BACH Hosts Inaugural Health Sector Leaders Consortium
Friday, September 23, 2022
The Carlson School’s Business Advancement Center for Health (BACH) hosted its first Health Sector Leaders Consortium on September 20 at McNamara Alumni Center.
BACH’s first event of the new academic year brought together industry leaders who are disrupting the status quo of business in healthcare. University of Minnesota students, alumni, researchers, and professionals learned how their organizations are using collaborative engagement, innovation, and technology to improve access, value, and health equity.
Launched in January 2022 with a mission to design business-driven innovations that address gaps in health equity and improve value in healthcare, BACH convenes academia, industry, and community stakeholders to drive innovation and sustainable solutions to critical issues in healthcare.
"We are fortunate to be located in the thriving medical ecosystem of the Twin Cities where we can bring together leaders, students, and professionals to share unique perspectives on trends, opportunities, and challenges in all sectors of healthcare,” says Pinar Karaca-Mandic, the founding director of BACH and the C. Arthur Williams Jr. Professor of Healthcare Risk Management at the Carlson School.
The event kicked off with Andy McMahon, vice president of community investment and innovation at UnitedHealthcare (UHC) Community & State. McMahon highlighted how the UHC Catalyst and Communities of Health initiatives cultivate and build cross-sector collaborations to power improvement in community health.
Grady Davis, vice president of global commercial marketing for structural heart at Medtronic, followed and explained the importance of customer intimacy and centricity as organizations, functions, and businesses grow in value. Healthcare is becoming more consumer-centric and organizations must maintain customer intimacy and centricity as they scale their solutions, Davis told the audience.
Sarah Taylor, vice president and chief analytics officer at Prime Therapeutics, summarized how the company is using data and technologies to refine the Pharmacy Benefit Manager business model. The company’s innovative technology platform is at the core of redefining integration, reducing costs, and improving clinical outcomes, leading to an improved member experience and closer provider alignment.
The next speaker, Frank Jaskulke, vice president of intelligence for the Medical Alley Association, explored how healthcare is an asset-driven business and is often easier for healthcare professionals to choose the option that seems most convenient when making business decisions. He added, though, that without new business models, technologies, and innovators who are willing to disrupt the healthcare ecosystem, the industry will not advance and the issues of health equity, value, quality, and access will persist.
Mark Steffen, senior vice president and chief medical officer at Blue Cross and Blue Shield of Minnesota, examined how value-based care has and continues to evolve. Steffen shared the ongoing value-based care journey at Blue Cross and Blue Shield of Minnesota, what they have learned along the way, and how they continue working to transform the traditional payer business model.
The event closed with Sami Yusuf, vice chair of corporate development for Mayo Clinic International, who showcased how Mayo Clinic is working to transform healthcare delivery from within including how Mayo Clinic’s strategic business practices are driving cross-sector partnerships and innovation to drive solutions to benefit patients globally.
Recordings of the event can be found on the BACH website.