In this extensive interview, we embark on a journey with David Contorno, the visionary Founder and CEO of E Powered Benefits. Gain insights into his experiences, challenges, and aspirations as he reshapes the landscape of health insurance solutions. Delve into the inception and evolution of E Powered Benefits, the revolutionary approach to health plans, the ethical foundations shaping the company’s culture, and David’s personal reflections on success.
Inception and Evolution of E Powered Benefits
The journey of E Powered Benefits began with David Contorno’s realization, after nearly two decades as a traditional broker, that the compensation structure was a fundamental problem. Aligning incentives became a powerful catalyst for change. In 2014, David sold his traditional agency, and after three years as a partner, he founded E Powered Benefits in 2017. This marked the commitment to transparent compensation and innovative medical plans, aiming to deliver superior health solutions to employers of all sizes.
Revolutionizing Health Plans and Consumer Responses
E Powered Benefits specializes in crafting custom health plans that outperform traditional counterparts both in coverage and cost efficiency. David Contorno highlights the common misconceptions surrounding insurance providers, shedding light on the imperative need for a shift in mindset. He emphasizes the critical distinction between “healthcare” and “health insurance,” debunking prevalent myths and paving the way for more informed choices by employers and employees alike.
Ethical Foundations and Impact on Employees
The work culture at E Powered Benefits is deeply rooted in a commitment to the well-being of the lowest-paid employees. David underscores the significance of protecting employees from financial strain and advocates for employers to share the savings achieved through E Powered Benefits’ innovative solutions. The ethos of the company revolves around ensuring that health plans not only deliver cost savings but also protect employees from the financial toll of healthcare, a commitment that sets E Powered Benefits apart.
Defining Success and Unique Aspects of E Powered Benefits
Success, for David Contorno, is measured by facilitating access to higher quality care at lower costs. E Powered Benefits stands out with its transparent fee structure, tying compensation directly to substantial cost reductions. David highlights the profound impact on patients, enabling them to afford life-changing medications without the burden of financial strain. The uniqueness of E Powered Benefits lies in its commitment to openly post fees, receive payment solely for medical plans, and tie fees directly to delivering lower costs for clients substantially.
Inspiration and Future Aspirations
“The Price We Pay” by Dr. Marty Makary serves as a guiding inspiration for David Contorno. Looking ahead, E Powered Benefits envisions a future where mentorship and leadership play a pivotal role, reflecting David’s commitment to transforming the industry. As the company continues to evolve, David aspires to take on more of a mentorship and leadership role, contributing to the broader positive transformation of the healthcare landscape.
Navigating Challenges and Rewards
David Contorno’s journey has been marked by challenges that provide a unique blend of hardships and rewards. Overcoming psychological barriers among employers and redefining perceptions about healthcare remains a continual struggle, yet the rewards lie in positively impacting lives. By challenging false impressions about healthcare and insurance, E Powered Benefits strives to address the psychological challenges that hinder the adoption of innovative health plans.
E Powered Benefits’ Offerings and Vision
E Powered Benefits extends consulting services, teaching the creation of revolutionary health plans. The vision for the future involves domestic expansion and fostering a collective movement challenging the conventional healthcare system through informed decision-making. The company offers a comprehensive approach, not only focusing on health insurance but also incorporating a teaching element validated by The Validation Institute.
Continuous Growth and Leadership Development
David’s growth as a business leader is fueled by teaching and mentoring. He shares insights through courses, conferences, and one-on-one mentoring, emphasizing the importance of applying the same metrics in healthcare consumption as in other sectors of the economy. David walks the walk, not just talks the talk, ensuring his personal practices align with the principles advocated by E Powered Benefits.
Improving Society, Healthcare, and Lives
David envisions a healthcare system that prioritizes health over profit, ensuring universal access to quality healthcare. He aims to alleviate the financial burdens associated with illness, fostering a society where individuals can focus solely on their well-being. E Powered Benefits strives to contribute to better clinical outcomes and quality of life for individuals, creating a standard where the fear of getting sick due to financial toll becomes a thing of the past.
Founder & CEO Responsibilities and Daily Gratifications
David’s daily routine involves speaking, selling, and teaching, with the greatest joy found in enlightening individuals about the transformative potential of E Powered Benefits. His responsibilities include steering the company towards its mission of reshaping healthcare dynamics. By actively participating in speaking engagements, writing publications, and being part of educational initiatives, David ensures that his role as the Founder & CEO remains instrumental in driving positive change.
Hiring Traits and Insights into Emerging Leaders
Mission alignment stands as the paramount criterion for hiring at E Powered Benefits, emphasizing shared values over qualifications. David acknowledges the challenges of the unconventional path he has chosen and encourages emerging leaders to prioritize purpose over conventional success metrics. By selecting individuals whose “why” aligns with the company’s mission, E Powered Benefits creates a team dedicated to transformative healthcare solutions.
Impact of Technology on Healthcare Insurance
Despite technology’s influence, David observes limited significant changes in healthcare insurance, with transformative shifts remaining confined to a smaller scale. The industry, often resistant to change, requires a collective effort to embrace technological advancements that could revolutionize the way healthcare is delivered and managed.
Greatest Professional Risk and Future Outlook
The greatest professional risk undertaken by David was the decision to cease traditional plan sales, tying compensation directly to cost reduction. Looking ahead, E Powered Benefits aims to continue positively impacting clinical outcomes and financial burdens for both employers and employees over the next five years. By actively engaging in reshaping the industry, David envisions a future where the principles of transparency, alignment, and innovation become integral to the broader healthcare landscape.
