Close to 100 senior executives from across the entire field of
healthcare, plus additional industries including retail, venture
capital, social media, and IT will meet this week in Chicago to discuss
and plan for a radically changed healthcare market. The session
sponsored by the Oliver
Wyman Health Innovation Center, will focus on perhaps the most
striking feature of the emerging market: the way traditional healthcare
companies and new players such as retailers and IT companies are coming
together in new, potentially powerful combinations. More information on
the agenda and speakers can be found here.
“We expect to see traditional health insurance companies get more
involved in the delivery of healthcare,” explains Sukanya Soderland, a
partner in Oliver Wyman’s Health & Life Sciences practice group and a
member of the center. “And some of the newer models of healthcare
delivery such as accountable care organizations force doctors and
hospitals to take on part of the financial risk of caring for patients,
moving them closer to the role of insurer.
Oliver Wyman Partner Charlie Hoban adds, “The new healthcare market will
be much more consumer-oriented, much more technology-enabled, and much
more focused on wellness and healthy lifestyles, and that means there
will be a role for a whole array of new players. It’s not just that they
have an opportunity—they’re needed. As one executive told us, ‘It’s
unlikely that the traditional players, tied as we are to our business
models and assets, will be agile enough to revolutionize healthcare.
Look at Amazon and bookstores.’”
Participants in the session will work together to answer three key
questions about healthcare convergence:
-
What are the rules of the new market?
-
What business models are most likely to succeed?
-
How will companies need to change to compete in the new healthcare
world, and what happens to companies that fail to change?
Speakers and participants at the event will include:
-
Brian Ancell, executive vice president of Healthcare Services and
Strategic Development for Premera Blue Cross, a 1.5-million member
health plan in the state of Washington
-
Peter Hudson, co-founder and chief executive officer of iTriage,
developer of a best-selling symptom-checker smartphone app
-
Jason Gorevic, chief executive officer of Teladoc, a 6 million–member
telehealth provider
-
Alex Drane, co-founder, chief visionary officer, and chair of the
board of Eliza, which uses speech recognition technology to engage
people in conversations about their health and drive healthy
behavioral change.
“Much of what’s wrong with U.S. healthcare starts with a business model
that rewards the wrong kinds of behaviors on the part of doctors,
hospitals, insurance companies, even patients. We understand how to fix
it, but it’s a complex process. Meetings like this, where leaders come
to share their ideas on how they plan to evolve, are a crucial first
step,” says Soderland.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With offices
in 50+ cities across 25 countries, Oliver Wyman combines deep industry
knowledge with specialized expertise in strategy, operations, risk
management, and organization transformation. The firm's 3,000
professionals help clients optimize their business, improve their
operations and risk profile, and accelerate their organizational
performance to seize the most attractive opportunities. Oliver Wyman is
a wholly owned subsidiary of Marsh & McLennan Companies [NYSE:MMC]. For
more information, visit www.oliverwyman.com.
Follow Oliver Wyman on Twitter @OliverWyman.
About the Oliver Wyman Health Innovation Center
Oliver Wyman has recently launched a Healthcare Innovation Center
(OWHIC) dedicated to promoting positive change in healthcare. OWHIC will
champion innovation by disseminating proven innovations; envisioning
market-based solutions to today’s and tomorrow’s challenges; and
establishing a cross-industry community of thought-leaders to share and
shape ideas.
OWHIC is an integral component of Oliver Wyman’s Health & Life Sciences
practice, which serves clients in the pharmaceutical, biotechnology,
medical devices, provider, and payer sectors with strategic,
operational, and organizational advice. Deep healthcare knowledge and
capabilities allow the practice to deliver fact-based solutions.
For more information on OWHIC, visit www.oliverwyman.com/healthinnovationcenter.
Copyright Business Wire 2013