Creating a New Healthcare

Episode #48 – Walmart’s consumer oriented healthcare transformation with Marcus Osborne


Listen Later

It’s become increasingly apparent that large employers are rapidly becoming the most disruptive force in American healthcare today. Think Amazon, Berkshire Hathaway, JP Morgan Chase, Apple, Google, Microsoft, Comcast, CVS Health, Walgreens, Walmart, and so on…

The reasons are readily apparent:

  • Employers are feeling the most pain due to the unsustainable and rising costs of healthcare, the paucity of pricing transparency, and the lack of consumer-oriented service.
  • Employers are footing over a third of the American healthcare bill, with the knowledge that at least one-third of their spend on healthcare is not leading to improvements in the health of their employees.
  • Unlike other stakeholders in the healthcare market, employers are less encumbered by political bureaucracy, conflicting incentives, and legacy systems.
  • They have tremendous capital and scale, as well as cutting-edge, consumer-oriented technologic capabilities to bring to bear.
  • This episode is as much about healthcare consumerism as it is about employee health – tying in nicely to this season’s earlier podcast episodes with Dr. Robert Pearl, Kevan Mabbutt and Dr. Harold Paz.

    Our guest this week – Marcus Osborne, a Harvard Business School alum – is the VP of Health & Wellness Transformation at Walmart. He has years of experience in Walmart’s previous healthcare delivery initiatives – their clinics, pharmaceutical products & pricing, and collaborative efforts with Humana around Medicare part D.

    Marcus is a no-nonsense, results-oriented, highly accomplished businessman who is on a mission to build a new and better healthcare system. He makes it abundantly clear why this is critical to Walmart as an employer, and as a retailer serving over 85% of the American public. He does not believe the current healthcare system can be fixed. He does believe that Walmart’s credo to deliver affordable products & services, its capabilities, its size and reach, make it well positioned to create a new healthcare system.

    This episode will include:

    • Marcus’ explanation of why Walmart is formulating a strategic decision to enter the healthcare market.
      • How Walmart is optimally situated to become one of, if not, the most significant disruptor in the American healthcare delivery market.
        • Marcus’ scathing critique of how people are treated in our healthcare system; in juxtaposition to Walmart’s “customer-only” approach to serving the American public.
          • Marcus’ high-level view of what a transformed, consumer-oriented healthcare system might look like.
            • Discussion about a specific initiative Walmart has been deploying with its over 1 million associates, which is literally reducing its employee healthcare costs by over a billion dollars per year.
            • While some may find Marcus’ responses a bit in-your-face, I actually found his honesty & directness to be refreshing. At times during the interview, I did find myself feeling defensive – in large part because I am privileged to witness daily the amazing life-saving and life-enhancing work accomplished within the current healthcare system – by bright, passionate and intensely committed individuals, teams and organizations. However, I also found myself aligned with Marcus’ strategic assessment and in complete agreement with his consumer-centric thinking.

              During the course of our conversation, it became clear to me that some of the most innovative and disruptive changes coming to healthcare may not be technologic. The understanding I’ve arrived at, after dozens of conversations like this one, is that our primary purpose might not be to digitize healthcare, but instead, to humanize it.

              ...more
              View all episodesView all episodes
              Download on the App Store

              Creating a New HealthcareBy Zeev Neuwirth

              • 4.8
              • 4.8
              • 4.8
              • 4.8
              • 4.8

              4.8

              164 ratings


              More shows like Creating a New Healthcare

              View all
              Marketplace by Marketplace

              Marketplace

              8,764 Listeners

              Pivot by New York Magazine

              Pivot

              9,520 Listeners

              The Daily by The New York Times

              The Daily

              112,758 Listeners

              What the Health? From KFF Health News by KFF Health News

              What the Health? From KFF Health News

              498 Listeners

              Worklife with Adam Grant by TED

              Worklife with Adam Grant

              9,157 Listeners

              The Peter Attia Drive by Peter Attia, MD

              The Peter Attia Drive

              9,137 Listeners

              An Arm and a Leg by An Arm and a Leg

              An Arm and a Leg

              1,082 Listeners

              Becker’s Healthcare Podcast by Becker's Healthcare

              Becker’s Healthcare Podcast

              189 Listeners

              Against the Rules: The Big Short Companion by Pushkin Industries

              Against the Rules: The Big Short Companion

              9,716 Listeners

              Fiction - Comedy Fiction by The Sunset Explorers

              Fiction - Comedy Fiction

              6,445 Listeners

              Tradeoffs by Tradeoffs

              Tradeoffs

              395 Listeners

              All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

              All-In with Chamath, Jason, Sacks & Friedberg

              9,897 Listeners

              The Ezra Klein Show by New York Times Opinion

              The Ezra Klein Show

              16,042 Listeners

              The Weekly Show with Jon Stewart by Comedy Central

              The Weekly Show with Jon Stewart

              10,911 Listeners

              Not Otherwise Specified by NEJM Group

              Not Otherwise Specified

              63 Listeners