Claims Denied: A Hospitalogy Podcast

Blake sits down with Dr. Ramon Lizardo, ER doc turned three-time operator turned investor, and former CEO of Tele911. This one goes places Blake didn't plan for. Ramon shares his impressive journey: Getting into medical school on a single borrowed application he found in his backpack a month later. He left a $300K+ clinical job for $40K base and a $25K bonus, with debt. Then he built a company that turned Baltimore, Fort Worth, and San Francisco into cities where calling 911 puts a physician on your screen in 37 seconds. When the Key Bridge collapsed, the city called him at 3 a.m. and asked him to go live early. Blake pushed him on the physician hierarchy, on why nobody teaches doctors how money works, and on the digital health profitability problem. He also told Blake, on the record and before anyone else, where he's going next. Ramon even suggested a working title for the episode: "Health Tech Physician-founder Can't Control His Children" (His five-year-old and eight-year-old were negotiating a treaty in the next room the whole time.) This is the best kind of episode. Genuine, honest, and one not to miss! --- Navvis partners with health systems and health plans to deliver real performance improvement across value-based care and fee-for-service models. ⁠⁠⁠⁠https://navvishealthcare.com/vbc⁠⁠⁠⁠ --- For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠⁠⁠⁠⁠https://hospitalogy.com/⁠⁠⁠⁠⁠⁠⁠ Like our podcast? Check our previous episodes of Claims Denied here: ⁠⁠⁠⁠⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠⁠⁠⁠⁠ Be sure to leave us a review, and share our podcast with colleagues. --- Follow Ramon Lizardo on LinkedIn: https://www.linkedin.com/in/ramonlizardomd Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠⁠⁠⁠⁠⁠⁠⁠

We're doing something special with this latest episode of Claims Denied. Blake packed up and drove out to Plano, TX on a 100 degree August morning to record this one live on site, and the location is half the story: Matic's team works out of a suite inside Catalyst Health Group's headquarters. That's not a real estate footnote. That's the business model. Blake sits down with Calvin Carter, CEO and co-founder of Matic (https://maticinside.ai/), and Dr. Chris Crow, CEO and co-founder of Catalyst Health Group (https://www.catalysthealthgroup.net/). Calvin spent 15 years at Bottle Rocket building consumer apps for Chick-fil-A, Southwest, and half the news networks in America before an algorithmic trading side project put him next to Dr. Alex Shepherd, an engineer with a PhD in adversarial training for hallucinations who decided to go to medical school because "finance is a zero-sum game." The group gets into why Dr. Crow thinks every lab-built AI product is just the EMR story repeating, why he called direct primary care a cottage industry born of burnout rather than a model worth scaling, and what happens to a physician's panel when you stop making them the bottleneck. Dr. Crow also went on record with "Natty or bust" for the Texas Longhorns, and Blake is ready to hold him to it! --- For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠⁠⁠⁠⁠https://hospitalogy.com/⁠⁠⁠⁠⁠⁠⁠ Like our podcast? Check our previous episodes of Claims Denied here: ⁠⁠⁠⁠⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠⁠⁠⁠⁠ Be sure to leave us a review, and share our podcast with colleagues. --- Follow Calvin Carter on LinkedIn: https://www.linkedin.com/in/calvincarter/ Follow Dr. Chris Crow on LinkedIn: https://www.linkedin.com/in/drcrow/ Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠

Blake sits down with Ahmed Marmoush, CEO and co-founder of Handl Health, fresh off their Series A funding, and this one covers the full arc of where employer-sponsored insurance is heading. Ahmed's path is unlike any guest we've seen on Claims Denied: From a clinical pharmacist in New Zealand's single-payer system, to a consultant alongside the country's former Director General of Health, to an $800 bill for a routine physical in LA that turned into a company. (They offered him 50% off if he paid within a few days. He compared it to haggling in an Egyptian street market. He's not wrong.) They get into why cost shifting is dead, how variable copay plans really work, what's inside Handl's value index, and why Ahmed is betting on being the enablement layer between brokers and carriers instead of building yet another health plan. If you touch benefits strategy, brokerage, or health plan ops, this one's worth the commute. --- Navvis partners with health systems and health plans to deliver real performance improvement across value-based care and fee-for-service models. ⁠⁠⁠https://navvishealthcare.com/vbc⁠⁠⁠ --- For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠⁠⁠⁠https://hospitalogy.com/⁠⁠⁠⁠⁠⁠ Like our podcast? Check our previous episodes of Claims Denied here: ⁠⁠⁠⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠⁠⁠⁠ Be sure to leave us a review, and share our podcast with colleagues. --- Follow Ahmed on LinkedIn: https://www.linkedin.com/in/ahmed-marmoush-25169961/ Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠⁠⁠⁠⁠⁠⁠

Blake sits down with Nick Stefanizzi, CEO of Northwell Direct (https://northwelldirect.northwell.edu/) — the man running the most ambitious direct-to-employer play in the country. Since going live in 2022, his team has built a platform serving 70+ employers and unions, 300K members, and $2.5B in medical spend, with 97% retention. Then they landed 32BJ: 20% validated savings, $46M in year one, live as of April. Blake and Nick get into all of it — why Northwell runs Direct as a standalone company (Nick literally negotiates rates against his own parent system), what they rented instead of built, how the 32BJ deal came together in 10 weeks, and what happens to managed care when health systems stop asking permission. If you're a health system exec, benefits leader, or union fund trustee, this one's required listening. --- Navvis partners with health systems and health plans to deliver real performance improvement across value-based care and fee-for-service models. ⁠⁠https://navvishealthcare.com/vbc⁠⁠ --- For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠⁠⁠https://hospitalogy.com/⁠⁠⁠⁠⁠ Like our podcast? Check our previous episodes of Claims Denied here: ⁠⁠⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠⁠⁠ Be sure to leave us a review, and share our podcast with colleagues. --- Follow Nick on LinkedIn: https://www.linkedin.com/in/nickstefanizzi/ Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠⁠⁠⁠⁠⁠

This episode hits the affordability crisis head-on, as Blake sits down with Ali Diab, CEO and co-founder of Collective Health (https://collectivehealth.com/). Ali started the company after his own hospital claim got denied, and has spent the decade since building what he calls the “Stripe” of healthcare benefits — for employers today, and potentially insurers and health systems tomorrow. In this episode, Ali makes the case that health insurance itself is the real inflationary catalyst in American healthcare.  Ali doesn't do the polite version. He calls the MLR a cost-plus contract, compares network "discounts" to markdowns off the Neiman Marcus price, and told me about the time he was charged $340 in coinsurance for a $125 knee brace on his own company's plan.  We dig into why self-insurance and direct contracting are eating the fully-insured market alive, why small employers are legally boxed out of self-funding, and why he thinks healthcare pricing needs an SEC. Also: World Cup takes. Ali's a winger-turned-number-nine and I broke two leg bones playing this sport, so we earned the tangent. Follow Ali Diab on LinkedIn: https://www.linkedin.com/in/alidiab/ Follows Collective Health on LinkedIn: https://www.linkedin.com/company/collectivehealth/home/ --- Navvis partners with health systems and health plans to deliver real performance improvement across value-based care and fee-for-service models. ⁠https://navvishealthcare.com/vbc⁠ --- For expert analysis on healthcare M&A, strategy, finance, and markets, join 68K+ readers of Blake Madden’s Hospitalogy newsletter. Subscribe here: ⁠⁠⁠⁠https://hospitalogy.com/⁠⁠⁠⁠ Like our podcast? Check our previous episodes of Claims Denied here: ⁠⁠⁠⁠https://hospitalogy.com/podcast/⁠⁠⁠⁠ Be sure to leave us a review, and share our podcast with colleagues. Follow Blake Madden on LinkedIn: ⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/blakecmadden/⁠⁠⁠⁠⁠⁠