Get to know Mike Reid, Insights' new healthcare leader


We are excited to introduce Appriss Insights’ new
Sales Alliance Leader for Healthcare, Mike Reid! Mike has more than 30 years of experience in healthcare and joins Insights after working for leading organizations in the industry such as Pfizer and Humana. He took some time with the Appriss Insights Blog to discuss his career, the current trajectory of healthcare in the United States, and the role he sees for Insights in the industry. Mike is pictured above with his family (second from the left in the bottom row). On the bottom row, from left to right, is his wife, Therese, Mike, his daughter Rowan, and his daughter Halle. On the top row, from left to right, is his son, Nathaniel, his son-in-law, Jake (married to Rowan), and Ben (Halle's boyfriend). 

What is your background in healthcare and how did you come to Appriss Insights?

My career in healthcare started after I left the Marine Corps. The first company I worked for was Pfizer Pharmaceuticals, and this is going back a few years when Pfizer Pharmaceuticals was barely in the Fortune 500 and nowhere near one of the largest pharmaceutical companies. At the time, they were hiring quite a few people from the military for sales territory manager positions. After a great experience with Pfizer, I worked for a medical device startup company that developed a device with the potential to diagnose Alzheimer's disease, and I was with that company for just under two years and assisted in their largest capital raise up to that point.

After that, I had my first of two stints at Humana, working on the commercial sales side, and running the sales team for one of Humana's largest markets. We were selling medical health insurance, dental, vision and ancillary benefit plans to businesses who wanted those types of plans for their employees and their dependents. Having spent a significant amount of time up to that point on the provider side with doctors, providers, and hospital systems, moving to the insurance side opened my eyes and helped me better understand how healthcare is delivered. After that first run with Humana, I worked for a specialty pharmacy company called Onco 360, then moved back to Humana for a great opportunity working on the market development side.

Those two plus years I was back with Humana was at the beginning and through most of the pandemic. During this time, we drove some significant, unique, and innovative initiatives in commercial contracting to drive greater value and to have a more robust impact on cost of care for our members.

It was at this time that I first became aware of a great position on the team here at Appriss Insights. Having been in Louisville for quite some time, I obviously knew the company and thought the opportunity to join Insights was a very interesting one. I was drawn to the company because of its unique mission through VINE and the value of its diversified solutions. I was also excited by the fact that Insights had just joined the exceptional team at Equifax. It seemed like everything worked together just right for this opportunity, so I am very excited to be here. The culture of this company reminds me of when I first entered the industry and worked for Pfizer. Everything lined up perfectly and the opportunity felt just right, and this feels the exact same way.

What have you seen as significant landmarks in in the healthcare industry over the last 20 years?

When I look at my experience in healthcare and essentially being involved in almost every side of it over the last 25 years, I would say some of the biggest trends have been related to the impact of health insurance companies in managed care and the volume of patients that an average doctor needs to spend time with in order to cover their costs — to pay their staff, to pay for the office, to pay for everything they do. When I think about the early beginnings with Pfizer when I was calling on doctors in their offices as a sales rep, if I had a product that they were interested in or that had a new indication they wanted to learn more about, I would often have 20- 30 minutes to talk with them. Now, if you look at pharmaceutical companies, biotech, and specialty pharmacy companies, probably the better reps might get just a few minutes with a physician, maximum. The time that the average provider is able to spend with the patient has changed significantly, as well.

I think it has also been interesting to see how technology from a patient care standpoint has changed. When I first started out, a good doctor might have 5000 hard copy patient folders in their office stored in a wall of filing cabinets. Now, you've got electronic medical records and e-prescribing. Data and technology platforms driving healthcare have changed dramatically, and we're still just scratching the surface.

What are some of the most significant priorities for you as you begin your role with Insights?

It’s simple, for me. The Three P’s: People, Products, and Processes. During my first 30 days, I have been doing a deep dive with all the key people within Appriss Insights and have started to make some initial connections with key stakeholders outside of the company and some of our current partners. Over the next 30-60 days, I am doing deeper dives on the products we offer, along with the processes involved in delivering them. I'm also excited to work with all the experts and professionals with Equifax and explore how we can draw on their knowledge and relationships.

What ways do you hope to see Insights positively impact healthcare over the next several years?

We can definitely work to ensure that people who are accessing health care and the employers of those individuals providing that care have the most current data in terms of sanctions or exclusions with the potential providers or health systems. I think that's crucial. On the flip side — and this is one of those things that we're already evaluating — how do we get even better for the sake of providers and their patients to ensure that the most recent information in terms of sanctions and exclusions is available and referenced?

Additionally, a very common term that's being used now is "Social Determinants of Health,” which explores the many influences on a person’s health and well-being. Where does that person live? What does that person's food security, or insecurity look like? What does that person’s financial security look like? What does that person's behavioral health look like, and do they have the chance to be in a meaningful provider relationship to help them with their health problems and their mental health problems?

The “Holy Grail,” if you will, is how can managed care and other healthcare focused organizations pull meaningful data from those Social Determinants of Health and then provide it back to the health system so these “people at risk” can be connected with and have their needs met through earlier intervention? As an example with Medicaid, those members who are incarcerated should move to a different healthcare funding source upon incarceration and the state should have a process in place to know when to take those incarcerated members off the Medicaid roles. As such, it is crucial for state agencies to have the right data that allows them to be a good steward over those budgets so that they can stop the Medicaid premium payments at that point of incarceration. The flip side of that is when that individual is released. The state should have the data it needs to get that individual back on the Medicaid roles. A recently incarcerated member’s quality of life and potential for recidivism are significantly impacted by these factors. We are still in the early stages of driving value in these diverse areas, and that’s what excites me about the opportunity with Insights. I truly think Appriss Insights has leading edge data and is setting the stage to evaluate and implement new data sources to drive greater value in the healthcare sector.

What values are important to you?

At this point in my life, being very intentional with my concern and care for others is something I'm focusing on. I believe that as we build people up and help one another with the challenges that we all face, we're not only going to see positive results from a business standpoint, but as importantly we're going to see positive results from a personal standpoint. I literally just sent a text out to my family, which I do routinely. This one was pretty straightforward: I reminded them that we can experience more joy and happiness when we're focused on serving others first. That’s where my head and heart are right now.

What would be your ideal vacation destination?

That’s easy! My family and I love beaches. With all of our kids, from the day they were born, we were on the beach. They're in their 20’s now. So my favorite vacation involves family, friends, a beach, good food, and a few good books to just kind of unwind and not worry about anything other than spending time with my family and my friends.

Thanks to Mike Reid for joining us! You can connect with him on LinkedIn.

Mike Reid

Author

Mike Reid

Mike Reid is the Sales Alliance Leader for Healthcare with Appriss Insights. He has more than 30 years of experience in the industry and previously worked for Humana, Pfizer, and other healthcare organizations.

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