AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Health Technology Podcast
Actuarial Science Meets Healthcare Innovation with Frank Cheung
Sep 23, 2024
Frank Cheung, Co-Founder and CEO of Accorded, has a rich background in risk management and value-based care, having worked with major healthcare organizations. He discusses the essential role of actuarial science in value-based models, sharing insights from his journey in founding Accorded. Frank also addresses challenges startups face in healthcare innovation, particularly in navigating insurance coverage and claims data. His advice highlights the importance of marrying clinical benefits with economic rationale to drive successful healthcare solutions.
32:40
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Actuaries play a pivotal role in healthcare by modeling financial outcomes and managing risks to ensure fair compensation structures.
- The transition to value-based care blurs the lines between payers and providers, increasing the demand for actuarial capabilities in managing risks and costs.
Deep dives
The Role of Actuaries in Healthcare
Actuaries play a crucial role in the healthcare system, primarily functioning as data scientists and financial analysts within the insurance framework. Their responsibilities include modeling financial outcomes, pricing, and managing risk associated with healthcare expenditures. By analyzing claims data alongside other relevant information, actuaries help ensure that insurers accurately assess the consumption of healthcare services, thereby facilitating fair compensation structures between payers and providers. This oversight is essential to maintain a balanced system where the money flowing in corresponds with the expenditures going out, ultimately helping organizations make informed business decisions.
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode