Takeaways From SXSW 2017: Why Aren’t We Shopping for Healthcare Austin Wei March 2017 OCHWW @ SXSW
Takeaways From SXSW 2017:
Why Aren’t We Shopping for Healthcare
Austin Wei
March 2017
OCHWW @ SXSW
WHY AREN’T WE SHOPPING FOR HEALTHCARE?
What is the current landscape of healthcare?
Healthcare is the largest personal finance issue currently affecting this country
An expensive bill can be, in some instances, as devastating as a bad diagnosis
Healthcare is the largest type of search on Google
No. 1 reason for lack of adherence is cost
Healthcare is something we spend most on in our lifetime and can be
in some instances more than our mortgage
You make these once-in-a-lifetime purchases and will never have to make
them again (eg, ACL reconstruction) so you are always a first-time buyer
Without proper guidance and oversight from the government, people are
at a loss as to how to guide their decision making
SUNITA DESAI - HARVARD
DAVID VIVERO - AMINO
NOAH LANG - STRIDE HEALTH
SIVAKAMI SAMBASIVAM - GOODRX
WHY AREN’T WE SHOPPING FOR HEALTHCARE?
Why has it taken so long for the internet to transform
the healthcare shopping experience?
Current solutions need to evolve to be more user-friendly
Early adopters have never been the ones to solve the problem. Facebook
was not the first social network, and Google was not the first search engine
Timing is important, and being present and top of mind at the decision point
when choices are being made is essential
Privacy due to the stigma of being “sick” is holding us back. People are
unwilling to share their experiences due to the fear of how they will be
perceived as someone who is “sick”
SUNITA DESAI - HARVARD
DAVID VIVERO - AMINO
NOAH LANG - STRIDE HEALTH
SIVAKAMI SAMBASIVAM - GOODRX
WHY AREN’T WE SHOPPING FOR HEALTHCARE?
What is the underlying problem?
The health system is broken. It is a disconnected and fragmented experience
that requires innovation and a solution that puts the patient first. The end user,
the patient, needs a reliable and trustworthy way to navigate the experience
that is based on more than just a singular recommendation rooted in nothing
more than a one-off personal experience.
We are reaching a breaking point where deductibles are high enough
that people are beginning to realize they need a better shopping
experience when it comes to healthcare.
SUNITA DESAI - HARVARD
DAVID VIVERO - AMINO
NOAH LANG - STRIDE HEALTH
SIVAKAMI SAMBASIVAM - GOODRX
WHY AREN’T WE SHOPPING FOR HEALTHCARE?
What are the potential solutions?
Third-party services (Amino, Stride, GoodRx) are racing to fill the gaps
using learnings from earlier failures in the market and big data to help
build consumer confidence and help drive down costs
We must meet patients where they are by understanding the journey,
leveraging the physician as an advocate, and partnering with employers
at the time when decisions are being made
Quality matters in search when your audience is engaged. Understand the
patient and where they are on their journey to properly address their needs
We need to create an underlying infrastructure that connects these
fragmented systems into a larger singular system (ie, the Interstate)
SUNITA DESAI - HARVARD
DAVID VIVERO - AMINO
NOAH LANG - STRIDE HEALTH
SIVAKAMI SAMBASIVAM - GOODRX
WHY AREN’T WE SHOPPING FOR HEALTHCARE?
But what can WE do?
Pharmaceutical companies can help fill the gaps in the patient experience
as well by understanding the patient journey and providing relevant
information when needed
Help to connect people who get diagnosed to people and resources who
can guide them through the journey ahead
Work to reduce the stigma of “being sick” so that people will feel
comfortable sharing their experiences in healthcare and help guide others
Ultimately we need to keep the focus on the patient experience and start
with empathy, and have the patience to follow through in our partnership
SUNITA DESAI - HARVARD
DAVID VIVERO - AMINO
NOAH LANG - STRIDE HEALTH
SIVAKAMI SAMBASIVAM - GOODRX
THANK YOUTo continue the conversation,
Please reach out to: [email protected]