Disparities in healthcare, as one of the major issues in the healthcare system of the United States, often go unnoticed, leading to poor accessibility of care facilities across various cultures. Ethnic communities in the States are often deprived of quality care, sparking inequity in care delivery. Identifying this need to eliminate healthcare disparities, VERDA Healthcare embarked on its entrepreneurial journey. The CEO Views recently had the privilege to interact with Frank Vo, the CEO of VERDA Healthcare, where he took us through the journey of the organization in delivering inclusive healthcare services. Here is a glimpse of the interview-
What inspired you to develop the idea of your business? What was your mission at the outset?
VERDA Healthcare’s creation was inspired by a deep understanding of the healthcare disparities faced by underserved ethnic communities. The founders and I personally saw firsthand how cultural differences often lead to mistrust and underutilization of healthcare services. This realization sparked the mission to create a more inclusive healthcare experience that prioritizes cultural competence and sensitivity.
At the outset, the mission was clear: to bridge the gap between healthcare providers and ethnic communities by offering tailored services that respect and address their unique cultural needs. VERDA aimed to empower these communities through education, access, and personalized care plans that acknowledge their specific health concerns and cultural practices.
By focusing on cultural competence, we sought to build trust and improve health outcomes, ensuring that all individuals, regardless of their background, receive the quality care they deserve. The goal has always been to create an equitable healthcare environment where everyone feels valued and understood.
Could you perhaps elaborate on your educational and professional background and how your knowledge and experience help in serving clients?
I bring a wealth of experience to VERDA Healthcare, having held key leadership roles as CEO, CFO, and COO across various Health Maintenance Organizations (HMOs) in Southern California. My expertise includes the co-launching of three Medicare health plans—Honored Citizens Choice Health Plan, Easy Choice Health Plan, and Astiva Health—demonstrating my strong background in navigating the complexities of healthcare systems and regulations.
My extensive experience in overseeing health plan operations equips me with a comprehensive understanding of the industry, from managing chronic special needs programs to implementing effective operational strategies. Additionally, I have served as an executive sponsor and program manager for several healthcare-managed outsourcing and software development organizations, such as Vitech Inc., Ika Systems, Xerox, Optum, and Cognizant/TriZetto. This experience has honed my skills in integrating technology, including medical economic and process improvement in healthcare delivery, enhancing efficiency and client satisfaction.
I hold a Bachelor’s Degree in Mathematics and Econometrics with a specialization in Business Administration and Computing from UCLA. This strong educational foundation, combined with my practical experience, allows me to analyze complex healthcare data and develop strategies that directly address the needs of underserved communities.
By leveraging my knowledge and leadership experience, I am committed to ensuring that VERDA Healthcare provides culturally competent services that empower clients and foster trust in the healthcare system. My strategic vision and operational expertise are crucial in driving the mission of improving healthcare access and outcomes for ethnic communities.
Could you give a brief overview of the company and its primary focus in the industry?
VERDA Healthcare, in partnership with its physician organization partners, is dedicated to a patient-focused approach that enhances the healthcare experience for our members. The company’s primary focus is to provide creative and accessible solutions, particularly for senior members, making healthcare more available and engaging.
The organization is introducing a community center model that invites members to participate in various initiatives and programs. This includes light exercise classes, access to valuable resources and counseling, and opportunities for social interaction. By fostering a sense of community and support, VERDA aims to improve not only the physical health of our members but also their overall well-being and quality of life.
Through these initiatives, VERDA Healthcare is committed to bridging the gap between healthcare services and the communities we serve, ensuring that every member feels valued, supported, and empowered to take charge of their health. The holistic approach reflects the mission to improve health outcomes and promote equity in healthcare access.
The journey to entrepreneurship might not have been easy for you. What are the biggest challenges you have faced?
The journey to entrepreneurship with VERDA Healthcare has indeed presented numerous challenges. Here are some of the biggest hurdles the company has faced:
- Funding and Capital: Securing the necessary funding to meet Tangible Net Equity requirements for state licensing has been a significant challenge. Establishing financial stability is crucial for the startup’s success.
- Provider Network Development: Building a robust provider network that meets the adequacy requirements set by CMS has required extensive outreach and negotiation. Ensuring that the firm has a diverse range of providers is vital for delivering quality care to the members.
- Talent Acquisition: Recruiting bilingual talent has been essential for effectively serving culturally diverse communities. Finding individuals who not only possess the necessary skills but also share the company’s mission can be difficult.
- System Infrastructure: Implementing the right technology and systems to support the operations has been a complex task. VERDA needs a solid infrastructure to manage member information, track healthcare outcomes, and streamline services.
- Brand Recognition: As a new entity, establishing brand recognition in a competitive market has been challenging. The company needs to effectively communicate its unique value proposition to attract members.
- Competitive Member Benefits: Developing member benefits that stand out from those offered by established competitors is crucial. VERDA strives to offer innovative and appealing programs that resonate with its target audience.
- Agent/Broker Incentives: Creating a competitive compensation structure for agents and brokers is necessary to ensure they are motivated to promote VERDA’s services.
- Provider Compensation: Designing a fair and attractive compensation model for providers is key to fostering strong partnerships and ensuring quality care delivery.
Navigating these challenges has required resilience, adaptability, and a clear vision for VERDA’s mission. Each obstacle has ultimately helped shape the firm’s approach and strengthen its commitment to improving healthcare access and outcomes for underserved communities.
Could you perhaps elaborate on the services that your company offers?
VERDA Healthcare’s Medicare Advantage Plan is uniquely tailored to meet the needs of individuals aged 65 and older in Asian-American, Hispanic-American, and Arab-American communities. Its approach combines innovative benefit packages with a diverse network of local community physicians who understand and represent these cultures, ensuring that members receive culturally competent care.
Unique Features and Benefits:
- Culturally Relevant Benefits: VERDA offers benefit packages that reflect the preferences and needs of its members. This includes services like chiropractic care and acupuncture, which are often valued in these communities for their holistic approaches to health.
- Personal Health Spa Services: Recognizing the importance of wellness and self-care, the company provides access to personal health spa services, promoting relaxation and overall well-being.
- Support for Essential Needs: VERDA understands that healthcare goes beyond medical services. The plan includes assistance with gas and utilities, helping helping members manage everyday expenses, and focusing on their health.
- Diverse Provider Network: The firm’s network includes local physicians who are culturally competent and can communicate effectively with VERDA’s members. This fosters trust and encourages regular utilization of healthcare services.
- Value-Added Supplemental Benefits: VERDA offers various supplemental benefits designed to enhance overall health, including wellness programs, preventive screenings, and educational resources tailored to the cultural contexts of the members.
- Community Engagement: VERDA Healthcare actively engages with local communities to ensure its services are aligned with their needs. We hold health fairs, informational sessions, and workshops to educate members about their benefits and encourage participation.
- Personalized Care Coordination: The care coordination services help members navigate the healthcare system, ensuring they receive the appropriate services and support tailored to their specific circumstances.
By focusing on these unique features and benefits, VERDA Healthcare aims to create a Medicare Advantage Plan that not only meets the healthcare needs of its members but also respects and celebrates their cultural identities. VERDA’s commitment to enhancing health outcomes and fostering a sense of community is at the heart of
what Varda does.
In light of the industry’s volatility, what approach and strategies do you undertake to serve your purpose?
VERDA Healthcare is deeply committed to fostering inclusivity and cultural sensitivity in its healthcare delivery model, particularly for diverse ethnic communities. Its strategies to achieve this include:
1. Diverse Staff Representation:
We prioritize hiring a diverse workforce that reflects the communities it serves. This representation ensures that VERDA’s staff can relate to and understand the unique cultural nuances of its members, promoting trust and effective communication.
2. Cultural Competence Training:
All employees undergo comprehensive cultural competence training. This equips the team with the knowledge and skills necessary to provide respectful and relevant care, enhancing their ability to address the specific needs and preferences of various ethnic groups.
3. Language Access Services:
To ensure effective communication, the company offers language access services, including bilingual staff and translation services. This helps to eliminate language barriers and ensures that all members can fully understand their healthcare options and services.
4. Community Engagement:
VERDA actively engages with local communities through outreach programs, health fairs, and educational workshops. This involvement allows it to build relationships, gather feedback, and adapt the services to better meet the needs of the populations it serves.
5. Partnerships:
The company collaborates with community organizations, local leaders, and healthcare advocates to enhance its outreach and support efforts. These partnerships help us leverage existing resources and connect with members in meaningful ways.
6. Culture of Respect and Inclusion:
Within the organization, VERDA fosters a culture that values diversity and inclusion. This includes creating policies and practices that promote equity, encouraging open dialogue, and celebrating cultural differences among staff and members alike.
7. Feedback Mechanisms:
The company implements feedback systems that allow members to share their experiences and suggestions. This input is crucial for continuously improving VERDA’s services and ensuring they are culturally appropriate and effective.
By employing these strategies, VERDA Healthcare aims to create an inclusive environment where all individuals feel valued and understood. Its commitment to cultural sensitivity not only enhances the healthcare experience for its members but also contributes to better health outcomes and stronger community relationships.
What leadership approach does the company rely on to drive organizational success in the competitive business environment?
VERDA Healthcare relies on a patient-focused leadership approach to drive organizational success in a competitive business environment. This approach emphasizes the importance of putting members at the center of everything it does, ensuring that their needs and preferences guide our initiatives and programs. Key elements of this leadership approach include:
1. Patient-Centered Care:
VERDA prioritizes understanding and addressing the unique needs of its members. This involves actively listening to their feedback and tailoring the services accordingly, ensuring a personalized healthcare experience.
2. Engagement Initiatives:
VERDA’s leadership promotes initiatives such as welcome and member engagement calls. These outreach efforts help build rapport and trust with members from the outset, enhancing their overall experience.
3. Integrated Care Management:
The company employs dedicated care management teams that coordinate services and support for its members. This collaborative approach ensures that individuals receive comprehensive care tailored to their specific health needs.
4. Telehealth Services:
Recognizing the importance of accessibility, VERDA integrated telehealth services into its offerings. This allows members to receive care from the comfort of their homes, breaking down barriers related to transportation and time constraints.
5. Health and Wellness Programs:
Its leadership is committed to promoting proactive health and wellness through various programs. These initiatives encourage healthy lifestyles, preventive care, and community involvement, contributing to better health outcomes.
6. Member Advocacy Services:
VERDA provides advocacy services to assist members in navigating the healthcare system. This support empowers individuals to make informed decisions about their care and ensure they receive the resources they need.
7. Quality and Satisfaction Surveys:
Regularly collecting feedback through quality and satisfaction surveys is a cornerstone of VERDA’s leadership approach. This data-driven strategy allows the company to assess its performance, identify areas for improvement, and adapt the services to meet evolving members’ needs.
By embracing this patient-focused leadership approach, VERDA Healthcare aims to create a responsive and adaptive organization that not only thrives in a competitive environment but also genuinely enhances the healthcare experience for its members. This commitment to excellence and responsiveness positions VERDA as a trusted partner in the health and well-being of the communities it serves.
In an environment of competition, what distinguishes Verda Healthcare from other brands in the market? What are your value propositions to win a competitive edge?
VERDA Healthcare stands out in a competitive marketplace primarily due to its deep commitment to cultural competence and inclusivity, particularly in serving diverse ethnic communities. While many healthcare providers focus on the clinical aspects of care, VERDA Healthcare goes a step further by tailoring its services to meet the cultural, social, and linguistic needs of the populations it serves, including Asian-American, Hispanic-American, and Arab-American communities.
Key Value Propositions That Provide a Competitive Edge:
- Culturally Competent Care: Its approach to healthcare is built on the understanding that each community has unique cultural needs, which is why it invests in providing culturally relevant services. This includes offering benefits like acupuncture, chiropractic care, and wellness programs that resonate with the traditions of the communities served. By integrating culturally sensitive services, VERDA fosters a stronger sense of trust and engagement with the members, improving care utilization and health outcomes.
- Diverse and Inclusive Workforce: VERDA Healthcare understands the power of representation. It hires staff members from a variety of backgrounds, ensuring that the workforce reflects the diversity of the communities served. This leads to more effective communication, greater empathy, and a deeper understanding of the members’ specific needs.
- Language Access Services: A core part of its competitive advantage is the language access services. We provide bilingual staff and translation services to ensure that all members, regardless of their language, can easily access healthcare information and fully understand their treatment options, benefits, and rights.
- Holistic and Community-Based Care: VERDA’s healthcare delivery model extends beyond traditional medical care by incorporating wellness programs, social support services, and community engagement initiatives. It provides access to health resources, exercise classes, counseling, and social interactions through the community center approach. This holistic view of health emphasizes mental, emotional, and social well-being as integral components of overall health, which is particularly appealing to culturally diverse populations.
- Proactive Member Engagement: The company prioritizes proactive communication and engagement, including welcome calls, member engagement calls, and care management teams, to ensure that our members are well-informed, supported, and actively involved in their healthcare journey. This personalized touch sets VERDA apart in an industry where many providers rely on reactive care models.
- Tailored Benefits for Seniors: VERDA recognizes the unique needs of its senior members and design our Medicare Advantage plans to include benefits such as chiropractic services, acupuncture, and even assistance with utilities, reflecting a deep understanding of the challenges seniors in diverse communities face. These tailored benefits not only address healthcare needs but also the social determinants of health that affect overall well-being.
- Quality and Satisfaction Focus: Regularly surveying the members for feedback on their satisfaction and quality of care allows VERDA to make data-driven improvements and maintain a strong focus on continuous service enhancement. This commitment to listening and adapting based on member feedback is a critical differentiator.
In what ways has the company adjusted to the dynamic market demands, changing preferences, technology breakthroughs, and other industry changes?
VERDA Healthcare’s ability to adapt to market changes, evolving member preferences, and technological breakthroughs has been a cornerstone of its success. By expanding its community-based care centers, partnering with local organizations, embracing a value-based care model, and investing in healthcare technology, it is not only improving access to care but also addressing the broader social determinants of health. These strategies ensure that VERDA remains agile, responsive, and aligned with the needs of the diverse communities it serves. This commitment to innovation, cultural sensitivity, and personalized care positions VERDA Healthcare for continued success in an increasingly complex and competitive healthcare landscape.
What pathbreaking marketing strategies are undertaken by Verda Healthcare to communicate with the target audiences?
VERDA Healthcare is fully committed to adapting and thriving in a dynamic and rapidly evolving healthcare market. It recognizes the need to stay responsive to changing market demands, shifting member preferences, technological advancements, and broader industry trends. Here’s VERDA has adjusted to these changes:
1. Expansion of Local Community Centers:
To better serve its members, VERDA Healthcare is actively developing and expanding local member community centers in both existing and new markets. These centers will serve as hubs for wellness activities, healthcare services, and social support. They will offer convenient spaces where members can access not only medical care but also engage in health education, fitness programs, social activities, and counseling. This model is designed to provide holistic support that extends beyond traditional healthcare, directly addressing the social determinants of health.
2. Collaborations with Senior and Faith-Based Organizations:
The company understands that healthcare is deeply intertwined with cultural values and community support systems. To better address the unique needs of diverse populations, VERDA Healthcare has formed partnerships with local senior centers and faith-based organizations. These collaborations help ensure that the programs and services are culturally relevant and sensitive to the specific traditions and preferences of its members, particularly those in underserved communities.
3. Geographic Expansion:
As part of its long-term growth strategy, VERDA Healthcare plans to expand into additional counties in Texas and other states. This expansion will allow it to serve a broader range of members, particularly seniors, in new regions. The expansion strategy emphasizes member engagement and creating localized healthcare offerings that meet the distinct needs of the populations in these areas. VERDA is also focused on developing creative benefit packages tailored to the unique preferences of the communities it enters while remaining agile in adjusting to market demands.
4. Value-Based Care Model:
At VERDA Healthcare, the team is shifting towards a value-based care model that focuses on outcomes rather than volume. This approach rewards healthcare providers for improving the quality of care they deliver rather than the number of services they provide. By incentivizing providers to focus on preventative care, patient satisfaction, and efficient management of chronic conditions, VERDA aims to improve health outcomes while controlling costs. This model aligns with current industry trends that prioritize improving health outcomes and reducing unnecessary healthcare spending.
5. Technology Innovation:
VERDA is investing heavily in healthcare technology to enhance the overall member experience and improve access to care. This includes expanding telehealth services, integrating digital health tools, and utilizing advanced data analytics to optimize care coordination. The firm understands that the future of healthcare is digital, and technology can play a critical role in improving both the efficiency and accessibility of care. For instance, by leveraging electronic health records (EHR) and telemedicine, VERDA can ensure that its members have seamless access to care, even in remote areas, and reduce barriers like transportation or mobility challenges.
Additionally, the company is exploring emerging technologies that help address social determinants of health—such as access to food, housing, transportation, and social support services. By connecting its members with community resources through digital platforms, VERDA is working to improve health outcomes in a more comprehensive way.
6. Personalized Member Engagement:
As part of its commitment to improving member engagement, VERDA is leveraging data and technology to provide more personalized healthcare experiences. This includes proactive outreach through member engagement calls, care management teams, and digital platforms that empower members to manage their health effectively. By tailoring its approach to the specific needs of individual members, the firm increases their engagement and satisfaction while also improving their overall health outcomes.
7. Adapting to Changing Preferences:
As market demands shift, especially with younger seniors becoming more tech-savvy and health-conscious, VERDA Healthcare is actively evolving its service offerings. This includes incorporating wellness programs, offering fitness classes, and expanding access to mental health resources to meet the growing demand for comprehensive, whole-person care. VERDA recognizes that today’s seniors expect more than just traditional healthcare; they seek convenience, technology-driven solutions, and a holistic approach to wellness.
8. Member-Focused Innovation:
Finally, VERDA is committed to continually innovating with the goal of improving the member experience. This includes enhancing mobile apps for easier access to health services, offering remote monitoring tools for chronic disease management, and integrating smart health devices into the care model. These technological innovations help members members track their health more easily and stay connected with their care teams, leading to better adherence to care plans and improved health outcomes.
Give an overview of the company’s corporate culture. Being an innovator yourself, how do you foster a culture of innovation?
As an innovator, I take specific steps to cultivate a culture of innovation within VERDA Healthcare:
- Encouraging Creative Thinking: I promote an environment where team members feel comfortable proposing new ideas, no matter how unconventional they may seem. Regular brainstorming sessions and innovation workshops are held to spark creativity and explore potential solutions to challenges.
- Providing Resources and Support: VERDA allocates resources—both time and funding—for teams to pursue innovative projects. This includes dedicated time for research and development, as well as access to tools and technologies that facilitate innovation.
- Recognizing and Celebrating Innovation: Celebrating successes and recognizing individuals or teams who contribute innovative ideas reinforces the importance of creativity within the organization. VERDA highlights these achievements in company meetings and communications to inspire others.
- Cross-functional Collaboration: I encourage collaboration across departments to bring together diverse skill sets and perspectives. This interdisciplinary approach often leads to innovative solutions that might not emerge in siloed environments.
- Embracing Feedback and Iteration: Innovation is a process, and I promote a culture where feedback is valued and used constructively. I, with VERDA implement pilot programs to test new ideas, gather feedback, and refine them before a full rollout, ensuring that our innovations are aligned with member needs.
- Staying Informed on Industry Trends: I encourage our team to stay abreast of industry trends, technological advancements, and best practices in healthcare innovation. Regular training sessions, attendance at conferences, and partnerships with tech innovators keep our team informed and inspired.
- Empowering Frontline Staff: Those who work directly with our members often have the best insights into what innovations will be most impactful. I empower frontline staff to share their ideas and involve them in the innovation process, ensuring that our solutions are grounded in real-world experiences.
By fostering a corporate culture that values inclusivity, collaboration, and innovation, VERDA Healthcare is well-positioned to meet the challenges of the healthcare industry while continuously improving the experience and outcomes for its members. This dynamic culture not only drives the company’s success but also ensures that it remains a leader in delivering culturally competent care to diverse communities.
What trends do you see in the industry in the next decade? What future plans do you have for your company?
In light of these trends, Medicare Advantage plans will need to focus on several key strategic areas to remain competitive and meet the needs of their members in the next decade:
Expansion of Benefits Packages
Plans will expand the scope of supplemental benefits to include more non-medical services that address SDOH and enhance quality of life, such as meal delivery, transportation, home modifications, and caregiver support. Additionally, integrating more comprehensive telemedicine and virtual health services will be essential.
Focus on Chronic Disease Management
Health plans will invest more in chronic care management programs, using technology to deliver more personalized, proactive care.
This includes better integration of AI, remote monitoring, and care coordination tools to manage conditions like diabetes, heart disease, and COPD more effectively.
Technological Investment and Data Utilization
Plans will continue to invest in health IT systems, predictive analytics, and AI to improve care coordination, member engagement, and operational efficiency. Health plans will leverage these technologies to better predict and prevent high-cost events and deliver more personalized healthcare experiences.
Improved Consumer Engagement
Health plans will work to improve member engagement and satisfaction by providing easier-to-understand plan options, clearer communication about benefits, and more direct channels for customer support. This could involve mobile apps, digital health tools, and AI-powered chatbots to help members navigate their care.
Value-Based Care Models
Health plans will increase their focus on value-based models, aiming to improve care quality while reducing costs. They will work closely with providers to create more aligned incentives that reward improved health outcomes rather than just service utilization.
Expansion of Dual Eligible and Special Needs Plans
Plans will continue to expand their offerings for dual-eligible and special needs populations, providing more tailored care models and addressing the unique needs of these vulnerable groups. This may include partnerships with Medicaid providers and additional care coordination programs to improve health outcomes.
Social Determinants of Health (SDOH) Programs
Plans will increase their focus on addressing the broader social needs of their members. Partnerships with community organizations, integration of services addressing food insecurity, housing instability, and social isolation, and direct support for non-medical needs will become standard offerings.
Regulatory Adaptation
Given the evolving regulatory environment and CMS initiatives, health plans will need to stay agile and responsive to changes in Medicare policy. This may involve the adaptation of plan offerings to meet new regulatory requirements or to take advantage of new CMS programs aimed at improving care delivery or reducing costs.
Conclusion
The Medicare Advantage industry is poised for continued growth and transformation as the population ages and the demand for more integrated, personalized, and value-driven care increases. Health plans that embrace technological innovation, expand their benefits, focus on chronic disease management, and address social determinants of health will be well-positioned for success. As the industry evolves, Medicare Advantage plans will increasingly need to prioritize a membercentric approach, providing not just health care but holistic support to improve the overall well-being of their beneficiaries.
