Download and share more than 30 charts, infographics, and reports from the last year on topics from ACO tech to price transparency, retail healthcare, pharma value solutions, and Health Market 2.0. Click on the image below or visit the Oliver Wyman Health Innovation Center on Pinterest here.
In a new podcast, Adriene Hill talks with Dan Gorenstein, senior reporter for Marketplace’s Health Desk, on “What Healthcare in 2015 Will Look Like.” Gorenstein cites Oliver Wyman’s Tom Main, who observes that the industry is on the verge of offering “way more accessible, way more personalized, way more real time” options for consumers. Gorenstein also includes commentary from Carnegie Mellon economist Martin Gaynor on the potential cost impact of hospital mergers. Listen to the full podcast here:
There is an abundance of innovative solutions in the market today that meet consumers where they are to provide the support, information, and care they desire. New solutions are helping consumers take greater control of their health. See below for a list of a particularly disruptive dozen. Click on the company name to download each MediFuture presentation.
Oliver Wyman’s Sukanya Soderland
Health & Life Sciences Partner Sukanya Soderland writes in a provocative guest blog post for the Harvard Business Review that “health insurance companies are uniquely positioned to save the day in our ailing health system.” While some may view payers as the unlikeliest of healthcare heroes, Soderland explains how they can use their market power and understanding of consumer segments to propel the shift toward a low-cost, value-based healthcare system. She sees a number of opportunities for payers to break out of traditional models and act as true partners to value-based providers, offer options for low-cost, convenient care, and spur healthy behavior change. In an increasingly personalized marketplace, she envisions health insurers as serving as the “bridge” between consumers and new tools and platforms. “We need someone to cut through the complexity of the current system, demand true value from providers, and create better options for consumers,” she writes. “Insurers increasingly look like the folks who can do the job and reinvent their business at the same time.” Read her full set of proposals here.
Dan Buettner: Health behaviors are as contagious as catching a cold. Who you hang out with has profound impact on your health. #MediFuture
— Helen Upton Leis (@Helen_Leis) September 18, 2014
Brenda Dietrich is an IBM Fellow and vice president, currently leading the emerging technologies team in the IBM Watson group. She joined IBM in 1984 and has worked in the area now called analytics for her entire career. While at IBM she has worked with almost every business unit and applied analytics to numerous IBM decision processes. She explains on A Smarter Planet blog the importance of incorporating data and computation into business decisions: “Today’s world is so complex, so fast moving, and with such a range of competitors that, while gut instinct is still valuable, it really needs to be informed by actual information. But, I don’t think analytics and gut instinct are exclusive of each other.” In the MediFuture video above, she shares how Big Data can be applied in healthcare to enable healthy living and support wellness initiatives. Download a PDF of her presentation here.
Roche announced today that it has entered the genomic informatics market with its acquisition of Bina Technologies, a privately held company that provides a big data platform for centralized management and processing of next generation sequencing (NGS) data. Bina’s proprietary on-market Genomic Management Solution empowers basic, translational, and academic researchers to perform fast and scalable analyses to maximize the value of genomic data. Said Roche Sequencing Head Dan Zabrowski: “The acquisition of Bina is a significant step for Roche to enable the promise of personalized healthcare by delivering the highest quality genomic data possible. Bina’s products are designed to improve the efficiency and value of genomic analysis, and the company continues to develop new methodologies and algorithms that link NGS data to disease-relevant genetic markers.” In other health innovation news:
The George Washington University Office for Clinical Practice Innovation has launched a podcast series to generate conversation about more efficient, cost-effective healthcare delivery. Subscribe to the series here.
[The] ability to search my patients for specific data points serves as a safety net to my current personal tasking system. This empowers me because I can focus my energies on people who need the attention and we as a team can use our time more effectively to come up with how to focus our outreach efforts. – Health Coach C. Leigh Goldsmith on Iora blog
In its annual survey on the usage of electronic health records, Xerox found a majority of Americans (64 percent) do not currently use online patient portals, but more than half of those who don’t use portals (57 percent) say they would be much more interested and proactive in their personal healthcare if they had online access to their medical records. Find the full report and infographic here. A snippet:
Source: Xerox
Our MediFuture video series continues with this presentation from Livongo Health CEO Glen Tullman on how empowering patients with more real-time information about their health can improve outcomes. His new company Livongo is focused on reinventing the way people manage chronic conditions, beginning with diabetes. By offering the right information, tools, and support, at the right time, he explains, Livongo aims to empower people with diabetes to live better and improve their health while reducing the cost of care. Download a PDF of his presentation here.
Contributed by Oliver Wyman Partner Niyum Gandhi:
In our last ACO Buzz post, we reviewed the changes the Centers for Medicare & Medicaid Services (CMS) has just proposed to the Medicare Shared Savings Program (MSSP). They’re all important, but none more so than one set of proposals that the agency has published for review and comment. They cover perhaps the most difficult and contentious issue MSSP faces: how to set benchmarks. In principle, it’s easy to structure a payment program for an accountable care organization (ACO). If the ACO saves money, the ACO gets to share in those savings. If the ACO ends up costing more money, the ACO is responsible for part of the coverage. So far, so good. But what’s the benchmark—what’s the cost you use to determine how much the ACO saved or lost? That turns out to be complicated. The Affordable Care Act took a straightforward approach: If you participate in MSSP, you’re in competition with your own previous performance, not with other provider organizations; your benchmark is calculated based on the cost of care you delivered for the previous three years, trended forward based on national Medicare expenditures. That may sound reasonable, but it has created considerable dissatisfaction, especially among the most successful and innovative ACOs. As we’ve described elsewhere, the system sets the bar high—arguably too high—for providers that have historically controlled their cost of care, while providers with the highest current cost of care can receive shared savings with minimal improvements. Moreover, to continue receiving a shared savings bonus and, in some cases, avoid a penalty, providers have to continue to beat more and more stringent benchmarks every year. This may drive many providers out of the program—indeed, already some high-quality ACOs are trying to get more of their patients to enroll in Medicare Advantage, with a goal of eventually bailing out of MSSP, or potentially not serving Medicare fee-for-service beneficiaries in their primary care practices at all.
There are currently 80 million Millennials in the US, making up 25 percent of the total population. This oft-misunderstood group is the future health consumer with a direct spending power of $200 billion (and an additional $500 billion in influence with their parents). Their habits and preferences regarding communication, personal interaction, and purchasing are significantly different than those of older generations. At Oliver Wyman’s MediFuture conference, angel investor Esther Dyson, founder of the Health Initiative Coordinating Council (HICCup), facilitated a “Meet the Millennials” panel discussion with Florida college students on their priorities and how they think about health. Hear some of their often surprising insights and suggestions in the video above. For more on Dyson’s work improving total population health in five Way to Wellville communities across the country, visit her team’s latest blog post here and download the Way to Wellville briefing book here.
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