Improving access to premium health care solutions for everyone
John Palumbo is the CEO of HealthRight. With offices in Philadelphia, Tampa, and San Francisco, HealthRight offers a membership program intended to improve patients’ access to health care, as well as provide significant savings on services such as imaging, on-demand doctor visits, lab tests, prescriptions, wellness programs, and more. John has held leadership positions in the health care field since 1986. Before joining HealthRight, he was a founding member of Healthworks Alliance, executive vice president and COO of AllScripts, president of I-trax, and senior vice president at AmerisourceBergen Corporation. He is also a senior fellow at the Jefferson School of Population Health and, in 2010, became a senior advisor of Bryant Park Capital, an investment banking firm based in New York and Philadelphia.
John Palumbo spoke with Reid Blynn, executive managing director of Newmark Grubb Knight Frank, for this interview.
REID BLYNN: You’d mentioned “unfinished business” when we were in the green room. What was that unfinished business?
JOHN PALUMBO: The genesis of HealthRight, and where we see 3.0 going, came from the work that was done by two of my partners at I-Trax. As part of our I-Trax offerings, we began to see some unbelievable clinical and financial outcomes. At the underpinnings, here’s what we found: the companies who created the best culture of health and well-being for their employee base outperformed every index stock market that we know of. We started studying this back around 2000, and they have outperformed and sustained that performance over the last 16 years. In there, Dr. Ray Fabius—who is our chief medical advisor—Dr. Ray has been studying this and crafting what’s now the most scientifically based baselining and benchmarking tool that allows us to identify what are the needs of this population across all five characteristics of that population. You have a well group. At some point all of us will become at risk for something—that’s the second group. You have a group that has an episodic or an acute need. You have a group that’s already in chronic care. So, that at-risk group for becoming chronic care or episodic—those are three big cohorts—and then you have a catastrophic. Well between the chronic, catastrophic, and the episodic, you have only about 12% to 15% of the population, but it drives about 85% of the cost. The trick is can you make an investment in your health care rather than managing it as an expense? For us the unfinished business is really taking some of the capabilities that we have around engaging folks, get them into access programs—to get them to physicians, to get them compliant, to get them managing their chronic care diseases—we really think that we can’t just enable the promise of population health, but ultimately fulfill it. That becomes a critical driver for us in the go forward direction. It all came from unfinished business that we’d started back at I-Trax and it’s still been the underlying foundation of our vision to where we want to take HealthRight in the future.
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ABOUT NEWMARK GRUBB KNIGHT FRANK
Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.
Reid Blynn, Executive Managing Director at Newmark Grubb Knight Frank (NGKF), has been a leader in Philadelphia’s commercial real estate brokerage community for nearly 30 years. Reid has completed over 1000 transactions representing over eight million square feet.
Today Reid devotes his full attention to his corporate real estate and tenant representation services practice. He has represented many Philadelphia-based corporations for corporate headquarters requirements. By concentrating his practice in representing tenant and corporate clients, Reid is able to avoid potential conflicts with the region’s property owners, thus ensuring his clients receive the full benefit of his advocacy.
Reid has close ties to the venture capital community and has represented many growing venture backed companies in the health care, IT and life sciences sectors. Long term relationships have enabled him to work outside of Philadelphia as his clients grow outside of the region. Presently, multi-market corporate work is the fastest growing sector of Reid’s practice.
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