GPHR® certification.