RSS

Tag Archives: fair

How to Fix America’s Broke and Broken Healthcare System (Guest Blog by Kent Anthony)

The following post comes to us from Kent Anthony, president of Anthony Insurance, who writes this article based upon his 40 years of experience in the insurance industry.


broken glassI am a small business owner and employer. My expertise is in the Property/Casualty Insurance field, but, I am also licensed in Life and Health Insurance. Not a week goes by that I don’t get a call from someone that asks for a good Health Insurance plan that is affordable. Sounds simple, right? What if that elusive question has no answer? What do I tell people who trust me and need my help? Who has the answers? Government? Private Industry?

I read a recent Pew Research study that indicated 60% of Americans said that the government has a responsibility to ensure that every resident of the United States has health care. That means to me that the majority of Americans feel it is a “right” to have the coverage. It also means, I think, that they feel that private industry is ripping people off by not giving them what they want – free, unlimited coverage.

Reality check, people: Our founding fathers set up a system of checks and balances that requires compromise in order to get laws passed. What is “broke” is that there seems to be no such thing as any type of compromise today. If it is a Democratic plan, the Republicans hate it and vice versa. To complicate things further, factions within each party make compromise impossible as they all have to have it their own way. Obamacare is a perfect example. Mitt Romney, a republican who ran for President, essentially set up the same program as Governor of the State of Massachusetts. If Mitt had been elected, I am firmly convinced that the Democrats would have been against his health care plan on political “principal” alone. National organizations, such as AARP, the AMA, Drug Companies and all of the affiliated Hospital organizations, unions of all types, you name it… force the political process to grind to a halt when they exercise their influences. They all want it their own way.

Second reality check: This stuff isn’t free. I am amazed by how many people honestly think a magic wand can be waived and that we can just pass the bills off to the “rich people.” Maybe the rich people are tired of the “jam it to the rich,” class warfare or socialistic approach to their wallets. They have tremendous political influence. Are they ready to allow themselves to pay more?

Last reality check: Obamacare was designed to fail. Whether you think it is a good or bad program, there simply isn’t any funding to pay for it. It was designed to get something in place and worry about who and how it would be paid for later. Private industry was promised reimbursement by the federal government for their losses for the first 3 years if they participated, knowing that the worst health risks would be signing up right away. The last statistic I read is that they have only been reimbursed 12.3% of what they are owed! No wonder they are bailing out of the program.

What are “fair” answers?

Compromise has to be obtained for a lasting solution. Everyone has to participate; no opt outs. All Americans have to be enrolled and pay something. Insurance, whether it is car, home, business is about spread of risk. The healthy young, the poor, the rich…everyone has to pitch in to pay. The Heritage Foundation calls it “individual responsibility.” By having people pay something we may be able to end the cycle of entitlement. We can’t have people thinking everything is “free.” It isn’t. Actuarial tables exist that show what people should pay. Subsidize disadvantaged groups if necessary, but make them pay something.

Allow the health system the legal ability to negotiate costs of drugs, hospitalization, etc. We have cost control right now in Pennsylvania for auto, medical billings and workers compensation payments. Prior to those controls, the billings were totally out of control. This has to be in place or any system will spiral out of control. I have read that doing this will lower costs 30-60%. We have to make premiums affordable and save taxpayers on Medicare programs.

Finally, I would love the healthcare industry to be mostly privatized. We have seen how government gets too tied up in politics, crippling the system. I have to point to the inadequacies, bureaucracy and cost overruns of Medicare to make a simple point: Is Government really able to run anything the way the American people need it done? Allow free and open competition, with cost controls, and you will see a system that innovates and provides incentives to be better, rather than bloated bureaucracies that are too subject to politics to provide the services that the American people want and deserve.

What has been your personal experience with health care? Do you have an opinion on how we can improve things? Share your ideas by leaving a comment!

Kent AnthonyAbout the Author: Kent Anthony is president of Anthony Insurance, an independent insurance agency headquartered in Lewisberry, Pennsylvania. Kent has more than 40 years of experience working in the insurance industry, specializing in both personal and business insurance. Learn more about Anthony Insurance by visiting them at www.anthonyinsuranceinc.com.

 

 

 

 
1 Comment

Posted by on July 24, 2017 in Guest Blogger, Life

 

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

A Price For Passion: Being smart and fair when pricing your services

price tag pricelessAs a business owner and entrepreneur, one of the hardest challenges is figuring out a consistent pricing system for your services. Even with almost two years now under my belt, this is one area of my own business which can still be overwhelming and stressful at times – mainly because it also carries so much weight. How you price your products or services has a direct impact on the money you make or the clients you turn away. There are many reasons to want to undercut competitors and to offer the cheapest bargain around, but then there is the challenge of putting a price on passion. As entrepreneurs, we are much like artists and inventors.  It’s hard to keep an unbiased perspective on something we quite often view as priceless.

A quote by Henry David Thoreau that I truly love is, “The Price of anything is the amount of life you exchange for it.” Though I appreciate the underlying message of valuing our time, this mindset would make it impossible to ever set a price for my writing and creativity that was fair to both me and my clients. But luckily, just as much as I am an artist with the pen, I am also a businesswoman. This balance has allowed me to build a smart and strategic method for pricing my services without undervaluing my time or talent. Here are just a few of the guidelines that I’ve come to rely upon when placing a price tag on my passion:

Determine your hourly rate

The first hourly rate I set for myself when I was still freelancing my services in college is a mere fraction of what I now charge. However, it was a price that was fair for both me and my clients at that time. It was a nice increase over the minimum wage I was making at my other side job and to my clients, although they were working with a college undergrad, the price was a steal for the quality of work they received. After graduation, I was able to increase this price because of the formal degrees I had earned. I was sure to communicate this with existing clients and positioned it as a “value added” to my work and professionalism. Because it still remained well under the industry’s going rate, I received no negative kick-back from this increase. With the start of every New Year, new contract or new client, I have the ability to adjust my pricing. For clients who remain with me over the months and years, I offer them the loyalty benefit of “grandfathering” them into their starting prices so long as the scope of work remains the same and it’s not a significant opportunity cost.

Your years of experience and education/degrees will have an impact on how you price your services. I’ve found that remaining even just $5 under the hourly rate of the “industry norm” gives you a sizable advantage. While I don’t dismiss that this small difference in hourly rate can certainly add up over a large project, a small discount still earns you far more money than not being selected to complete the project at all. The best way to get a feel for the pricing of your competition is to talk with clients and people within your network who have worked with other similar contractors – they can also give you their honest opinion of what price range they are most likely to hire within.

Bundle your services

It’s standard – and smart – to have a set hourly rate because this is a common question clients potentially seeking your services will want answered. While I do have an hourly rate, I rarely charge by the hour on my proposals. Most often, I use this hourly rate to estimate the maximum cost for a project, but aim to lower this significantly for a client by offering service bundling. With bundling, I discount my rate in exchange for a client who chooses to hire me for more than one service. For example, I may offer a proposal with several communications strategies including writing web site copy, newsletter content and updating their social media profiles. When contracted separately, these services would be higher than if a client should choose to do them all together. The benefit to the client is of course the cost savings and the benefit to me is the security in work. Often clients will just want to know your hourly rate before you discuss much else, but I am sure to include that my hourly rate is discounted when combining multiple projects. This also helps me to create a more cohesive and effective communications strategy than just one project alone. The service bundling is an incentive to do more for the best price possible.

Reward efficiency

When providing my clients with a proposal for my services, I emphasize that the price I quote them for is the guaranteed maximum that will not increase so long as the scope or size of the project remains as we discussed. This is important because all too often we’re hit with unexpected price increases from every angle in the form of electric bills, cable and internet and the list goes on. It’s nice to offer clients something that’s a bit more stable which allows them to better budget. Also, once I provide my clients with the best possible price (bundling services, maximum price guaranteed, etc) it’s now to my advantage to work efficiently. If I estimate a project taking me 8 hours, I certainly don’t want to procrastinate and stretch this project into 14 hours. That’s a waste of my own time and earning potential! Instead, the way I price my services encourages efficient work which means my clients often receive their project days if not weeks before our agreed upon deadline. When pricing your own services, I suggest structuring this in such a way that you reward your efficiency while offering your clients stability. This is a great way to earn respect and trust while earning the most money for your time.

What are your thoughts on pricing your services? Where do you most struggle or what are some ways to make this less of an overwhelming task? Share your comments or questions and let’s get this important discussion going!

 

Tags: , , , , , , , , , , , , , , , , , , , , , ,

 
%d bloggers like this: