On a warm, bright October morning, team members from across the Goodroot companies and their families, along with strategic partners and local elected officials, gathered to plant 19 Adam’s Leaf crab apple trees near our headquarters in Canton, Connecticut. Members of the press also attended the event, which marked the founding of Goodroot and celebrated our pledge to save employers and consumers $30 billion in healthcare costs by 2025.
FOX 61 aired this story recapping the day’s events.
The Hartford Courant published a feature article in print and online highlighting the connection between Goodroot’s commitments to reshaping the healthcare industry and to supporting growth in the Hartford region.
“We’re fixing healthcare one system at a time,” Goodroot CEO Mike Waterbury told the Courant. “The beauty of Connecticut is that we were the insurance capital of the world, and still probably are. The talent is here, they just have to be put in a system where they can free and amplify that talent. Right now, they’re working in a system that has the wrong incentives.”
The Courant also spoke with RemedyOne CFO and Penstock President Jim Harper about how companies under the Goodroot umbrella are addressing specific inefficiencies within the healthcare system.
Penstock does payment integrity audits, which helps ensure that customers are paying the correct amount for medical procedures.
“If you’re a payer – a health plan – and you pay providers for service…. sometimes they’re wrong, and coding is really complicated. Sometimes they take advantage of the policy, in order to get paid more,” Harper said. “Because there is so much volume, it’s hard to catch. It’s hard to catch with A.I. We have our own A.I. tools, as well as really good people who audit those, and provide that recovery back to the plans, which, in turn, is intended to reduce premiums and reduce costs. Otherwise, you’re paying for something you shouldn’t be paying for.”
Harper added that Penstock will also change policies so that the same over-payments don’t continue to happen.
“We find something, change the policy, and make sure it doesn’t happen again,” he said. “If we run ourselves out of business, that’s a good thing.”
Canton First Selectman Bob Bessel added his support for Goodroot’s mission. The Courant quoted his speech telling attendees: “In Goodroot, we again have a simple idea, but it’s a huge one. We all know that the healthcare system, as it is now, is really untenable. This team has shown that smart business people can change how this all goes together.”
The Valley Press, the local newspaper in Canton, also published a story across two pages in the edition following the event.
