When our founder, Parker Waybodie, was a young boy in the 20th century he dreamed of one thing: monopolizing healthcare. It was an uphill battle, but after receiving a large dowry from his wife's father, he invested in a small health insurance company known as Free Living Healthcare. Over the next ten years Parker ruthlessly worked his way up from the board of directors to CEO and would serve in that position until he passed away at 94 in 1996.
After the Korean War, Parker Waybodie rebranded Free lIving Healthcare to Ascended Healthcare and worked on seting itself apart from other private health insurance companies: by only providing healthcare to the executives of private health insurance companies. Often times, these executives found their experimental life extending treatments weren't covered by their own health care policies. By charging incredibly high deductibles, AHC was able to help our clients afford these costly procedures.
Parker Waybodie positioned AHC in such a way that we were in the position to begin purchasing the smallest of rival insurance companies. This quickly allowed AHC to build a small, yet growing source of income for AHC. Thanks to massive deregulation in the healthcare industry, by 1985 AHC was able to execute four simultaneous hostile take overs of the remaining competition. This massive victory for AHC made us the single provider of health insurance in the United States.
Some members of the United States Congress made threats to break up AHC, but were quickly convinced to embrace our monopoly as the method of introducing single payer healthcare in the United States. We at AHC wanted to chart a new course for what an American version of single payer healthcare could look like - one that was privately held.
In the wake of the September 11th attacks on New York City, the United States Federal Government was looking for ways to re-allocate funds towards the wars in Afghanistan, Yemen, Iraq, the Philippines, and Pakistan, AHC presented a solution: privatizing Medicare and Medicaid. This would be the final piece of the puzzle which makes Ascended Healthcare the organization it is today.
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