This Week Health 5 Years

Contributors

December 7: Today on the Community channel, it’s an Interview in Action live from HLTH with Glen Tullman, CEO of Transcarent. Healthcare is more confusing, more complex and more costly than ever before. And it’s getting worse. We’ve got to firstly, fix the experience and then secondly, the alignment. How is Transcarent is changing the face of healthcare? What are they doing that puts people back in charge?

Transcript

This transcription is provided by artificial intelligence. We believe in technology but understand that even the smartest robots can sometimes get speech recognition wrong.

interview in action from the:tion at the Health Conference:

Well, it's great to sit down with you. We've been going at this a long time.

Yes, absolutely. I saw that Allscripts rebrand. They're a new name. I don't remember the name. I saw the thing somebody said, oh, that's all Allscripts. They, they rebranded.

I think what they did was they're still in Allscripts and they split off. Oh, okay. A big part of the business. Wow. So it's two separate businesses.

Amazing, but you're a long way From there Transcarent, tell us what's new, what's going on at Transcarent?

So, first of all, to remind your viewers so Transcarent, what we're doing is creating a new, different and better health and care experience that puts people back in charge of their care.

Really important. And that aligns with the people who pay for that care and the people who pay for that care. All of us were paying an increasing percentage of the care and the employers. we work For, so we're trying to build a model that's focused on experience. If you survey people today, what they say across the board, and I, I always joke that this is a place where the country is united.

Yeah. Republicans and Democrats, men and women, they say healthcare is more confusing, more complex, more costly than ever before in getting worse. So we gotta fix the experience and then second, the alignment. And if you remember Haven, some of your viewers will remember. That was formed because basically a number of the country's leading businesses said the current system isn't aligned with our end interest, which is higher quality care and reduced cost.

And so what we're doing at Transcarent is trying to solve. Both those issues, creating an experience that people don't just like what they love. And then secondarily, make sure it's aligned with the people who pay for care and that's self-insured employers, and that's all of us. And that's really what we're doing to do that.

We have to reinvent a lot of the existing system, and we for sure have to reinvent the business model. A lot of people say healthcare is broken, healthcare is not broken. The business model for healthcare is broken,

right? So you're partnering with healthcare providers and you are serving the employer market. You're not really serving me as an individual. I can't come to Transcarent yet. But you're serving me as an individual who's employed by one of the employers here.

That's correct. And, and the employees and their families. Right. So but that's right, right now we aren't doing direct to consumer. Maybe sometime in the future.

What are employers telling you they want? I mean, is it, is it cost? I mean, because that's what we heard with, with the advent of Haven. It was, I mean, it was Titans essentially sitting there going, this is outta control. We just can't. And if I have to I feel as a CEO, I feel 20 emails a week telling me how bad our healthcare is. Yeah. It's like we can't do that. We love our employees. We're trying to take care of, is that what you're here?

Well, you've hit on both of them. One is experience and that is the only thing worse than having a bad experience in anything, whether it's a restaurant or anything else, is it expensive? Bad experience. An expensive bad experience. And you just hit on both of 'em. So you, did you answer the question for me? One CEOs are saying costs are out of control, and what's worse is we aren't getting quality care. And our people don't just dislike it, they hate it. And for 20 years we've been promised by folks they're gonna fix it and they haven't.

Most recently, the navigators. They said, we're gonna help you not fix the mess. We're gonna help you navigate through the mess, but to do that, pay me a lot of money and I'm not gonna fix it. And so what they found was there was no ROI. And so now they're looking for something that's different than they've seen before.

All right. Your experience with this, I'll throw you a couple curve ball. How do you, how do you marry the experience? So every health system I know is trying to build out an experience right now. Not to compete with you, mind you, but just they've been told the experience is bad, we need to do this.

And so they started with portals and now they're building other things on top of it, and they're building out their call centers and they're doing all those kinds of things. Now you have an experience over. That is for the employer. So the, the employees are calling your call center and you're helping them helping them to create a smooth experience, I guess, through that thing. Yeah. How do you integrate those two things to make sure they're not working against each other potentially?

So, first of all, just to correct a few things so we don't have a call center. Okay. But we have people who will take calls. what you have to do is start with the experience. You have to totally redesign it.

So for example, the best experience is not having to call at all. Yeah. So the first thing, and it's funny cuz we've been in some RFPs and people say, how long is your call? Your average call length? I said, why would that matter? And they look at me like I'm crazy. I say, if I'm calling about heart surgery, an hour may not be enough.

If I'm calling to find out directions to my care provider or the wait time in an er 30 seconds is fine. Do you want an. Do you want a low number? Do you want a high number? You're using metrics that are completely wrong to measure and to evaluate people. So you've gotta redesign the experience.

That's number one in terms of health systems. Some are trying to re-engineer or redesign that experience, but they only have a sliver of that experience because one. I start my experience. If I have a pain, I might Google for the answer. Then I get my care at multiple places. I get my labs at multiple places.

I I might have a dietician. That's another place I might have a therapist for mental health. How do I pull that experience together? No one's been able to do that. And and in our experience, what you do is I look at my phone right now and logs me on, and then I literally touch a key on my phone.

I can see it here, and I touch that key and I'm instantly logged. Right there, face id, and now I'm into the experience. I can talk to a physician in literally 60 seconds or less, 24 hours a day. I can schedule my appointments, I can get lower cost meds. I can actually work to get care at. As opposed to an er, I can get surgery.

And last but not least, complex surgeries, like cancers, I can do all of that. So all in one place. Now, here's what's unique about it. One, for the average employee, let's say you work at Target. If you use our system, there's no cost. None whatsoever.

Yeah. Thank you. I, I'm thinking about that. The interesting thing to me About that experience that you just described is how much of we talked about partnerships earlier on and the partnerships with the health systems. Am I talking to somebody at those partner health systems? You're not setting up like a, a Teledoc or MD live where you have your own panel of physicians. Are you?

So there's different kinds. Again, you have to understand what people want. And so if you're

Well, urgent care, I want somebody pretty quick.

You want somebody instantly. And Livongo again, our standard was 60 to 90 seconds. Because if you're dealing with an urgent situation, you want to talk to someone urgently, right? So you know, that's very different than telehealth.

We talk about telehealth, but the average person across the country he or she doesn't have a screen in front of them all day long. They're delivering food, they're stocking shelves. They want to do texting. And so we have a big focus on texting 60 seconds, 24 hours a day. So that's what we're doing there.

To what physician? What's that? To what physician?

To physicians. Who are our physicians. Okay. Now, if you want a, an appointment at a local health system, we'll schedule that. We don't compete with them, but no physician wants a text 24 hours a day.

You're looking at that entire experience from end to end is what you're looking at. yeah. I wanted to riff a little bit with you on the state of healthcare, right. We've seen a lot of returns. It seems like the. providers that have a decent mix of at risk contracts and whatnot are weathering the store pretty well, but the others are taking a significant hit right now. What do you see in the healthcare market and what do you think it's gonna take to get out on the other side?

Well, so again, I think if you look at who's benefited in healthcare, it wasn't the providers and it wasn't those paying for care, it was the middle. Yeah. So I think we have to rethink the business model and focus much more on risk share, and I'll take full risk, and that's what we do at Transcarent, as opposed to saying, I'll deliver part of the service and you see how low I can deliver care.

So is this, is this why employers do self pay? They essentially try to start cutting out the middle man and then partner with Transcarent. Exactly. Cut out the middle man. Exactly. of,

There's not so much to cut out the middle. It's where it makes sense. We are partnering in some cases with payers, with PBMs, just not in all cases.

your history with Livongo stems from a, personal story and those kind of things. Since the last time we talked, we, we've seen the generic insulin, I think, is that the right terminology for it? The generic insulin essent. That's, that's gonna be a game changer in that space, isn't it?

It is. So I'm very proud that, and this is separate from Livongo with my Family Foundation, partnered with Civic RX to deliver low cost insulin across the country. And we're building plants right now to do that. Building plants. Yeah. Wow. The first one's in Virginia. Next year we'll be able to cover about a third of all the insulin used in this country. Sell it for wholesale, $15, retail, $25. How does that compare? It's essentially the cost of a copay versus $200 today.

Wow. what percentage of the population. Struggles with diabetes at this point.

So I think in terms of the population, when you talk about type one and type two we have something on the order, 10 to 15% of the population now,

man, that's a, that's a, that's a game changer.

It is an absolute game changer.

I'd love to see more game changers like that in the industry. Yeah. Glen, thank you for, thank you very much. We appreciate your leadership.

Great to be able to spend some 📍 time together.

Another great interview. I wanna thank everybody who spent time with us at the conferences. I love hearing from people on the front lines and it is Phenomen. That they have taken the time to share their wisdom and experience with the community, which is greatly appreciated. We also want to thank our channel sponsors one more time, who invest in our mission to develop the next generation of health leaders. They are Olive, Rubrik, Trellix, Medigate and F5. Thanks for listening. That's all for now.

Want to tune in on your favorite listening platform? Don't forget to subscribe!

Thank You to Our Show Sponsors

Our Shows

Keynote - This Week HealthSolution Showcase This Week Health
Newsday - This Week HealthToday in Health IT - This Week Health

Related Content

1 2 3 192
Amplify great thinking to propel healthcare forward and raise up the next generation of health leaders.

© Copyright 2023 Health Lyrics All rights reserved