SXSW 2017 Takeaways: Why Aren't We Shopping for Healthcare

Takeaways From SXSW 2017:

Why Aren’t We Shopping for Healthcare

Austin Wei

March 2017

OCHWW @ SXSW

WHY AREN’T WE SHOPPING FOR HEALTHCARE?

What is the current landscape of healthcare?

Healthcare is the largest personal finance issue currently affecting this country

An expensive bill can be, in some instances, as devastating as a bad diagnosis

Healthcare is the largest type of search on Google

No. 1 reason for lack of adherence is cost

Healthcare is something we spend most on in our lifetime and can be

in some instances more than our mortgage

You make these once-in-a-lifetime purchases and will never have to make

them again (eg, ACL reconstruction) so you are always a first-time buyer

Without proper guidance and oversight from the government, people are

at a loss as to how to guide their decision making

SUNITA DESAI - HARVARD

DAVID VIVERO - AMINO

NOAH LANG - STRIDE HEALTH

SIVAKAMI SAMBASIVAM - GOODRX


Why has it taken so long for the internet to transform

the healthcare shopping experience?

Current solutions need to evolve to be more user-friendly

Early adopters have never been the ones to solve the problem. Facebook

was not the first social network, and Google was not the first search engine

Timing is important, and being present and top of mind at the decision point

when choices are being made is essential

Privacy due to the stigma of being “sick” is holding us back. People are

unwilling to share their experiences due to the fear of how they will be

perceived as someone who is “sick”






What is the underlying problem?

The health system is broken. It is a disconnected and fragmented experience

that requires innovation and a solution that puts the patient first. The end user,

the patient, needs a reliable and trustworthy way to navigate the experience

that is based on more than just a singular recommendation rooted in nothing

more than a one-off personal experience.

We are reaching a breaking point where deductibles are high enough

that people are beginning to realize they need a better shopping

experience when it comes to healthcare.






What are the potential solutions?

Third-party services (Amino, Stride, GoodRx) are racing to fill the gaps

using learnings from earlier failures in the market and big data to help

build consumer confidence and help drive down costs

We must meet patients where they are by understanding the journey,

leveraging the physician as an advocate, and partnering with employers

at the time when decisions are being made

Quality matters in search when your audience is engaged. Understand the

patient and where they are on their journey to properly address their needs

We need to create an underlying infrastructure that connects these

fragmented systems into a larger singular system (ie, the Interstate)






But what can WE do?

Pharmaceutical companies can help fill the gaps in the patient experience

as well by understanding the patient journey and providing relevant

information when needed

Help to connect people who get diagnosed to people and resources who

can guide them through the journey ahead

Work to reduce the stigma of “being sick” so that people will feel

comfortable sharing their experiences in healthcare and help guide others

Ultimately we need to keep the focus on the patient experience and start

with empathy, and have the patience to follow through in our partnership





THANK YOUTo continue the conversation,

Please reach out to: [email protected]

mailto:[email protected]

SXSW 2017 Takeaways: Why Aren't We Shopping for Healthcare

Healthcare

Transcript of SXSW 2017 Takeaways: Why Aren't We Shopping for Healthcare