Outside talent, Pt. 2: Matt McCord's quest for 'radical transparency'

Matt McCord, MD, has had a long career as an anesthesiologist and administrator. He was the business manager of his former clinic and has also chaired anesthesiology departments in more than one hospital.

“I’ve been on all sides of the surgical delivery space,” he says. 

McCord founded Health Value Solutions in 2020, seeking to differentiate his new company from other brokerages. “I call us a health benefits management company,” he says. “Some brokers represent the carrier; they’re sellers’ agents, but not really buyers’ agents. We want to be experts in health benefits design and a true buyers’ agent for employers to purchase and use benefits in a smarter way.” 

His background in medicine, combined with the business side of running a clinic, has provided him with the tools and expertise to connect with business owners and providers alike. “I can speak provider all day and understand exactly what they’re up against,” he notes. 

As an advisor, McCord is looking for physicians who are willing to takeon more risk and form partnerships to enable strategies such as direct purchasing arrangements. “We want to find those providers who want to take ownership,” he says, citing a move toward the “payvider” model, where health systems adopt risk-based payment models. 

McCord seeks a business that is “radically transparent,” noting that many brokers have contracts and arrangements with carriers that incentivize them not to move their clients to better deals. 

One issue McCord is particularly focused on is opioid abuse. Many in the building trades and auto industry in his home state of Michigan have suffered from a range of work-related injuries, and opioid addiction has added to the problem. McCord has fought for opioid-free care delivery options, but has found that there are often challenges when it comes to changing industry practices. 

“Employees are suffering terribly; 30% of the workforce is on opioids,” he says. “I’ve been talking and working with the United Auto Workers (UAW) and building unions for seven years; they want to pay more for opioid-free care.” The problem, he says, is finding other stakeholders who are willing to make the leap into new types of pain management. 

Despite the mixed results in that area, McCord says there are a lot of opportunities for partnerships that can improve the delivery of health benefits. “The best opportunities for partnerships are with employers that are trying to provide a better benefit plan for their employees,” he says. “With the recession and the Great Resignation, it’s a great time for different solutions with the industry.”