The Strategy Catalyst Dispatch

This week's episode covers five big ideas from the Spring CSO Forum, CVS's new pharmacy-only stores, Amazon and Walmart's competing GLP-1 programs, Baylor Scott & White's health plan exit, and who's in and out of the CMS ACCESS model. 

This episode recaps three key themes from the 2026 Strategy Catalyst Summit: what it takes to move service line rationalization from theory to action, what a live scenario planning exercise revealed about strategic preparedness, and who should be owning the AI agenda. Watch our highlight reel from the summit here. And for more on the content referenced in this episode, read our analysis in The Strategist here and check out our Stress Test Scenario Planning Guide here.  

This week's episode covers the finalized Medicare Advantage rate increase, new research on AI scribes, Anthropic's unreleased Claude Mythos model and cybersecurity implications, and MedPAC's findings on Medicare Advantage margins. 

This week's episode covers the Sutter Health and Allina Health merger announcement, CMS administrator Mehmet Oz's comments on AI agents for Medicare, key insights from the Strategy Catalyst Summit, and THMA's executive priorities survey results.  

Dr. Peter Newcomer, SVP and Chief Operating Officer at UW Health, walks us through how two organizations that used to compete built a financially aligned, strategically coordinated partnership — without merging. We dig into how the JOA with UnityPoint-Meriter helped UW Health address capacity constraints, delay a major capital build by years, and create a shared patient flow system. 

This week's episode covers the American Medical Association's new maternity payment codes, our new CSO Advisory Council, health system access strategy survey results, and insights on consumer segmentation. 

In this episode, we share highlights from a recent Strategy Catalyst webinar where Liz Jones, Research Director, walked strategy leaders through three disruptors reshaping service lines in 2026 and tested a few intentionally provocative predictions. We cover why payvider M&A slowdowns don't mean reduced threat, what the PE retreat from care delivery means for acquisition timing, and why distributors—the disruptor that worried this group least—might deserve more attention. Want to hear the full discussion, including the polls and live Q&A? Strategy Catalyst members can access the complete webinar recording on our website here. And for a deeper dive on the Cencora-One Oncology deal referenced in this episode, read our analysis in The Strategist here and check out our disruptor response guide here. 

This week's episode covers Humana's acquisition of MaxHealth, the Trump administration's antitrust appeal, the Supreme Court's tariff ruling, CMS's new ACCESS model rates, and CVS's new GLP-1 drug access service.  

This week's episode covers the end of the proposed 340B rebate pilot, healthcare earnings highlights from HCA, UnitedHealth, and Amazon, the MA rate announcement shaking up payer stocks, ChenMed's new stance on GLP-1s, and Sword Health's acquisition of Kaia Health. 

 This week's episode covers key takeaways from the JP Morgan Healthcare Conference, the bipartisan healthcare reform package in Congress, insights from our latest Strategy Catalyst webinar on payviders, PE, and distributors, and Zarminali Pediatrics' expansion into new markets. 

 Women in midlife are the highest healthcare spenders on the managed care side and women use healthcare more than men, even when you take obstetrics out. In this episode, Kathleen McHugh, AVP of Corporate Strategy, and Jennifer Todd, VP of the Women's Service Line at Memorial Hermann walk us through the business case for investing in women's health, why they partnered with MIDI Health to address the gap in menopause care rather than build in-house, and the outcomes they've seen two years in, including record employee benefit adoption and a steady flow of referrals back to Memorial Hermann for specialty and in-person care. 

This week's episode explores OpenAI's new healthcare-focused AI products, Cencora's new majority stake in OneOncology, the 340B rebate pilot ruling, and our predictions for 2026.

In this episode of The Strategy Catalyst Dispatch, we unpack why expanding a physician workforce alone can't fully resolve access challenges and how Inova Health System has targeted the problem through a coordinated access-and-flow strategy. Michelle Vassallo, VP of Operations, Clinical Enterprise, walks us through the systemwide standards, centralized infrastructure, and unified referral and transfer processes that allow Inova to unlock “virtual capacity” and move patients to the right place, at the right time, with the right resources. To learn more of Strategy Catalyst's access work and in-depth case studies, click here: https://hmacademy.com/insights/strategy-catalyst/care-delivery/access-as-a-strategic-product-redefining-how-health-systems-connect-people

This week's edition recaps our favorite intel and insights from the Fall 2025 CSO Forum held in San Diego. We also take a look at the new ACCESS model unveiled by CMS with outcomes-based payments.

In this episode of The Strategy Catalyst Dispatch, we explore a commonly cited theme in strategic plans that rarely gets commensurate investment: culture transformation. Matt Terry, Chief Strategy Officer at Wellstar Health System, shares how Wellstar has positioned culture as a strategic pillar to make it visible, measurable, and fundable alongside other enterprise priorities. Building on Strategy Catalyst’s Strategic Plan Compendium we examine: How leaders are balancing culture transformation against near-term workforce needs Which initiatives are proving most effective at reducing turnover and showing real ROI How pipeline development and partnerships are being used not just to fill roles, but to reinforce culture and engagement Which metrics executives and boards find most credible for tracking cultural changeTo read the full Strategic Plan Compendium, click here: https://hmacademy.com/insights/strategy-catalyst/workforce/strategic-plan-compendium-learning-from-peer-health-system-strategic-plans 

This week's edition looks at Intermountain Health's pediatric growth strategy, Ballad Health's lawsuit against UnitedHealth, AI highlights from the HLTH 2025 conference, and a recent Senate HELP Committee hearing on 340B reform.

This week's episode covers the shifting landscape for CMS innovation payment models, the challenges that the government shutdown poses for AMCs, Amazon Pharmacy's new prescription drug kiosks, and the Hospital for Special Surgeries partnership with General Atlantic to establish a nationwide ASC chain.

 This week’s episode covers the ongoing federal government shutdown and its implications for health systems, including lapses in telehealth and hospital-at-home flexibilities, paused Medicaid payments, and the potential loss of coverage for millions if ACA subsidies expire. It also explores major insurers’ contraction in Medicare Advantage markets, Evolent Health’s sale of its ACO to Privia Health, and new visa fees that could intensify physician shortages by restricting international medical hiring. 

CFOs and COOs are navigating one of the most turbulent years in recent memory since 2020. From historic Medicaid cuts to escalating battles with payers, health system leaders are bracing for financial, political, and reputational pressures that demand new strategies.In this episode of The Dispatch, we unpack the key themes from The Health Management Academy's 2025 CFO and COO forums:The fallout of the “One Big Beautiful Bill” and what comes next on site neutrality, 340B, and nonprofit status.Why payer relations have become an outright arms race and how AI is reshaping denials management.Workforce challenges: rising labor costs, unionization, and the push to build new pipelines.Where AI and automation are showing real ROI, from ambient listening to autonomous coding.

As the Trump administration continues its tariff agenda, health systems are grappling with a new wave of disruption, spanning medical goods, supplies, capital infrastructure, and the pharmaceutical pipeline. In this episode of The Dispatch, hear from Jerome Pagani, Executive Director of Strategy Catalyst, who breaks down what this means for health systems, along with supply chain and procurement experts assessing the front-line impacts and how systems are recalibrating. From vendor negotiations and procurement triage to capital planning and pharmaceutical risk, this episode is a must-listen for strategy leaders confronting pricing volatility and policy unpredictability. Leaders featured in this episode: Ginger Sharp, VP and Chief Supply Chain Officer, Legacy Health Harold Dillow, VP of Supply Chain Management, TriHealth James Bouchard, Partner, LogicSource *This podcast was recorded on June 27th. Recent tariffs developments have included: 200% Tariffs Threatened on Pharmaceuticals with a 12–18 month grace period 50% Tariff on Copper Takes Effect August 1 30% Tariffs on EU and Mexico Set for August 1 25-35% Tariffs on APIs from India and China Key Takeaways: Product origin opacity and hidden fees are complicating procurement. Experts described how vendors are unable or unwilling to identify where products are manufactured, sometimes offering blended tariff surcharges. Some suppliers are embedding tariff-related costs in invoices without transparency as general price increases, while some automated EDI systems are missing new charges. Centralized monitoring and concierge triage are helping manage uncertainty. Legacy Health created a supply chain help desk to track vendor notifications, vet price increases, and escalate questionable charges. Leveraging GPO protections is essential to cost containment. Stockpiling can be useful but must be targeted. TriHealth emphasized that any inventory build-up must be aligned with real demand. Buying excess or accepting bulk deals without volume alignment can backfire, especially as the future of tariff policy remains uncertain. Tougher negotiation and vendor consolidation are essential strategies, and smart supplier vetting is a must. Health systems can gain from playing hardball and rejecting tariff-related hikes outright or delaying them to wait out policy volatility. Some systems are consolidating spend with key suppliers to gain more leverage and greater absorption of tariff costs. For alternative vendors, health systems should examine supplier history, delivery reliability, and ability to meet clinical standards. Flexible, short-term contracts are preferred to maintain agility as policy continues to shift. Capital rescoping and domestic sourcing are emerging tactics Leaders are reassessing building specs to reduce reliance on tariff-exposed materials. When possible, they are exploring alternative materials and localized sourcing strategies to mitigate cost spikes in construction projects. Drug tariffs could deepen shortages and cause higher prices, particularly for generics. With 80% of U.S. generics finished abroad and APIs sourced globally, new duties on inputs from China and India pose significant disruption risk. Experts warn of quality degradation, rising prices, and limited reshoring feasibility. 

This episode covers the Trump administration's rollout of reciprocal tariffs on 60 trading partners, followed by a 90-day pause after market turmoil, with health systems anticipating significant supply cost increases despite pharmaceuticals being initially exempted. The episode also discusses insights from a health strategy leadership forum, CMS's 5.1% Medicare Advantage rate increase for 2026, and UnitedHealth Group shareholders dropping a proposal for annual reporting on prior authorization practices.

Health systems are increasingly turning to virtual second opinions (VSOs) as a strategic lever to extend global reach, differentiate in competitive markets, and unlock long-term value. In this episode of The Strategy Catalyst Dispatch, we speak with Jarrett Fowler, Senior Director of Strategic and International Initiatives at NCHL and leader of USCIPP, a consortium supporting over 60 U.S. hospitals with international patient programs.Anika Rasheed, Senior Analyst, and Jerome Pagani, Executive Director of Strategy Catalyst, unpack the insights Jarrett shares on the rise of international and domestic VSO programs. From identifying high-opportunity regions and specialties to navigating legal barriers and building scalable infrastructure, this episode offers a roadmap for CSOs evaluating where VSOs fit into their enterprise strategy. The conversation also explores emerging best practices for physician engagement, partnerships, and aligning VSO models with system strengths.Key TakeawaysHigh-Growth Global Markets for Virtual Second Opinions: Health systems are seeing demand from regions including the UAE, Saudi Arabia, China, and Latin America, where patients are mobile, well-resourced, and actively seeking U.S.-based specialty care. Specialties with the strongest international appeal include oncology, pediatrics, and neurology, with virtual second opinions often serving as the entry point for long-term referral relationships and brand recognition abroad.Legal and Regulatory Considerations for International Expansion: Successful programs address key compliance concerns early—such as cross-border data sharing, physician licensure, and patient privacy. Partnering with a local treating physician not only helps health systems navigate legal constraints but also supports clinical continuity for patients who return home after receiving care in the U.S.Building Scalable VSO Programs Through Strategic Partnerships: Collaborations with in-country providers, embassies, or ministries of health reduce regulatory risk and improve operational efficiency. USCIPP supports systems in forming these relationships and provides access to legal analyses and benchmarking to guide safe and strategic expansion.Domestic VSO Programs: Physician Buy-In and Infrastructure Readiness: Health systems are designing VSO programs around existing clinical strengths, using strategies like asynchronous consults, subspecialty case matching, and identifying “VSO champions” to increase physician participation. Programs must also manage licensure complexities and reimbursement uncertainty—most systems still operate with self-pay or employer-sponsored models, though payer interest is growing.Rethinking ROI—VSOs as a Brand and Access Strategy: While in-person conversion rates vary, many systems view VSOs as a long-term investment in brand equity, access, and global reputation. For CSOs, success isn’t just about direct revenue—it’s about market positioning, clinical outreach, and strategic alignment with enterprise goals.

This episode covers the merger between hospital-at-home operators Dispatch Health and Medically Home, which combines health system and payer-oriented products but raises questions about the combined company's loyalties and financial sustainability. The episode also discusses Stanford Health's partnership with midwife provider ULA to expand into Connecticut, private equity consolidation in intellectual and developmental disability services, and OptumRx's shift to cost-based pharmacy reimbursement as a potential PR move amid regulatory pressure.

This episode covers insights from the Strategy Catalyst Summit (Feb 2025), covering direct-to-employer healthcare partnerships, Washington policy shifts under Trump, cybersecurity threats, and urgent care strategies for improving payer mix. The episode also discusses Novo Nordisk and Eli Lilly's direct-to-consumer GLP-1 delivery platforms, conservative estimates of $1.1 trillion in Medicaid improper payments over the past decade, and UnitedHealth Group's legal victory against DOJ allegations of $2 billion in Medicare Advantage overpayments.

This episode covers the hospital-at-home market through interviews with leaders from Mass General Brigham, Mayo Clinic, Advocate Health, and Mount Sinai, highlighting how programs are diversifying revenue beyond Medicare and finding strategic value despite not reaching financial breakeven. The episode also covers Walgreens' potential private equity deal with Sycamore Partners, Teladoc's stock drop amid AI-generated therapy allegations, and FTC Chair Andrew Ferguson's decision to maintain stricter merger guidelines from the Biden era.

This episode covers breaking news about NIH's steep cuts to indirect cost rates for universities and medical centers, potentially creating $100+ million shortfalls for major research institutions, though a federal court has temporarily blocked the cuts nationwide. The episode also discusses Trump's 46 executive orders affecting healthcare through immigration enforcement at hospitals, visa restrictions impacting foreign nurse recruitment, and tariff proposals, plus General Catalyst's expansion beyond VC into healthcare AI consulting and Cigna's new initiative linking executive pay to customer satisfaction measures.

This episode covers key insights from the J.P. Morgan Healthcare Conference, where non-profit health systems focused on operational efficiency, strategic growth in pediatrics and outpatient care, and AI investments, while enhanced security reflected the impact of the UnitedHealthcare CEO shooting. The episode also discusses rising bankruptcies among PE-owned healthcare companies, semaglutide being selected for Medicare drug price negotiations under the Trump administration, and new DEA rules that could challenge virtual-only telehealth models while benefiting hybrid care providers.

This episode covers insights from the 2024 Fall CFO Forum, where 41 health system CFOs discussed priorities now closely aligned with strategy leaders, including workforce strengthening, care delivery efficiencies, and improved access, along with debates over hard versus soft ROI measurements for AI deployments. The episode also covers Amazon One Medical facing a wrongful death lawsuit that could impact consumer perceptions of their healthcare brand, and includes 2025 healthcare predictions from industry leaders about increased M&A activity, rising healthcare misinformation challenges, and growth in tech-enabled benefits platforms.

This episode covers breaking news about Walgreens reportedly in talks to sell itself to private equity firm Sycamore Partners, which could provide needed cash but also create financial pressures leading to potential bankruptcy. The episode also discusses the Biden administration's proposed rule expanding Medicare and Medicaid coverage for GLP-1 weight loss drugs to 7.4 million additional beneficiaries at a $40 billion cost over 10 years, Trump's emerging healthcare team including RFK Jr. and Dr. Mehmet Oz, and Bain & Company's prediction that non-traditional players could still capture 30% of the primary care market by 2030 despite retail health setbacks.

Chief Physician Executives (CPEs) are uniquely positioned to bridge clinical care and strategic goals. In our latest Heard Around the C-Suite episode, we highlight insights from The Health Management Academy’s Fall 2024 CPE Forum, where CPEs shared their approaches to technology adoption, innovative workforce models, cybersecurity, and leadership development. This episode brings strategy executives into the room with CPEs, equipping them with practical insights to enhance collaboration with clinical leaders, align organizational goals, and implement solutions that drive both financial and clinical ROI.Join Jerome Pagani, Executive Director of Strategy Catalyst, and Anika Rasheed, Strategy Catalyst Analyst, as they unpack key themes from the forum. The episode also includes clips from CPE Forum participants as they reflect on the innovations, strategies, and solutions discussed across the sessions.Key TakeawaysCollaborative Implementation Improves Tech Adoption: CPEs emphasized the importance of engaging clinical leaders early in technology planning to ensure new tools align with workflows and improve patient outcomes. Solutions are more likely to succeed when clinicians are treated as collaborators, not just end-users.Workforce Innovation Drives Retention: Programs like Corewell Health’s gig economy-style app can reduce clinician burnout by offloading non-clinical tasks, leading to significant time savings and higher retention rates. Other programs are helping clinicians work at the top of their licenses with greater flexibility while addressing staffing shortages and equity challenges.Cyber Attacks are Threats to Care Delivery: Treating cyberattacks as operational disasters, not just IT issues, is critical for maintaining care continuity. Building resilience must be a strategic priority for health systems.Beyond the Clinical: The CPE as a Coalition Builder: Balancing clinical practice with strategic responsibilities helps CPEs maintain trust and credibility, while succession planning and leadership development ensure long-term success.

This episode covers the CSO Forum in Phoenix, where health system executives discussed revenue diversification and capital constraints, with key insights on prioritizing strategic initiatives and segmented care models. The episode also covers Forward's sudden shutdown despite raising $100 million due to its unsustainable $149 monthly subscription model, and the DOJ's lawsuit blocking UnitedHealth Group's $3.3 billion Amedisys acquisition over antitrust concerns.

In today’s rapidly evolving healthcare landscape, health system CEOs have dozens of priorities on their plate—often simultaneously. While strategy leaders often work closely with their own CEOs, we wanted to bring you in the room to hear what CEOs from around the country are talking about and how they are grappling with their top priorities. Our inaugural audio episode of Heard Around the C-Suite dives into these challenges, recapping key insights from recent CEO discussions at The Health Management Academy’s CEO Forum and Horizon 2030 CEO Summit.Listen in as Jerome Pagani, Executive Director of Strategy Catalyst, and Anika Rasheed, Strategy Catalyst Analyst, break down key themes from conversations with our resident experts and event attendees Robin Brand, Vice President of Member Insights, and Rebecca Akabas, Senior Director of Member Development.Key TakeawaysEpic and Innovation Constraints: CEOs recognize Epic’s importance but also voice frustration over the slow pace of updates, which limits agility. CEOs are exploring ways to adapt without overburdening their teams or compromising patient care by finding solutions that can be easily integrated and show immediate financial returns.AI’s Impact on Workforce Efficiency and Care Delivery Gaps: AI applications, like those demonstrated by Hippocratic AI, show promise in managing routine tasks, freeing clinical staff for more complex patient care. Still, there’s recognition that the human touch remains important.Value-Based Care and Physician Compensation Models: While some health systems are advancing in value-based care, others remain heavily tied to fee-for-service models. Leaders are continuing to discuss how to realign physician incentives in either model to drive meaningful change.Addressing Burnout with Technology: CEOs are focused on solutions that deliver immediate ROI without further straining already exhausted teams. The focus is on “plug-and-play” tools that integrate seamlessly into existing workflows.Learning from Consumer-Driven Industries: Health systems can gain valuable insights from consumer-driven sectors. Leaders at WellSpan and CLEAR demonstrated how establishing specialized teams and building adaptable platforms enable health systems to manage risks, drive innovation, and scale successful solutions organization-wide.

This episode covers breaking news about Republican gains in recent elections potentially giving the GOP unified federal government control, which could impact healthcare policy on site-neutral payments, ACA reform, and public health initiatives. The episode also discusses Elevance Health's $2.7 billion acquisition of home health company CareBridge, the Sanford Health and Marshfield Clinic merger creating a $10+ billion system, and insights from the Health 2024 conference including PBM business model criticism and new AI standardization efforts.

This episode features an interview with Cone Health CSO Chris Cornue about the system's decision to join Risant Health, driven by their long-term shift into value-based care and their pluralistic physician model that gained buy-in from both employed and affiliated providers across 14 specialties. The episode also covers resumed merger talks between Humana and Cigna that could create the second-largest payer, declining CMS Medicare Advantage star ratings affecting 62% of beneficiaries, and retail pharmacy struggles including CVS CEO Karen Lynch stepping down and Walgreens closing 1,200 stores while facing massive healthcare services losses.

This episode covers CVS's board conducting a strategic review and considering breaking up the company by separating its profitable insurance business from struggling retail pharmacy operations, potentially spinning off Oak Street with Aetna. The episode also discusses Mount Sinai's partnership with Noom's weight loss app for patient referrals, Dana-Farber's new pediatric cancer consortium focused on health equity interventions, FDA ending the shortage designation for Eli Lilly's GLP-1 drug which restricts compounding pharmacies, and a CMS study showing hospital-at-home programs were safe with lower mortality but higher readmissions.