Patrick Finn on resilience, healthcare’s mission, and AI’s promise
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If you even start with the first piece of this on really understanding the mission, understanding how are we improving access? How are we improving affordability? How are we improving quality?
Welcome. You're listening to the McKinsey on Healthcare podcast. If you're looking for insights into the issues that matter most to healthcare right now, you're in the right place. Explore wide-ranging conversations with leaders, changemakers, innovators, and professionals who are at the heart of healthcare today. I'm Corita Anderson, Senior Editor for Healthcare at McKinsey based in New York. Let's get started. Today, I'm joined by Patrick Finn, a senior partner in McKinsey's Boston office. Patrick is the global co-leader and North American leader of McKinsey's healthcare practice. He has served clients for more than 20 years, counseling healthcare leaders on strategic planning, performance improvement, and building new capabilities.
Patrick, nice to have you here today.
Thank you for having me.
So, Patrick, you lead McKinsey's healthcare industry practice. So, of course, we're going to spend today talking about the industry broadly. But before I start to pick your brain on the trends and challenges that the different sectors are facing, I want to start with a bit of a broader question about how to fix the problems that still exist in the U.S. healthcare system. You know, as we all know, the public discussion was recently reignited about the angst that we as patients can face when we try to get healthcare. So what does the industry need to do to address those concerns and really, in an honest way, counter that negative opinion?
Yeah. Yeah. Look, I think we all just, as a baseline, need to do better for our patients and plan members, et cetera. I mean, there's a lot of great things in our health care system, right? The innovation that happens, the ability to really make people better is phenomenal. But there's a few things that I think we've really got to push on to make better. Some of it we started, some of it we've got to expand on. So one is just how we think about health care. We historically do a great job of treating chronic conditions, addressing acute issues. When we've started to expand into mental health, we've got to do much better in integrating the care across physical and mental health. We've really got to be thinking about all those other factors, the food, the wellness, all those pieces.
How do we bring that together to help make our country healthier? Second, we do have to make it more personal. We always talk about health care being local. We talk about a local market, the hospitals in that market, the particular insurance that is available in that market. But it's also, at the end of the day, it gets down to a particular person who's trying to get better. And so how do we take ideas and care pathways and population management principles down to really be in the context of an individual and serve them the way they need to be served? And then finally, look, we have to get more efficient. We've long talked about the administrative waste in the system, the unnecessary things that happen in the system.
We have to figure out how to make real progress on that because the affordability challenge remains. I think there's all those things that we need to continue to push on. I think as we sit here, we say, look, there's some markers that say we may be at a time of real change. The availability of data we have, the kind of rise of advanced analytics. I think it's an exciting time for us to address that.
Yeah. You know, putting patients first is certainly an important North Star. And doctors take an oath to do no harm. But yet we do have this recurring conversation about the need to make health care more affordable, less complex, more personalized, all the things you mentioned. So what's different now that you think, you know, can really move this necessity of patient centricity forward in a meaningful way.
I think what you have to believe is that the investments that we all made as an industry over the last 15 years in really digitizing a lot of what we do, whether that be clinical data or claims data, coupled with, I mean, just the amazing innovations we're seeing in AI and the ability to
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