Glen Tullman on the power of big retail-Healthcare Blog
Author: JESSICA DaMASSA, WTF Health
A few days after announcing the deal with Walmart, Glen Tullman, Transcarent’s executive chairman and CEO, met again (face to face!) to continue our conversation. For details of the transaction, please refer to our last interview; as to what the interruption of this transaction to healthcare payers and the eventual rise of healthcare consumers means, please listen and pay attention immediately.
Transcarent’s storyline began to take shape. Their conflict is related to the “big middle” of healthcare, where drugs are labeled, care requires pre-authorization, and documents labeled “This is not a bill” are a ridiculous artifact of the payer-first healthcare experience.
“The system behind our health care today operates exactly as it was designed: to serve the payer. We want to redesign it,” Glenn said. “It’s not,’How do we get through the difficulties better?’ That will be navigation.’How can we completely solve this problem and redesign the experience?'”
Glen told us about Walmart and Amazon’s real need to help take on the leverage of non-innovative payers, what role Transcarent plays in all of this, and how startups like GoodRx, Ro, and Capsule that have successfully challenged PBM prove the payment model Innovation is possible.
And, as we wait for the next big deal from the “Best Dealer in Healthcare”, we already have some foreshadowing: a quick mention of Oscar Health, which is registered as interesting on my radar, and how Transcarent will expand Some very specific details of its next product, focusing on MSK, cancer care, behavioral health (especially adolescents), and bringing more “humanized voices” to their members to seek advice.