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Creating connections is essential to building a community. It’s even more important when the people you’re trying to connect with aren’t in the same location. Businesses and companies have always found geographic distance to be a challenge to building a really great community-oriented culture. At Empowered Ventures, the same challenge holds true, which is why we decided to start Empowered Owners, the podcast that takes you inside Empowered Ventures.
In each episode, CEO Chris Fredericks will have a discussion with one of our employees to discover and highlight their distinct personalities, perspectives, and skills while also keeping you in the loop with exclusive news, updates on company performance, and a glimpse into the future plans of Empowered Ventures. Not only is this an opportunity for Chris to learn more about our amazing employee-owners, but it’s also an opportunity for you to hear regularly from Chris and others from within Empowered Ventures.
00;00;00;00 - 00;00;29;03
Chris Fredericks
Hello everybody, and welcome to another episode of Empowered Owners, the community Building Podcast by and for the employee owners of Empowered Ventures. Join us as we take you inside the world of employee ownership, discovering the stories, insights, and sometimes surprising adventures in a family of businesses where everyone's an owner. Now let's dive in. Joining me on this episode of Empowered Owners is Kim Dinwiddie, vice president of Human resources at Empowered Ventures.
00;00;29;04 - 00;00;31;01
Chris Fredericks
Welcome back to Empowered Owners, Kim.
00;00;31;04 - 00;00;32;24
Kim Dinwiddie
Thank you. Excited to be back.
00;00;32;27 - 00;00;58;28
Chris Fredericks
Yeah. So this is your third appearance on the podcast. One of the previous two was a discussion about health care as well. And that happened earlier this year. A lot has been going on within Empowered Ventures when it comes to the topic of health care and our theme, health Care for us and something we've, you know, we care a lot about because it's such an important part of the employee experience and impacts on business and stuff.
00;00;58;28 - 00;01;07;23
Chris Fredericks
So I'll just start this off kind of broadly like what's been going on within Empowered Ventures when it comes to the topic of health care. In the past year or so.
00;01;07;25 - 00;01;32;23
Kim Dinwiddie
Yeah. Well, health care for us has definitely been rolling along. This year, I'm really asking for people to lean in the health care with us. I think what's important for folks to know is what's been happening kind of behind the scenes. What's at the EV level, what have we been doing? And it's been it's been a year just, you know, we went through a benefit broker RFP or request for proposal to really find a strategic partner.
00;01;32;25 - 00;02;02;14
Kim Dinwiddie
That was aligned with where we wanted to head. You know, it's not just all about cost savings. It's also we want to make sure all of our employee owners and their families have good care, quality care. Obviously, we want good quality with cost savings ideally, but finding that strategic partner and went through a very lengthy process, talking with a lot of different groups out there and ended up sticking with our same broker that we've had for a number of years because they know us well.
00;02;02;19 - 00;02;28;07
Kim Dinwiddie
They are. We've been a trusted partner and actually where they have been looking ahead at all the changes that are out there and just the benefit world, they were on top of it. And, you know, having that comfort, I'll say with them. But knowing that they're willing to step outside the box with us and to trust them and doing that, and, you know, for them to know who we are and again, to be aligned in our strategy was really exciting.
00;02;28;07 - 00;02;49;18
Kim Dinwiddie
So that was kind of step one. And then from there, though, it was more about, okay, now let's pick some other good partners with us. Is that our current, you know, situation or are we moving away from different carriers, different pharmacy benefit managers? What does that look like? So we interviewed, a number of folks and those groups as well.
00;02;49;21 - 00;03;07;03
Kim Dinwiddie
You know, narrowed that down to select the topics. But again, LHD, the benefit broker has been along our side the whole time. But in the meantime, a lot of education has been pushed out to through the healthcare for us. And so, you know just starting small chipping away you know the benefits is a big road. It's a lot for people to know.
00;03;07;03 - 00;03;25;03
Kim Dinwiddie
So just trying to get people to be as educated as they can be on the world of benefits, which is, you know, sometimes those of us who live it, we take it for granted, like, well, of course you should know that. So taking a step back, though, and being like, how can we provide them all the tools to make their best choices that they can?
00;03;25;05 - 00;03;45;19
Chris Fredericks
That's awesome. That's a lot. A lot has been happening with Empire Adventures when it comes to health care. So renewal season is kind of coming up. You know, typically for most companies, including us, the policy is on the calendar year. So every year there's kind of a new a new insurance policy for everybody to consider and benefit policies and stuff like that.
00;03;45;19 - 00;03;54;19
Chris Fredericks
So we're about to head into that. What are companies in general kind of experiencing currently when it comes to, you know, renewal process this year?
00;03;54;21 - 00;04;27;04
Kim Dinwiddie
Yeah. So it's been interesting. I've been, you know, really trying to keep up not only looking at, okay, what are all the surveys saying out there that some of the professional organizations are doing, but reaching out to my peer network just to see, okay, what are you all experiencing? And it's interesting because a lot of the information, the surveys, you know, all the articles out there are saying that 20, 26, most groups are going to experience the highest increase they have in 15 years, which is starting to me and, you know, double digit increases.
00;04;27;04 - 00;04;48;14
Kim Dinwiddie
A few of the peers that I, you know, just talk with or within the HR world, some of them got a 50% increase renewal notice and some are 30s, 20s. I mean, it's just it's interesting. But I think, you know, there's a lot of reasons why it's happening. I think it used to be people would just be like, well, that's just the insurance.
00;04;48;16 - 00;05;12;26
Kim Dinwiddie
You know, those carriers are just raising the rates. But when you take a step back now and look at things, utilization has gone up tremendously. And there's better treatments, but those better treatments cost more, which are better outcomes. So you want them you know prescription costs are rising. And also an interesting thing that's happened. Or people delayed care during the pandemic.
00;05;12;26 - 00;05;39;29
Kim Dinwiddie
So yes, the pandemic is still coming up, but they delayed care. And so now it's almost like that delayed effect of that that is is now hitting. So it's just it's very interesting all the different, you know, kind of fingers that are making all of this, these cost, you know, raised so dramatically. But there's also a lot of smaller private private like physicians that probably those of us growing up we knew, like, you know, there were a little physician offices.
00;05;39;29 - 00;06;00;22
Kim Dinwiddie
Now, those are part of big groups, you know, the major hospital groups. So it's just an interesting environment and it's really driving the costs up. But it's not just us. And I think that's important for everyone to understand. And a lot of employers are obviously trying to figure out how do we combat that, you know, how do we deal with these rising costs?
00;06;00;24 - 00;06;24;00
Kim Dinwiddie
Some of them are making plan design changes, which means they're raising deductibles. They're raising out-of-pocket, raising co-pays. So that really will affect their employees, you know, directly affect their out-of-pocket costs. But employers are at a point where they just aren't sure what else to do. And I say that because some employers just they don't know what else is out there.
00;06;24;00 - 00;06;42;00
Kim Dinwiddie
They just are. We have always talked about health care happening to us, and the insurance world just happening to us. If you don't, you know, get in that driver's seat. And that is just what's happening. You have to, you know, start thinking creatively and, and branch out, which is part of what we've been doing this past year.
00;06;42;00 - 00;06;42;07
Kim Dinwiddie
Oh.
00;06;42;07 - 00;07;02;06
Chris Fredericks
So yeah. So I, I love that. And, maybe we can dig in a little more into that, that theme, that concept of, you know, part of the issue with the health care cost and the system is that the companies and people, it's very easy to just kind of sit back and let it happen to you the way you just stated.
00;07;02;06 - 00;07;21;26
Chris Fredericks
And it's it's complex and it's sometimes hard to understand. And, you know, brokers sometimes end up in a role where they're just kind of helping the company, just telling the company kind of, here's your renewal, here's here's your new plan, and companies just kind of take it and don't know what else they even could do. And so for us, that's been a big part of this initiative.
00;07;21;28 - 00;07;47;05
Chris Fredericks
And in the last year especially, is just kind of starting to I don't want to say take charge, but, you know, to the best of our ability, lean in and find ways to impact our, our experience, our cost, our, you know, going forward and, and not just be that passive, kind of consumer, quote unquote with that, like, what are you.
00;07;47;07 - 00;08;04;29
Chris Fredericks
Yeah. And this being a bit of a preview without specific details necessarily, but what do you see happening going forward with us with this upcoming renewal tools that people might have access to that might be new? Just what do you what could you preview? That's kind of coming out of all this effort for our folks?
00;08;05;02 - 00;08;23;07
Kim Dinwiddie
Yeah. And I will say, I think part of it also is, you know, we talked about the driver's seat not just being a passenger, but also stepping out of your comfort zone, because when you think about doing things differently, I mean, you know, again, we're talking about folks health and their coverage and their care. That you don't want to get that right.
00;08;23;10 - 00;08;45;05
Kim Dinwiddie
Right. And so but but stepping out of the comfort zone to be like, are there other possibilities out there? Are there other options that maybe just aren't something that everyone's doing? But a small group is and it's working and it's impactful. And so I think it's you're surely asking around, talking to a lot of different folks and digging those out.
00;08;45;07 - 00;09;03;26
Kim Dinwiddie
And one thing, you know, we do have some things already in place. I think that's important to talk about too. Like we had one of our employee owners use the prescription comparison tool, and they were able to save $70 just on one prescription just by using a tool that is out there that we talked about during open enrollment.
00;09;03;26 - 00;09;22;23
Kim Dinwiddie
But, you know, if you don't use it all the time, you it's not top of mind. So that's part of the health care for us is making sure that things are top of mind and they automatically think about that. But so there are tools in place, but an exciting tool that we're going to be putting in place is something called optimize, which essentially is an advocate navigator.
00;09;22;26 - 00;09;47;22
Kim Dinwiddie
This is really trending for some groups are catching on to it. And essentially what it does is it's, it's a it's a group that, you know, we will have an independent like we'll call it an account rep. That's probably not the title, but that's what we're going to say. So you would have someone that you would reach out to and let's say, you know what, I just my physician asked for me to get an X-ray or an MRI somewhere.
00;09;47;24 - 00;10;06;07
Kim Dinwiddie
Where would be the best place for me to go. And essentially they will share with you. Okay, what's a network and what will be the prices for that? So what I would say about a pocket cost for you, as you know, the employee owner, but also the plan in general. But it could also be, you know, a pharmacy question.
00;10;06;12 - 00;10;22;14
Kim Dinwiddie
It could be a crime question. You know, I, I have this claim in there saying I oh, this that doesn't quite look right. So it's someone that you can reach out to and have this conversation and they'll have a plan, they'll know all the designs and, they'll be able to really navigate. I called navigators for a reason.
00;10;22;14 - 00;10;45;17
Kim Dinwiddie
They will navigate the system for you. And it's it's not just about cost savings. I think that's an important detail that people need to know. They do look at quality of care and that's what we really want to push folks to, is where is the highest quality of care that usually, believe it or not, that's actually tied to cost savings, which is kind of counterintuitive to what we usually think.
00;10;45;20 - 00;10;57;29
Chris Fredericks
What's an example of here? Yeah. What's an example of something someone might come across that they might that, that, that situation where the quality of care and the cost in some cases could be even better?
00;10;58;01 - 00;11;23;00
Kim Dinwiddie
Yeah. So sometimes it is a standalone imaging facility, for instance, that I have seen quite frequently rather than sometimes we're at the doctor's office and I'll be like, just go down, you know, down the hall. We've all heard it. But instead, and that is quite costly. Typically when that happens, if there are standalone imaging facilities that when you go there, they have very good imaging results, I'll say.
00;11;23;05 - 00;11;29;06
Kim Dinwiddie
So you know, sometimes we think quality of care is more physician aligned. But it can also be imaging modern technology.
00;11;29;06 - 00;11;29;18
Chris Fredericks
It's not.
00;11;29;18 - 00;11;41;12
Kim Dinwiddie
Around technology. Yeah. And much, much lower cost. The interesting thing too are the standalone facilities give you an upfront cost. So you know right away what that cost will be.
00;11;41;14 - 00;11;58;09
Chris Fredericks
So it sounds to me and that's to me, that's the example that comes to mind for me personally a lot. And even recently, I think I told I actually messaged you, came and said I sprained my ankle and I think I, I might need to get it, you know, an image done and, you know, how do I even do this cost comparison thing?
00;11;58;09 - 00;12;26;21
Chris Fredericks
Because we don't have this tool yet in place. And so you kind of coached me on how to do kind of follow a similar process, but without optimize, you know, in place. But if I'm imagining in the future I have this OP device, I have this person, an advocate who I can reach out to, and their job is to help me get great care, but also not not just take, you know, whatever the most expensive thing being suggested to me is.
00;12;26;28 - 00;12;49;15
Chris Fredericks
Yeah, because I wonder how much confidence, you know, because sometimes the doctor suggesting the care is looking out for you, but also they, they want you to go down the hall because it's good for their group financially if you just go down the hall. So having confidence that like, no, I actually I want to do this other thing is part of what may be an optimize advocate can help with as am I getting that correct?
00;12;49;15 - 00;13;02;26
Kim Dinwiddie
Yeah you are. And so a couple of different things on that. So the optimizer will just use your example. So for you it was like you know if it's bad enough do I go to the ER. Do I wait like so they would be able to kind of guide you through from.
00;13;02;26 - 00;13;08;05
Chris Fredericks
The very beginning. They can start to inform and support you in your, your decision making. Okay. Great.
00;13;08;07 - 00;13;29;05
Kim Dinwiddie
Because the interesting thing is to sometimes people in situations will think I'll just go to urgent care. Oftentimes what happens is the urgent care is like, we can't treat you here. We now need you to go to the ER. Well, there's two things that you've hit and you didn't really need to. So having someone to kind of walk you through would be like, you know, if you do this, they're probably going to send you.
00;13;29;05 - 00;13;39;18
Kim Dinwiddie
So let's just go ahead and go there. So someone to walk through that with you is would be, you know, very important. But right now I can't even think of the other part that I was going kind of.
00;13;39;19 - 00;13;48;09
Chris Fredericks
Yeah. And then I imagine maybe on the treatment on the back end of like once you've gotten to the right place, like, then what do you do when they're giving you advice? Yes.
00;13;48;11 - 00;14;10;16
Kim Dinwiddie
Yeah. And so I think that's one of the things most, most folks, I think it's changing a little bit, but most folks are kind of they hold themselves back from questioning what their physicians say. That's just not comfortable because every, you know, white coat, they're the expert. We're not there to to question them. But, you know, they don't know what tools and resources you have available.
00;14;10;16 - 00;14;31;05
Kim Dinwiddie
And it really out of pocket. Cost is very important to folks. And so just to say, you know what, I know you want this image done, but I need to reach out and figure out where's the most cost effective place for me to go. Whenever I've talked to folks, I've never ran across anyone that says, yeah, my doctor is really mad at me.
00;14;31;05 - 00;14;32;06
Kim Dinwiddie
For us.
00;14;32;09 - 00;14;32;22
Chris Fredericks
Well, that's.
00;14;32;22 - 00;14;59;13
Kim Dinwiddie
Good. I haven't I haven't ever ran across that. Usually they will pause because most people just do as they say and they never have a problem with it. Now I will backtrack a little bit and just say I have been with some orthopedic physician groups that are like, no, we need our images because I know exactly you know what type of picture, but that's very specific and doesn't really meet everyone's needs, but.
00;14;59;15 - 00;15;19;06
Chris Fredericks
Which optimize could still be that that consultant then to invalidate that if needed and just give you that confidence. So it sounds really exciting to have. And if I remember correctly too, from what I've learned, the optimize person would be the same person. It's not like calling into a general helpline, even now.
00;15;19;13 - 00;15;42;05
Kim Dinwiddie
Yeah. And they obviously they'll keep notes in their system. But yeah, you will be talking with the same person. So let's say you do have a chronic condition that maybe you need ongoing care, but maybe the care changes. Maybe you need lab work done and then you need, you know, to see maybe another specialist, your optimize rep will know your situation each time you reach out to them.
00;15;42;07 - 00;16;01;25
Kim Dinwiddie
So there are some unfortunate situation where they may talk to the optimize, you know, individual quite frequently, but it does help to know that, you know, they are, you know, local, not necessarily in Indiana, but they are local and they will know each of our cases and know if you ever correct this.
00;16;01;25 - 00;16;32;02
Chris Fredericks
Yeah, the EV folks and get to know us and support us. So this won't be rolling out until our 2026 renewal. Right? So I think January 1st is when this will most likely be available. So I guess this would maybe fall under the question then of like, what are we looking to our folks as going forward for how ways they can lean in and, you know, continue to help us and help themselves, you know, have great health outcomes and also help us manage costs.
00;16;32;02 - 00;16;32;21
Chris Fredericks
Well.
00;16;32;23 - 00;16;55;25
Kim Dinwiddie
Yeah. And I think right now, perfect time leading up into open enrollment is just kind of a time to pause, look back and be like, okay, what have my the health care use look like? I usually say, yeah, this year, but also last year to, you know, how many times have you and your family went to see a physician, a specialist, how many times have you had to get images done, lab work done?
00;16;55;25 - 00;17;22;29
Kim Dinwiddie
How many prescriptions are you filling? Are those going to, you know, continue on? Do you have new ones you think you're going to get? So really just sitting back and taking kind of a picture of, okay, here's what my insurance needs had look like this past year. And then you're in perfect position to decide on which plan is best for you, you know, in the renewal season, because a lot of times, I know the very first thing people look at is what's the premium?
00;17;23;01 - 00;17;43;22
Kim Dinwiddie
And that's what they look at. But if you have all that data with you, you're going to know, okay, if I went with this plan, here's what my out-of-pocket costs would look like. Rather, this plan and including premium in that. And last year during open enrollment, we did roll that out of kind of some things like, okay, here's how to think through it and here's how to step through what your cost would be.
00;17;43;25 - 00;18;13;11
Kim Dinwiddie
So some good tools to look at. But I think really knowing your history, looking back is the best way to look forward. And I think this is the perfect time to do that and use the tools that are available. You know, the price comparison tools, optimize once once you know that tools out there use what is available to you and never hesitate to ask questions and be curious whether that's of, you know, us at the EV level up code groups, you know, whether it's them or your physician.
00;18;13;13 - 00;18;30;27
Kim Dinwiddie
Be curious and ask questions. If they say you need a test, well, why is there a cheaper alternative? And, you know, just again, I haven't found physicians that get offended by that. Yeah. Now somebody is going to find one and be like, in general.
00;18;30;29 - 00;18;54;18
Chris Fredericks
Yeah, yeah. You have a right to ask questions. I think I absolutely have the right thing for folks to take away from, from this another tip that I've, you know, I think is worth mentioning. I'm curious if you have any other tips after I share this little one. Is, you know, if you haven't gotten your annual physical, maybe now's a good time of year to try to squeeze that in as well, because those are free, if I'm not mistaken.
00;18;54;18 - 00;18;55;03
Chris Fredericks
Is that right?
00;18;55;03 - 00;19;15;06
Kim Dinwiddie
Yeah, absolutely. Preventive care is one of the best things because oftentimes you can catch something before it heads down a path that you don't want it necessarily to go to. But and that is it's no cost. And that's you know, a great benefit. And that's for many different screenings, all preventative care, including, you know, even flu shots.
00;19;15;06 - 00;19;26;19
Kim Dinwiddie
And I mean, it's just there's a list. And if you don't know, I can ask the question and we can make sure that, you know, but preventative care is a big way to save yourself and the plan money.
00;19;26;22 - 00;19;52;13
Chris Fredericks
I've really enjoyed getting into a routine where every year I, I have it around the same time every year and get to know my doctor, because if you're not, if you're not a person who has a chronic issue that you're dealing with a lot and maybe you go years without a major illness or something, you I it's easy to lose track of who is my primary care physician and like, do they really know me essentially.
00;19;52;18 - 00;20;06;24
Chris Fredericks
And so just at least me seeing them once a year and establishing that routine, I have found it really helpful for me to so that if I do need something, you know, urgent, I can give him a call. He knows who I am. It makes it a lot easier.
00;20;06;26 - 00;20;24;22
Kim Dinwiddie
Yeah, well, even establishing a primary care physician, some folks don't have one. And oftentimes that happens, like, if you move and, you know, you're like, that's on the list of things to do. But if you don't have a primary care physician, I think that's a great thing to do is get one. And yeah, get your your annual checkups with them.
00;20;24;25 - 00;20;29;24
Chris Fredericks
Yeah. Good. Any other thoughts or tips you want to share? As we kind of wind down here?
00;20;29;27 - 00;20;48;13
Kim Dinwiddie
I think level of care was probably another thing to mention, you know, rather than, you know, just thinking through, okay. Is it an er situation, is it an urgent care. There's a lot of options out there. So just thinking about the level of care that you get. But again, optimize will be a resource that will be able to help with that.
00;20;48;15 - 00;21;06;18
Kim Dinwiddie
And I think just, you know, kind of wrapping up is important to know that again, we're all in this together. And everything is increasing, prices are increasing. But it's not just happening to us and it's happening to everyone and we're not alone. But I think the exciting thing is to know that we truly can make a difference.
00;21;06;18 - 00;21;26;16
Kim Dinwiddie
Like each person. Even if you think, oh, I saved $10 on this prescription, that adds up. Or, you know, we have a lot of folks on our group and so again, we're just thinking, how can you personally save out of pocket expenses, but you're also saving the planet money as well, which is great for all of us as employee owners.
00;21;26;18 - 00;21;42;20
Chris Fredericks
Yeah, it sounds like what you're saying is we're truly seeking a triple win outcome here where, you know, care is better cost for the individual or better and cost for the enterprise, or better too, which benefits us all as employee owners. That's really what we're shooting for here. Ultimately.
00;21;42;23 - 00;21;53;05
Kim Dinwiddie
Yes. Yeah. And don't think about health care one time of year during the season. Yeah. You know when you see health care for us information come out please. Look at it. You know, pay attention.
00;21;53;05 - 00;21;59;11
Chris Fredericks
To it and read it and try to understand it. And if they have any questions, I assume they can always reach out to you is absolutely yes.
00;21;59;11 - 00;22;00;20
Kim Dinwiddie
Yeah. That's what I'm here for.
00;22;00;27 - 00;22;03;23
Chris Fredericks
Okay. Great. Thank you so much for this update. Can this have been awesome.
00;22;03;23 - 00;22;18;12
Kim Dinwiddie
You're welcome. Thank you.