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45:47

Revolutionizing Pharmaceutical Data Management with John Walters of Sanai

Explore the Opportunities with AI

/@EOApodcast

Jun 6, 2025

This video provides an in-depth exploration of how AI is revolutionizing pharmaceutical documentation and data management, featuring John Walters, founder and CEO of Sanai. Walters begins by highlighting the staggering cost and inefficiency of traditional drug development, noting that the average drug costs $2.3 billion and takes 11 years to reach market, with data management being a significant bottleneck due to poor searchability and access. He introduces Sanai's AI-driven platform as a solution designed to enhance operational excellence, clinical development, and manufacturing operations by addressing these core challenges. The discussion delves into Sanai's unique approach, which combines an FDA 21 CFR Part 11 compliant document control and data management layer with advanced AI functionality. This includes a next-generation query engine akin to ChatGPT or Gemini, but specifically trained on a company's internal data to provide contextual answers with citations. Walters explains how their platform not only centralizes and vectorizes data from various sources (internal documents, white papers, journal articles, FDA advisory letters) but also leverages generative AI to author first drafts of critical documents like SOPs, batch records, clinical trial protocols, and INDs, significantly reducing the manual effort involved in regulatory filings. He contrasts this with existing solutions like Veeva Vault or Master Control, which excel at data integrity and security but lack advanced search and leverage capabilities. Throughout the video, Walters emphasizes the practical applications and benefits of Sanai's technology. He shares examples of how the AI can perform real-time data analysis, generate reports, and even create flowcharts from process descriptions, tasks that traditionally take days or weeks. The platform aims to bridge the gap between scientific research and legal regulatory requirements, allowing scientists to focus on innovation while the AI handles the complex, time-consuming aspects of documentation and compliance. He also touches upon critical aspects like data security (Sock 2 compliance, no model retraining on customer data) and the use of a comprehensive synthetic data suite for robust product testing, including intentional error injection to ensure the AI's ability to identify inconsistencies and prevent hallucinations. The long-term vision extends to integrating with lab machinery, EHRs, supply chain, and even strategic planning by cataloging industry stakeholders. Key Takeaways: * **High Cost of Drug Development & Data Management Inefficiency:** The average drug costs $2.3 billion and takes 11 years to market, with poor data searchability and access being a major contributor to delays and high costs, impacting training, execution, and investigations. * **AI as a Foundational Technology:** Generative AI is likened to the discovery of electricity, with broad applications, but Sanai focuses on narrow verticals within pharma: operational excellence, clinical development, and manufacturing operations. * **Integrated AI-Powered Data Platform:** Sanai offers an FDA 21 CFR Part 11 compliant document control and data management layer with AI functionality, including a next-gen query engine trained on proprietary data for contextual answers and citations. * **Automated Document Authoring:** The platform can generatively author first drafts of critical documents such as SOPs, batch records, GMP compliant documentation, clinical trial protocols, and INDs, transforming raw data into legally compliant formats. * **Enhanced Data Searchability and Leverage:** Unlike traditional systems (e.g., Veeva Vault, Master Control) that prioritize integrity and security but lack advanced search, Sanai vectorizes and labels data, making it semantically searchable and leverageable for new analyses and document creation. * **Bridging Scientific and Regulatory Gaps:** The AI acts as an interface between deep scientific research and complex legal/regulatory requirements, assisting both scientists and legal professionals who may not be experts in the other domain. * **Real-time Data Analysis and Reporting:** The chat interface allows users to pull and analyze primary data (deviations, batch records, clinical data), perform Excel-like functions (min, max, average, standard deviation), and generate reports in minutes instead of days. * **Visual Data Interpretation and Generation:** Upcoming features include the ability to interpret and produce visual data (graphs, pictures from microscopes) and improved OCR models for interpreting human handwriting on scanned paper documents, acknowledging the industry's slow transition to fully digital. * **Significant Efficiency Gains:** Sanai's software has already demonstrated a 50% reduction in audit times for first-time users, with potential for even greater gains as users become more proficient with prompting. * **Robust Data Security and Compliance:** The platform is undergoing Sock 2 security observation, does not retrain its models on customer data, and focuses on providing a secure environment for sensitive pharmaceutical IP. * **Synthetic Data for Testing and Validation:** Sanai developed a synthetic data suite of over 7,000 pages, mimicking a fictional pharmaceutical company's documentation, to rigorously test the AI's capabilities, including its ability to identify errors and inconsistencies. * **Empowering Human Decision-Making:** The goal is to automate 90-99% of rote tasks (logistics, paperwork, coordination), allowing humans to focus on strategy, judgment, and the core scientific problems they are trained for, thereby accelerating drug development and reducing errors. * **Long-term Vision for a Central Data Lake:** Future plans include integrating with lab machinery (chromatography, bioreactors), EHRs, supply chain coordination, marketing claim validation, and strategic planning by cataloging industry stakeholders and their capacities. * **Massive Market Potential:** AI data management in pharma is projected to be a $67 billion industry by 2033, with drug development identified as a prime area for AI disruption due to current astronomical costs ($2 million/day loss for delayed drugs, $10 million for regulatory filings). Key Concepts: * **FDA CFR Title 21 Part 11:** Regulations governing electronic records and electronic signatures in the pharmaceutical industry, ensuring data integrity and security. * **Generative AI:** Artificial intelligence capable of generating new content, such as text, images, or other data, based on patterns learned from existing data. * **Vectorization:** The process of converting data (like text or images) into numerical vectors, allowing AI models to understand and process relationships between data points. * **Operational Excellence:** A philosophy of continuous improvement and problem-solving, aiming to achieve superior performance in an organization's operations. * **Clinical Development:** The process of bringing a new drug or medical device to market, involving preclinical studies, clinical trials (Phase 1, 2, 3), and regulatory submissions. * **CMC (Chemistry, Manufacturing, and Controls):** A critical aspect of drug development focusing on the quality, purity, and consistency of the drug substance and product. * **IND (Investigational New Drug):** An application submitted to the FDA to obtain permission to administer an investigational drug to humans. * **SOPs (Standard Operating Procedures):** Detailed, written instructions to achieve uniformity of the performance of a specific function. * **Batch Records:** Documentation detailing the manufacturing process of a specific batch of a product, ensuring traceability and quality control. * **ETMF (Electronic Trial Master File):** A digital system for managing and storing essential clinical trial documents. * **Sock 2 Security:** A compliance standard for service organizations, ensuring data security, availability, processing integrity, confidentiality, and privacy. * **Hallucination (AI):** When an AI model generates outputs that are factually incorrect or nonsensical, despite appearing confident. * **Synthetic Data:** Artificially generated data that mimics the statistical properties of real-world data but does not contain actual sensitive information, used for testing and development. Tools/Resources Mentioned: * **Sanai.ai:** The company and platform discussed in the video. * **Veeva Vault:** A leading cloud-based content management platform for the life sciences industry. * **Master Control:** A quality management system (QMS) and electronic document management system (EDMS) for regulated industries. * **Google Drive, Box, Dropbox:** Traditional cloud storage solutions mentioned as current data management methods for early-stage companies. * **ChatGPT, Gemini:** Large Language Models (LLMs) used as a comparison for Sanai's query engine. * **Excel, Jump:** Software used for data analysis, with Sanai aiming to replicate and automate these functions. * **Canva, PowerPoint:** Tools mentioned for manual flowchart creation, which Sanai automates.

48 views

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19:22

VEEV Q1 2026: $3B Goal Hit Early! AI & New Markets Next?

TalkTickers: AI Podcast Discussing Earnings Calls

/@TalkTickersPodcast

Jun 2, 2025

This video provides a deep dive into Veeva Systems' Q1 Fiscal 2026 earnings, highlighting a strong financial performance, including achieving their $3 billion revenue run rate goal ahead of schedule. The discussion centers on Veeva's strategic initiatives and product momentum within the life sciences industry, particularly the ongoing migration to Vault CRM, the accelerating growth of their commercial business driven by Crossix, and the robust performance of their R&D segment. A significant portion of the call focuses on Veeva's ambitious Viva AI initiative, which aims to embed AI agents across its core applications to boost industry efficiency, and a strategic expansion into horizontal CRM markets. While acknowledging potential macro uncertainties, Veeva's management conveyed confidence in their resilient business model, underpinned by sticky subscriptions and mission-critical solutions. Key Takeaways: * **Veeva CRM's Strategic Evolution and Adoption:** The migration to Vault CRM is gaining significant traction, with over 80 customers live and strong adoption among Top 20 pharma companies. The key differentiator is its embedded AI strategy and the unique ability to unify sales, marketing, and medical functions within a single database, offering a more capable and integrated platform for life sciences. * **AI as a Transformative Force in Life Sciences:** Veeva's "Viva AI" initiative is a major strategic bet, aiming to embed AI agents directly into core applications (e.g., med-legal reviews, sales rep assistance, safety case transcription). This approach is projected to boost life sciences efficiency by 15% over 3-5 years, creating "aha moments" for customers and signaling a shift towards intelligent automation within existing workflows. * **Data and Analytics Drive Commercial Success:** The commercial business's accelerated growth is predominantly fueled by Crossix, Veeva's digital advertising and data analytics platform. Crossix's high ROI, quick implementation, and comprehensive data network (including retail pharmacy, specialty drug, and hospital data) are proving critical for optimizing digital ad spend and providing actionable insights in a complex market. * **Resilience Amidst Industry Headwinds:** Despite acknowledging increased macro uncertainty, Veeva has not seen a material impact on its business velocity or deal close rates. The company's long-term subscription contracts and focus on mission-critical solutions provide insulation, though concerns around biotech funding, FDA timelines, and drug pricing changes remain watch items for customers. * **Expansion Beyond Core Life Sciences:** Veeva is making a significant strategic move to expand into horizontal CRM markets outside its traditional life sciences base. This indicates a broader ambition to leverage their technological breakthroughs and business model in new enterprise segments, potentially opening substantial new growth avenues.

6 views

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Veeva SystemsVEEVEarnings Call

19:23

Veeva or Salesforce? We discuss Vendors Management, Digital transformation, MarTech & more!

Amplifiz - Pharma & MedTech Innovations Podcast

/@Amplifiz

Jun 1, 2025

This video directly addresses key areas such as Veeva CRM consulting, digital transformation in the pharmaceutical and life sciences industries, strategic vendor partnerships, data governance, regulatory compliance, and the effective adoption of technology solutions. The discussion around Veeva vs. This video features Danielle Bateman, a Digital Transformation Pharma Executive, discussing crucial aspects of vendor management and digital strategy within the pharmaceutical and MedTech sectors. The conversation explores how to cultivate strategic, win-win partnerships with vendors, navigate the complexities of global versus local governance for technology solutions, and address the significant decision pharma companies face regarding their CRM platforms, particularly the ongoing shift from Veeva to Salesforce. Bateman underscores the unique regulatory and compliance challenges inherent in the pharma industry, the necessity of cost-effective solutions for emerging markets, and the paramount importance of change management and user adoption for successful digital transformation initiatives. The discussion also touches upon innovative concepts like value-based contracting for vendor arrangements and leveraging early adopters to champion digital tool adoption. Key Takeaways: * **Strategic Vendor Partnerships & Trust:** Building win-win relationships with vendors in pharma requires moving beyond RFPs to preferred vendor status, fostering shared outcomes, and establishing trust, especially given stringent compliance and regulatory requirements. * **Veeva vs. Salesforce CRM Migration:** Pharma companies face a critical business decision regarding their CRM platform (Veeva or Salesforce) by 2030, with either path necessitating significant changes and impacting their technology ecosystems and partner networks. * **Global Governance vs. Local Empowerment in MarTech:** A key challenge is balancing a global tech strategy with local market relevance and cost-effectiveness, particularly in emerging markets, while ensuring global providers meet high standards for data privacy and regulatory compliance (e.g., GDPR). * **Digital Transformation & Change Management:** The biggest hurdles in digital transformation are change management and user adoption. Success hinges on identifying and empowering early adopters as internal champions to drive widespread acceptance of new solutions. * **Value-Based Contracting for Vendors:** An innovative approach involves extending value-based contracting (common for medicines) to vendor arrangements, tying incentives to measurable outcomes like increased share of voice or improved patient outcomes, with AI and tech enabling better measurement. * **Regulatory Compliance as a Core Vendor Requirement:** Any third-party vendor in the pharmaceutical sector must meet the most stringent compliance standards due to the high stakes of data breaches and the broad regulatory impact across global operations.

Veeva (VEEV|$37.9B) - 2026 Q1 Earnings Analysis

SmartStockWatch

/@SmartStockWatch

May 28, 2025

This video provides an in-depth analysis of Veeva's fiscal 2026 first-quarter earnings report, presented by Smart Stockwatch. The report highlights Veeva's impressive financial performance, strategic initiatives, and optimistic future outlook within the life sciences industry. Senior analyst John discusses how Veeva, a leading provider of cloud solutions for the sector, has demonstrated strong market position and innovation, particularly with its upcoming AI developments. The analysis delves into Veeva's robust Q1 2026 financial metrics, showcasing significant growth. The company reported total revenues of $759 million, marking a 17% increase year-over-year, with subscription services revenue experiencing an even higher rise of 19%. Profitability also saw substantial improvement, as non-GAAP operating income surged by 34% to $349.9 million, indicating effective cost management and operational efficiency. Furthermore, Veeva's adjusted earnings per share (EPS) significantly surpassed analyst expectations, reaching $1.97 against a forecast of $1.20, a beat attributed to strong revenue growth and enhanced operating margins. A central theme of the discussion is Veeva's strategic advancements, most notably the anticipated launch of "Veeva AI" in December 2025. This initiative is designed to embed advanced AI capabilities directly into Veeva's applications, aiming to enhance productivity and automation across the entire life sciences industry. The video emphasizes that this move is crucial for Veeva's long-term growth trajectory and its pursuit of a $3 billion revenue run rate goal. Additionally, the introduction of "CRM Pulse" is highlighted as a development that further strengthens Veeva's commercial data offerings, reinforcing its leadership in the market. Concluding the report, the video examines Veeva's confident financial guidance for the upcoming quarter and the full fiscal year. For the second quarter, Veeva projects revenues between $766 million and $769 million, with a non-GAAP EPS of $1.89 to $1.90. The full fiscal year 2026 guidance anticipates total revenues reaching up to $3.1 billion and an adjusted EPS of approximately $7.63. This optimistic outlook underscores Veeva's confidence in its continued growth, strategic execution, and expanding market opportunities within the dynamic life sciences sector. Key Takeaways: * Veeva delivered a stellar Q1 2026 performance, reporting total revenues of $759 million, a 17% year-over-year increase, driven by strong demand for its cloud solutions in the life sciences industry. * Subscription services revenue, a key indicator of customer retention and recurring income, grew by an impressive 19%, highlighting Veeva's ability to attract and maintain its client base. * The company demonstrated robust financial health with non-GAAP operating income rising 34% to $349.9 million, reflecting effective cost management and operational efficiency. * Veeva's adjusted EPS of $1.97 significantly exceeded analyst forecasts of $1.20, attributed to strong revenue growth, improved operating margins, and successful execution of strategic initiatives. * A major strategic initiative is the upcoming launch of "Veeva AI" in December 2025, which will embed AI capabilities into Veeva applications to enhance productivity and automation across the life sciences industry. This positions Veeva at the forefront of AI adoption in the sector. * The introduction of "CRM Pulse" is enhancing Veeva's commercial data offerings, providing deeper insights and strengthening its market leadership in commercial operations for life sciences companies. * Veeva's commitment to innovation is further underscored by its pursuit of a $3 billion revenue run rate goal, indicating aggressive growth targets and continuous product development. * The company provided an optimistic financial outlook for FY2026, projecting revenues up to $3.1 billion and an adjusted EPS of approximately $7.63, reflecting confidence in sustained growth and market expansion. * Veeva's consistent ability to deliver results ahead of guidance for all metrics demonstrates its focused execution and the substantial market opportunity it addresses within the life sciences ecosystem. * The video emphasizes Veeva's strong market position as a leader in providing specialized cloud solutions for the highly regulated pharmaceutical, biotech, and life sciences industries. * The integration of AI into Veeva's core platform presents significant opportunities for life sciences companies to optimize various operations, from commercial to clinical, aligning with IntuitionLabs.ai's expertise in AI solutions for the sector. Tools/Resources Mentioned: * **Veeva CRM Pulse:** An enhancement to Veeva's commercial data offerings, designed to provide deeper insights and improved management of commercial operations data. * **Veeva AI:** An upcoming strategic initiative to integrate artificial intelligence capabilities directly into Veeva's suite of applications, aiming to enhance productivity, automation, and data insights for life sciences clients. Key Concepts: * **Non-GAAP Operating Income:** A measure of profitability that excludes certain non-cash or non-recurring expenses, providing a clearer view of a company's core operational performance. * **Adjusted Earnings Per Share (EPS):** A company's profit divided by the outstanding shares of its common stock, adjusted to exclude certain items that are not considered part of normal business operations, offering a more standardized view of profitability. * **Subscription Services Revenue:** Recurring revenue generated from customers paying for ongoing access to software or services, which is crucial for sustained growth and indicates strong customer attraction and retention. * **Veeva AI:** A strategic initiative by Veeva to embed artificial intelligence capabilities directly into its suite of applications, aiming to enhance productivity, automation, and data insights for life sciences clients, particularly in areas like commercial operations and medical affairs.

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VEEVVeevaVeeva 2026 Q1 Earnings analysis

56:51

$VEEV Veeva Systems Q1 2026 Earnings Conference Call

EARNMOAR

/@EarnMoar

May 28, 2025

This video provides an in-depth exploration of Veeva Systems' fiscal 2026 first-quarter earnings, offering a comprehensive look at their financial performance, strategic initiatives, and market outlook within the life sciences industry. The call features CEO Peter Gasner, EVP Strategy Paul Shawa, and CFO Brian Manwagner, who discuss key product areas like Vault CRM, Crossix, and the burgeoning Veeva AI, alongside broader market trends and customer sentiment. The discussion highlights Veeva's strong execution, significant investments in innovation, and its unique position in providing mission-critical, cloud-based software solutions tailored for pharmaceutical and biotech companies. A central theme of the call is the accelerated adoption and strategic importance of Veeva's next-generation Vault CRM. The company reports substantial progress in customer migrations and new wins, driven by the enhanced product roadmap and the integration of sales, marketing, and service functions into a unified platform. Furthermore, Veeva's AI strategy is presented as a major initiative, with the CEO expressing strong confidence in its potential to revolutionize efficiency across the life sciences sector. The discussion also delves into the robust performance of Crossix, Veeva's digital marketing analytics platform, which is experiencing significant growth due to expanded capabilities and increased customer demand for digital optimization. The earnings call also touches upon Veeva's broader portfolio, including its R&D Cloud and Data Cloud offerings, providing updates on customer adoption and future growth prospects. While acknowledging a degree of macroeconomic uncertainty, the executives emphasize the resilience of their subscription-based business model and the long-term orientation of the life sciences industry. A new strategic direction, the expansion into horizontal CRM markets outside of life sciences, is also introduced, signaling Veeva's ambition to leverage its core strengths in new domains. The Q&A session further elaborates on customer feedback, the drivers behind product adoption, and the company's approach to pricing and investment in emerging technologies like AI. Key Takeaways: * **Strong Financial Performance:** Veeva reported a robust Q1 2026 with $759 million in total revenue and a 46% non-GAAP operating margin, exceeding guidance and achieving its calendar 2025 revenue run rate goal of $3 billion. * **Accelerated Vault CRM Adoption:** Veeva is seeing strong momentum with Vault CRM, having over 80 customers live and projecting approximately 200 customers live within the next year. This growth is fueled by both new customer acquisitions and migrations from legacy Veeva CRM, driven by product innovations like Service Center and Campaign Manager. * **Veeva AI as a Game Changer:** CEO Peter Gasner is highly bullish on Veeva AI, projecting it could increase life sciences efficiency by 15% by 2030. The strategy involves deeply embedding AI agents (e.g., CRM bot for pre-call planning, safety AI for case transcription) directly into core applications, emphasizing industry-specific, tangible use cases. * **Crossix Driving Commercial Growth:** Crossix, Veeva's analytics platform for pharmaceutical brands, is a significant growth engine, expanding its capabilities from digital consumer measurement to include HCP measurement, optimization, and audience building. It's growing at over 30% year-over-year, providing rapid ROI for customers' digital marketing spend. * **Expansion into Horizontal CRM:** Veeva is strategically entering the horizontal CRM market, targeting large enterprises outside of life sciences. This initiative leverages Veeva's core values of customer success and product excellence, with the goal of securing first customers by the end of the year. * **Data Cloud Traction:** Veeva's Data Cloud, including Compass, is gaining momentum, with Compass adding about 10 brands in the patient data area this quarter. The comprehensive data network supports both Crossix and Compass, enabling robust measurement and sales data projections across retail and non-retail channels for complex therapies. * **R&D Cloud Dominance:** Veeva's R&D Cloud continues to perform strongly, with ETMS (Electronic Trial Master File) now adopted by 19 out of the top 20 pharmaceutical companies. This widespread adoption signals an opportunity for Veeva to double down on investment to further standardize and simplify the industry. * **Customer Sentiment and Macro Environment:** Despite general macroeconomic uncertainty (e.g., US administration dynamics, interest rates, funding for small biotechs), Veeva's core business remains insulated due to its subscription-based, mission-critical solutions and the long-term nature of the life sciences industry. No material impact on financials or pipeline has been observed yet. * **Integrated Commercial Solutions:** The shift to Vault CRM enables a unique value proposition by bringing sales, marketing, and service together in a single customer database, which is resonating with customers seeking greater customer-centricity. * **AI Adoption Prioritization:** In the Gen AI world, Veeva sees significant focus and investment in the sales side (e.g., CRM bot) due to the potential for substantial productivity and effectiveness gains for field teams, followed by customer service (case intake) and marketing. * **AI Pricing Strategy:** Veeva plans to charge an appropriate, reasonable license fee for its AI features to encourage broad adoption across the industry, aiming for a net positive impact on revenue, though specific packaging and projections are not yet finalized. * **Industry Challenges:** Key challenges for life sciences customers include fragmented data, the need for connected software and data for faster insights, and the demand for deeply embedded, industry-specific AI solutions that deliver a clear return on investment. * **CRM Migration "Red Zone":** Large pharmaceutical companies using legacy Veeva CRM are expected to make migration decisions to Vault CRM in 2025 or 2026, ahead of the "red zone" starting around 2027, to ensure ample time for a smooth transition. **Tools/Resources Mentioned:** * Veeva Vault CRM Suite * Veeva Medical * Veeva PromoMats * Veeva Crossix (analytics platform) * Veeva OpenData * Veeva Link * Veeva Compass (de-identified longitudinal patient data) * Veeva CRM Pulse * Veeva Clinical Platform (including ETMS, CTMS, EDC, Safety, RIM) * Veeva Quality Cloud * Veeva AI (including CRM bot, Medical Legal Regulatory Approval Agent, Safety AI Agent) * Campaign Manager (part of Vault CRM) * Service Center (part of Vault CRM) **Key Concepts:** * **Vault CRM:** Veeva's next-generation CRM platform, designed to replace its legacy CRM and offer integrated sales, marketing, and service capabilities within a single customer database for life sciences. * **Crossix:** A key component of Veeva's commercial cloud, providing advanced analytics for pharmaceutical brands to measure and optimize digital marketing spend, target audiences, and assess campaign effectiveness. * **Veeva AI:** Veeva's strategic initiative to embed artificial intelligence, particularly Large Language Models (LLMs) and AI agents, directly into its core life sciences applications to automate tasks and enhance efficiency. * **Horizontal CRM:** A new market expansion strategy by Veeva to offer its CRM expertise and technology to industries outside of its traditional life sciences focus. * **Red Zone:** A term used to describe the critical period, anticipated to start around 2027, when large pharmaceutical companies using legacy Veeva CRM will face increased urgency and potential challenges if they have not yet migrated to Vault CRM. * **Connected Software & Data:** Veeva's approach to solving the industry's fragmented data challenge by harmonizing data sets and integrating them seamlessly with core software applications at a foundational level.

Copilot Agents Solutions Series – Connecting Veeva Vault PromoMats

Microsoft Healthcare and Life Blog Videos

/@microsofthealthcareandlife5580

Apr 16, 2025

This video, part of Microsoft's Copilot Agents Solutions Series, explores how organizations in the life sciences industry can extend the capabilities of Microsoft 365 Copilot by leveraging enterprise data from Veeva Vault PromoMats through AI agents and Microsoft 365 Graph Connectors. The discussion highlights the critical need for life sciences companies to accelerate content creation for marketing assets while ensuring strict regulatory compliance. It introduces the concept of custom AI agents that can be grounded on specific enterprise data sources, moving beyond generic web or M365 data. The speakers emphasize that these agents, particularly the newly available Veeva Vault PromoMats Graph Connector (now in public preview), enable a no-code approach to building powerful, industry-specific AI solutions, directly addressing pain points unique to the pharmaceutical and biotech sectors. Key Takeaways: * **Veeva Vault Integration with Microsoft Copilot:** Microsoft has partnered with Veeva to develop Graph Connectors for various Veeva modules, with the Veeva Vault PromoMats connector now in public preview, allowing life sciences companies to integrate their compliant content management system with Microsoft 365 Copilot. * **No-Code AI Agent Creation for Life Sciences:** The video demonstrates how M365 administrators can enable Graph Connectors, allowing end-users to build custom AI agents with minimal setup and no coding, specifically grounded on Veeva Vault PromoMats data, to address industry-specific use cases. * **Enhanced Commercial Operations and Compliance:** By connecting Copilot to Veeva Vault PromoMats, life sciences firms can leverage generative AI for faster creation of marketing assets and other content, while ensuring that the AI's responses and generated content are grounded in compliant, approved data, thus streamlining operations and maintaining regulatory adherence. * **Addressing Industry-Specific Pain Points:** The solution directly targets challenges in life sciences, such as the need for rapid, compliant content creation and access to specialized data (e.g., clinical trial information, regulatory documents) that is unique to the sector. * **Future Expansion of Industry-Specific AI:** This is the first in a six-part series focusing on healthcare and life sciences, indicating Microsoft's commitment to developing more industry-specific AI solutions and Graph Connectors for critical enterprise systems.

424 views

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MicrosoftCopilotAgents

26:01

Marty Makary's FDA, Operation Stork Speed, Healthcare Cybersecurity | Last Month In Healthcare

Self-Funded

@SelfFunded

Apr 4, 2025

This video provides a monthly overview of significant news and developments in the healthcare sector for March 2025, presented in a podcast format by Nathaniel and Spencer Smith. The discussion covers a range of topics, from high-level regulatory appointments and government restructuring to specific public health initiatives, the escalating threat of healthcare cybersecurity, and the growing trend of technology investments by health systems. The hosts offer their perspectives on these headlines, often drawing on personal experiences and broader industry implications, aiming to inform listeners about the evolving landscape of healthcare in the United States. The episode begins by highlighting the confirmation of Marty Makary as the new FDA Commissioner, a development viewed positively by the hosts given his balanced political stance and medical background. This segues into a broader discussion about government efficiency, specifically the Department of Government Efficiency (DOGE) within the Health and Human Services (HHS) administration, which announced a restructuring involving 10,000 job cuts across key agencies like the FDA, CDC, NIH, and CMS. This initiative is framed as part of a larger "Make America Healthy Again" (MAHA) agenda, focusing on addressing chronic illnesses through improved food systems, clean water, and environmental toxin elimination. The hosts debate the potential benefits and risks of such large-scale workforce reductions, particularly concerning the potential loss of essential personnel. Further into the MAHA agenda, the podcast delves into Texas's legislative efforts (SB25) to increase student physical activity, improve nutritional education, and implement stricter food warning labels, citing alarming statistics on childhood obesity and early-onset cancers. This theme continues with "Operation Stork Speed," an HHS and FDA initiative aimed at expanding options for safe and nutritious infant formula, including increased testing for heavy metals and studies on long-term health outcomes. The hosts share personal anecdotes about the challenges of finding healthy baby formula, underscoring the importance of this initiative. A more controversial topic discussed is RFK Jr.'s proposal to ban soda and candy from SNAP (food stamp) benefits, sparking a debate on government overreach versus public health necessity, and the role of industry lobbying. The latter part of the episode shifts focus to critical operational challenges within healthcare, particularly the increasing cybersecurity risks faced by providers. Citing statistics on the surge in cyberattacks and ransomware (with healthcare being the number one affected sector in 2023), the hosts emphasize the vulnerability of sensitive patient data, referencing major incidents like the Change Healthcare breach. They highlight the daily exposure of hundreds of thousands of health records and the financial and operational impact on healthcare organizations, especially rural hospitals. Finally, the discussion touches on health system corporate venture arms boosting tech investments, exemplified by Tampa General Hospital's TGH Ventures. This segment underscores a growing trend of health systems investing in technology, including AI, to enhance efficiency, reduce administrative burdens on physicians, and ultimately improve patient care, addressing long-standing issues like repetitive data entry in electronic health records. Key Takeaways: * **Significant Regulatory Leadership Changes:** The confirmation of Marty Makary as FDA Commissioner signals potential shifts in regulatory priorities and approaches, directly impacting pharmaceutical and life sciences companies operating under FDA oversight. * **Government Efficiency Drives in Healthcare Agencies:** The HHS restructuring and 10,000 job cuts across FDA, CDC, NIH, and CMS under the "Department of Government Efficiency" (DOGE) aim to streamline operations and reduce redundancy, which could affect regulatory processes and interactions for industry stakeholders. * **Broad Public Health Initiatives:** The "Make America Healthy Again" agenda, including efforts in Texas (SB25) and proposals like banning soda/candy from SNAP, indicates a growing government focus on preventative health, nutrition, and physical activity, potentially influencing market demand and product development in the health sector. * **Enhanced Scrutiny on Product Safety and Nutrition:** "Operation Stork Speed" for infant formula highlights increased regulatory attention on ingredient safety, contaminants (e.g., heavy metals), and long-term health outcomes, setting a precedent for other regulated products in the life sciences. * **Pervasive and Escalating Healthcare Cybersecurity Threats:** The healthcare sector is the primary target for ransomware attacks, with hundreds of thousands of health records exposed daily. This necessitates robust cybersecurity investments and strategies for all entities handling sensitive patient data, including pharmaceutical companies and their partners. * **Critical Need for Data Security and Compliance:** The discussion around data breaches and ransomware underscores the paramount importance of secure data engineering, compliant software solutions, and adherence to regulations like HIPAA, which is a core offering for IntuitionLabs.ai. * **Growing Tech Investments by Health Systems:** Hospitals and health systems are actively increasing their spending on technology, including AI, through corporate venture arms (e.g., TGH Ventures). This trend creates significant opportunities for AI and software development firms specializing in healthcare. * **AI as a Solution for Operational Inefficiencies:** The desire to empower physicians by reducing administrative burdens and improving data flow (e.g., eliminating repetitive data entry in EHRs) directly aligns with the value proposition of AI and LLM solutions for intelligent automation in healthcare operations. * **Market Demand for Integrated and Efficient Solutions:** The challenges highlighted, from regulatory compliance to data silos and cybersecurity, point to a strong market need for integrated, compliant, and efficient technology solutions that can optimize commercial operations, manage clinical data, and ensure regulatory adherence. * **Understanding Political and Lobbying Influences:** The discussion around RFK Jr.'s food stamp proposal and the uncovering of paid health influencers by lobbying committees illustrates the complex interplay of politics, public health, and industry interests that shape the healthcare landscape. Tools/Resources Mentioned: * Verta Health (a company focused on reversing obesity and diabetes) * Paro (mentioned as a potential partner for Verta Health) * True Network Advisors (an industry network) * Change Healthcare (example of a major cybersecurity breach victim) * Tampa General Hospital (TGH Ventures - an example of a health system's corporate venture arm) Key Concepts: * **FDA Commissioner:** The head of the U.S. Food and Drug Administration, responsible for regulating food, drugs, vaccines, and other products. * **HHS Restructuring / Department of Government Efficiency (DOGE):** An initiative within the Health and Human Services administration aimed at reducing government size and improving efficiency. * **Make America Healthy Again (MAHA) Agenda:** A broad public health initiative focused on improving national health outcomes through various policy changes. * **Operation Stork Speed:** An FDA/HHS initiative to enhance the safety and nutritional quality of infant formula. * **SNAP (Supplemental Nutrition Assistance Program):** The federal food stamp program providing food assistance to low-income individuals and families. * **Ransomware:** A type of malicious software designed to block access to a computer system until a sum of money is paid. * **Corporate Venture Arms:** Investment divisions of larger corporations that invest in startups or other companies, often to gain strategic advantage or access to new technologies. * **Electronic Healthcare Records (EHRs):** Digital versions of patients' paper charts, containing medical and treatment histories. * **Turbo Cancers:** A term used to describe cancers that accelerate in growth incredibly fast, often discussed in the context of increasing cancer prevalence in young people. Examples/Case Studies: * **Marty Makary's Confirmation:** His appointment as FDA Commissioner and the lengthy confirmation process. * **HHS Restructuring:** The announcement of 10,000 job cuts across FDA, CDC, NIH, and CMS as part of a government efficiency drive. * **Texas SB25 Bill:** A bipartisan effort to increase student physical activity, improve nutritional education, and implement stricter warning labels on foods. * **Operation Stork Speed:** The initiative to improve the safety and health of baby formula, including increased testing for contaminants. * **RFK Jr.'s Food Stamp Plan:** A controversial proposal to ban soda and candy purchases using SNAP benefits. * **Change Healthcare Breach:** A significant cybersecurity incident that impacted healthcare providers nationally. * **Rural Hospitals and Cybersecurity:** The vulnerability of rural hospitals to cyberattacks and extortion attempts. * **Tampa General Hospital's TGH Ventures:** An example of a health system expanding its technology investments through a corporate venture arm.

137 views

43.7

make america healthy againmahalast month in healthcare

7:07

Pharma to Doctor Money Loophole

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Mar 30, 2025

This video provides an in-depth exploration of a significant "loophole" in the pharmaceutical industry's payment practices to doctors, which allows for the indirect incentivization of medication prescriptions despite the Anti-Kickback Statute (AKS). Dr. Eric Bricker, the speaker, meticulously breaks down how pharmaceutical companies leverage Group Purchasing Organizations (GPOs) to circumvent direct payment prohibitions. The core mechanism involves pharma companies paying bonuses to GPOs, which, due to a "Safe Harbor" exemption from the AKS, can then pass these bonuses (often termed "rebates") to physician groups or hospitals for increasing the volume of specific in-office administered medications, such as injections and infusions. The presentation details how this system operates, starting with the pharmaceutical manufacturer, moving through distributors (which often have GPO subsidiaries), and finally to the healthcare providers. These financial incentives are substantial, with Dr. Bricker citing an example where individual physicians received hundreds of thousands of dollars in a single bonus payment for switching from one drug to another. A critical aspect highlighted is that these payments are typically hidden within medical claims rather than pharmacy claims, making them opaque to employer-sponsored health plans and other payers who primarily scrutinize pharmacy data. This lack of transparency obscures the true cost drivers and potential conflicts of interest. Dr. Bricker also discusses the various forms these incentives can take, from direct cash payments to physicians to practices or hospitals retaining the funds and subsequently restricting their internal formularies to favor the incentivized medications. He emphasizes that while these practices are perfectly legal under current regulations, they raise significant ethical concerns regarding patient care and informed consent. To address this, he proposes two primary solutions: providers voluntarily refusing such payments, or, more realistically, mandatory verbal disclosure to patients about these financial arrangements, with patient acknowledgment and documentation, potentially facilitated by natural language processing (NLP) and generative AI technologies. Key Takeaways: * **Anti-Kickback Statute (AKS) Circumvention:** The AKS prohibits direct payments from pharmaceutical companies to doctors for prescribing specific medications. However, GPOs benefit from a "Safe Harbor" exemption, allowing them to receive bonuses from pharma and subsequently pay "rebates" to physician groups or hospitals, effectively creating an indirect payment channel. * **Role of Group Purchasing Organizations (GPOs):** GPOs, which consolidate purchasing for healthcare providers, are central to this loophole. They act as intermediaries, receiving bonuses from pharmaceutical companies for increased distribution or usage of specific drugs, and then passing a portion of these funds to providers. * **Focus on In-Office Administered Medications:** This payment structure primarily applies to medications administered directly in a doctor's office, outpatient clinic, dialysis center, or hospital, such as injections and infusions, rather than prescriptions filled at a pharmacy. * **Hidden in Medical Claims:** A significant challenge is that these bonus payments and associated medication costs are embedded within medical claims, not pharmacy claims. This makes them difficult for employer-sponsored health plans and other payers to identify and analyze, contributing to higher medical claim costs. * **Substantial Financial Incentives:** The payments to physicians and practices can be extremely large, with an example cited of individual physicians receiving hundreds of thousands of dollars for switching from one drug to another, potentially exceeding their annual earnings from billing insurance. * **Impact on Physician Autonomy and Patient Choice:** These incentives can influence a physician's prescribing habits or a practice's formulary decisions, potentially limiting patient choices and raising questions about whether medical decisions are solely based on patient best interest. * **Proposed Solution 1: Provider Refusal:** One suggested solution is for doctors, physician groups, and hospital administrators to voluntarily refuse to accept these GPO payments, similar to how some hospital systems (e.g., Kaiser) have banned pharmaceutical representatives. * **Proposed Solution 2: Mandatory Patient Disclosure:** A more practical solution proposed is mandatory, explicit, and verbal disclosure to patients. Doctors would inform patients that they or their practice receive payments for using certain medications over others, with the patient verbally acknowledging this understanding. * **Leveraging AI for Disclosure Tracking:** The video suggests that natural language processing (NLP) and generative AI could be utilized to capture and document these verbal disclosures during office visits, ensuring trackability and compliance if such a disclosure mandate were implemented. * **Legality vs. Ethics:** While the described practices are currently legal due to the GPO Safe Harbor, the video strongly implies an ethical dilemma, advocating for greater transparency to allow patients to make informed decisions. * **"Sunlight is the Best Disinfectant":** The overarching theme is that increased transparency ("sunlight") is crucial to address this loophole, allowing for better scrutiny and potentially leading to more ethical practices within the pharmaceutical supply chain. Key Concepts: * **Anti-Kickback Statute (AKS):** A federal law that prohibits the exchange of anything of value to induce or reward referrals for items or services reimbursable by federal healthcare programs. * **Safe Harbor:** Specific exemptions or protections within the AKS that allow certain business arrangements that would otherwise violate the statute. GPOs have a Safe Harbor for administrative fees received from vendors. * **Group Purchasing Organizations (GPOs):** Entities that help healthcare providers (hospitals, physician groups) realize savings and efficiencies by aggregating purchasing volume and negotiating discounts with manufacturers, distributors, and other vendors. * **Poliola (Pay-to-Play):** A term used to describe the practice of paying for favorable treatment or exposure, analogous to record companies paying radio stations to play their music. * **Medical Claims vs. Pharmacy Claims:** Distinction between billing for medical services (doctor visits, procedures, in-office administered drugs) and billing for prescription drugs filled at a pharmacy. * **Rebates:** Payments from manufacturers to other entities (like GPOs or PBMs) that are often tied to sales volume or market share, which can then be passed on. Examples/Case Studies: * **Individual Physician Payments:** A specific example was cited where individual physicians in a particular group received "hundreds of thousands of dollars" in bonus payments for switching patients from one in-office administered drug to another. * **Kaiser Permanente:** Mentioned as a hospital system that has successfully "kicked all the pharmaceutical reps out," demonstrating that providers can refuse certain industry influences.

2.1K views

42.5

22:23

Episode 24: Veeva—RTSM nightmares: avoiding the common pitfalls

Indero (formerly Innovaderm)

/@inderoCRO

Mar 26, 2025

This video discusses common pitfalls and nightmare scenarios when implementing Randomization and Trial Supply Management (RTSM) systems in clinical trials, providing crucial lessons learned from real-world experience. ### Key Takeaways: * **Criticality of UAT and Clear Specifications:** A primary cause of RTSM pitfalls is insufficient planning for User Acceptance Testing (UAT), including defining participants, comprehensive test cases (happy path and negative checks), and adequate time. Equally important is establishing clear, unambiguous specifications from the outset, as misinterpretations can lead to significant rework and delays. * **Strategic Scope Management for RTSM:** Teams often err by attempting to use RTSM for functions beyond its core purpose of randomization and trial supply, such as capturing extensive data points typically handled by EDC systems. This overextension adds unnecessary burden to sites, leading to frustration and potential errors. * **Proactive Validation and Role-Based Access:** Ensuring data integrity requires proactive measures, such as building specific roles for unblinded statisticians to validate randomization lists, developing unique UAT scripts tailored to biostatistics, and defining robust user permissions that account for various roles (e.g., clinical project managers, inventory management, blinding/unblinding access). * **Anticipating Real-World Scenarios:** System builds should extend beyond strict protocol assumptions to anticipate real-world deviations (e.g., unexpected age limits, dose changes). Building systems that are too restrictive based solely on assumed boundaries can lead to patient interruptions at sites. * **Robust Integration and Error Handling:** For any integrations with adjacent systems like EDC, thorough planning for potential transmission failures, including robust error handling and backup methods, is essential to maintain seamless operations and prevent interruptions to patient care. * **Devastating Consequences of Data Errors:** A real-life case study highlighted how undetected errors in randomization lists invalidated multiple Phase III studies, leading to a beneficial drug being shelved due to regulatory non-compliance, massive financial losses, workforce reductions, and profound patient impact. This underscores the absolute necessity of meticulous validation and continuous monitoring. * **Continuous Communication and Training:** Regular communication among all stakeholders (sponsors, CROs, biostats, clinical teams) through kickoff meetings and ongoing discussions is vital. Additionally, user training materials should incorporate protocol-specific and system-specific requirements, not just generic instructions, to ensure users are fully equipped.

87 views

44.2

10:15

How Do Actuaries Model Healthcare Costs?

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Mar 16, 2025

This video provides an in-depth exploration of how actuaries model healthcare costs, specifically focusing on projecting an employer-sponsored health plan's spend. Dr. Eric Bricker, the speaker, demystifies the actuarial process, which often appears opaque to non-actuaries, by breaking it down into eight distinct steps. His approach is to explain the underlying logic and data requirements, emphasizing the importance of historical data analysis and forward-looking adjustments to arrive at a projected Per Member Per Month (PMPM) cost. The video aims to educate a broad audience, including HR, CFOs, and professionals in the pharma and med device sectors, on the intricate methodology behind these critical financial projections. The process begins with the foundational step of gathering comprehensive historical data, typically 24 to 36 months of both paid and pending claims, alongside detailed monthly plan member enrollment data. This granular data is crucial for accurately calculating the historical PMPM, which involves dividing total claims expense by total member months, accounting for members joining or leaving the plan throughout the year. Dr. Bricker highlights the breakdown of claims into categories like inpatient, outpatient, physician, and prescriptions, as these categories are subject to different medical cost trends. He then explains how to apply these trends, which incorporate factors such as medical inflation (e.g., 5-6% for inpatient/outpatient/physician, 7.5-8% for RX), changes in utilization (like those seen during COVID-19), the impact of new treatments and drugs (specifically mentioning GLP-1s), and regulatory changes (such as those introduced by the Affordable Care Act). Further adjustments are made for plan design changes, where actuaries use proprietary tables and historical data to quantify the impact of increased deductibles, higher cost-sharing, narrow networks, or benefit enhancements like IVF coverage. A critical step involves excluding high-cost claimants who are non-recurring, such as those who have passed away, left the plan, or undergone successful, non-chronic treatments. Demographic changes within the covered population, such as an influx of younger or older employees due to early retirement programs or high turnover, also necessitate adjustments to the risk profile. Finally, a risk margin (typically 2-5%) is added to account for projection uncertainties, and the projected PMPM is benchmarked against similar groups to provide a range of estimates: high, mid, and low. Dr. Bricker underscores that the value of actuaries often lies in their access to extensive proprietary historical data and actuarial tables, which allow them to quantify these complex adjustments. Key Takeaways: * **Foundational Data Requirements:** Accurate healthcare cost modeling begins with 24-36 months of historical claims data (both paid and pending) and detailed monthly member enrollment data to understand plan utilization and membership fluctuations. * **Per Member Per Month (PMPM) Calculation:** The core metric for comparison and projection is the PMPM, calculated by dividing total claims expense by total member months, which normalizes costs across varying group sizes and enrollment periods. * **Categorization of Claims:** Breaking down claims into categories like inpatient, outpatient, physician, and prescriptions is essential because each category can have different medical cost inflation rates and utilization patterns. * **Applying Medical Cost Trend:** Projections must incorporate medical inflation (e.g., 5-6% for most services, 7.5-8% for RX), changes in utilization (e.g., post-COVID rebound), the introduction of new treatments/drugs (e.g., GLP-1s), and regulatory mandates (e.g., ACA benefit changes). * **Impact of New Treatments and Drugs:** Pharmaceutical companies and medical device manufacturers should note that new drugs like GLP-1s are explicitly factored into actuarial trend calculations, influencing overall healthcare spend projections. * **Adjusting for Plan Design Changes:** Changes in plan design, such as increasing deductibles or co-insurance, implementing narrow networks, or adding new benefits (e.g., IVF), have quantifiable impacts on claims costs, which actuaries model using historical data and proprietary tables. * **Excluding Non-Recurring High-Cost Claimants:** It is crucial to identify and exclude high-cost claimants who are unlikely to recur (e.g., deceased members, those who left the plan, or those with successful, one-time treatments) to avoid overstating future costs. * **Demographic Adjustments:** Significant demographic shifts within an employer's population (e.g., early retirement programs leading to an older workforce or high turnover resulting in a younger workforce) necessitate adjustments to the overall risk profile and projected costs. * **Risk Margin for Uncertainty:** Actuarial projections are educated guesses, requiring the addition of a 2-5% risk margin to account for potential errors or unforeseen circumstances, providing a buffer in the final cost estimate. * **Benchmarking for Validation:** Final PMPM estimates are benchmarked against similar historical groups to validate the projections and typically presented as a range (high, mid, low) to reflect inherent uncertainties. * **Value of Actuarial Tables and Data:** A significant value proposition of actuaries lies in their access to extensive proprietary historical data sets and actuarial tables, which enable them to quantify complex adjustments that would otherwise be impossible for individual employers. Key Concepts: * **Per Member Per Month (PMPM):** A standardized metric used in healthcare finance to express the average cost of healthcare services for each plan member per month, allowing for comparison across different groups and time periods. * **Medical Cost Trend:** The projected rate of increase in healthcare costs over time, incorporating factors like inflation, changes in utilization, new technologies, and regulatory impacts. * **Actuarial Tables:** Proprietary databases and models developed by actuaries that contain historical data and statistical relationships used to quantify the financial impact of various factors, such as plan design changes or demographic shifts. * **Specific Stop-Loss Level:** A threshold (e.g., $100,000 per claimant per year) above which an employer's self-funded health plan is reimbursed by a stop-loss insurance carrier, protecting against catastrophic claims. Examples/Case Studies: * **COVID-19 Impact on Utilization:** The pandemic dramatically reduced healthcare utilization initially, followed by an increase in subsequent years as deferred care was sought, illustrating how utilization changes significantly affect cost trends. * **GLP-1 Medications:** Mentioned as a specific example of new drugs that actuaries must factor into RX spend trends due to their significant cost and growing adoption. * **Affordable Care Act (ACA):** Cited as an example of regulatory changes that mandated coverage for certain services, thereby increasing healthcare costs for plans that previously did not cover them. * **Deductible Increase Example:** An increase in deductible from $500 to $1,000 is used to illustrate how actuaries can quantify a 4% decrease in employer claims costs based on their proprietary tables. * **Benefit Enhancement (IVF):** Offering invitro fertilization coverage is given as an example of a benefit enhancement that would increase healthcare costs, with actuaries able to project the specific financial impact. * **Non-Recurring Claimants:** Examples include a deceased plan member, a dialysis patient who left the plan (saving $60k-$120k annually), or a successful cardiac surgery patient (e.g., stent or CABG) who may incur few subsequent costs. * **Demographic Shift (Early Retirement):** An employer offering early retirement could see a shift in their workforce's age profile, impacting the overall risk and cost of the health plan.

3.5K views

44.5

32:03

MAHA, Steak 'n Shake, and AI Prescriptions | Last Month In Healthcare

Self-Funded

@SelfFunded

Mar 13, 2025

This video provides an in-depth exploration of key healthcare news and trends from February 2025, as discussed in the "Last Month In Healthcare" podcast. The hosts, Nathaniel Smith and Spencer Smith, delve into a range of topics, starting with new administrative policies and progressing through market dynamics, pharmaceutical trends, and the rapidly evolving role of artificial intelligence in the healthcare sector. The discussion highlights the interconnectedness of public health initiatives, economic pressures, and technological advancements shaping the industry. The discussion begins with an analysis of the "Make America Healthy Again" (MAHA) commission's broad mandate, which extends beyond traditional medical interventions to encompass the entire food system, environmental factors, and lifestyle choices as contributing causes to chronic disease. This sets a tone for a holistic view of health. Following this, the hosts examine executive orders aimed at healthcare price transparency, noting the challenges in implementing and enforcing such policies due to the complexity of machine-readable data and the influence of lobbying efforts. The conversation then shifts to market-specific trends, including the growing influence of telehealth companies in direct-to-consumer drug advertising, particularly for GLP-1 medications, and the significant increase in employer-sponsored coverage for these drugs, reflecting a massive shift in consumer demand and benefit design. A substantial portion of the video is dedicated to the impact of artificial intelligence on healthcare. The hosts explore the dichotomy between the high hopes doctors place on AI to alleviate burnout (e.g., for note-taking, EMR management, symptom checking) and the widespread public distrust stemming from concerns over AI's role in claims denials, algorithmic biases, and broader societal fears. The most forward-looking discussion centers on a proposed bill to classify AI as a licensed practitioner, enabling it to prescribe drugs, potentially leveraging "digital twin" technology for personalized simulations. This segment underscores the regulatory and ethical complexities inherent in integrating advanced AI into clinical decision-making and patient care. Key Takeaways: * **AI as a Solution for Physician Burnout:** A significant majority of doctors (93%) experience burnout, with 80% believing AI can alleviate stress by automating tedious tasks like note-taking, transcribing, and managing electronic medical records, allowing them to focus more on patient care. * **Public Distrust of AI in Healthcare:** Despite potential benefits, 65% of American adults distrust AI in healthcare, fueled by concerns over its application in automated claims denials, perceived algorithmic biases, and a general fear of AI's increasing autonomy, potentially influenced by "predictive programming" in media. * **The Future of AI in Prescribing Drugs:** A proposed bill aims to classify AI as a licensed practitioner, enabling it to prescribe medications. The concept involves AI ingesting vast amounts of patient data to create a "digital twin" for simulated drug testing, raising significant questions about regulatory oversight, liability, and the human element in care. * **Surging Demand for GLP-1 Medications:** One-third of Americans would consider switching jobs for GLP-1 access, and employer-sponsored coverage for these drugs jumped from 30% to 63% in one year, indicating a massive market shift and potential for these drugs to become a leading expenditure category. * **Telehealth's Role in Drug Accessibility:** Telehealth companies like Hims & Hers and Ro are significantly boosting ad spending, making drugs more accessible by reducing friction in obtaining prescriptions for conditions ranging from ED to weight loss, and offering a private, direct-to-consumer model. * **Challenges in Healthcare Price Transparency:** While executive orders aim to increase price transparency, the current system often involves hospitals providing complex, machine-readable-only files, making effective enforcement and consumer access difficult. True transparency requires robust data processing and clear, actionable information. * **Scrutiny of PBM Practices:** The FTC's lawsuit against major PBMs (CVS, Express Scripts, Optum RX) for alleged price fixing through discounts highlights ongoing concerns about drug pricing models, rebates, and the lack of transparency in the pharmaceutical supply chain. A "Cost Plus" model is suggested as a more transparent alternative. * **Holistic Approach to Public Health:** The "Make America Healthy Again" commission's mission to fight chronic disease adopts a broad scope, considering factors like diet, toxic material absorption, environmental influences, and corporate practices, signaling a comprehensive view of public health determinants. * **Data Engineering for Healthcare Insights:** The discussion on price transparency underscores the critical need for sophisticated software and data engineering capabilities to process, clean, and make actionable the vast amounts of healthcare data, transforming raw information into usable insights for competition and cost reduction. * **Regulatory Compliance in AI Development:** The potential for AI to prescribe drugs and its role in claims denials emphasizes the paramount importance of regulatory compliance (e.g., FDA, 21 CFR Part 11) for any AI solution deployed in the healthcare sector, ensuring safety, efficacy, and ethical use. **Key Concepts:** * **Digital Twin:** A virtual replica of a physical entity (in this case, a patient) that can be used for simulations and testing, particularly for personalized drug prescriptions. * **GLP-1s (Glucagon-Like Peptide-1s):** A class of medications primarily used for treating type 2 diabetes and obesity, experiencing massive growth in demand and market impact. * **PBMs (Pharmacy Benefit Managers):** Third-party administrators of prescription drug programs for commercial health plans, self-insured employer plans, Medicare Part D plans, and other government programs. * **Cost Plus Model:** A drug pricing model where the cost of the drug is determined by its acquisition cost plus a small, transparent margin, often bypassing traditional insurance and rebate systems. * **Price Transparency:** The practice of making healthcare service and drug prices openly available to consumers, intended to foster competition and reduce costs. * **Telehealth:** The use of electronic information and telecommunications technologies to support long-distance clinical healthcare, patient and professional health-related education, public health, and health administration. **Examples/Case Studies:** * **FTC Lawsuit against PBMs:** The Federal Trade Commission is suing major PBMs (CVS's Caremark, Cigna's Express Scripts, and UnitedHealth Group's Optum RX) over alleged price-fixing and anti-competitive practices related to drug discounts and rebates. * **Luigi Manon Case:** Referenced as an example of AI's application in automated claims denials by insurance companies, contributing to public distrust in healthcare AI. * **Steak 'n Shake Beef Tallow Fries:** An example of a food industry company adopting a healthier cooking oil (beef tallow instead of vegetable oil) in response to broader public health discussions, aligning with the "Make America Healthy Again" initiative's focus on food systems.

123 views

43.6

Make America Healthy Againhealthcare transparency through executive ordersbeef tallow fries at Steak 'n Shake

11:20

Top 6 Communication Tactics in Healthcare

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Mar 9, 2025

This video provides an in-depth exploration of six key communication tactics specifically tailored for the healthcare industry. Dr. Eric Bricker, the presenter, begins by establishing the fundamental premise that successful interactions, whether for improving patient care or transforming healthcare, hinge on people's propensity to do business with those they like and trust. He introduces a framework from communication expert Dr. John Lund, which posits that recipients of communication are primarily concerned with three things: the potential for pain, the duration of the interaction, and the communicator's underlying objective. The presentation systematically categorizes communication into two main forms—speaking/listening (in-person, video, phone) and writing/reading (email, text)—and then combines these forms with Dr. Lund's three recipient concerns to create a matrix of six actionable tactics. For verbal communication, the video emphasizes the importance of one-on-one interactions for relationship building, the strategic use of enthusiasm, and the critical skill of active listening to make conversations less "painful." For written communication, particularly emails, tactics include optimizing send times and ensuring readability through larger font sizes, acknowledging the prevalence of mobile email consumption. The discussion then shifts to addressing the "how long" concern, advocating for concise conversations (10-15 minutes) and short meetings (under 30 minutes) to respect attention spans. Similarly, emails are advised to be brief, resembling text messages with approximately two sentences and 30 words, given the average 9-second read time. Finally, to clarify "what do you want," the video recommends setting clear expectations in conversations regarding tasks, responsibilities, and deadlines, ideally allowing the other person to set their own timeline. For emails, a clear, questioned call to action, highlighted for visibility, is presented as essential. Dr. Bricker concludes by stressing the importance of managing expectations for others' communication quality, acknowledging that healthcare organizations often struggle with miscommunication, and encouraging individuals to focus on controlling their own communication effectiveness. Key Takeaways: * **Build Liking and Trust for Success:** The foundation of effective communication in healthcare is building like and trust, which is crucial for improving patient care, fostering collaboration, and driving positive change within the industry. * **Address Core Recipient Concerns:** When communicating, always consider the other person's three primary, often subconscious, questions: "Is this going to be painful?", "How long is this going to take?", and "What do you want from me?". Tailor your approach to proactively alleviate these concerns. * **Prioritize One-on-One Interactions for Relationships:** For verbal communication, one-on-one conversations are paramount for forming genuine relationships, which Stephen Covey refers to as "production capability," essential for sustained and effective future communication. * **Cultivate Enthusiasm in Conversations:** Injecting enthusiasm into your verbal interactions, even when not naturally inclined, can make the conversation less painful for the recipient and can also be personally refreshing, contributing to a more positive exchange. * **Practice Active Listening:** To minimize the "pain" of a conversation for the other person, allow them to do the majority of the talking. Seek first to understand their perspective before attempting to convey your own. * **Optimize Email Timing and Readability:** Send emails earlier in the day and earlier in the week to maximize engagement before recipients experience email fatigue. Crucially, use a 14-16 point font (14pt is a recommended compromise) as 50-60% of work emails are read on mobile devices, and larger fonts improve readability, especially for those with vision challenges. * **Keep Conversations and Meetings Concise:** Respect attention spans by limiting conversations to 10-15 minutes and meetings to 30 minutes or less. This approach minimizes the perceived "pain" of long interactions and increases productivity. * **Draft Emails as Concise Text Messages:** Given that the average person spends only 9 seconds reading an email (approximately 25-30 words), structure your emails to be around two sentences and 30 words long, much like a text message, to ensure key information is absorbed. * **Clearly Define Expectations in Verbal Communication:** To address the "what do you want" concern, explicitly state who is responsible for what, what specific tasks need to be done, and by when. Whenever possible, allow the other person to set the deadline, as this fosters greater commitment and accountability. * **Implement a Clear Email Call to Action:** For written communication, place a clear call to action, phrased as a direct question (e.g., "Could you do this?"), within the second or third sentence of your email. Bold or underline this question to ensure it stands out and explicitly communicates your request. * **Manage Expectations for Others' Communication:** Recognize that a significant portion of the workforce (up to two-thirds, according to a Gallup poll) is disengaged, which often translates to poor communication. Maintain low expectations for others' communication quality but hold yourself to high standards, as you can only control your own actions. * **Acknowledge Widespread Miscommunication in Healthcare:** The video highlights that "all Healthcare organizations are essentially cesspools of miscommunication," underscoring the critical need for individuals to master these tactics to navigate and improve communication within this complex sector. Tools/Resources Mentioned: * **Daniel Kahneman's "Thinking Fast and Slow":** A book by the Nobel laureate in economics, referenced for insights into human decision-making and the importance of trust in business interactions. * **Dr. John Lund:** A communication expert whose framework on the three primary concerns of communication recipients (pain, time, want) forms a central pillar of the video's tactics. * **Stephen Covey's PPC Balance:** A concept (Production vs. Production Capability) used to illustrate the dual importance of achieving immediate tasks and building strong relationships in communication. * **Gallup Poll:** Referenced for statistics on employee engagement, indicating that a large percentage of employees are not engaged at work, which can impact communication effectiveness. Key Concepts: * **Recipient-Centric Communication:** An approach to communication that prioritizes understanding and addressing the needs and concerns of the person receiving the message. * **PPC Balance (Production vs. Production Capability):** A framework emphasizing that effective interactions not only achieve immediate goals (production) but also nurture the underlying relationships (production capability) that enable future collaboration. * **Introvert/Extrovert Communication Preferences:** The understanding that individuals' personality types can influence their preferred communication channels, with introverts often favoring written communication and extroverts preferring verbal. * **Low Expectations for Happiness:** A pragmatic philosophy suggesting that by setting realistic, often low, expectations for external factors (like others' communication quality), one can better manage personal satisfaction and focus on controllable actions.

3.2K views

46.7

1:09:59

Webinar: The Journey Towards Predictive FSQA Management

Agroknow

/@AgroKnow

Mar 4, 2025

This webinar, titled "The Journey Towards Predictive FSQA Management," delves into how AI and digital technologies are revolutionizing food safety and quality assurance (FSQA). Featuring industry experts Geert Van Kempen from Veeva and Giannis Stoitsis from Agroknow, the session, facilitated by Nikos Manouselis, explores the acceleration of AI deployments in food risk prevention since 2021. The discussion highlights the transformative impact of AI, not just in modeling and technological enablement, but also in data aggregation, combination, and the development of user-friendly front-end applications like chatbots. The speakers emphasize that while AI is rapidly changing industries, the core challenge in FSQA is to demonstrate its practical value to an audience primarily focused on preventing food safety incidents, rather than technology for its own sake. The conversation progresses by addressing common questions from the food industry, such as what peers are doing with AI, practical applications, and the challenges and pitfalls of adoption. Geert Van Kempen shares insights from Veeva's Product Summits, revealing that a "predictive state" in food safety is a high priority for industry leaders like Nestle, Mars, and Pepsi. These companies view it as a critical journey that cannot be undertaken alone, fostering collaboration within the non-compete space of food safety. Giannis Stoitsis corroborates this, stressing the need for robust data and software infrastructure to enable risk prevention, acknowledging the complexity while also pointing to valuable basic steps that can be taken. A significant point of agreement is that while the will to adopt predictive FSQA is strong, the practical implementation faces substantial hurdles, particularly around data integration and standardization. The webinar then dissects three practical use cases for AI in FSQA: mitigating external risks, monitoring internal production facilities, and managing supplier-related risks. For external risks, AI helps identify unexpected new threats from global supply chains by processing public data like recalls, border rejections, and inspection results to provide actionable alerts and forecast incident trends. Internally, AI aids in developing methodologies to assess factory-specific risks by integrating diverse data points—from audit findings and non-conformances to environmental monitoring and even non-classical quality data like absenteeism and training records—to generate leading indicators. Finally, for supplier risk management, AI combines external risk intelligence with internal data (audit performance, lab results) to create dynamic risk profiles, forecast potential hazards, and prioritize preventive measures, thereby shifting from reactive to proactive supplier management. The discussion concludes by reflecting on the broader adoption curve of AI, the level of trust required for automated decision-making (e.g., automatically delisting a supplier), and the call for pragmatism in starting the AI journey, focusing on quick returns while building foundational capabilities. Key Takeaways: * **Accelerated AI Adoption:** AI and predictive analytics have seen significant acceleration in food risk prevention since 2021, with applications like chatbots transforming how industries interact with vast amounts of knowledge. * **Three Pillars of Transformation:** AI's impact spans three core areas: advanced modeling, aggregation and utilization of diverse data, and innovative front-end applications that facilitate human interaction with these technologies. * **Industry Prioritization:** A "predictive state" in food safety is a top priority for leading food manufacturers, who see it as a significant enabler for improving food safety management from a reactive to a proactive stance. * **Collaboration is Key:** Food safety is widely recognized as a non-compete area, fostering collaboration among companies to share data and insights, as no single entity can tackle the problem alone. * **Data Infrastructure Challenges:** A major hurdle is the collection, integration, and harmonization of data, both external (public sector information from diverse sources, formats, languages) and internal (disparate LIMS, ERPs, quality systems). Data silos and lack of standardization (e.g., for food, hazard, or region classification) hinder effective analytics. * **Focus on Leading Indicators:** While traditional quality data provides lagging indicators, the true value of predictive FSQA lies in identifying leading indicators. This requires integrating non-classical data points like absenteeism, changeovers, and training records to anticipate risks. * **Practical Use Case - External Risk Mitigation:** AI can provide actionable alerts and forecast incident trends by analyzing global public data (recalls, border rejections, inspections), helping food safety teams design risk-based testing programs and share knowledge across large organizations. * **Practical Use Case - Internal Facility Monitoring:** AI helps assess risks within manufacturing environments by combining audit findings, non-conformances, analytical results, and environmental monitoring data to identify potential issues before they escalate. * **Practical Use Case - Supplier Risk Management:** AI combines external risk intelligence (forecasted hazards, non-compliances) with internal supplier performance data (audits, lab results) to create dynamic risk profiles, enabling proactive communication and targeted preventive measures. * **Digital Pipeline for Agility:** The industry aims to create a "digital pipeline" where risk information flows seamlessly from external intelligence platforms into internal quality management systems, enabling agile responses to emerging hazards and informing updates to HACCP plans. * **Trust in Automation:** A critical open question is the extent to which organizations will trust AI algorithms to make fully automated decisions with significant economic and public health impacts, such as automatically delisting a supplier. * **Start Pragmatically:** Companies are advised to start their AI journey with pragmatic initiatives that yield a quick return on investment, focusing on learning and building capabilities over time, as the benefits are significant and not adopting will lead to falling behind. * **Integrate Solutions, Not Just Data:** Beyond integrating data, there's a growing realization that integrating software solutions themselves is crucial to effectively support food safety and quality assurance experts, moving beyond "software silos." * **Preventable Crises:** Examples like lead contamination in cinnamon or allergen contamination in spices highlight how predictive technologies, by identifying increasing incident frequencies or known hazards, could have enabled proactive measures and prevented costly recalls. Tools/Resources Mentioned: * **Veeva Systems:** Described as a provider of cloud-based Quality Systems, specifically for the food and beverage industry in this context. * **Agroknow:** The channel host and a company specializing in AI and digital technologies for food safety and quality assurance. * **Predict System (USFDA):** A pilot program by the USFDA (started 2019) using data and machine learning algorithms to highlight risky seafood imports, now heavily deployed in US importing ports. * **Data Lake:** Mentioned as an infrastructure investment for consolidating data, but highlighted as insufficient without data standardization. Key Concepts: * **Predictive FSQA Management:** Shifting from reactive food safety and quality assurance (based on past incidents) to a proactive approach that anticipates future risks using data and AI. * **Leading vs. Lagging Indicators:** Leading indicators predict future events (e.g., absenteeism as a sign of stress leading to mistakes), while lagging indicators describe past events (e.g., audit findings, non-conformances). Predictive FSQA aims to leverage more leading indicators. * **Non-Compete Space:** The concept that certain areas, like food safety, are universally beneficial and should encourage collaboration among competitors rather than competition. * **Data Silos:** Disconnected data storage and management systems within an organization, hindering comprehensive analysis and integration. * **Data Harmonization/Standardization:** The process of making data from different sources consistent and compatible, crucial for effective AI and analytics.

46 views

40.6

food safetypredictive analyticsrisk predictions

32:35

The PranaTech Podcast: Episode 9

The PranaTech Podcast

/@ThePranaTechPodcast

Feb 7, 2025

This video explores the critical role of Quality Management Systems (QMS) and the transformative impact of automation and AI within the medical device industry, particularly for startups. Featuring Axel Strombergsson of Veeva Systems, the discussion highlights how early investment in robust, compliant systems is not merely a regulatory burden but a strategic imperative for efficiency, risk reduction, and long-term business success. The conversation delves into the practicalities of QMS implementation, the necessity of comprehensive customer discovery, and the exciting future of AI in predictive healthcare. Key Takeaways: * **QMS as a Strategic Investment:** A robust Quality Management System (QMS), particularly an Electronic QMS (EQMS) like Veeva's QuickVault, is presented as the backbone of any MedTech company. It's an essential investment from day one that protects patients, enhances company valuation, and ensures operational efficiency, rather than just a regulatory checklist. * **Automation for Efficiency and Compliance:** Modern software solutions and automation are game-changers for MedTech companies, significantly increasing efficiency, saving time, and reducing risks associated with documentation gaps. Automated regulatory processes can lower the knowledge barrier for compliance, enabling startups to move faster and more accurately. * **Regulatory Compliance Impacts M&A:** Beyond market entry, strong regulatory compliance and a well-documented QMS are crucial for future business success, especially during acquisition scenarios. Acquirers conduct thorough due diligence on QMS, and deficiencies can lead to reduced acquisition value or even deal termination. * **Comprehensive Customer Discovery is Paramount:** Startups often fail due to insufficient customer discovery. It's vital to engage not only end-users (e.g., surgeons) but also all key stakeholders, including payers, IT departments, and hospital value analysis committees, to understand the full economic and operational landscape of the device. The NIH i-Corps program's minimum of 100 stakeholder interviews is cited as a benchmark. * **AI's Predictive Power in Digital Health:** The fastest-growing area in medical devices is digital health, driven by AI and machine learning. The most significant disruption and growth are anticipated in technologies that can *predict* future disease states, shifting the focus from treating existing conditions to proactive prevention, as exemplified by AI in radiology for early disease detection. * **"Do It Right The First Time" Mentality:** For early-stage startups, adopting a proactive approach to quality and regulatory affairs from the outset is critical. This involves building proper infrastructure, seeking appropriate training and support, and leveraging external expertise to guide the team, ultimately leading to fewer re-dos and a smoother path to commercialization.

110 views

50.1

22:21

Know about Vault CRM - A discussion with @anirban

Learn more about Veeva

/@amirthadeepann9598

Jan 20, 2025

This video provides a comprehensive discussion on the ongoing migration from Veeva CRM (Salesforce-based) to the new Vault CRM, detailing the reasons behind this strategic shift by Veeva Systems, its phased implementation from 2025 to 2030, and the implications for pharmaceutical commercial operations. The speakers highlight the differences between the two platforms, emphasizing that Vault CRM leverages the native Veeva Vault architecture, which simplifies integration with other Vault applications like PromoMats and MedComms. A significant portion of the discussion is dedicated to the transformative AI use cases within the Veeva ecosystem, covering content automation, medical inquiry handling, and sales force effectiveness. The conversation also touches on the current adoption rates among pharma companies and the critical need for professionals to acquire Vault platform expertise. Key Takeaways: * **Strategic Platform Shift:** Veeva Systems is migrating its CRM offering from a Salesforce-dependent platform to a native Vault CRM by 2030, driven by a strategic decision to break ties with Salesforce, impacting all commercial operations in pharma. * **Enhanced Integration & Efficiency:** Vault CRM offers simplified, native integration with other Veeva Vault applications (e.g., PromoMats, MedComms), streamlining workflows for promotional material creation, distribution, and medical inquiry management, leading to improved operational efficiency and cost savings. * **AI-Driven Commercial & Medical Operations:** AI and LLM solutions are being actively integrated into the Veeva ecosystem to automate content tagging and compliance checks in PromoMats, power chatbots for faster medical inquiry responses in MedComms, and provide AI-generated "next best action" suggestions for sales reps in Vault CRM. * **Upskilling Imperative for Professionals:** The migration necessitates that professionals with Veeva CRM experience, particularly those involved in CLM and approved email templates, must acquire deep knowledge of the Veeva Vault platform to remain effective and capitalize on new opportunities. * **Early Adoption by Pharma:** Over 10 major pharmaceutical companies have already initiated the migration to Vault CRM, indicating a significant industry trend and a growing demand for Vault-specific expertise in consulting and development.

440 views

45.7

8:49

Healthcare Tax ID Numbers - Scam or Fair?

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Jan 20, 2025

This video provides an in-depth exploration of healthcare Tax ID Numbers (TINs) and their strategic, often controversial, use by physician practices and private equity firms to influence reimbursement rates. Dr. Eric Bricker, the presenter, begins by establishing the fundamental role of TINs as unique identifiers for healthcare providers on claims submitted to insurance companies. He explains that these nine-digit numbers act as a "license plate" for individual physician practices, group practices, or hospital systems, enabling insurance companies to link claims to specific contracts and, consequently, determine the reimbursement amount. The discussion progresses to highlight how reimbursement rates can vary significantly between different TINs, even for the same service. This differential is particularly pronounced in commercial insurance and Medicare Advantage plans, where specific contracts dictate payment rates, unlike traditional Medicare or Medicaid where rates are government-set. Bricker then introduces the "rollup strategy," a tactic employed by private equity firms that acquire multiple physician practices. Under this strategy, all acquired practices begin billing under the TIN of the practice that historically secured the highest reimbursement rates from insurers. This effectively elevates the payment for services across all rolled-up entities, regardless of their original, lower contracted rates. The video illustrates this strategy with prominent real-world examples, detailing lawsuits filed by major insurers. Aetna sued Radiology Partners in Florida, alleging that the firm billed all services through the TIN of a high-paying practice called mbb, even when services were rendered by other, lower-paying acquired practices. Similarly, UnitedHealthcare took legal action against Radiology Partners in Texas for allegedly using the TIN of a Houston-based practice, Singleton, to maximize reimbursement. Bricker emphasizes that while these cases are ongoing and legally complex, the core outcome of such strategies is an increase in healthcare costs for patients and employers, with no inherent incentive for private equity or providers to reduce costs. He concludes by arguing that the debate over "fair" or "unfair" reimbursement is subjective and unproductive, advocating instead for radical price transparency and market-driven negotiations to determine healthcare costs. Key Takeaways: * **Tax ID Numbers (TINs) are Central to Reimbursement:** TINs serve as the primary identifier for healthcare providers on claims, directly linking services to specific insurance contracts and dictating the reimbursement amount. Understanding this mechanism is fundamental to healthcare finance. * **Reimbursement Rates Vary Significantly by Provider:** Different physician practices or groups, identified by unique TINs, can have vastly different contracted reimbursement rates with the same insurance company for identical services. This disparity creates opportunities for strategic billing. * **Private Equity's "Rollup Strategy":** Private equity firms acquire multiple physician practices and consolidate their billing under a single TIN belonging to the practice with the highest reimbursement rate. This strategy aims to maximize revenue across the consolidated entity. * **Increased Healthcare Costs:** The "rollup strategy" inherently leads to higher healthcare costs for employer-sponsored insurance and Medicare Advantage plans, as services that would have been reimbursed at lower rates are now billed at the highest available rate. * **Legal Challenges and Allegations of Fraud:** Insurance companies like Aetna and UnitedHealthcare have sued large physician groups (e.g., Radiology Partners) for allegedly using the rollup strategy, claiming it constitutes fraud by billing for services not performed at the location or under the contract associated with the high-paying TIN. * **Focus on Commercial and Medicare Advantage:** The strategic use of TINs for differential reimbursement primarily applies to commercial insurance and Medicare Advantage plans, where rates are negotiated. It does not significantly impact traditional Medicare or Medicaid, where rates are government-set. * **Lack of Incentive for Cost Reduction:** Neither private equity firms nor the physician practices involved in these rollup strategies have an inherent interest in decreasing healthcare costs; their primary objective is to maximize revenue and profitability. * **Subjectivity of "Fairness":** The speaker argues that the concept of a "fair" reimbursement rate is subjective and manipulative in negotiations. Instead, he advocates for a market-based approach where prices are determined by agreement between parties or by walking away from a deal. * **Crucial Need for Price Transparency:** The fundamental problem highlighted is the lack of price transparency for the ultimate payers—patients and employers. Making prices transparent would allow the market to function more effectively and enable informed decision-making. * **Market-Driven Pricing as the Solution:** The video advocates for allowing the market, through transparent negotiation between providers and insurers, to determine prices, rather than relying on an elusive concept of "fairness." Key Concepts: * **Tax ID Number (TIN):** A nine-digit number used by the IRS to identify businesses and individuals for tax purposes, also used in healthcare to identify providers on claims and link to specific insurance contracts for reimbursement. * **Rollup Strategy:** A business strategy, particularly in private equity, where multiple smaller companies (e.g., physician practices) are acquired and consolidated into a larger entity to achieve economies of scale, market dominance, or, as discussed, leverage higher reimbursement rates. * **Price Transparency:** The practice of making the costs of healthcare services readily available and understandable to patients and other payers before services are rendered, enabling informed choices and fostering market competition. Examples/Case Studies: * **Radiology Partners:** A large radiology practice cited as a "poster child" for the rollup strategy. * **Aetna vs. Radiology Partners (Florida):** A lawsuit alleging that Radiology Partners billed all services through the high-reimbursement TIN of a Florida practice called mbb, regardless of where the services were actually performed. * **UnitedHealthcare vs. Radiology Partners (Texas):** A similar situation where UnitedHealthcare sued Radiology Partners for allegedly using the high-reimbursement TIN of a Houston-based practice called Singleton to bill for services from other acquired practices.

1.8K views

42.6

22:21

Veeva CRM to Vault CRM || Uncover Some Incredible Insights Of Vault CRM

Anitech Talk

/@AnitechTalk

Jan 19, 2025

This video explores the significant strategic shift as Veeva CRM begins its migration to Vault CRM, breaking its long-standing tie-up with Salesforce by 2025-2030. The discussion highlights the technical differences between the Salesforce-based Veeva CRM and the native Veeva Vault-based CRM, emphasizing the advantages of a unified Vault ecosystem for pharmaceutical commercial operations. It delves into the impact on various commercial applications like PromoMats and MedComs, the simplification of integrations, and the current adoption rates among pharma companies. A key segment also focuses on the burgeoning role of AI within Veeva applications, showcasing specific use cases that enhance efficiency, compliance, and customer engagement in the life sciences industry. Key Takeaways: * **Strategic Platform Migration:** Veeva is undertaking a major architectural shift by migrating Veeva CRM from a Salesforce-dependent platform to its native Vault CRM, with a complete transition targeted by 2030. This move aims to consolidate Veeva's offerings within a unified Vault ecosystem. * **Enhanced Integration & Cost Efficiency:** The migration to Vault CRM simplifies integrations, particularly for other commercial Vault applications like PromoMats and MedComs, by enabling "Vault-to-Vault" connections. This unification can lead to significant cost savings through cross-training and optimized resource utilization. * **Impact on Commercial Operations & Skill Development:** The shift directly affects commercial applications, requiring professionals working with tools like Closed Loop Marketing (CLM) and Approved Emails to acquire new Vault knowledge. This creates a substantial opportunity for Veeva CRM resources to upskill in Vault applications. * **Accelerated Market Adoption:** Over 10 major pharmaceutical companies have already initiated their migration to Vault CRM, indicating a growing industry trend and a clear demand for expertise in the new platform. * **AI Integration for Life Sciences:** The video highlights concrete AI use cases within Veeva's ecosystem * **MedComs:** AI-powered chatbots to handle routine medical inquiries from Healthcare Professionals (HCPs), drafting responses and reducing turnaround times. * **Vault CRM:** AI-generated "next best action" suggestions for sales representatives, optimizing engagement with high-priority doctors. * **Unified User Experience:** Vault CRM will feature a consistent "Vault view," providing a familiar user interface for those already accustomed to other Veeva Vault applications, potentially improving user adoption and reducing training overhead.

1.6K views

51.4

VeevaVaultVeeva Vault

12:46

Doctors Can't Own Hospitals... Why the Stark Law Is a Joke.

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Jan 12, 2025

This video provides an in-depth exploration of the Stark Law, a federal regulation designed to prevent physician self-referral, and argues that its original intent has been largely undermined by various loopholes and compensation structures. Dr. Eric Bricker, the speaker, begins by outlining the Stark Law's 1989 origins, which prohibited doctors receiving Medicare funds from referring patients to medical facilities they own. The law's primary motivations were to prevent "cherry-picking" (treating only high-paying commercial insurance patients), "lemon-dropping" (avoiding complex or less lucrative patients), and "overutilization" (ordering excessive and unnecessary tests or procedures, thereby increasing healthcare costs). The Affordable Care Act (ACA) further solidified these restrictions by closing a loophole, allowing only grandfathered physician-owned hospitals to continue operating. Despite its noble intentions, Dr. Bricker contends that the Stark Law is effectively a "joke" due to widespread circumvention. He details three primary mechanisms: first, "Safe Harbors" that permit surgeons and proceduralists (like gastroenterologists) to self-refer to ambulatory surgery centers (ASCs) they own. Second, the existence of joint venture hospitals where physicians hold minority ownership stakes, creating similar financial incentives for self-referral, cherry-picking, and overutilization. Third, and most prominently, the prevalent RVU-based (Relative Value Unit) compensation system for physicians employed by hospitals, which essentially pays doctors on commission. This structure directly links physician pay to the volume of services they perform and order, creating the very financial biases the Stark Law was designed to prevent. The speaker shifts the focus from the debate over who owns hospitals (doctors versus administrators) to a more fundamental question: "Does whoever is running the hospital put the patient first?" He argues that both doctors and administrators are equally capable of prioritizing or neglecting patient interests. The core issue, according to Dr. Bricker, is not the ownership structure but the pervasive financial misalignment within the healthcare system, which he characterizes as a "human battle for money and power." He criticizes the common "no margin, no mission" mantra, proposing instead "no mission, no dice" – meaning if patient care isn't prioritized, the entity shouldn't participate in healthcare. To address this systemic problem, Dr. Bricker proposes two practical solutions centered on transparency. First, complete transparency in compensation incentives, not necessarily revealing exact salaries but clearly communicating *how* doctors and hospital administrators are paid, particularly the percentage of compensation tied to patient care. This information, he suggests, should be readily available on hospital websites. Second, transparent accountability for clinical policies. Drawing an analogy to the Sarbanes-Oxley Act, which requires CEOs to sign off on financial statements, he advocates for a system where specific individuals (including those at insurance companies like United and Optum) publicly sign off on clinical policies, making them personally liable and fostering more responsible decision-making. Key Takeaways: * **Stark Law's Original Intent:** The Stark Law, passed in 1989, aimed to prevent physician self-referral to facilities they own, thereby curbing practices like "cherry-picking" (only treating high-paying patients), "lemon-dropping" (avoiding difficult patients), and "overutilization" of tests and procedures. * **Widespread Circumvention:** Despite its intent, the Stark Law is routinely circumvented, rendering it largely ineffective in preventing financial biases in physician decision-making. * **Safe Harbors for ASCs:** A significant loophole, known as "Safe Harbors," allows surgeons and proceduralists (e.g., gastroenterologists) to legally own and self-refer patients to Ambulatory Surgery Centers (ASCs), directly contradicting the law's spirit. * **Joint Venture Hospitals:** Doctors can be minority owners in joint venture hospitals with larger hospital systems, creating similar financial incentives for self-referral and potentially excessive care, even if they don't hold majority ownership. * **RVU-Based Compensation:** The most prominent circumvention is the RVU-based compensation model for employed physicians, which pays doctors more for performing more services, essentially functioning as a commission system that incentivizes overutilization. * **Financial Misalignment is the Core Issue:** The speaker argues that the debate over whether doctors or administrators own hospitals is a distraction; the real problem is the inherent financial misalignment that exists regardless of ownership structure. * **Prioritizing the Patient:** The fundamental question should be whether the individuals or entities in charge of healthcare delivery prioritize the patient's well-being above financial gain. * **Transparency in Compensation:** A crucial solution involves making compensation incentives completely transparent, publicly detailing *how* doctors and hospital administrators are paid, especially the percentage linked to patient care outcomes or volume. * **Transparency in Accountability for Clinical Policies:** Clinical decisions and policies made at hospitals and even insurance companies should have specific individuals publicly sign off on them, similar to Sarbanes-Oxley requirements for financial statements. * **Sarbanes-Oxley as a Model:** The Sarbanes-Oxley Act's principle of personal liability for financial statements could be adapted to clinical policies, ensuring that those making critical healthcare decisions are publicly accountable. * **"No Mission, No Dice" Philosophy:** The speaker advocates for replacing the "no margin, no mission" adage with "no mission, no dice," emphasizing that if patient care is not the primary mission, an organization should not be allowed to participate in healthcare. * **Broad Applicability:** These transparency and accountability principles should apply to all healthcare entities, including large hospital corporations (e.g., HCA, Tenet), and health insurance companies (e.g., United, Optum) that employ physicians or own healthcare facilities. * **Underlying Power Struggle:** The speaker views the current healthcare landscape as an ongoing "human battle for money and power," where whoever controls the finances ultimately dictates the rules.

4.1K views

52.2

17:09

Interview Q&A

Learn more about Veeva

/@amirthadeepann9598

Jan 7, 2025

This video provides a comprehensive guide for preparing for a Veeva Vault interview, focusing on both theoretical knowledge and practical, scenario-based questions. The speaker emphasizes the importance of clearly articulating one's experience, particularly in Veeva Vault, and being prepared to discuss challenges faced and solutions implemented. Key technical areas highlighted for strong preparation include bulk actions, loaders, document field configuration, DAC (Document Access Control), user creation and permission sets, life cycle configurations (user and entry actions, atomic security), workflow configuration (object and document workflows), package deployment, object configuration, REST API, and migration. Beyond core configurations, the video delves into common interview scenarios, such as updating metadata for numerous documents, creating and sharing metadata fields, understanding document field dependencies, and managing user access (SSO/non-SSO). It also covers support-related scenarios like responding to outages and resolving configuration issues, stressing the importance of knowing where to seek help (Veeva help page, product tickets, Veeva Connect). Integration topics, including pushing documents to downstream applications and leveraging REST APIs for backend activities, are also discussed. The speaker advises candidates to stay updated with Veeva release notes, understand new "auto-on" features, and be familiar with release impact assessments. Furthermore, for specialized roles, domain knowledge in specific Vaults like Regulatory or Clinical is deemed crucial, alongside certifications and strong configuration skills, especially at the object level. Key Takeaways: * **Veeva Vault Technical Mastery:** Interview success hinges on a deep understanding and ability to explain core Veeva Vault functionalities like DAC, life cycles, workflows, object configuration, and package deployment. * **Hands-on & Scenario-Based Experience:** Candidates must demonstrate practical experience by effectively addressing scenario-based questions related to bulk updates, field dependencies, user access management, and integration challenges. * **Integration and API Proficiency:** Knowledge of Veeva's integration capabilities, particularly using REST APIs for backend operations and connecting with downstream applications, is a significant advantage. * **Regulatory and Domain Awareness:** For specialized roles, a foundational understanding of specific Veeva Vault domains (e.g., Regulatory Vault, Clinical Vault) and their associated industry processes is essential. * **Continuous Learning & Support Acumen:** Staying current with Veeva release notes, new features, and knowing how to troubleshoot and escalate support issues (e.g., outages, configuration problems) are critical for demonstrating comprehensive capability.

657 views

62.6

12:26

3 Secrets to Ochsner Hospital System Success

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Jan 5, 2025

This video provides an in-depth exploration of Ochsner Health System's remarkable success in simultaneously lowering healthcare costs and improving patient care quality. Dr. Eric Bricker, the speaker, highlights Ochsner's strategic shift from a reactive, fee-for-service model to a proactive, value-based approach, driven by their unique payer mix in the Gulf South region. The core message revolves around three "secrets" that enabled Ochsner to save $56 million in one year for 500,000 patients, re-investing $45 million into provider bonuses, while achieving significantly better health outcomes for chronic conditions like diabetes and hypertension. The presentation details Ochsner's methodology, starting with a deliberate effort to reduce costly ER visits and inpatient hospitalizations by moving care into outpatient settings. This involved leveraging data and analytics to identify specific patient populations and pathologies, establishing strong primary care relationships for behavior modification and chronic disease management, and ensuring seamless outpatient care coordination. The second secret involves Ochsner taking on financial risk for the total cost of care for their patient population, effectively "owning" the entire care continuum. This allowed them to capture savings from reduced hospitalizations and increase their overall revenue by efficiently managing a larger patient panel in less expensive outpatient environments. The third and most impactful secret is Ochsner's success in actively decreasing pathology—preventing disease, suffering, and death. The video cites impressive statistics: 88% of diabetic patients achieved controlled A1c levels (compared to a national average of 50-60%), and 85% of hypertensive patients had controlled blood pressure (versus a national average of 20%). This proactive disease management directly led to fewer heart attacks and strokes, demonstrating that financial incentives can align with dramatic improvements in patient health. Dr. Bricker emphasizes that Ochsner's innovation was spurred by a necessity born from a predominantly Medicare and Medicaid patient base, which offers significantly lower reimbursement rates compared to commercial insurance, forcing them to find efficiencies that other systems, cushioned by high commercial reimbursements, often avoid. Key Takeaways: * **Strategic Shift to Outpatient Care:** Ochsner's first secret involves a deliberate strategy to decrease ER visits and inpatient hospitalizations by shifting care to proactive, outpatient settings. This includes using data and analytics to target specific populations and pathologies, strengthening primary care, and enhancing outpatient care coordination. * **Embracing Financial Risk for Total Care:** The second secret highlights Ochsner's willingness to take on financial risk for the entire patient population's care. This "total cost of care" model allows them to benefit financially from efficiencies and improved outcomes, contrasting sharply with the traditional fee-for-service model where revenue increases with more procedures and hospitalizations. * **Prioritizing Disease Prevention (Decreasing Pathology):** Ochsner's ultimate success stems from its focus on preventing disease rather than just treating it more efficiently. By improving the control of chronic conditions like diabetes and hypertension, they reduced the incidence of severe events like heart attacks and strokes, leading to better patient health and lower overall healthcare costs. * **Significant Cost Savings and Reinvestment:** Through these strategies, Ochsner achieved $56 million in cost savings in one year for 500,000 patients. A substantial portion ($45 million) was reinvested as bonuses for doctors and other healthcare providers, aligning financial incentives with quality and efficiency. * **Dramatic Improvement in Chronic Disease Management:** The system demonstrated exceptional clinical outcomes, with 88% of diabetic patients achieving controlled A1c levels (compared to a national average of 50-60%) and 85% of hypertensive patients having controlled blood pressure (versus a national average of 20%). * **Data and Analytics as a Foundation:** Ochsner utilized data and analytics to identify and target specific individuals and populations for proactive intervention, underscoring the critical role of data-driven insights in modern healthcare optimization. * **Payer Mix as an Innovation Catalyst:** The video posits that Ochsner's innovation was largely driven by its challenging payer mix, with a high proportion of lower-reimbursing Medicare and Medicaid patients. This financial pressure forced them to find new ways to deliver care efficiently, unlike systems reliant on high commercial insurance reimbursements. * **The "Peter Drucker" Principle in Healthcare:** The speaker invokes Peter Drucker's quote, "It is completely useless to do more efficiently what should not be done at all," to emphasize that true healthcare innovation lies in preventing pathology rather than just optimizing the treatment of existing diseases. * **Increased Revenue Through Efficiency:** By being more efficient and effective in outpatient care, Ochsner was able to care for a larger panel of patients, increasing its total revenue despite decreasing the cost per patient. This demonstrates that financial success can be achieved through improved health outcomes and expanded patient reach. * **Implications for the Broader Healthcare Ecosystem:** Ochsner's model challenges the status quo of many hospital systems that remain reactive due to the financial cushion of high commercial reimbursements. It suggests a path for aligning financial incentives with patient health outcomes, which has significant implications for how pharma, medical device, and other life sciences companies engage with healthcare providers. Key Concepts: * **Fee-for-Service:** A traditional payment model where providers are paid for each service they perform (e.g., office visit, test, procedure). * **Value-Based Care:** A payment model that rewards healthcare providers for the quality of care they provide, rather than the quantity of services. It often involves taking on financial risk for patient outcomes. * **Pathology:** The study of disease; in this context, refers to the presence and progression of disease. * **Hemoglobin A1c:** A blood test that measures a person's average blood sugar level over the past 2-3 months, used to monitor diabetes control. * **Hypertension Control:** Managing high blood pressure to keep it within healthy limits, crucial for preventing heart attacks and strokes. * **Medical Loss Ratio (MLR):** The percentage of premium revenue that an insurance company spends on medical care and quality improvement activities. Examples/Case Studies: * **Ochsner Health System:** A large health system in New Orleans, Louisiana, and across the Gulf South, with over 40 facilities, serving 500,000 patients. The video details their specific strategies and outcomes in transitioning to a value-based, proactive care model.

3.3K views

50.0

18:26

Spencer's Guide To LinkedIn In 2025

Self-Funded

@SelfFunded

Jan 2, 2025

This video provides an in-depth exploration of building an effective LinkedIn presence for sales professionals and career advancement, particularly within the healthcare industry. The speaker, Spencer, shares his personal journey from an anonymous insurance representative to a recognized industry authority through consistent social media content creation. He emphasizes that anyone, regardless of their starting point or industry experience, can leverage platforms like LinkedIn to establish credibility, generate leads, and foster professional relationships. The presentation is structured as a practical guide, moving from foundational steps to more advanced strategies, while also addressing common fears and pitfalls that hinder individuals from starting their content creation journey. Spencer's approach is highly practical and empathetic, acknowledging the initial apprehension many feel about public posting. He outlines a stair-step method, starting with low-barrier-to-entry activities like commenting on others' posts, and gradually progressing to creating original written content, incorporating visuals, and eventually producing video or podcast appearances. A core theme is the importance of authenticity and sharing personal stories to build trust and relatability, which he argues is crucial for doing business in today's environment. He also champions the concept of "exponential awareness," where a single piece of content can generate perpetual value and reach a far wider audience than traditional cold outreach methods. The video details specific strategies for maximizing LinkedIn's potential, such as using compelling visuals to stop scrolling, leveraging guest appearances on podcasts to gain exposure, and strategically engaging with industry leaders. Spencer shares several compelling anecdotes, including how his first video on a niche subject (stop loss insurance) trended in the top 1% on LinkedIn, and a personal story about a high ER bill that became his most viral post, leading to new connections and solutions. He also recounts a direct sales success story where a client was pre-sold on his expertise simply because they recognized him from his podcast, highlighting the immense power of established credibility. The speaker concludes by stressing the importance of consistency and resilience, cautioning against the common mistakes of over-investing in equipment, striving for unattainable perfection, or giving up too soon due to a lack of immediate engagement. Key Takeaways: * **Start Small and Overcome Fear:** Many professionals hesitate to start social media content creation due to fear. Begin with low-barrier activities like commenting on other people's posts to build confidence and gradually escalate to more involved content. * **Optimize Your LinkedIn Profile:** Ensure your LinkedIn profile is complete with a professional picture, a detailed "About Me" section, and an updated resume. This forms the foundational hub for your online professional presence. * **Strategic Commenting for Network Expansion:** Actively comment on posts from respected industry figures or target prospects. Provide genuine value, perspective, or opinion to establish yourself as a credible authority and expand your reach into their networks. * **Consistent Content Creation:** Aim to write at least one post or article per week on topics you are knowledgeable about. This consistent cadence helps establish your expertise and keeps your audience engaged. * **Utilize Visuals to Enhance Engagement:** Always include a visual element (picture, graphic, or short video) with your posts. Visuals are crucial for stopping users from scrolling and drawing them into your written content. * **Leverage Guest Appearances on Podcasts:** Seek opportunities to be a guest on industry-relevant podcasts. This allows you to showcase your expertise without the burden of production, providing shareable content and expanding your reach. * **Embrace Personal Storytelling:** Share relatable personal stories, experiences, or insights (within your comfort level) to build trust and rapport. People connect with authentic human experiences, which can significantly enhance your professional relationships. * **Avoid Perfectionism and Over-Investment:** Do not delay content creation by striving for perfection or investing heavily in expensive equipment. Your smartphone and basic accessories (like a tripod and ring light) are sufficient to start; imperfections make content more relatable. * **Prioritize Consistency Over Immediate Results:** Building an audience and achieving impact takes time. Do not give up too soon if initial posts don't gain traction; consistency over months and years is key to long-term success. * **Exponential Awareness for Sales:** Social media content creates "exponential awareness," allowing a single effort (e.g., one video) to reach thousands and generate perpetual benefit, significantly amplifying your sales efforts compared to one-to-one cold outreach. * **Content Builds Credibility and Trust:** A strong online presence establishes credibility before you even meet a prospect, making them more receptive to your message and significantly shortening the sales cycle. * **Learn from Industry Leaders:** Follow and observe successful content creators in your industry. Analyze their styles, topics, and engagement strategies to inform your own approach without needing formal coaching. **Tools/Resources Mentioned:** * **iPhone:** Recommended as the primary device for video and content creation, negating the need for expensive cameras. * **Amazon:** Suggested source for affordable tripods and ring lights. * **Nathaniel:** An editor mentioned as a resource for video editing. * **Goodbill:** A company mentioned in Spencer's personal story that helped lower his medical bill. **Key Concepts:** * **Exponential Awareness:** The idea that a single piece of content, once published, can continuously reach a vast audience over time with minimal ongoing effort, generating leads and building authority far beyond one-to-one outreach. * **Self-Selecting into Your Ecosystem:** When prospects discover your content and proactively engage with you, signaling their interest and effectively "opting in" to learn more about what you offer, leading to warmer leads. **Examples/Case Studies:** * **First Viral Video:** Spencer's initial video on the niche subject of "stop loss and insurance," created with an iPhone and no prior experience, trended three times in the top 1% of all LinkedIn content, demonstrating that niche topics can find an audience. * **$4,200 ER Bill Post:** A personal story shared by Spencer about receiving a large, unexpected bill for his son's urgent care visit, accompanied by a picture of him and his son. This post became his most viral, generating significant engagement, new connections, and even leading to a service (Goodbill) that helped reduce the bill. * **Kansas City Broker Sales Conversion:** A direct sales example where a young producer in a meeting recognized Spencer from his podcast, immediately establishing credibility. This rapport led to a contract being signed with the agency before Spencer even returned home, illustrating the power of a pre-established reputation.

484 views

52.6

Social Media Salessocial medialinkedin

6:01

Thoughts on being employed in the year 2025 in the Quality Management System Space

Michael A Delitala

/@MichaelADelitala

Dec 30, 2024

This video features Michael A. Delitala, an experienced Quality Management System (QMS) professional and author, discussing the challenges faced by seasoned experts in landing corporate roles, particularly within the pharmaceutical and life sciences sectors. He highlights his extensive experience as a project and business lead for implementing computerized QMS, specifically mentioning Veeva, Digital Trackwise, and SAP, as well as developing an "artificially intelligent natural language processing machine learning AI deviation trending tool." Delitala expresses frustration over immediate rejections despite being highly qualified for numerous open Veeva positions, attributing this to potential issues with AI resume screening bots, hiring managers' unclear requirements, or companies' reluctance to pay competitive salaries for experienced talent. He provocatively suggests that unless hired, he will publish a detailed guide revealing industry secrets for implementing Veeva and Digital Trackwise QMS. Key Takeaways: * **High Demand for Veeva & Trackwise Expertise:** The video underscores the significant presence and demand for expertise in Veeva and Digital Trackwise within the QMS space, critical platforms for pharmaceutical and life sciences companies. * **AI's Role in QMS and Hiring:** The speaker's personal experience with an "AI deviation trending tool" demonstrates practical AI applications in quality management. Concurrently, his hypothesis that AI resume screening bots are hindering experienced candidates points to both the potential and current limitations of AI in talent acquisition for specialized roles. * **Value of Deep Industry Knowledge:** The speaker's frustration highlights a potential disconnect between the need for deep, practical knowledge in regulated QMS implementations and the current hiring processes, which may undervalue extensive experience. * **Opportunity for Knowledge Transfer/Consulting:** The speaker's "threat" to publish detailed implementation guides for Veeva and Trackwise suggests a market need for accessible, practical guidance and consulting services for these complex systems. * **Market Dynamics for Specialized Talent:** The discussion on salary expectations and the perceived preference for younger, less expensive talent reveals a challenging market dynamic for highly experienced professionals in critical compliance and operations roles.

47 views

44.8

14:12

$5.8 Billion Healthcare Startup Teaches About Patient Engagement

AHealthcareZ - Healthcare Finance Explained

@ahealthcarez

Dec 29, 2024

This video provides an in-depth exploration of how Hims & Hers, a $5.8 billion direct-to-consumer (DTC) telemedicine company, has achieved massive success through innovative approaches to patient and employee engagement. Dr. Eric Bricker begins by highlighting Hims & Hers' impressive financial performance, including $402 million in quarterly revenue, $51 million in profit, and 2 million subscribing customers, emphasizing that their success stands out in a landscape of failing healthcare startups. The core of the presentation focuses on dissecting the unique strategies employed by Hims & Hers, founded by "healthcare outsider" Andrew Dudum, and extrapolating these lessons for traditional healthcare entities like Direct Primary Care (DPC) clinics and employer-sponsored health plans. The presentation delves into four key pillars of Hims & Hers' success, which align with the "Four Ps" of business: Product, Price, Placement, and Promotion. Firstly, the "Product" is highly differentiated, with completely separate websites and tailored offerings for men (Hims) and women (Hers), addressing specific health concerns like sexual function, hair growth, weight management, and mental health with targeted prescriptions and services. Secondly, their "Promotion" strategy is aggressive and data-driven, allocating 45% of revenue to marketing across diverse media channels, underscoring the critical role of communication in customer acquisition and engagement. Thirdly, "Placement" is optimized through a seamless internet-to-home-delivery experience, eliminating traditional healthcare friction points by integrating telehealth visits, online prescriptions, and discreet home delivery. Finally, "Price" is transparent and flexible, with upfront cash-pay options ranging from $15 to $115 per month, condition-specific pricing, and effective cross-selling strategies that encourage customers to explore additional services. Dr. Bricker then translates these DTC principles into actionable advice for DPC clinics and employer-sponsored health plans. He advocates for adopting gender-specific messaging and service offerings, significantly increasing marketing and communication budgets, prioritizing a seamless digital-first patient journey, and implementing flexible, transparent pricing models with opportunities for cross-selling. The video emphasizes that people want their health problems solved efficiently, not necessarily the traditional "experience of seeing a doctor," and that healthcare providers and benefit plans must adapt to consumer expectations shaped by successful DTC models. The overarching message is that by embracing these consumer-centric strategies, traditional healthcare can dramatically improve patient engagement and utilization of services. Key Takeaways: * **Tailored Product Offerings:** Hims & Hers demonstrates the power of gender-specific health offerings, with distinct websites and services for men (Hims) and women (Hers) that cater to their unique health priorities (e.g., sexual function and hair for men; weight and wellness for women). This highlights the need for personalized product-market fit in healthcare. * **Strategic Marketing Investment:** A significant portion of revenue (45%) is dedicated to marketing across numerous channels, emphasizing that robust communication and promotion are paramount for success and engagement, not just service quality. Traditional healthcare entities often underinvest in this area. * **Seamless Digital-First Experience:** Hims & Hers provides an end-to-end digital journey from telehealth consultation to online prescription fulfillment and discreet home delivery. This frictionless "internet-to-home" model prioritizes convenience and problem-solving over traditional, often cumbersome, healthcare processes. * **Transparent and Flexible Pricing:** The company operates on a cash-pay model with upfront, condition-specific pricing ranging from $15 to $115 per month. This transparency and variety of price points attract a broader customer base and simplify the financial aspect of care. * **Effective Cross-Selling and Upselling:** Hims & Hers excels at cross-selling additional services once a customer engages for an initial condition, demonstrating a successful strategy for expanding customer lifetime value and addressing multiple health needs. * **"Healthcare Outsider" Advantage:** The founder, Andrew Dudum, brought a fresh, non-traditional perspective to healthcare, focusing on consumer growth and scaling principles from other industries, which proved instrumental in the company's innovative approach. * **Focus on Problem Solving, Not Just "Doctor Visits":** Patients primarily seek solutions to their health problems, not necessarily the traditional experience of visiting a doctor. Healthcare providers should prioritize efficient problem resolution, leveraging telemedicine and digital tools. * **Lessons for Direct Primary Care (DPC):** DPC clinics should consider distinct messaging and service offerings for men and women, invest heavily in marketing to increase patient acquisition, enhance their telehealth experience, and offer condition-specific, lower-price entry points to attract new patients. * **Lessons for Employer-Sponsored Health Plans:** Benefit managers should treat their offerings as direct-to-consumer products, utilizing diverse marketing channels and segmented messaging to drive utilization of point solutions. A seamless member experience, free of "scavenger hunts," is crucial for engagement. * **The Four Ps of Business in Healthcare:** The success of Hims & Hers perfectly aligns with the fundamental business principles of Product (distinct offerings), Price (multiple points), Placement (seamless delivery), and Promotion (large budget), demonstrating their universal applicability even in regulated industries. Key Concepts: * **Direct-to-Consumer (DTC) Telemedicine:** A model where healthcare services and products are offered directly to patients online, bypassing traditional intermediaries like insurance companies or physical clinics. * **Patient Engagement:** The process of involving patients in their own healthcare decisions and encouraging active participation in managing their health, often facilitated by accessible, convenient, and personalized services. * **Cross-selling/Upselling:** Strategies to encourage customers to purchase additional, related products or services (cross-selling) or upgrade to a more expensive version of a product/service (upselling). * **Seamless Experience:** A user journey designed to be smooth, intuitive, and free of friction points, from initial contact to service delivery and follow-up.

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