Shockingly, this translates to an average loss of nearly $304,000 per Caregiver over the lifetime of their caregiving duties. For the employers, caregiving leads to $38.2 billion dollars in lost productivity and $13 billion dollars in the associated healthcare costs due to the enormous stress and illness often associated with caregiving.
This is a public health and welfare concern that reaches far beyond the health insurance conversation. Good, hard-working Americans can be completely caught off guard due to caregiving, leading them into financial and time distress. This in turn leads them into emotional distress, which leads to a higher incidence of medical issues and loss of productivity. A vicious cycle.
As our population ages, an increasing number of employees (23% in 2015 and rising according to a study published by the Statista) are finding themselves assuming the role of Caregiver. By and large, most of these Caregivers are unpaid. This creates creating a situation that not only impacts their families, but also their roles as company employees.
All the planning and foresight intelligence cannot adequately prepare a family for such a scenario. The impact is far reaching, not just in terms of the care recipients illness, but also on the family itself – family roles can suddenly change or intensify, personal care and social interactions must be considered and life structure can change drastically. From a financial perspective, for both the care recipient and the Caregiver, there can be a significant loss of ability to work and loss of opportunities due to the situational constraints.
With the stresses of today’s fast-paced world and work environments, convenience is often a major factor for consumers when making everyday decisions on where and how to spend their hard-earned dollars and time. Healthcare is no exception. Not only do consumers want quality healthcare, but they want (and need) to have it so that it fits into their daily and often busy schedules. Enter the concept of ‘telehealth’ or ‘healthcare via the internet’.
A recent study revealed that of the polled healthcare consumers who had a primary care physician, or ‘PCP’, over 60 percent showed a strong interest in seeing their doctor via a video platform. In addition to this strong consumer interest in telehealth, the study also revealed some other interesting facts:
Health consumers are becoming increasingly interested in finding ways to more conveniently access their healthcare options. They are also seemingly more open to taking advantage of telehealth services for other things like chronic health issues and following up with their doctors after initial visits. The healthcare providers and services groups might want to put developing a solid reliable telehealth platform in place on their ‘to do lists’ for the upcoming year.
Convenience. It’s what today’s healthcare consumers want.
There are two types of leaders in healthcare today. There are those who believe the dramatic changes in healthcare will not occur during their tenure, and hence continue to focus on the traditional “business as usual” fee-for-service (FFS) model. The other, proactive, type of leader recognizes that change is not just on the horizon, but is happening now. They are actively addressing the future for their organizations and the individuals and populations they serve. These leaders recognize that a key to evolving with the new healthcare economy is to understand clearly the forces shaping change and consequential transformational healthcare trends a ecting the industry. These proactive leaders recognize that in light of the major changes, they must take positive steps to form an alliance with the healthcare consumer-customer. Care will transform to be delivered in a manner suited for today’s consumer needs, and consumers will behave in a more involved and engaged manner to share in the responsibility for their own healthfulness.
READ THE ARTICLE
What does Transformation feel like?
After the Heroic Success call, I was asked an intriguing question: What does Transformation feel like? Hmmm…
I loved that question because it has many different feelings. Sometimes it’s as subtle as a slow transition, a coming around, to a new way of thinking. Other times it can be like a clap of thunder, a burst of lighting, with a “nirvana” aHa moment that stops you and makes you want to grab other people and share the light.
But sometimes transformation doesn’t feel good. That’s why many people shy from stretching and reaching. They want to stay in their comfort zone. Because sometimes transformation feels like a slap in the face. For example, when evidence is put forward that shakes a long held belief you have that you’ve based many life decisions. You think, “I ALWAYS
thought this way, and now I cannot deny I was wrong.”
Usually if embraced and realized its about our human growth and often times our spiritual growth, transformation whether it is that beautiful light coming down from the sky to anoint you with your new aHa or that splash of cold water in your face that shocks you into transformation, it causes us incredible growth. Sometimes growth is tough, it hurts, but in the end the wisdom it brings gives us a deeper understanding of ourselves and the world we are a part.
"...it can be like a clap of thunder, a burst of lighting, with a “nirvana” aHa moment that stops you and makes you want to grab other people and share the light."
Women, Leadership, and Neuroscience
I choose the quote “Speak up even when your voice shakes” because it seemed applicable on many levels. First, this is my first “official” newsletter – yes, there have been many blogs and posts and articles, but this is me pulling it all together. Secondly, the speaking gigs are extremely diverse from radio interviews to YoUnique Intensives to open air venues in NYC. And third, I’ve finally gotten to “enjoy” allergy season in the NE and my voice seems to be shaky a lot – and low – and gone another day.
Around the beginning of the year, Yao Huang called and said, “I’m going to do something really, really awesome for and about women!” She shared her vision of women as leaders and giving that vision a voice called the “Women Leadership Forum”. Yao, like many of the Wonder Women I get to hang out with, makes things happen, and she hit this one out of the park with sponsorships including the Wall Street Journal and The Happiness Association developed by The Hatchery.
Agreeing to head the “Women, Leadership, Health” panel, I began to research leadership. Fortunately, the Harvard Business Review came out with a primer in the September issue – how apropos! There was a diverse set of articles and I began thinking about how all roads to leadership lead to the Brain. Because there is the “leader” and the other people supporting the leader, there’s actually 2 Brains to consider: Yours and the Other People’s collective brains.
There are 2 main components of Leadership:
• Skill Component – Complex set of Skills that are usually a combination of Innate individual skills and technically trained skills
• Perception Component – this is more complicated because it is modulated by YOU and by OTHERS and is highly influenced by the brain, expectations, perceptions, and filters (this is what the focus was of the keynote speech)
So, I pulled out my personal toolbox from “The Manual of Your Brain” (I really should get this published, what do you think?) and thought about what tools applied to Leadership. Stay tuned because I understand they made a video and live-streaming of the event.
Share your thoughts on what Brain Tools you suggest to improve Leadership capabilities… especially for Women.
Escape Fire: The Fight to Rescue American Healthcare
Health Tech is one the hottest growing sectors right now and we’re in desperate need of new solutions for the American healthcare system. It is broken and in need of our best and brightest minds, and innovations. Are the solutions in high tech or high touch?
As part of Philly Tech Week, deliver me wellness (www.delivermewellness.com), and WHYY will be hosting an award winning documentary: “Escape Fire: The Fight to Rescue the American Healthcare System.” The film will be screened at WHYY, 150 N. Sixth St., Philadelphia, on April 25 at 6:30 p.m. There will be a panel discussion, followed by audience participation after the movie.
The panel will be moderated by Dr. Summer Knight, MD and MBA. Known as “The Innovation Doctor,” Knight is a lifelong innovation catalyst and currently serves as the National Medical Executive focused on innovation at Cigna.
Representing the medical, corporate and military sectors, the panelists include:
+ Lucinda Duncalfe, CEO of Real Food Works
+ Joseph E. Ellis, Sr., CLU, Senior Vice President of
CBIZ Benefits & Insurance Services
+ Margaret Sheehan, L.Ac. of Chester County
Herbs and Acupuncture
+ Anne Slattery, Wellness Administrator of Fox
To make successful inroads we need to understand the issues. To help participants better understand these issues, the panelists will reflect on how they are working within their specific sectors on the various aspects of health care identified in the documentary. They will share their perspectives about creating “escape fires” to spark change in Philadelphia’s health and wellness communities.
Interpersonal Acceptance of Acknowledgment in the Innovation World
Today, I was listening in as a company was announcing its top sales and account team member award recipients. To acknowledge their accomplishments, they are being rewarded with a bit of pampering, pomp and circumstance.
Hearing the name of one of the people I work with announced, I sent a simple note of congratulations over email to which he sent a note back. “Thanks Summer—I’m guessing they lowered their standards!!!”
I couldn’t let that go. None of us should ever let that go.
Many people – maybe even you – do not pause to acknowledge when a job has been done well. Have you every heard, “Great job!” and hear the response, “Oh, it was nothing.” Have you ever responded that way? If you have, you are not only disserving yourself, but also disserving the person who noticed. Please never speak negatively of yourself.
Here’s what I ask you to consider whenever you receive a compliment: You are a beautiful human being. Other people notice this about you. Let them and continue to show us your light which serves as a beacon for all of us to up level ourselves. Enjoy the reward of acknowledgment. Take a moment and congratulate yourself – pause or throw a party. You are admired and loved by your colleagues, friends, and family. That’s a tribute to you – honor that.
With love and admiration,
Dr. Summer Knight
StartUp Village Office Hours with Entrepreneurs at SXSW
Last week I had the opportunity to represent Cigna at StartUp Village at SXSW. During our three days, Entrepreneurs discussed their needs and how large corporations could help them to succeed. There were no outrageous requests, as a matter-of-fact, they were fairly simple. They asked for mentoring, answers to questions about regulations and the health care industry, how to raise capital with corporate partners, and how to grow their business through customer acquisition: Counsel, Customers, Cash! That about sums it up.
We wanted you to experience the office hours, so we ask some of the Entrepreneurs to share after a session who they were and their company, what they needed from large corporations and why. Watch the exciting video interviews with Entrepreneurs at the SXSW StartUp Village.
A bit about SXSW Interactive:
More than just the hottest place in the country for music and film, SXSW is where forward-thinking corporations take part in a trade show to meet up with creative thinkers, test ideas, and come up with new ways to do business.
Note: All entrepreneurs were aware these videos would be posted on YouTube and share publically. They were told to only share non-proprietary information that could be shared globally and at Cigna.
Dr. Summer Knight featured in Time’s NYSE Magazine Winter Edition
Dr. Summer Knight featured in Time’s NYSE Magazine Winter Edition on pages 3, 30, and 31 for her innovations in match making between large corporations and startups.
Big Companies: Pay It Forward
As an entrepreneur and a medical executive with a focus on innovation for a Fortune 200 health service company, I’ve been on both sides of the employment aisle. I’ve come to understand the importance of “pay it forward” now more than ever before.
We stand at a crossroads today — with all eyes on the U.S. economy — and choices about how to propel ourselves into a prosperous future. It’s clear that big companies can and must help small companies succeed, as most of the jobs growth in our country is driven by startups. According to data from the Ewing Marion Kauffman Foundation, young companies under five years old accounted for nearly all of the net job growth in our country between 1980 and 2005.
How are established publicly traded businesses partnering with amazing startups? Dr. Summer Knight describes how she educated and converted a large F100 company to both support entrepreneurs as well as tap into their ideas to develop mutually beneficial relationships.
Dr. Summer Knight spearheaded the partnership between StartUp America, an organization supporting over 11,000 entrepreneurial companies nationwide and F100 health care giant Cigna. Here is an entrepreneur’s response:
Back in July during one of Tech Cocktail’s legendary mixers in Washington DC, my good friend Scott Case, the founding CTO at Priceline.com and the current CEO of Startup America was speaking. As normal, at the end of his great speech which I remember involved gambling, women and priceline.com, he had a little Q&A.
I have been a Startup America supporter and Champion since the beginning and am always on listservs, chat rooms, and even here preaching the gospel about Startup America. Well that didn’t sit too well with one woman from Pennsylvania. We were on the Philly Startup ListServ and I was writing someone about Startup America. Now before Startup PA even opened it’s doors she was all over me about how Startup America gave her no benefit what so ever. Then, she kept on bringing up healthcare like we were talking about Startupacare or Obamacare.
I relayed this conversation during the Q&A with Case and brought the room to great laughter since I did a great impression of the whiney woman on the Philly list serv. But as a Type II diabetic and an entrepreneur since 2003 I was actually curious about the health insurance. Case admitted that while building out regions was Startup America’s focus for the immediate future, there were talks going on about health insurance.
Entrepreneurs, freelancers, and the self employed account for a huge uninsured segment. Truth be told I was looking forward to next year when Obamacare takes over since I couldn’t afford healthcare on my own and 90% of everyone (even Cigna at the time) was either too much or refused me altogether because of the diabetes
Well low and behold just moments ago I received an email from Donna Harris at the Startup America Partnership announcing an exciting partnership with Cigna for mentorship, education and of course health insurance.
So I quickly glanced over the mentorship and education part, great stuff by the way, and I clickity clicked through to the health insurance part. I filled out the form and within nano seconds I was talking with Shelly from Cigna on the phone. She knew I was signing up via Startup America and BOOM! It’s done** (disclaimer part: of course health insurance is underwritten but I was informed that even with the Type II diabetes the rate she quoted was good). So alas if all goes well Shelly tells me I can go to the doctor for a mere $25 starting next month vs the $85 I have been paying!
In a statement this morning Case said:
“We know how important mentoring, education, and health insurance benefits are to startups, and we’re excited to bring Cigna on board as a new partner to help our members,” said Scott Case, CEO of the Startup America Partnership. “Cigna believes, as we do, that entrepreneurship is a core American value and critical to the country’s long-term economic success.”
The real deal here is that health care, education and insurance is one of the biggest things that hold entrepreneurs back. Healthy entrepreneurs make healthy startups and healthy startups mean more jobs. Really it’s that simple.
Cigna to Provide Mentoring, Education and Health Benefits to Startup America Members
BLOOMFIELD, Conn. – October 25, 2012 – Cigna (NYSE:CI) today is sending a message to America’s entrepreneurs: We want to work together to help you succeed and drive U.S. economic growth.
In a strong show of support for startup companies, Cigna is joining forces with the Startup America Partnership to provide mentoring opportunities, health and wellness education, and access to affordable health and dental plans for Startup America’s 10,400 member companies. Cigna is the first health service company to work with Startup America’s members.
“We know how important mentoring, education, and health insurance benefits are to startups and we’re excited to bring Cigna on board as a new partner to help our members,” said Scott Case, CEO of the Startup America Partnership. “Cigna believes, as we do, that entrepreneurship is a core American value and critical to the country’s long-term economic success.”
Often, health coverage is too expensive for early stage companies to secure for their employees, which hinders startups in their hiring and growth efforts. This, in turn, poses a challenge to the U.S. economy, as new job growth over the past 30 years has come largely from these emerging companies.
“Cigna wants to do its part to support the entrepreneurial spirit that fuels our economy,” said David Guilmette, president, Cigna Employer Segment. “As Cigna has grown and innovated over two centuries, we now have the opportunity to be at the forefront of helping young, promising companies do the same. The startup companies we help today are tomorrow’s Fortune 500 companies.”
Cigna’s relationship with Startup America is a long-term commitment in three important areas:
1. Education – Cigna will develop, at no charge, a health and wellness education program for the Startup America Learning Series. Topics will include health care reform, attracting talent and keeping employees healthy, creating affordable and alternative insurance solutions and funding options and choices.
2. Exposure and Mentorship – Cigna will look for ways to meet, mentor and do business with startup companies. Selected entrepreneurs will receive mentoring from Cigna’s leadership team. Entrepreneurs also will have an opportunity to present ideas to Cigna’s leadership for future potential strategic partnerships or investments.
3. Products and Services – Cigna will offer Startup America companies its existing dental and major medical offerings that include access to a national network of doctors, a 24/7 nurse information line and customer support, and 100 percent coverage for preventive care services.
Companies will be able to learn more or enroll in their benefits from a link on theStartup America Partnership website, which points to www.Cigna.com/Entrepreneurs.
Most important, Cigna is exploring the world of entrepreneurship to work in partnership, sharing innovative ideas and how startups can attract talented employees – and keep them healthy – to increase entrepreneurs’ chances of success. “Our goal is to become a true partner in health and wellness to startup companies,” Guilmette said, “and in so doing, to contribute to their success and the success of the U.S. economy.”
To learn more about Cigna’s commitment to Startup America, visithttp://www.cigna.com/sites/startup/.
Cigna Corporation (NYSE: CI) is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America and Cigna Life Insurance Company of New York. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life, and accident coverage. Cigna has sales capability in 30 countries and jurisdictions, with approximately 70 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visitwww.cigna.com.
About the Startup America Partnership
The Startup America Partnership is a growing national movement of thousands of founders, experts and resources providing startups access to the corporations, investors, and services they need to grow. Launched at the White House in early 2011, the Partnership brings together startups and local champions from around the country focused on creating successful networks for young, high-growth companies to thrive. AOL co-founder Steve Case chairs the Partnership and the Kauffman and Case Foundations are its founding partners. American Airlines, American Express OPEN, Dell Inc., Intuit Inc., Microsoft and NYSE Euronext are corporate sponsors.
7 Matrixes of Innovation
Many companies want to be known as Innovative… but few companies are. CEOs and business leaders ask questions like:
- What do we need to do at our company to make us
more Innovative and nimble to execute our plans?
- Are Innovators born or can innovative thinking be
- We want to be Innovative, but how should we sift
through all our ideas to determine which ones will
yield the best ROI?
In helping companies to transition to a more Innovative organization, oftentimes tweaking one part of the company is just not enough. There are multiple levers within a company that must be addressed.
At DSK Innovation, we focus our clients in order to find their Innovation Quotient. To do this, we review 7 Matrixes of a company. These include:
5. Process and Resources
6. Marketing/ PR
These 7 Matrixes of Innovation are unique, yet interrelated. Each one intersects with the others to create a whole vision and strategy for Innovation.
Be GREAT Innovate!
Women’s small business group will plunge into technology
By Deborah M. Todd / Pittsburgh Post-Gazette
When the Women’s Small Business Association asked for input on the Pittsburgh organization’s upcoming annual conference, members — in droves — pushed for technology education.
“A lot were talking about being confused about new smartphones and tablets, were wondering what is social marketing, what is SEO (search engine optimization) marketing,” said Susan Miller, founder of the association.
So when the Pittsburgh Entrepreneur Conference and Honoring Extraordinary Women Awards Luncheon kicks off with a “Hands on Technology” theme today, members are expected to be ready with their laptops, their smartphones and their best questions for the tech-savvy guest speakers.
Donna Baxter, CEO and founder of TheSoulPitt.com, a site highlighting the region’s African-American community, will present an “Online Marketing Toolkit” to help in building websites, learning search engine optimization, search engine and email marketing techniques, and using social media to strengthen relationships with customers.
Cassandra Brown, owner of Downtown mobile marketing firm Jireh Mobile, will cover how using smartphones, tablets and other devices can improve business.
Meanwhile, keynote speaker Summer Knight, a former executive with Bloomfield, Ct.,-based Cigna Healthcare and entrepreneur-in-residence at Washington, D.C.-based Springboard Enterprises, a venture catalyst organization for women-owned businesses, will discuss ways women can harness their talents to achieve success beyond their current aspirations.
The number of woman-owned businesses nationally has doubled between 1997 and 2011, generating close to $1.3 trillion last year, according to last year’s American Express OPEN State of Women-Owned Businesses report. Still, that growth translated to only 4 percent of total 2011 business revenues.
Growing pains are expected with any surge of new entrepreneurs, regardless of gender. But any chance of leveling the field between emerging women-owned businesses and their counterparts will require not only knowledge of long-standing business principles but mastery of constantly-evolving online marketing and new media techniques.
In addition to the hands-on instruction, Ms. Baxter hopes to teach business owners to avoid trying every technology application introduced to the market and to concentrate on finding what works for them. She also said she plans to discuss how to capitalize on the social networking traffic that women-owned businesses are often great at generating.
“Women are good with names, good in groups and good at engaging people and getting fans on board, but that’s when you’ve got to get them for the sale. Closing the deal seems to be the hardest part,” she said.
Ms. Knight said some women may not have been exposed to qualities that make for a strong salesperson during their upbringing, but that is no excuse not to learn as an adult. Learning how to use technology can transform a business from a local startup to an international presence with the right strategy, she said.
“Technology really springboards women, and any small business, into the national and international economy. When you increase the reach of any organization’s message, it encourages business owners to be more focused on that message so they can find the niche group they want to interact with from an economic perspective,” she said.
Whether online or at a brick and mortar business, she said women need to identify and conquer obstacles, but also need to believe wholeheartedly in their missions and their goals.
“So many people will try to gut your idea and try to talk you out of living a big dream, but to do it takes guts, tenacity, focus, and you have to make some big decisions,” she said.
Winners of the 2012 Best Business Woman of Pittsburgh Business Award, the Community Service Award of Pittsburgh and the 2012 WSBA Business Woman of the Year award will be announced during the luncheon.
The conference and luncheon will be held today at the Clarion Hotel in Green Tree. Call 412-208-0249 for registration information, or visit http://events.r20.constantcontact.com/register/event?oeidk=a07e5huhcze52555d7e&llr=lgoulfcab.
On-site registrations can be made the day of the event.
Deborah M. Todd: email@example.com or 412-263-1652. First Published April 4, 2012 12:00 am
Read the article on the Post-Gazette website.
3 Prongs of Innovation
For a large company, a Strategic Innovation Plan (SIP) must take a three prong approach via Internal Innovation, External Innovation, and Innovative CSR. Orchestrating these three prongs requires flexibility.
1. Internal Innovation: Adopting a nimble and collaborative approach to work with matrix partners in a coordinated format continuously asking questions and supporting teams and people to assure that what we are creating today will be beyond the grasp of the competition in 5 years.
2. External Innovation: By developing partnerships of expertise inside and outside of the organization with entrepreneurs, VCs and PEs, as well as external joint ventures.
3. Socially Responsible Innovation: Takes on many flavors from assuring we are building solutions that have a positive impact on the world to supporting other entrepreneurs as they innovate by working with them in different forums around the globes.
These are simple definitions. What would you suggest of these three prongs? How would expand the definitions?
Remember: “E”nnovation – Every person is responsible for Innovation.
There are many issues dominating Health Care today. Some of the headliners:
These headliners and so many more mean that we must make changes in health care. That we must think differently, to INNOVATE, and implement new strategies.
I believe that Innovation is every person’s job. It is not just a contribution, Innovation it is a responsibility each of us must have for our clients, for each other, and for ourselves. Thinking about this, I coined the term: “E”nnovation! To me, “E”nnovation means everyone is responsible for Innovation.
So who am I? I am a physician innovator and successful health care entrepreneur with significant expertise in the clinical, governmental, and private sector health care arenas. As the former Chief Medical Officer of the State of Florida, I influenced Medicaid policy, health care facility regulations and stakeholder interactions. Later, I founded a Health IT company causing a marketplace shift that became the leading platform for long-term care integrity in several states and managed care markets.
Why Innovation? Innovation is considered a critical component of business productivity, competitive survival, and growth. Innovation affects:
In other words, it affects the very “health and wellness and productivity” of your company.
A few people wrote asking for the definition of Innovation. Here’s one definition referenced from West in 1990: “The intentional introduction and application within a role, group, or organization, of ideas, processes, products or procedures, new to the relevant unit of adoption, designed to significantly benefit the individual, the group, or wider society.” Well, that’s sort of stuffy.
Said simply – Innovation is something new: a product, service, process, business model, or combination thereof that can be commercialized because it solves the problem for the customer.
Anyone who has met me knows I always bring the conversation around to one essential point: Innovation. So share your thoughts on this question:
Q: If you look at the past 3 – 5 years, what Innovations are you most proud of?
• Healthcare Transformation Magazine, Co-author, A New Healthcare Alliance: Consumer Engagement in the New Healthcare (Page 133), 2016
• Huffington Post, Big Companies Pay it Forward, www.huffingtonpost.com/summer-knight/
• WIN – 35 Winning Strategies from Today’s Leading Entrepreneurs – Amazon #1 Best Selling Business Book, 2011
• Innovation Quotient, 2012
• Heroism – Its all in Your Head, 2011
• Horizontal Interoperability, 2010
• President Obama’s Health Care Agenda, 2008
• Get Smart about Health Care, America!
• Personal Electronic Health Record
• Just Because You Can – A Discussion of the Suleman Octuplets
• Entitlement versus Access to Care
• Governor’s Select Task Force on Healthcare Professional Liability Insurance, Staff Consultant and Editor of Chapter 6 – Improving Healthcare Quality, 2003
• 2010 Woman’s Advantage Calendar quote for July 4, 2010: “Abundance is your Birthright, Aspire and inspire.”
Copyright 2017 Dr. Summer Knight All Rights Reserved