Personalizing Healthcare to Reduce Cost and Improve Outcomes

"Will personalized care actually get us there? That's a necessary, but not a sufficient condition. At Transcarent we are going around the existing system, because we don't believe you can go through the existing system and get the outcomes that we all want." -- Glen Tullman, Transcarent CEO at the 2022 Advent International Global Meeting with Dr. Sachin Jain, President & CEO, SCAN Group and Health Plan, Karen Nelson, Chief Scientific Officer, Thermo Fisher Scientific, and Carmine Petrone, Managing Director, Advent International discussed transforming and understanding the future of health care and how Transcarent has re-engineered the current system to create a new, better and different health and care experience unlike anything we have ever seen.

We are at a crisis moment when it comes to our healthcare delivery system. The population gets progressively sicker based on personal choices/indulgences, environmental changes, while the system pays ever more to treat the rising acuity. Across populations, we have never spent more per capita or as a % of GDP with declining life expectancy and uneven outcomes and access. We are highly dependent on highly skilled labor and inefficient diagnostic and delivery systems to determine exactly what patients need. The system creates real doubt and there is a lack of trust, which further taxes the outcome. All of this comes at not only an enormous fiscal cost, but an emotional and psychological one as well: how can we collectively move forward individually and as a society if governments are burdened by overwhelming care costs of a chronically ill population and its citizens are making life and career choices that underweight skills development and entrepreneurship because they are more focused on what happens if they were to get sick?