How to Make a Difference with Glen Tullman of Transcarent
Apr 6, 2022
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Glen Tullman, CEO of Transcarent, shares his insights on the future of healthcare, including the rise of self-insurance and the importance of unbiased information and easy access. He discusses the role of tech players like Apple and Amazon, predicts a consumer-directed healthcare system centered around the home, and emphasizes the goal of providing basic healthcare for everyone.
TransCarent aims to create an improved health and care experience that puts people back in charge of their care and provides alignment between consumers and the companies that employ them.
The entry of major brands like Walmart, Amazon, and CVS into the healthcare sector is expected to have a significant impact on transforming how healthcare is delivered.
Deep dives
What is TransCarent?
TransCarent is a new and different health and care experience company that aims to empower consumers with information, guidance, and access to better care, better outcomes, and more cost-effective decisions. It seeks to create an improved health and care experience that puts people back in charge of their care and provides alignment between consumers and the companies that employ them. The goal is to create an experience in healthcare that resembles the consumer-centric approach found in other industries.
The Rise of Self-Insurance
Self-insurance is on the rise, particularly among large and mid-size employers. Companies are finding that self-insuring their employees' healthcare needs can be more cost-effective than traditional commercial plans. TransCarent seeks to provide a better experience for employees and their families through self-insurance. By offering unbiased information, trusted guidance, and easy access to care, TransCarent aims to transform the way people approach their healthcare decisions and improve overall healthcare outcomes.
Partnerships with Major Brands in Healthcare
TransCarent recently announced a partnership with Walmart to serve as their go-to market solution for self-insured employers. This collaboration demonstrates the role of major brands like Walmart, Amazon, and CVS in shaping the future of healthcare. These companies are integrating healthcare services into their existing offerings, such as telehealth and prescription services, creating a convenient and accessible healthcare experience for consumers. The entry of these brands into the healthcare sector is expected to have a significant impact on transforming how healthcare is delivered.
The Impact of COVID-19 on Healthcare
COVID-19 has accelerated the adoption of digital healthcare solutions, including telehealth. It has also highlighted the need for a consumer-directed healthcare system that centers around the home and provides easily accessible care. The pandemic served as a catalyst for digitizing various industries, including healthcare, and demonstrated the effectiveness of digital solutions at scale. As a result, the future of healthcare is expected to involve increased care at home, telehealth services, and a greater focus on digital health solutions.
To build one successful company is a major achievement—particularly in an industry as complex as healthcare delivery. But Glen Tullman has done it time and time again. He digitized electronic prescriptions, led a hospital resource management company, and built the first at-scale digital health company to empower people with chronic conditions. He led his last company, Livongo, through the largest consumer digital health IPO in history. With Transcarent, he's back in the CEO seat, building a better healthcare experience for employees of self-insured companies. Glen shares why "telehealth" should just be called "health," why he'd rather be building a business than sleeping, and what role tech players like Apple and Amazon will have in the future of healthcare.
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