Pete McCabe

speaker

210 appearances 1 recordings 1 series first heard Dec 2021 last heard Dec 2021

Pete McCabe’s voice in public audio — every appearance, attributed to the second.

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McKinsey on Healthcare · How can healthcare unlock the power of data connectivity? · 15 Dec 2021 podcast

If you think about one of the biggest advancements in healthcare over the last hundred years, it's powering every health decision with data.

And when you're able to do that, first and foremost, you put an informed patient at the center of his or her care.

Secondly, you get to practice personalized health care.

If you just start with the basics that says, hey, when I walk into the hospital, does the doctor who's assessing me have my full data history?

Wouldn't that be great?

Wouldn't that be personalized?

So you really advance this idea of personalized health care.

Thirdly, what happens is you can dramatically advance the speed and lower the cost that it takes life science companies and therapeutic companies to develop new drugs and treatments.

You know, as a McKinsey study would say, 20%, 25% of U.S.

healthcare spend is waste.

That's about a trillion dollars, 50% to 75% of that.

waste can be eliminated with a better utilization of data.

You're talking $500 to $750 billion of cost out of the U.S.

healthcare system alone.

So this idea of fragmentation or solving fragmentation is really about enabling every health decision to be powered with data.

When you get into fragmentation, it's a daunting problem.

If you take a look at the US healthcare system, you've got

tens of thousands of different organizations sitting on thousands of different IT platforms with almost an infinite number of different standards and different privacy controls.

First, I'd say as in the US, it's not a single payer system.

And so you've got the forces of competition and entrepreneurship at work.

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