Two Things I Learned at Our 2018 Summit
Our annual thought leadership event, The Summit, has been an immersion experience in the business of healthcare, and how the business challenges the industry faces (“hungry tapeworm,” anyone?) are at the center of discussions around quality, access, and value. On day one we heard from Nate Kaufman, a panel of distinguished healthcare attorneys, a panel of well-known provider executives moderated by Clint Hailey from Tenet, and hospital association executives from three states. Everyone shared their viewpoint, their lenses on the industry, and their beliefs about where we should go next.
On day two, we heard from Paul Keckley about the converge of industry and policy and politics, from Emily Evans at Hedgeye and Josh Raskin at Nephron Research about the Wall Street view, and from David Perry from University of Utah Health, Lynn Barr from Caravan talking about industry-leading successful ACOs, and then experts from BrandActive, Contessa Health, and Navigant. We finished the day with a great panel discussion on the consolidation of physician groups. It was an incredible day filled with big ideas, challenging concept, and important discussion.
So here are the two things I learned from The Summit. Actually, I probably learned about a hundred things, to be fair.
1. I learned that the battle to control the patient’s access has been joined, and there’s every reason to expect it to intensify between now and 2022. We have talked about this in terms of “top of the funnel” marketing – focusing marketing spend and attention on primary care, urgent care, ER, and other non-IP services – as a way of driving volume down into service lines, as well as reshaping the health system’s value proposition to consumers. The Summit speakers talked a lot about Optum and CVS/Aetna and the new competitive set emerging in this space. There is some serious urgency to get this right, and quickly.
2. I learned that the transition to value based care (and value based payment) has slowed to a crawl, and pessimism has overtaken optimism about the opportunity for health systems in this space. Everyone wants more value for their healthcare dollar, but so many of the speakers and the hallway conversations focused on the weird “in-between” place we find ourselves. Nearly everyone thought we would be at 30-40% of revenue from value based payments and it’s been stalled at 10-12% for three years. Nearly everyone thought models would have matured and spread, and yet there are few success stories – Caravan’s ACO strategy is one of them, to be sure. And this has huge implications for marketing, and indeed for every function at the health system.
Every year, I think The Summit is an amazingly inspirational touchpoint for me, the ReviveHealth staff, and the 150 people who join us for the event. We will share more of our key learnings and what to do next in the coming days and weeks.