Meet Phil Hagerman, Chairman and CEO of Forum Health, a trailblazing venture founded in February 2019 that is reshaping the landscape of healthcare from “sick care” to “well care.”
With a focus on changing the healthcare industry, Forum Health is the first nationwide network of functional and integrative medicine practices with a dedicated nutraceutical division, Inwell Biosciences; and a technology division, Power2Practice.
Humble Beginnings to Fastest Growing Healthcare Companies
Phil’s journey began as a pharmacist running a corner drugstore with his father. The personal connections first forged in caring for families fueled his commitment to service that continues to influence his work today.
In 1975, he co-founded Diplomat Specialty Pharmacy with his father, which swiftly became the nation’s largest independent specialty pharmacy. Diplomat’s revenue soared from $25 million in 2005 to over $4 billion in 2015. The company went public through an IPO on the NYSE in October 2014, earning recognition as one of the fastest-growing healthcare companies.
The experience gained at Diplomat, where he served as CEO and Chairman of the Board of Directors for 27 years, provides Phil with unique insights into the healthcare industry’s intricacies.
His entrepreneurial prowess, combined with regulatory, marketing, strategic, and operational expertise, positions him as a transformative leader at Forum Health and the emerging industry of functional and integrative medicine. In 2023, Forum Health was named one of the fastest growing companies in the U.S. by Inc. 5000.
Phil’s influence extends through Inwell Biosciences, offering physician-specific supplements, and Power2Practice, a widely used EMR and practice management software for integrative medical practitioners.
His legacy is not just a narrative of corporate success but a testament to his unwavering commitment to delivering impactful healthcare solutions.
A Dynamic Force in the Boardroom and Beyond
Phil embodies a passion for making a positive impact, a commitment that extends to his family, colleagues, and those whose lives he influences through the healthcare services provided by Forum Health. He thrives on interaction and derives enjoyment from engaging with people, leveraging his role to bring about positive changes in healthcare and contribute to broader societal shifts.
In his position at Forum Health, he finds a source of daily inspiration, reinforcing the belief that age is merely a number. At 71 years old, he feels a renewed sense of vitality, youthfulness, and energy. Phil embraces the challenges of the boardroom with enthusiasm, emphasizing that age does not limit his ability to stay vibrant and active, both professionally and personally. He lightheartedly mentioned that in today’s world we all want to remain vibrant and productive for years to come.
Continuous Learning, Technological Advancements, and Empathetic Innovation
Continual growth is synonymous with ongoing education and an insatiable thirst for knowledge for this CEO. He finds the current landscape of healthcare particularly exciting due to the rapid advancements in technology, offering the potential to propel healthcare forward at an unprecedented pace. The thrill lies in staying ahead of the curve and introducing novel capabilities to individuals that have yet to become mainstream.
A common perception is that healthcare lacks empathy, but Phil and the providers at Forum Health challenge this notion. At Forum Health, people genuinely care, and the challenge lies in delivering the right health resources to patients when they need them for optimal well-being. Traditional medicine tends to focus on “sick care,” neglecting the exploration of “well care.”
Forum Health emphasizes the importance of healthcare leaders being empathetic to patients while also thinking creatively about delivering new and unique care and services. The key, according to Phil, is finding innovative ways that are both affordable and meet the diverse needs of patients, an aspect often overlooked in conventional healthcare training.
Empowering Collective Impact and Collaborative Excellence
Phil emphasizes the importance of teams in making a real impact, stating that while individual heroics may receive visibility, it’s the collective effort of teams that creates lasting change every day.
At Forum Health, behind-the-scenes teams play a crucial role in driving positive transformations, and true progress often stems from collaborative efforts rather than the actions of any single individual. Phil recognizes that vision is essential, but it’s the strength and dedication of a great team that turns a vision into reality, underscoring the significance of teamwork in achieving meaningful goals.
Phil highlights the importance of finding creative and versatile individuals in the context of Forum Health’s continuous growth and reinvention. He values team members who are willing to wear multiple hats, which demonstrates the ability to contribute to different aspects of the organization and drive positive change.
He emphasizes the significance of employees who not only create measurable impact within their departments but also collaborate effectively with other teams to propel the entire organization forward. Forum Health prioritizes the success of the team over individual achievements and recognizes that teamwork is a key element in building a great company.
Technology Ushers in a Paradigm Shift to “Well Care” in Healthcare
The most significant change is the growing desire of individuals to take control of their health. Historically, people relied on doctors and insurance companies to dictate their care plans, however, a notable shift has occurred in recent years, with individuals now actively seeking to be more engaged in their healthcare decisions. This is precisely the gap that Forum Health fills in the market, with personalized care and patients treated like partners in their wellness journey.
The increased accessibility to technology, which has empowered consumers by providing them with information at their fingertips, is at the forefront of everything Forum Health does.
Forum Health is built on responding to this newfound access to information that has fueled people to demand personalized healthcare solutions that align with their individual needs rather than adhering to a one-size-fits-all approach.
According to Phil, technology has played a pivotal role in accelerating this shift, marking a significant departure from previous “sick care” healthcare dynamics.
Leadership Philosophy: Combining Heart, Instincts, and Calculated Risks
Phil emphasizes that the most significant professional risks he has taken revolve around following his heart and instincts, even when the data might not always align with his convictions.
While acknowledging that this journey can be filled with uncertainties and potential challenges, Phil contends that refraining from taking risks can be equally, if not more, detrimental to professional growth and success.
This perspective reflects his commitment to intuition, conviction, and the willingness to navigate uncertainties in the pursuit of meaningful objectives.
In terms of leadership, Phil emphasizes the importance of taking risks, being bold, and fearlessly investing one’s heart and soul into what they believe in. However, he cautions against blind risk-taking, highlighting the need to understand the space and available data to validate the risk/reward equation. Phil encourages avoiding excessive caution, which could stifle creative abilities, and instead advocates for a balance between boldness and informed decision-making.
A Posittive Outlook and Source of Joy
Phil attributes his success to an unwavering determination and an innate belief that there’s always a solution to be found. He thrives on being a problem solver, relishing the opportunity to discover unique methods that may not have been considered by others. His success, however, is not only measured in professional accomplishments but also in the value he places on people, relationships, and the joy they bring to his life.
As a visionary leader, Phil sees his role as guiding Forum Health on a path of innovation and delivering true value to the healthcare landscape. He acknowledges the vital role played by his exceptional team in driving the company and bringing his visions to life every day. Phil, drawing on his extensive experience in healthcare, feels a responsibility to navigate Forum Health towards a future where it fulfills the evolving needs of healthcare, introducing “well care” to the masses in unprecedented ways.
He finds his greatest joy in the simple yet profound act of making a difference. Whether it’s impacting a single person’s life, providing an opportunity for an employee, or introducing innovative programs and treatments through Forum Health that can benefit thousands – the common thread is the chance to create positive change.
For Phil, happiness lies in the opportunity to leave each day better than when he started, knowing that his efforts contribute to making a meaningful difference in the world.
Vision for the Future
Phil highlights the hunger for changes in the healthcare model, indicating a desire for a paradigm shift. People are actively seeking a different approach and demanding that healthcare providers meet them where they need and deserve to be met. While the future remains uncertain, Phil expresses confidence that the journey ahead will be an exciting one to be a part of and witness.
His goal is to actively contribute to Forum Health’s vision, energy, and enthusiasm while gradually reducing his involvement in day-to-day operations. His aspiration is to shift his focus toward shaping the company’s strategic direction, embodying the role of a visionary leader. In a lighthearted touch, he expresses the possibility of enjoying a margarita on the beach as he assumes this strategic leadership position.
