In 2005 a group of knowledgeable executives with entrepreneurial and leadership experience set out to bring about changes in health care in the US in the business initiative now called The Well[Med Companies. The founders are Brad Day CLU, ChFC, Craig DeForest, Jim Johnson, Michael Lanier, Bill McCormick, Jason Mitchell, M.D. , and Lee Smith, MAAA, FCIA .
The enduring aim of this group is to create a great health care company restoring The Heart for Healing in America which both embraces conventional medicine and acknowledges the potential and possibilities for a human-centered, evidence-based, wellness-driven comprehensive medicine.
The goals of Well[Med are operating profits and value creation through improving the quality and the availability of comprehensive health care and by reducing medical cost inflation, i.e. direct medical and drug costs by 30-45% tracking the consumer price index thereafter. Essential to achieving these goals is establishing a sustainable foundation and regenerating primary care medicine practice.
Our proprietary clinical model called A New Approach to Health Care provides the strategic basis for worksite clinics, community clinics and physician practices integrated within the current medical care delivery and payments structures. Well[Med is in parallel pursuing development of innovative health care plan designs and financing for small to medium sized business and in custom solutions for larger self-insured businesses, distressed companies, and for unions and others attempting to digest and manage retiree medical care obligations. These initiatives help important sectors of the economy and society by improving the effectiveness of their workforces and bounding health care spending. Well[Med also has outlined a strategy for creating a national data base for confidential health care and patient information known as the American Medical Information Repository Trust Company (“AMIRTC”).
In all our activities and initiatives, we keep in mind globalization and the other forces driving changes in the American economy and the World social fabric. Foremost in shaping our plans are changes in American consumer behavior resulting from rapid developments and specialization in retail marketing. These combined with more fundamental long term changes in consumer values and expectations have become important drivers of consumer behavior which will undoubtedly change the face of health care over the next decade.
A fundamental readiness for change, innovation and development enable Well[Med to exploit emergent opportunities for action and to take a disruptive approach to innovation reducing direct competition on core values, value propositions, and customer experience. With these differentiators, we have the opportunity at reasonable cost to establish on a solid business foundation and competitive barriers to enable our success.
The dual benefits of increased medical quality and reduced direct medical costs combined with improved productivity are keys to our value proposition. Our clinical innovations and business model are unique and path setting. The benefits we deliver are independent of the vigorous public and political debate about universal or single payor coverage and other government mandated financing arrangements. So, we think this is the right time to introduce and pursue this endeavor.