Billion Dollar Idea
I have argued that medical practice in America needs to be reformed. The dominant medical system is too expensive and drugs are too toxic. Instead I suggested a three tiered system. First, health coaches to teach people how to stay healthy through lifestyle. Second, natural medicine to assist the body's own healing mechanisms. And third, conventional medicine for emergencies when there is no time for the body to heal itself or the medical problem has gone too far to heal. While proposing ideas is fine, what matters is to make them happen. Here is a business opportunity for someone who wants to change how medicine is practiced in America.
Most large companies self-insure. A health insurance company handles the medical bills, but the money to pay them comes from the company up to a certain amount and beyond that amount the health insurance company pays. Companies do this because it's cheaper. It's similar to buying a policy with a high deductable.
Most of the cost to the company comes from a small number of employees who have expensive chronic medical problems. Visits to the emergency room and hospitalizations are especially expensive. If a company can reduce the costs from these few employees it would make a significant difference to their bills.
What I propose is a business that would assign employees with high medical bills to health coaches. There are many opportunities for reducing costs. First, many people aren't compliant with prescribed medications. Health coaches can reduce medical emergencies simply by checking that employees take their medications regularly. Second, health coach can suggest alternatives to expensive but ineffective medical treatments. Our fee for service medical model encourages aggressive medical treatments that are often not helpful. Third, health coaches can encourage changes to diet and exercise to resolve medical problems or reduce their severity. Many chronic medical problems are caused by poor lifestyle and can be helped by lifestyle changes. The personal relationship is important. Many people know what to do, they just need a nudge to change.
The health coach will be paid by splitting the reduction of medical bills with the company. A coach would spend an hour a week with each client. The medical savings from forty people should be considerable if these are high cost employees.