April 15, 2019 | 11:15 a.m. – 12:00 p.m. CDT
Last year, the news that Amazon, Berkshire Hathaway and JP Morgan Chase joined forces to create their own healthcare company rocked the industry. It was a clear signal that healthcare is ripe for disruption and massive change that will put the patient at the center. “Platform” companies like Amazon, Uber, Airbnb and Netflix disrupt and reconfigure incumbent business practices. They connect suppliers (where costs are) with customers (where the money is) by delivering superior products and services at competitive prices with great customer experience. They prioritize outcomes, not ownership and control. Healthcare companies that can move quickly to evolve towards being more like a platform business, which builds itself around the needs and expectations of the patient, will be best positioned to adapt to the disruption coming to healthcare.
This session will explore how to be more like a platform company and the role that a thriving, nimble telehealth network plays. With telehealth, providers are able to seamlessly meet patients where they are at — physically and figuratively, in their health journey. The game changer with telehealth services is that they enable us to move knowledge, not people.
The benefits of building out your telehealth services to stay ahead of the disruption curve include:
- For providers, the shift to a platform business model frees doctors to focus on what they want to do — keep a patient healthy.
- It also eases the burden of ownership and control of property; fewer expensive quaternary and tertiary hospitals need be built as a majority of the same care can be provided in critical access hospitals through virtual care coordination.
- For patients, the lower barriers to entry to see a provider, increases access points, and convenience keep them at the center of care.
- Amy Compton-Phillips, MD, Chief Clinical Officer, Providence St. Joseph Health, Providence St. Joseph Health