70% of Americans say the health care system has failed them

By Alan Goforth More than seven in 10 U.S. adults say the health care system is failing to meet their needs in some way, a recent survey by American Academy of Physician Associates found. The Patient Experience: Perspectives on Today’s Healthcare survey was conducted to get the patient perspective, said Lisa Gables, the organization’s CEO.. Read Full Article…

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1. 70% of Americans believe that the healthcare system is failing to meet their needs in some way, according to a survey conducted by the American Academy of Physician Associates (AAPA).

2. Specific issues identified include a significant proportion of patients (56%) reporting that they have to wait over a week to get an appointment, and nearly half (49%) feel that healthcare providers don't always listen to them.

3. Lisa Gables, CEO of AAPA, noted that the focus in healthcare has largely been on the strain experienced by healthcare teams, particularly in the context of the pandemic. However, the AAPA wanted to gain insights from the patient perspective to better understand what is and isn't working in the current healthcare system​¹​.

Insurtech Startups Are Doing It Again!

By Matteo Carbone - The recent $4.5 billion valuation of Wefox makes no sense. It shows that investors haven't yet learned the lessons of Lemonade, Hippo and Root. Read Full Article…

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1. The recent $4.5 billion valuation of insurtech startup Wefox has been questioned. Despite having about $1.4 billion in cumulative funding, the company's insurance arm underwrote EUR196 million in 2022 with a gross loss ratio of 95%, generating $30 million of underwriting losses. Premiums intermediated on their platform are at EUR2 billion. The author suggests that investors have yet to learn from the experiences of other insurtech companies like Lemonade, Hippo, and Root​1​.

2. The author shares his personal experience with a successful exit from a special purpose acquisition company (SPAC) that acquired Net Insurance in 2018. The combined entity implemented insurtech solutions and performed well, leading to a public offer from Poste Italiane and a subsequent acquisition. This resulted in a 120% return for SPAC investors in four years, with an acquisition price of EUR175 million, a price-to-earnings (P/E) multiple that the author considers sensible for a good insurance company​1​.

3. The author criticizes the first generation of insurtech startups for overpromising, underdelivering, and periodically twisting the narrative. For example, despite initial enthusiasm for disrupting the European markets, Lemonade has written only EUR4.3 million in premiums in Europe over four years, which is comparable to the business volume of a small, traditional insurance agency. Other US-based insurtech companies, such as Root and Hippo, are also mentioned as not being more trustworthy. The author warns Wefox against repeating the same playbook that lacks the basics of trust​1​.

Is exercise more effective than medication for depression and anxiety?

An expansive analysis of existing research concludes that physical activity should be viewed as a first-choice treatment for people living with mental health issues. The analysis distills the conclusions of nearly 100 meta-reviews of randomized controlled trials. Read Full Article…

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1. A comprehensive study involving 97 meta-reviews of 1,039 randomized controlled trials with 128,119 participants concluded that exercise is an effective way to treat mental health issues, potentially being even more effective than medication or counseling. The trials evaluated different forms of exercise in various dosages and different population subgroups, which suggests that the benefits of exercise for mental health are broadly applicable​¹ ​.

2. The benefits of exercise on mood states such as anxiety, stress, and depression occur through physiological and biochemical mechanisms. This includes the production of endorphins, changes in mitochondrial and neurotransmitter activity, the mammalian target of rapamycin, and the hypothalamic-pituitary-adrenal axis. The thermogenic hypothesis also suggests that the increase in body temperature from exercise can reduce muscular tension and alter neuronal activity, thus reducing anxiety. Exercise has also been shown to reduce inflammation, which can contribute to better health outcomes in people suffering from mood disorders​¹ ​.

3. The analysis found that physical activity produced a median reduction in mental health issues from 42% to 60%, compared to much smaller improvements of 22% to 37% produced by psychotherapy and pharmacotherapy. Doing 150 minutes each week of various types of physical activity — such as brisk walking, lifting weights, and yoga — significantly reduces depression, anxiety, and psychological distress. Exercise was found to be particularly beneficial for people with depression, HIV and kidney disease, pregnant and postpartum women, and otherwise healthy adults. Furthermore, many studies showed that for people older than 45 and/or de-conditioned, walking 20–40 minutes each day was particularly effective for improving depression and anxiety​¹ ​.

4. The study confirms that exercise should be considered a legitimate first-line treatment for mental health issues, and not merely an 'added extra'. It advocates for a more comprehensive treatment plan that includes a combination of lifestyle approaches, such as regular exercise, a balanced diet, and socializing, alongside conventional treatments like psychotherapy and medication. It suggests that mental health professionals should partner with health professionals with knowledge of physical activity and exercise to develop these comprehensive treatment plans​¹ ​.

Top Ten HR Trends For The 2023 Workplace

By Business Wire May 31, 2023 - As we enter 2023, the future of work has become the now of work. Many of the changes which started during the pandemic were accelerated and have become permanent aspects of our working lives.Read Full Article…

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1. Employee Well-Being as a Priority: With workplace stress on the rise, companies are increasingly shifting focus towards employee well-being. Delta Air Lines, for instance, has implemented a well-being strategy that takes into account the holistic health of their employees, including their mental health, nutrition, and financial literacy. This is achieved through initiatives such as free counseling sessions, healthier food options in cafeterias, and financial education programs​¹​.

2. Rise of Skills-Based Hiring: There has been a significant increase in skills-based hiring, with a 63% rise over the past year. Companies are prioritizing potential and experience over academic qualifications, which not only broadens the talent pool but also accelerates hiring processes and enhances diversity in thought. This trend is expected to accelerate in 2023, positioning skills as the new currency of the labor market​¹​.

3. Flexibility for All Employees: Flexibility in the workplace is no longer just about remote work but includes the ability to choose one's work schedule, which could mean working fewer but longer days. This shift is being driven by the desire of workers for flexibility in when work gets done, as opposed to where. Companies are also exploring options to facilitate flexibility for frontline workers, leading to benefits such as increased employee retention​¹​.

Retailers Are Making a Big Push Into Healthcare. Is Our Sector Ready?

By JOHN BOU - While retailers already have a customer service focus, there is a steep learning curve to healthcare and the nuances of how things operate. It will be critical that these brands do their due diligence and invest in innovations that work to improve the fundamentals of healthcare such as efficient provider credentialing and flexible and sustainable working practices for providers. Read Full Article…

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1. The Rise of Retail Healthcare: Brand-name retailers such as Amazon, CVS Health, and Walgreens have been expanding their presence in healthcare over the past few years, investing billions in acquisitions to establish themselves in this sector. This shift is fueled by a goal to make healthcare more accessible, leveraging these companies' experience in creating innovative systems. This trend also responds to patient demands for convenience and accessibility, with many appreciating the ability to receive healthcare services while doing their regular shopping​¹​.

2. Shift in Patient and Provider Behavior: The shift towards retail healthcare mirrors changes in the behavior of patients and healthcare providers alike. Patients are now more informed and active in their healthcare experiences, not wanting to wait months for appointments or jump through hoops to access their medical records. This has led to a demand for a broader range of options accessible through digital means. On the provider side, facing challenges such as burnout and staffing shortages, many clinicians have started practicing medicine on their own terms in direct primary care or as virtual-first clinicians​¹​.

3. Challenges and Drawbacks: While the retail model offers convenience and accessibility, it also poses potential challenges. One key concern is the potential for diminished consistency in the physician-patient relationship, which is often built on history and trust and seen as crucial in primary care. Studies have shown that positive, consistent relationships with physicians can improve patient satisfaction, foster loyalty, and enhance health outcomes. Retail healthcare, however, may not ensure that patients see the same physician each time, which might affect these relationships​¹​.

Pharmacy Benefit Management (PBM) research report examines market demand as well as key producers and geographical areas, with a CAGR of 8.1% during 2023-2030.

By Prime PR Wire - The Pharmacy Benefit Management (PBM) market research report provides insights into the current market conditions, trends, and future growth prospects for PBMs. The global Pharmacy Benefit Management (PBM) market is expected to reach a valuation of approximately $400 billion by 2030. The report highlights the growing demand for PBMs due to rising healthcare costs, increasing chronic diseases, and expanding insurance coverage. The study also focuses on the impact of COVID-19 on the PBM market, with a shift towards telemedicine and digital solutions. The report recommends PBMs adopt advanced technologies and provide customized solutions to meet the growing needs of patients and payers. Read Full Article…

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1. Growth and Challenges in the Pharmacy Benefit Management (PBM) Market: The global PBM market is forecasted to reach approximately $400 billion by 2030. The demand for PBMs is increasing due to rising healthcare costs, a surge in chronic diseases, and expanding insurance coverage. PBMs have adapted to the impacts of COVID-19, embracing telemedicine and digital solutions. Despite this positive trajectory, they face regulatory and legal challenges such as compliance with regulations like the Affordable Care Act (ACA) and the Medicare Part D program.

2. Key Players in the PBM Market: The PBM market is highly competitive, with significant players including CVS Health, Express Scripts, OptumRx (UnitedHealth), Humana Pharmacy Solutions, Prime Therapeutics, MedImpact Healthcare, Magellan Health, BC/BS, Vidalink, Sea Rainbow, and Cachet. These companies offer a range of services, such as prescription drug management, network management, and clinical services. They continue to innovate and offer new services to maintain and gain competitive advantages.

3. The Role of Technology and Different Market Segments in the PBM Market: The PBM market provides services to various health plans, including commercial health plans, self-insured employer plans, Medicare Part D plans, Federal Employees Health Benefits Program, and State Government Employee Plans. The adoption of advanced technology has enabled PBMs to enhance their services, and the development of self-driving PBM technology using artificial intelligence, machine learning, and robotic process automation is expected to further improve efficiency and cost-effectiveness. Despite the challenges presented by regulatory and legal factors, the PBM market continues to grow and innovate, offering promising solutions to the escalating costs of healthcare.