Journey of Marcy Heath - CEO of InoVentive Benefits Consulting
Marcy Heath is the Founder and CEO of InoVentive Benefits Consulting. She is a cost-containment consultant that works with CEOs and CFOs to liberate trapped capital hiding within their SG&A. Inoventive specializes in healthcare supply chain management, bringing budgeting predictability and stability into your healthcare unit while lowering out of pocket cost for employees and improving access to high-quality care.
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Their clients are able to level the playing field of income inequality, pivot OpEx into EBITA, eliminate controllable adverse selection, and reduce C-Suite fiduciary responsibility. Their clients are paying half the National average for healthcare benefits and offer their employees a zero deductible health plan.
Here is an exclusive Interview of Marcy Heath:
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What motivated you to start Inoventive? How did the idea come about?
Recognizing the need for viable healthcare options instead of the traditional "cookie cutter" plans, I decided in 2015 to add Inoventive Benefits Consulting to my already established business Insurance Solutions of the South. With employee benefits ranking second on most company balance sheets (second only to payroll), I felt compelled to create a portfolio of employee benefits plans to provide employers with non-status quo healthcare options delivering quality healthcare for employees and bottom line profits for the employer.
What was your mission at the beginning of starting your business?
In the beginning, and it still holds true today, my mission is to challenge the status quo as it relates to healthcare. I help employers get tangible ROI from their employee benefits spend, enabling them to grow their bottom line while empowering their workforce to better health outcomes for less out-of-pocket.
What do you attribute your success to? Is there a trait you have or a person who helped you along the way?
While the definition of success has many different meanings, it's hard work, perseverance, and making a meaningful difference in the lives of my clients. I am passionately committed to helping others, fiercely competitive, and relentlessly goal-oriented. My father started his insurance business 44 years ago, and he provided an avenue for me to learn the business and grow.
When times get tough, what would you say motivates you to keep going? To not hit the snooze button and to keep fighting for your goals.
I remember my "why." Whenever things get tough, I remember why I started my business, why helping my clients is so important…and I follow my passion.
Employees are one of the most important players to succeed in business. What do you look for in an employee?
Strong work ethic, team player, critical thinker, action and results oriented, good communication skills, growth mindset, problem solver.
What is unique about your business? Is there a competitive advantage that you have over the rest?
Exemplary customer service…there are all types of employee benefit plans on the market today. The one trait that sets my company apart is service before, during, and after the sale. My prospects and clients know they can count on me and my staff, which gives them a piece of mind.
Have you ever gotten a disappointed client or customer? If so, how did you handle the situation?
Yes, if you stay in business long enough, you will experience a disappointed client or two. I always try to listen and evaluate the issue then implement a solution to bring the issue to a successful resolution. For example, a company president was meeting with his employees and simply did not have employee benefits update for them. When we discussed the issue, I provided him with an honest, transparent assessment of their plan. He was extremely appreciative of the information provided and felt very comfortable hosting the employee meeting.
Is there a type of marketing that has worked amazingly for Inoventive? If so, how did you stumble upon it?
I use a wide array of marketing strategies but the one I've found that has yielded fantastic results is a wide spectrum of social media channels and outlets with the addition of radio advertising.
Is there any resource or resources that helped you on your journey to becoming a business owner?
I am a member of the NextGen MasterMind Group, and this partnership has played an integral role in my success over the years.
MasterMind partners collaborate with other agency leaders to solve problems, identify new growth strategies, and develop "NextGen" practices to elevate our businesses in the marketplace.
What are the three best pieces of advice that you would give to anyone starting a business? What do they need to know from the very beginning?
Please don't do it for the money. Take care of your clients, and they will take care of you.
Be in it for the long haul. When things change, adapt and align yourself.
Surround yourself with good employees. Hire those who compliment your weaknesses.
