Ep 17 – UnHealthcare: A Manifesto for Health Assurance (Part I), with Dr. Stephen Klasko

What this episode covers

Dr. Stephen Klasko is the President and CEO of Thomas Jefferson University and Jefferson Health. His newest book, co-authored with venture-capitalist Hemant Teneja, is a manifesto that advocates for bringing consumerism, affordability, and rational economic behavior to the healthcare sector.UnHealthcare: A Manifesto for Health Assurance is a declaration to usher in a new age of digital of mobile consumerism in the healthcare industry and introduces the concept of “health assurance” – a gamechanger that would force a redesign of the system. His vision is for a consumer-centric, data-driven, cloud-based healthcare system designed to help us stay well: we would need as little “sick care” as possible. This episode explores the principles behind the manifesto and health assurance. Built on open technology standards, empathetic user design, and responsible AI, the vision for health assurance will only be realized through creative partnership between professionals in traditional healthcare and technology companies.  As these two worlds of healthcare and technology innovation merge, we can transform our fragmented, expensive, and inequitable healthcare system into one of improved health and decreased cost. Join us as we explore the role of health assurance in the race to value!   Bookmarks: 05:37 “Health care has not only escaped the consumer revolution --we’ve lost touch with what patients really need.” 06:12 Dr. Klasko discusses what he learned from Steve Jobs and how he “changed the world” in 3 years 08:00 Jefferson Health and the “new math” of innovation and strategic partnerships 08:55 Partnership with Silicon Valley entrepreneur Hemant Teneja 09:12 “Mass production and economies of scale is giving way to mass personalization at scale” 09:36 Livongo and how it “treats people with diabetes, not as patients, but as people who that want to thrive without diabetes getting in the way”. 10:00 “Costly sick care will give way to affordable, personalized, and preemptive care with genomic sensors and AI-based digital therapies.  That will be the true revolution in healthcare.” 10:40 Health Assurance as an emerging movement towards consumer-centric, data-driven healthcare 11:12 How the Presidential election cycle only seemed to focus on how we pay for the expensive, fragmented, and inequitable system – not how we fundamentally disrupt and transform it 13:12 Dr. Klasko tells the story of the future pandemic of October 2030 and how Health Assurance stopped it in its tracks 15:25 The “Amazon moment” of healthcare and how it redefines competition (future competitors are those who can bring health to home) 16:03 Dr. Klasko discusses JeffConnect (the telemedicine platform used by Jefferson Health) 16:37 Current business models for providers, insurance companies, and pharma are dead! 17:37 The 4th Industrial Revolution of AI and its impact on the future of care delivery 18:43 The use of wearables in cardiology care 19:53 Moving away from the current sick care model and making the health system easier 20:25 “The secret sauce at Jefferson Health is that getting to people while they are people, and not patients.” 21:24 Consumer segmentation needed for patient-centeredness 22:32 The real revolution will take place when patients reach the “mad as hell, not going to take it anymore” moment 25:58 The consumer mistrust in FAANG (Facebook, Amazon, Apple, Netflix and Google) to manage personal health data 26:23 Dr. Klasko provides his take on Haven Healthcare (the JV between Amazon, Berkshire Hathaway and JPMorgan Chase) 27:07 Healthcare disruption by startups should not be about moving...