At the Health Innovation Summit, It’s Time for Show, Don’t Tell

For start-ups and other companies hoping to disrupt the industry, falling stock prices and tighter capital markets create an opportunity for leaders to realign their strategies, Schlosser said. Instead of trying to be all things to all people, focus on what you are good at. It’s a lesson that Schlosser took to heart earlier this summer when his company announced that it would not pursue additional full-service deals for its +Oscar information technology platform. The service was intended to help insurers and providers transition to risk-based arrangements, but an implementation with Health First Health Plans ran into trouble and the Florida-based insurer recently terminated the contract. Oscar has very good tools in other specific areas and that’s where the focus needs to be for now, Schlosser said.

Companies that sharpen their focus and business model, as well as show a path toward profitability, are going to be the ones that attract investments and will have a chance to make meaningful change. It’s now a “show, don’t tell” world, Schlosser said.

Pointing to the pharmacy benefit manager segment, Tullman struck a note optimism that broader disruption is coming. He referenced the major acquisitions over the past few years that have radially reshaped the PBM landscape. And hours before taking the stage at the Health Innovation Summit, Transcarent launched Transcarent Pharmacy Care, a service that will allow members to search and compare drug prices across pharmacies. He predicted that similar changes will hit the insurer market over the next five years.

“Consumers need to be in charge,” he said. “They need to tell us what they want, when they need it.”