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During the last nine years, we have seen the fight over health care reform, the enactment of the Affordable Care Act of 2010 (ACA), the subsequent rollout of the ACA, and the most recent attempts to repeal and replace the ACA. The only constant during that time has been the importance of preventative care and the agreement on both sides of the political aisle that we continue to invest in this space. The American Healthcare Act of 5.4.2017 left preventative care unchanged and increased incentives to an employee’s tax-free contributions to their Health Savings Accounts to $6,550 for individuals and $13,100 for family, representing a sizable increase over the ACA values. The only way we will ultimately succeed in the reduction of healthcare costs is if obesity and other lifestyle-related diseases decline. The American population has increasingly become more obese since 1960, and this trend continues to move in the wrong direction.
It is my belief that our industry, in combination with employers, providers, brokers and insurance carriers can offer new products and viable solutions to help turn our nation’s obesity epidemic around. We live in a country that predominately offers employer-based insurance. Health care reform offers employers options to incentivize their employees to improve their health. Employers are demanding outcome-based wellness solutions that offer certified and measurable results from brokers and insurance providers to establish meaningful wellness offerings. In turn, employers are willing to offer their employees significant incentives to improve lifestyle and personal health. Our industry is the natural place to offer these services; however, to do so, we need to fundamentally change our product offerings and coexist with our membership-based business.
GENAVIX believes in this opportunity to the extent that we have invested millions of dollars to develop an industry solution. Over the last several years, we have developed and perfected a turnkey preventative care practice for the fitness industry. We call our offering HealthyCARE®, and we are well on our way to building a national network of providers (using our existing brick and mortar facilities) that employers, brokers and health insurance providers can contract with and leverage. It is our belief that the future of our industry, as it relates to integrating with health care or receiving insurance reimbursements, is in our ability to properly staff a wellness practice and deploy a robust technology platform for early detection and remediation of poor health risk factors. Once risk factors are identified, we focus well beyond just fitness and address other factors that impact health, such as nutrition, stress management and behavior modification. The GENAVIX HealthyCARE practice management solution in combination with our technology platform offer those forward-thinking operators the ability to re-tool and enter the emerging space called preventative lifestyle care (PLC).
We believe that preventative care, not wellness, is the future of our industry since it is the only way we will penetrate beyond the 18 percent of our population we serve today.
Today, GENAVIX offers each facility in the network the ability to contract with insurance companies and deliver our interventions and services through insurance reimbursement. As a national network of providers, we offer solutions for employers, providers, health insurance companies and brokers. We are aligning with health care by offering lifestyle education and interventions for members and non-members of our facilities. By doing so, we’re creating a new revenue stream while delivering real value to the communities we all serve.
Mike Benton is CEO of GENAVIX Inc. GENAVIX offers HealthyCARE®, a turnkey corporate wellness and preventative care practice for the fitness industry. GENAVIX is a growing network of fitness operators and owners that wish to leverage their own brick and mortar facilities, grow market share and expand their outreach to a larger population through corporate wellness and medical referrals. By joining the network and establishing their own HealthyCARE practice, each facility is staffed and operated to deliver lifestyle and outcome-based services that are reimbursable through regional and national insurance carriers. By offering HealthyCARE assessments, programs and services in conjunction with the GENAVIX HIPAA-complaint technology platform, the complexity of billing and HIPAA-compliant practice management is removed from the facility. A new profit center quickly emerges that grows personal training and increases revenues and margins through certified health coaching and practitioner services. Each practice offers the operator/owner a turnkey corporate wellness offering with many benefits from the larger network. In short, GENAVIX offers our industry a solution to successfully align our membership-based business with community based health care, which expands our membership base and our impact as a corporate wellness and preventative care provider. For more details, visit www.genavix.com or [email protected]