WEBVTT 1 00:00:00.300 --> 00:00:02.340 The development of the $10 trillion 2 00:00:02.340 --> 00:00:06.210 modern health care sector is a remarkable human achievement. 3 00:00:06.210 --> 00:00:08.760 Scientific breakthroughs have allowed us to prevent, 4 00:00:08.760 --> 00:00:11.700 treat, and cure many diseases and conditions. 5 00:00:11.700 --> 00:00:14.010 As a result, life expectancy today 6 00:00:14.010 --> 00:00:16.980 is double what it was 100 years ago. 7 00:00:16.980 --> 00:00:20.460 But three crises threatened to undermine further progress. 8 00:00:20.460 --> 00:00:22.680 First, there is the core crisis, 9 00:00:22.680 --> 00:00:24.570 the crisis of value. 10 00:00:24.570 --> 00:00:25.890 There is a growing disconnect 11 00:00:25.890 --> 00:00:27.630 between the money spent on health care 12 00:00:27.630 --> 00:00:30.330 and the health outcomes delivered to patients. 13 00:00:30.330 --> 00:00:34.080 20 to 40% of what we spend globally is wasted. 14 00:00:34.080 --> 00:00:35.700 Although many aspects of health care 15 00:00:35.700 --> 00:00:38.130 are measured for the sake of driving improvements, 16 00:00:38.130 --> 00:00:40.680 typically only about 10% of those measures 17 00:00:40.680 --> 00:00:43.200 are outcomes that matter to patients. 18 00:00:43.200 --> 00:00:45.840 Second, there is a crisis of evidence, 19 00:00:45.840 --> 00:00:49.350 the widening gap between research and clinical practice. 20 00:00:49.350 --> 00:00:52.350 Despite the exponential increase in medical knowledge 21 00:00:52.350 --> 00:00:55.020 a remarkably small portion of our clinical guidelines 22 00:00:55.020 --> 00:00:57.243 are based on strong scientific evidence. 23 00:00:58.140 --> 00:01:00.390 The value and evidence crises are contributing 24 00:01:00.390 --> 00:01:03.213 to a third crisis, a crisis of purpose. 25 00:01:04.050 --> 00:01:05.670 Because of rising cost pressures 26 00:01:05.670 --> 00:01:07.890 and more focus on production volumes 27 00:01:07.890 --> 00:01:09.270 there is an alarming disconnect 28 00:01:09.270 --> 00:01:11.970 between people's reasons for working in health care 29 00:01:11.970 --> 00:01:14.250 and their day-to-day experience. 30 00:01:14.250 --> 00:01:16.470 This disconnect has led to stress and burnout 31 00:01:16.470 --> 00:01:18.270 among health care workers everywhere. 32 00:01:19.530 --> 00:01:21.810 How do we solve these three crises? 33 00:01:21.810 --> 00:01:23.910 By reorienting the world's health systems 34 00:01:23.910 --> 00:01:26.610 around the value delivered to patients. 35 00:01:26.610 --> 00:01:29.077 This is the subject of BCG's new book, 36 00:01:29.077 --> 00:01:31.080 "The Patient Priority." 37 00:01:31.080 --> 00:01:32.580 Moving to value-based care 38 00:01:32.580 --> 00:01:35.280 requires a comprehensive approach. 39 00:01:35.280 --> 00:01:38.010 We need to consistently measure patient outcomes 40 00:01:38.010 --> 00:01:40.950 compared to the cost to deliver those outcomes. 41 00:01:40.950 --> 00:01:43.590 Outcomes and cost need to be measured separately 42 00:01:43.590 --> 00:01:44.730 for different patient groups 43 00:01:44.730 --> 00:01:46.530 of segments of the population 44 00:01:46.530 --> 00:01:48.690 and their treatments documented. 45 00:01:48.690 --> 00:01:51.450 It is when we match a patient with the right intervention 46 00:01:51.450 --> 00:01:54.300 that we have good outcomes and lower costs. 47 00:01:54.300 --> 00:01:56.880 We also need to organize care around the patient 48 00:01:56.880 --> 00:01:58.710 and align incentives and payments 49 00:01:58.710 --> 00:02:00.510 with improving patient value. 50 00:02:00.510 --> 00:02:03.030 And we need to leverage data analytics 51 00:02:03.030 --> 00:02:04.440 and digital technologies 52 00:02:04.440 --> 00:02:06.780 to learn faster from our experiences. 53 00:02:06.780 --> 00:02:09.720 Scaling up value based health care is a system change 54 00:02:09.720 --> 00:02:13.380 where every stakeholder: health care providers, payers, 55 00:02:13.380 --> 00:02:15.120 biopharmaceutical companies, 56 00:02:15.120 --> 00:02:17.310 medical device and technology companies, 57 00:02:17.310 --> 00:02:19.743 and policy makers has a role to play. 58 00:02:21.240 --> 00:02:23.820 Drawing on numerous real-life examples, 59 00:02:23.820 --> 00:02:27.150 the patient priority not only shows what those roles are, 60 00:02:27.150 --> 00:02:30.000 it provides actionable steps for each sector 61 00:02:30.000 --> 00:02:31.710 to deliver better patient outcomes 62 00:02:31.710 --> 00:02:33.840 in overall population health, 63 00:02:33.840 --> 00:02:36.750 identify and disseminate best practice diagnostics 64 00:02:36.750 --> 00:02:38.640 and treatments more rapidly, 65 00:02:38.640 --> 00:02:41.910 control total health care costs more effectively, 66 00:02:41.910 --> 00:02:43.620 rebuild the motivation and trust 67 00:02:43.620 --> 00:02:45.153 of health care professionals. 68 00:02:46.230 --> 00:02:48.000 The time to act is now, 69 00:02:48.000 --> 00:02:50.340 the sustainability of our health care system 70 00:02:50.340 --> 00:02:53.400 and the stability of society depend on it. 71 00:02:53.400 --> 00:02:56.667 For more information, check out "The Patient Priority."