What is the top challenge or obstacle facing health care today?
Among the many obstacles in the healthcare system today, I feel cost and quality are the two more pressing. Healthcare in the US is very expensive and treatment outcomes are often mixed, even when high-quality care is available. So many people needlessly suffer. For example, one in two individuals will have a musculoskeletal (MSK) condition, such as a back or knee injury, yet only a fraction of people can get the help they need due to cost or the ability to access care. I want to make healthcare more accessible and affordable to anyone that needs care. One way I hope to see this addressed is through better integration of solutions. Right now, even if you have the ability to access your care at a reasonable cost, navigating between endless point solutions is frustrating and complicated. Through better integration, quality health solutions can be put under one umbrella where patients can easily access resources without jumping between various portals and apps.
What has you most optimistic about the future of health care?
One thing that has made me optimistic in recent years is seeing how many great minds are working to address the issues of cost and access specifically. Since the pandemic, there has been a lot of focus on digital health and therapeutics that allow technology to address many of the barriers to in-person care. Through online platforms, patients are able to receive treatment at any time from anywhere. For example, at RecoveryOne we use technology to take our patients on a journey from the onset of the disorder until they return to everyday life. We’re focused on creating engaging experiences, and ensuring individuals have access to a treatment plan that is adjustable and personalized to them – because every patient is different and so should their recovery pathway. Our solution is one of many, and I’m excited to see what progress will be made by other innovative companies to get their patients access to better, more convenient care.
What do you feel are the key drivers of health care transformation?
Two of the biggest catalysts for innovation and discussion are higher-quality care and affordability. I’ve found that some of the most important aspects of transformation connect these two drivers. The demand for accessibility is not new but has gotten louder over the years. Looking at musculoskeletal conditions, high surgical rates contribute to the US spending $100 billion in treatment that research has shown to have little to no value. There is a lot of pain and waste across the board. That has inspired us to create an easier, more affordable way to connect people with physical therapists to decrease that pain without seeing a surgeon. By increasing positive outcomes through our platform, we have healthier individuals who aren’t stuck losing wages or spending paid time off recovering from medical treatments. We’ve found a way to reduce pain while allowing them to continue their everyday lives.
What are some of the key trends you are seeing with respect to employer-sponsored health care?
There are too many point solutions on the market for employer plans. Companies want to leverage digital health, but the truth is that the large number of point solutions available are overwhelming employer plans and their members. Digital health solution providers need to be able to work with their clients and integrate into their network instead of being one more solution to manage. For example, RecoveryOne’s solution seamlessly integrates within a payer or an employer health plan’s existing care delivery to ensure a unified experience, a streamlined process for managing workflow within current care delivery without added friction and that employees receive the right care at the right time.
What’s the one piece of advice you would give to an aspiring health care leader?
My advice is to show humility and authenticity. The birthplace of good relationships is a genuine connection. If someone has a thought on what should be different, I want to hear it. Everyone’s life experience brings a new viewpoint to the table. In a similar vein, be curious. No matter how long you’ve been in business or how much expertise you have, you need to learn more. The market is constantly changing. You have to be curious about the unmet needs and your company’s competencies. Then tirelessly begin searching for answers. Things like conferences and meeting people with similar interests are essential. That is how you are going to learn.
Mark Luck Olson
Chief Executive Officer