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The Evolution of Care in 2021, Dr. Patrick Carroll, CMO, HIMS/HERS F50 Global Summit Austin

Patrick Carroll
Chief Medical Officer at hims & hers
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F50 Global Capital Summit 2021
June 22, 2021, Online, Austin, TX, USA
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About the talk

Topic: Finances

Dr. Patrick Carroll

CMO, HIMS/HERS; Former Chief Medical Officer at Walgreens

Bio: Dr. Patrick Carroll oversees all matters pertaining to provision of care, clinical outcomes, patient safety, healthcare information systems and strategic initiatives and programs that will enhance the HIMS-HERS care model. In addition, Dr. Carroll is instrumental in managing relationships with health systems and collaborating with the executive team in the development of new clinical programs.

Prior to joining HIMS-HERS in June of 2019 Dr. Carroll was the Group Vice President and Chief Medical Officer of Walgreens. Over his 5 year tenure he oversaw retail clinics, healthcare strategy, health system collaborations, quality programs as well as the development of the Walgreens Healthcare Neighborhood initiative.

Prior to joining Walgreen’s in May 2014, Dr. Carroll served as the Chief Medical Officer of Integrated Care Partners, Hartford HealthCare’s clinical integration organization. He was also the Medical Director for Hartford HealthCare’s Medicare Shared Savings Program which currently has over 20,000 patients in a Medicare/CMS shared-risk pilot program. He played a key role in leading the Hartford HealthCare’s efforts in the transition to value-based care in a time of a rapidly changing healthcare landscape.

From 2010–2012, Dr. Carroll served as the Chief Medical Officer for the Granite Medical Group in Quincy, Massachusetts. Granite Medical Group is a 40-provider Multispecialty/Primary Care Group which is part of Atrius Health, a 1000 Medical Provider Group.

Dr. Carroll received his bachelor’s degree from the College of the Holy Cross and his medical degree from Dartmouth Medical School. He completed his residency training at Middlesex Hospital in family practice, where he served as Chief Resident.

Dr. Carroll is Board Certified in Family Practice and in Adolescent Medicine.

About F50 Elevate

F50 Elevate™ connects the most promising startups and accelerates their growth with the collective intelligence of our deep roots in Silicon Valley, together with our corporate partners, investor network, and industry experts.

http://F50Elevate.com #F50Elevate

Linkedin: https://Linkedin.com/company/f50elevate/

About speaker

Patrick Carroll
Chief Medical Officer at hims & hers

Current Chief Medical Officer HIMS/HERS overseeing clinical programs, quality and healthcare collaborations. Former Group Vice President/Chief Medical Officer at Walgreens oversaw retail clinic business unit as well as clinical programs and health system alliances. At retail clinics leads provision of care, clinical outcomes, patient safety , healthcare information systems, strategic initiatives and programs.

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Liu. I'm here to talk about the evolution of care particularly in the age of digital. Virtual Healthcare, my background is a primary care physician of over 28 years, and I've worked through all of the different iterations of primary care. The traditional model of 30 patients per day 825 care, taking call every 3rd to 4th night, doing house calls, and is this evolved. We've seen different consumer-facing iteration of care in primary care, for. Of my tree right over our retail

clinics. When I was chief medical officer at Walgreens. And then today this movement towards virtualhealth both in a hybrid model where its brick-and-mortar as well as virtual and the latest iteration is total of virtual care for Primary Care. What is the issue today? The US Healthcare System is one of the last multitrillion-dollar markets to be disrupted Racine disruption, and Regional Transportation advice financial services, but not so much in healthcare. Average American Experience is not great in health care.

They find it expensive with 50% of families can afford their deductibles inaccessible. ER, visits are result in a overuse over utilization of resources because folks cannot access the primary care, families, decide to post on care because they can't afford it. And many areas of this country are primary care deserts. What was seen is the digitization in many segments of our economy. Healthcare is the last area to become digitized. Your significant secular Tailwind. That is driving. This first is Horizon high-deductible. Health Plans, when you have a high deductible health plan,

if you reach that level of 1600 $1,800 deductible, Lee, 80, 80 per-cent of, folks, with that high of a deductible actually, use their insurance. So they're paying out-of-pocket. So they looking for access to care and they're very aware of what they're paying for. Then. There's the consumer adoption of technology in Millennials. They are very favorable towards digitized care, where they can get care. That's accessible affordable and price transparent. And there is this rapid increase in medical costs that are driving this

need for Price transparency. You look at all of the different markets in Primary Care. Do me a huge total, addressable markets to the areas that we started off with that hymns and hers hair loss, and Edie. He's a large markets. We recently got into anxiety and depression around Behavioral Health. And we've been doing Dermatology since the Inception of the company. We're looking at going into Virtua primary care, and we've done about 60 conditions in primary care and there are other areas that are more chronic

conditions such as diabetes hypertension and hyperlipidemia that are very amenable to Virtual care. We look at what we do at our company. We really represent a significant Market segment for Millennials. 80% of our customers are first-time buyers, lineals make up the majority of our customers and seventy percent of the u.s. Population is Gen X or younger. So it's a large Market think of us as a front door to healthcare for the demographic. Do Millennials need this care? Absolutely, I would consider them at risk

in under sir, 40% without intervention, are going to have fireworks holiday and more significant chronic disease. Conditions is an accelerated decline in their health compared to Generation X. And if the ad most adverse projections take card is going to be, the increase spend per capita per year of $4,500, because they did not arrange for their chronic conditions. Are millennials prefer to get care papers for a self-diagnostic diagnosis? They will Google or an issue get information off the internet and then try to access care directly. They don't normally go to a health system's website or look

to establish a primary care physician. In fact, 50% have no personal relationship with primary care. Physician, 93%, don't even scheduled position basis, and 70% would rather have an online visit. And also get the prescription sent to them as opposed to going to a traditional retail pharmacy. How do you engage Millennials? First, you have to have access to care. You have to have a very price transparent here and you have to destigmatize conditions. And so as a company, we actually have an omni-channel marketing and communication. We use paid search Instagram, Facebook

log, and we have a very robust lifecycle retention program that if someone comes onto a platform and access care, we continue to outreach for them to ask them. How are they doing? Are they having side effects? Is there anything more? We can offer them? And we also have provocative. When we looked at the areas that Millennials are coming in to access care. It's can start with issue with areas such as birth control depression, Primary Care, Dermatology erectile dysfunction, but we see this evolving into other areas,

such as sleep, fertility, and chronic disease. Management for conditions, such as diabetes and hypertension. Can we look at him in hers? We are really the first digitally native fully protocol eyes multi condition help platform. We provide access to high-quality integrated care from start to finish. So we created a consumer brand. We developed have distributed provider Network, these positions and providers for work. Part-time for us. Follow evidence-based guidelines. We build an EMR around. Really, accessible high-quality care,

but also get rid of a lot of the fluff in the traditional Mrs. So essential questions can be asked answered communicate with providers. Get prescriptions, if appropriate and make it really a frictionless experience. We have a digitally native telemedicine platform. And then if her prescription is needed, this gets sent to a cloud-based Pharmacy, you don't have to go to a traditional retail pharmacy to pick up the prescriptions. They're actually sent to you. We hear that, this is what the Millennials want. They identify with that

frictionless experience. So we're really fully predict lifestyle medicine platform with a proprietary telemedicine, stack National provider work over, 300 providers, diverse product offerings, which would really expanded over the past year partially driven by the pandemic. And then that cloud-based Pharmacy. Who is the new front door to healthcare would created this really frictionless experience? It's fast and efficient comprehensive and affordable for Primary Care. Visits. For example, it's $39, ubiquitous access 24 hours a day, 7 days, a week

stigma-free. He's a really comprehensive, but also very experiences that is not associated with the stigma in its personalized, for the customer who comes on our platform. So how does this work in a virtual Health platform? First and foremost, you need to verify that. In fact, the customer coming on the platform is who they represent themselves to be. So we have a multi system tools, that verify the identity of the customer, the consults are actually carried out by providers and follow evidence-based, guidelines, and algorithms in the

diagnose. Is supported by these guidelines and this continuous Outreach after a customer receives a visit, and they get a prescription. If they do get a prescription or if they have ongoing problems, 24/7, they can access provider to answer their questions. So really enables the healthcare experience of a future. This is what consumers, expect your visit up a mobile device. In fact over 80% of our visits are done off mobile devices. You click on through eyesight. What issue you here with today? For example, skin care acne taking a high-resolution digital photo

as photo. Gets to the provider. The provider looks at the photo and goes through the questions yet, you answered and then offers customized medication solutions that are sent to the patient's. It's a subscription model. So for the cost of 30 to $35 per month to get unlimited provider visits, but they also get the prescription. Send to them. That's included in that subscription price. A big change in our company over the past year has been that really fairly significant expansion in Muskoka care. We started off with offering treatment and evaluation for sexual dysfunction like a

rectal dysfunction, and premature ejaculation hair loss. Dermatology in the areas of aging and acne and oral contraceptives over really expanded into Primary Care. Offer, you know, over 30 episode of condition evaluation and treatment. We also fold it in covid-19 home screen for a saliva-based test, run through records University. And then about seven months ago. We lost Behavioral Health, focus on anxiety and depression. All this is made possible by really evidence-based guidelines and comprehensive provider training. These are all board certified providers through a

license in the states that they practiced were in all 50 states. Today, most represents our asynchronous in some states were required to do synchronous. That is face to face. I will Security Office Products. We verify the credentialing of all of our providers and we provide comprehensive web-based training for every condition that our provider Street off our platform. We were actually able to grade providers on visits that they finish and we actually read them on five criteria, including

website Manor, how they interact with patient when they're falling evidence-based guidelines or not, whether they're prescribing, the appropriate medication at the appropriate dose are average. Score for providers is the 95th percentile. If you fall below, a 90 percentile, you actually get retrained with done over 30,000 encounter reviews today, and we have a network of over 300 providers and primary care and then a smaller subset. This specialized Behavioral Health, both of board-certified psychiatrist in psychiatric nurse practitioner. The result of this is

really a high-value consumer experience. Inps score of 65 or customers like experiencing see because you're getting accessible affordable care. That's high quality. The other aspect that was added into our when is our own cloud-based Pharmacy. We have a 3000 square foot Ohio pharmacy. That is now rolling out state-by-state. So providers, can prescribe through this Pharmacy in the medication gets delivered directly to our customers. We see ourselves as part of a healthcare

assistant in some ways. We are a disruptor, but in other ways, we really want to be connected traditional Healthcare. We do this through relationships that would develop with Mount Sinai, New York Ochsner. And then most recently with a large managed service organization called Privia health. And so, in these relationships, we offer the 10 to 15% of patients, better by complexity and I'm not appropriate for Virtua care. We offer them specialty, referral working water referrals into one of our partners if I'm not in the area of the country. We have this partnership.

Then we as much as possible. Provide them with access and referrals into a brick-and-mortar location. We realize we cannot serve all of their needs in a virtual environment. It's really a new age of healthcare. It's really the evolution of the primary care model that I began practicing years ago for over 30 years. And we've added in Virtual care. The pandemic is actually accelerated some of this virtual care work, but we saw even prior to the pandemic. This model has beaten Bray specifically

with the Millennials in terms of virtual care cloud-based, Pharmacy, high quality, and try scrap price transparency. The pandemic has accelerated this and we see this is continuing to grow because it is filling a need that is there for customers as they try to access Healthcare in a new modality. Thank you.

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