Cowen Insights | Transforming Care With Transcarent’s Glen Tullman
Apr 25, 2022
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Glen Tullman, Chairman and CEO of Transcarent, discusses transforming the healthcare system with technology and direct provider connections. They explore the challenges faced by Haven and the missing elements in the healthcare system. Transcarent's comprehensive model focuses on everyday care services, shifting care to the home, and second opinions. They also highlight their partnership with Walmart for accessible prescription services and their mission to empower health consumers.
Leveraging technology and direct connections with providers can lead to better quality and lower cost healthcare.
TransCarent aims to provide transparent information, unbiased guidance, and easy access to top-quality care while improving affordability and accessibility.
Deep dives
The broken healthcare system and the need for change
Glenn Talman, Chairman and CEO of TransCaren, highlights the problems with the current healthcare system, including rising costs, lack of improvement in quality of care, and dissatisfaction among consumers, employers, and providers. He emphasizes the need to leverage technology and direct connections with providers to deliver better quality and lower cost care.
The failure of previous attempts to address the healthcare system
Glenn discusses how previous initiatives, such as Haven, a joint venture between J.P. Morgan, Amazon, and Berkshire Hathaway, failed to bring about meaningful change in the healthcare system due to lack of alignment between payers, PBMs, and employers, as well as different objectives and organizational structures within the partnership.
Key ingredients missing from the current system
Glenn identifies transparent information, unbiased trusted guidance, and access to care as the key ingredients missing from the current healthcare system. He explains how TransCaren aims to provide clear information about high-quality providers, unbiased guidance on appropriate care, and easy access to top-quality facilities, while eliminating copays and coinsurance to improve affordability and accessibility.
TransCaren's model and differentiation
Glenn explains TransCaren's model, which offers a bundle of services including everyday care, prescriptions, care at home, surgery, and complex care. The services are available 24/7 through a mobile app or phone call, and TransCaren operates at full risk, only getting paid if they deliver quality outcomes. Glenn highlights the importance of technology in delivering seamless and efficient healthcare experiences, comparing it to successful models in other industries like Uber and Airbnb.
In this episode, we look at how the U.S. health care system struggles to deliver better outcomes, while watching spending continue to spiral upwards. Could leveraging technology and connecting directly to providers to deliver high-quality but lower-cost care be a better way? Joining Charles Rhyee to discuss the topic is Glen Tullman, Chairman and CEO of Transcarent, who is building a new, different, and better health and care experience company for employees of self-insured employers and their families. Transcarent looks to empower consumers with the kind of information, guidance and access that leads to better care, better outcomes, and more cost-effective decisions.
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