Video: Oliver Wyman’s Terry Stone on Who Will Win in the New Healthcare Economy

In Idea 10 of Oliver Wyman’s “Ten Ideas” compendium, Health & Life Sciences Managing Partner Terry Stone explores how encouraging consumers to make healthier choices will yield big savings and better outcomes. “If the industry could figure out how to do that at scale, backed by the enormous market power of employers and the government,” she writes in “Help Patients to Help Themselves,” “the impact would be measured not just in dollars (roughly half of healthcare costs are related to lifestyle choices) but in years of better living across the population.”

If accomplished, Oliver Wyman estimates the United States could save nearly $500 billion in healthcare costs. That’s more than 15 percent of the $3 trillion health market, as illustrated by the graphic below. Highlights Stone in the video above: “The player in the market that can best help the consumer feel like they give them better value, better guidance and advice, and ultimately make them feel like a more empowered consumer will ultimately be the player who will win in the new healthcare market.”