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Anthem CEO discusses firm’s strategy in a churning sector

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Anthem President and CEO Joseph Swedish talked at  the America’s Health Insurance Plans (AHIP) Institute & Expo 2017 about affordability, access and care quality as the healthcare sector continues to be churned by unprecedented change.

Research has shown that providing better care at a lower cost is “truly an achievable goal,” Mr. Swedish said, and he outlined the strategy that the huge insurer is  taking to reach it.

This includes, as summarized by Healthcare Dive:

1.  Promoting consumer choice and market competition

2. Simplifying the healthcare experience

3. Supporting partnerships in all levels of government

Mr.  Swedish says that Anthem  expanded “very aggressively” in the government sector after purchasing Medicaid provider Amerigroup.

4. Converting volume to value.

Anthem is now “paying 59 percent of reimbursement to the provider community through value-based care models,” he  said.

5. Addressing the impact of chronic disease in our society

6. Supporting clinical innovations

Mr. Swedish cited Anthem’s recent creation of  an innovation studio to better understand customers’ needs, how to model innovations applicable to them and how to bring them to the market rapidly.  An example: The studio’s initiative  called “What’s My Status?” This sends updates to members about  their claim status and  data on their healthcare spending.

7. Leveraging big and deep data and technology

“This will reset the playing field between patient and doctors,” he added. “It’ll make them [doctors] a whole lot more capable.”

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