December 20, 2019
Chairman and CEO of hc1, Brad Bostic, recently sat down with Christina D. Warner, MBA, of Thrive Global to discuss the future of healthcare. They talked about what brought him to the field of healthcare informatics, advice for other healthcare leaders, changes needed to improve the U.S. healthcare system, and the exciting things hc1 is doing now.
Bostic said delivering high-value, personalized care is paramount to improving the overall U.S. healthcare system. He said we can learn from Amazon’s service delivery model. They treat getting every item to you on time like its life or death. The healthcare system, however, treats patients in true life or death situations like a number. We need to reconfigure processes and incentives to ensure patients are treated as individuals.
“Today, our goal at hc1 is for each patient to receive personalized care leading to faster, and more accurate diagnoses with targeted lab testing and precision prescribing that utilizes an individual’s unique genetic makeup in developing the optimal drug regimen,” Bostic said. “Consequently, by taking these steps, every individual feels like they are the most important healthcare customer. I know we can accomplish this as an industry.”
Decreasing medication therapy failures and maximizing the value of lab data were also included in Bostic’s recommendations for the healthcare industry. “In total, illnesses and deaths resulting from non-optimized medication therapy cost the U.S. healthcare system more than $528 billion per year,” he said. “By transforming lab data into actionable, personalized healthcare insights at scale, more patients can receive tailored treatment resulting in improved outcomes.”
The hc1 Platform™ was built to specifically support personalized healthcare and eliminate waste.
Bostic founded hc1 in 2011 when he finally saw the healthcare industry was ready to transition from a fee-for-service to a value-based care model after witnessing the impersonal care his mother received during her battle with cancer 10 years earlier. He said a more personalized approach could have prolonged or even saved her life.