Today on Insights. We go back to a conversation Host Bill Russell had with Karen Horgan the CEO of VAL Health. The topic of discussion was The Role of Behavioral Economics in Helping People Forming Healthy Habits. And Bill asks Karen what behavioral economics is really all about.
The Role of Behavioral Economics in Helping People Forming Healthy Habits with Karen Horgan,:
This transcription is provided by artificial intelligence. We believe in technology but understand that even the smartest robots can sometimes get speech recognition wrong.Bill Russell: [:nversation Host Bill Russell [:what behavioral economics is [:
Karen Horgan: Great. I will tackle that. And afterwards, we can have a longer conversation about McDonald's and how to drive your specific behaviors.hat we should be selling off.[:
We avoid probabilities and spent over $70 billion a year on lotteries so behavioral economics is that science that we now understand how humans are going to behave rather than trying to get people to not behave that way, what we can do in healthcare is acknowledge those irrationalities and decision biases and incorporate them to drive specific behavior changes.
Bill Russell: So are you saying where we're predictable in our irrational behavior? Is that what you're saying?And so we know that we have [:supersize your French fries [:
Bill Russell: So talk to me about social media tools. So TikTok in the news right now being bought by Oracle. An acquisition I do not understand. I cannot explain to anyone who's asked me, but you have TikTok, you have Facebook, you have LinkedIn. And it's funny. Cause every week my phone sorta shows me, Hey, this is how much time you've engaged with your phone.ey know how to get me hooked [:
And you touched on Netflix a little bit there. Can we do that same thing in health? Can we ever get to that point where it becomes a habit forming thing where I'm exercising and I'm dieting and all those things.
Karen Horgan: So, I'm going to take maybe a controversial statement on that. I actually think we want to get to the point where you don't have to be thinking about your health, but you're actively doing it.ation. But if we want people [:
How can we use technology to take away steps that we're asking people to do? Can you wear one of these kind of Packers that I found on my wrist that will tell me if my blood pressure gets too high? Or are there ways that you can check my blood sugar if I'm diabetic, without me having to think about it.y alert me to when I need to [:nudge and create new habits.[:
Bill Russell: This is one of those Bill Russell's just asking a question. Cause I'm curious, w I've seen health systems who like handout tools. They like give them away. Is there something about investing in the tools that when people actually have paid money for a Fitbit or whatever, that they're more prone to use them?d if I go spend money and my [:ealth plan who do send these [:
Bill Russell: I want to thank Tracey for another great episode. If you have feedback regarding the content and materials that you just heard and would like to help us to amplify great thinking to propel healthcare forward, please send us a note [email protected] Thanks for listening. That's all for now.