On episode 20 we're learning from the President of FIT-C, Bryan O’Rourke, about one of the most pivotal legislations pending in Congress that has a direct impact on the success and longevity of your fitness business. We're talking about the PHIT Act.
This legislation has the potential to transform our space and help put prevention in our healthcare system, because as you learn from Bryan, with as much as were doing in the fitness and wellness worlds to reach as many people we can, the reality is that our current healthcare model is broken.
What we have now isn’t healthcare, it's sick care.
Make sure to take action after listening to the show by clicking on this link and view the resources below where you can have your voice heard by writing your member of Congress to ensure that activity expenses are covered under pretax medical accounts.
We'll also hear from Bryan about his recent webinar with Club Industry:
"The Five Simple Ways To Use Technology To Increase Revenue" and why he believes that consumers have quickly shifted into becoming more digitally attuned now than ever before, and how smart club owners and operators that focus on omnipresence and various technologies can reach current and future members at their deepest needs.
Bryan O’Rourke serves as president of the Fitness Industry Technology Council, a consortium of leading companies working on technology standards for health and wellness. These organizations collectively serve more than 1,000 fitness facilities, dozens of organizations and more than 5,000 instructor professionals. Bryan is an entrepreneur, investor and former club owner who has worked in the health club and fitness industry with his partners for 18 years. He has presented as a keynote speaker at industry and corporate conferences on four continents.
He is widely published and quoted in periodicals such as Inc. Magazine, the Wall Street Journal and the New York Times, and was recently recognized as one of the top 17 most influential entrepreneurs on Twitter. IHRSA named him one of 13 to watch in 2013. Bryan has recently contributed to a newly released book with other European thought leaders titled "Essentials of Motivation and Behavior Change."
Listen To Episode 020 As Bryan Uncovers
The Personal Health Initiative Today Act: What the passage of the #PHITAct will mean for the fitness industry
How this legislation incentives people to spend money on exercise and self care by making those expenses tax deductible
When the legislation has been re-introduced and what we need to push it through congress
Bryan's view on the major discussions in the USA about healthcare reform
Why 3/4 of chronic illness comes about though lifestyle choices
How you can make your voice heard by asking your congressional representative to pass #PHITAct
How industry leaders like Meredith Poppler are championing this incredible legislation
How this legislation will cost only one-one thousandths of 1% of the annual federal budget over 10 years
What this means to families who need more fitness in their lives: Saving 20-30% on annual physical activity costs
What are simple ways to use technology to increase revenue in your fitness business
Top 3 Takeaways From The Show
Right now in the United States, the "sick care" system is broken. Our current paradigm is focused on responding to disease and not preventing disease in the first place. Three quarters or more of chronic illness comes about through lifestyle choices, so when we look at how exercise can positively impact human health, getting people to participate in primary prevention for their own health strategy is smart. If we spend our efforts doing that, we can avoid spending billions of dollars on an unsustainable system.
Currently, pre-tax medical accounts are primarily used for reimbursement of medical expenses once you become sick. With the #PHITAct, this will allow taxpayers to place up to $2,000 a year in existing pre-tax medical accounts for reimbursement of physical activity expenses. Lower costs will promote active lifestyles and improve the health of Americans. The #PHITAct will put prevention in our healthcare system.
Bryan believes there are four key drivers that are impacting reinventions in our industry: changing consumers, advancing technologies, new economics, and globalism. The bottom line is moving more transactions for the health club online to make it both easy for more people to join clubs, and provide a seamless experience for marketing, selling, and servicing members in a truly personalized way, based on who they are.
Power Quote From Bryan
"As the technology goes to the trough of disillusionment and climbs the slope of enlightenment, we will see the market rush to adopt. All business models need to look at a strategic view of what they can do for the near-term around existing business models, and how they can apply technology in a way that can really help with their midterm and long-term strategies." - Bryan O'Rourke on the Fitness + Technology Podcast
“Right now in the United States, the "sick care" system is broken. Our current paradigm is focused on responding to disease and not preventing disease in the first place. Three quarters or more of chronic illness comes about through lifestyle choices, so when we look at how exercise can positively impact human health, getting people to participate in primary prevention for their own health strategy is smart. If we spend our efforts doing that, we can avoid spending billions of dollars on an unsustainable system." - Bryan O'Rourke on the Fitness + Technology Podcast
Resources Mentioned From Bryan
Bryan's Website
Bryan on Twitter
Bryan on facebook
Ted Vickey & Graham Melstrand: ACE Webinar
For IHRSA & Health Clubs The Opportunity Of An ERA Is Here With Passage of #PASSPHIT
Bryan's SlideShare: The 5 Simple Ways To Use Technology To Increase Revenue
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Thanks To Our Outstanding Sponsors
Bryan O’Rourke and his family of companies including Vedere Ventures, Integerus Advisors, and many more. If you are looking for unmatched guidance, capital, insights or a great speaker or facilitator, Bryan and his partners are the go to resource for your organization. To learn more visit bryankorourke.com
The Fitness Industry Technology Council, your non-profit resource for reliable technology information supported by forward looking brands who are seeking to drive increased technology adoption in the fitness industry. Make a difference and join FIT-C at fittechcouncil.org today
Check out Bryan and his partner Robert Dyer's recent book "9 Partnership Principles: A Story of Life Lessons" which is available now on Amazon.com