Virtual & Connected: Your Healthcare Re-Imagined

Automatic TRANSCRIPT

Welcome to the restless ones I'm. Jonathan, Strickland I've spent the last twelve years covering technology and learning how it works demystifying everything from massive parallel processing to advanced robotics and everything in between as we stand at the beginning of a new era of unprecedented connectivity with the rollout of five g technology I'm partnering with T. Mobile for business to sit down with. With some of the visionary leaders in tech across all industries from companies like Fiat Chrysler and Fedex and many more that play an integral part of our economy to get a better understanding of how tack and Connectivity Will Change Business Forever these leaders are the pioneers who don't follow trends. They define them. This show is their story. They are the restless ones. There's going to be an explosion in increasingly low-cost connected devices. And the infrastructure the connectivity that they that they need that will be provided by things like five G. networks will be critical to making them available to everybody imagine that in the future most, if not all of your medical checkups or your medical visits can be done in the comfort of your home. I had the chance to speak with CVS health's chief digital officer Bernas but Dana to get his take on how digital technology is both an enormous opportunity and a challenge for the healthcare industry, and how five G. Networks will provide the connective structure that will transform how we access healthcare services in the future in our previous episode, unlocking the autonomous automobile, then which I spoke with Fiat, Chrysler CEO Monta Marty. I learned about how the digital revolution is disrupting the automotive industry as I listen to Firdaus I realized that there are some interesting parallels between that story and held those same technologies are affecting healthcare services. I WanNa thank you so much for joining us to have this conversation to start on wanting to get a little more information about you and your background, and it's a question on love to ask people who have. To levels of leadership in Tech, how did you first get interested in technology? So I was born and raised in India. And then it's only when I came to mit in Cambridge to study for my undergraduate degree that I got really interested in technology What Mit taught me was not just about the nuts and bolts of technology, but the fact that technology could actually be used to improve the world we live in. So that's how I kind of got into tech. And then I've stayed there ever since because I'm an I'm an engineer by training, but a product person at heart, and that means I want to take the engineering knowledge I have and the technology that's around us and use it to build products that people can use. I love the fact that everyone I talked to who has an engineering background I get. Get the sense that they view the world as a series of either problems or challenges, and how do you? How do you create the solution that can meet that and it's that sort of creative thinking that I find really inspiring. That drives the people with that engineering kind of philosophy. So what sort of lessons did you learn in your experiences with startups? That then sort of informed your leadership style here at CBS health. I think the the biggest lesson learned as technology is all about the people involved like in most other endeavors You're only as good as the team around you it's. It certainly interesting and fascinating to work with cutting edge technology. But if you can take that and then build a team. To actually use technology to have an impact on people's lives. That's what makes the difference between a science project in a lab somewhere and a product or a company in the real world excellent so a what actually brought you over to cvs health after the these twenty years working with startups. You know when I was a young techy. CARE. What kind of impact I was having? I just wanted to be successful. whatever that meant to you know my younger mind. But as you get older, you start to think about the kind of impact. You're actually having on the world, and so. It's not often in your life that you get a chance to work with really cool technology. in the pursuit of a mission that you can really wake up every morning and believe in I mean what we are trying to do is to use technology to enable people to lead happier, healthier, more productive lives, and that's pretty cool. And Firdaus is mission driven usage of technology can transform the healthcare industry. But how can he apply certain technologies to advance the Industry today? One of the things I find really fascinating. Is that over the recent past we've seen dramatic evolution in processing power in sensors, and seeing them decrease in costs and increase in deployment, and it gives a lot of opportunity, and now that we are in the very beginning with the roll out of five g technology and connectivity that promises to develop benefits like high data, throughput and low latency. You start to see some really interesting opportunities arise I'm curious about your perspective on that world. So, so the healthcare industry coming from the outside? Three years ago, it was very clear to me and it's obvious to a lot of people that the healthcare industry has been kind of a laggard when it comes to adopting technology, but I'm a big believer in sort of right place at the right time and I think the time has come for healthcare to have its day We are at an inflection point right now. there are some very key technologies that we look at and we believe are critical to our future For Healthcare it's connected devices, and it's virtual care, and if you think about it all of those. CAN ONLY SUCCEED WITH Fantastic network, connectivity, and the use of data. In the right way, and so by being able to combine these technologies of you know A. connected devices and and virtual care, using the underlying infrastructure that has matured to a point where now we're talking about five G. networks with the low latency throughput off wireline networks We think that going to lead to absolute explosion in the kinds of healthcare experiences that will really truly improve people's lives. I would love to hear more about how you're leveraging that type of connectivity, yes. So, so let me make personal. oven merit to a pediatrician for twenty six years to get that right. Twenty six years now and so although I didn't have I, didn't work in the healthcare industry. You know I am a an honorary physician because you know of my connection at home. Now every once in a while, friends and family will text my wife and ask her a question. They'll send her an image of a tick. Bite on a child's arm. and. Say What do I do about this? Is that a dare take? Is it lime disease? Should I be going to the ER or they? Will bring little? Over, because Johnny's pulling on his ear and screaming his head off, and he has an earache, and they're not sure whether it's an ear infection, or whether you know his sister gender pencil in his ear. He has perforated eardrum. And I I look at this happening around me, and you know when people come over, and my wife is takes out our audit scope and looks in the kids year I'm looking at that and thinking like. Not everyone is lucky enough to have a connection like this. and we always hear about how accessibility to to healthcare in a cost effective manner is one of the biggest challenges that we face in this country. Well think about how this would play out in the future. When little johnny is pulling on his or her ear? As opposed to picking up the phone and trying to call a friend or family member. If you happen to know, somebody who is in the medical profession are thinking about whether I should go to the ER. You'd pick up your connected to school. You called it up against the child's ear. mom would get an instant readout using an AI based service that would say. There's a seventy two point six percent likelihood that this is actually just an ear infection that needs an antibiotic. TAP here to get connected to a health professional who can verify diagnosis and prescribe an antibiotic and then you know thirty minutes later shows up at your home from the local pharmacy CVs hilltop whatever it is. That's the kind of experience we're talking about. You know we want to enable in the future, and that's just the very beginning. That's the tip of the iceberg. Great from there on using things like G. Networks. You can go to where you can do. Remote Surgeries for people because you know you don't have the latency anymore and the way I think about it. It's like five G. makes it like being there. You don't need to use fancy VR AR technology to benefit from the feeling of being there So being able to reach reach lit remote locations I. Mean This is not just about you know somebody in a suburban home when it's Saturday night and the kid is crying. Because some you know, something's hurting but it's also people in remote locations who don't have regular access to care. And being able to reach them in a timely manner, I think that will lift the level of care and lift the quality of the health outcomes. We have while dramatically lowering cost well house CVS health, going to partner with other companies in order to kind of make these visions come true. Do you see yourself? partnering with hardware and Software Companies and IN? Other, health. Health companies like this. This is a very as I said a very broad approach that you're looking at so What's your perspective on that? So first of all we are opening open to partnering with anybody. we think that to move this whole industry forward. IS GONNA. Take the efforts of many companies. Many of them are like not in the traditional healthcare space. Including the big tech companies. Know Transportation Companies. I mean very often. We find that the the challenge somebody faces is that they don't have the right kind of transportation to get to. You know their doctor's office or to get to a pharmacy. It's as simple as that, but at the other end of the spectrum. There's going to be lots of really small innovative companies where their biggest challenges you know. How do you get adoption? How'd you get out and I? I lived in the world of starts. This is the biggest challenge is once you achieve product market fit you know. How do you get to a critical mass of consumers so that you get beyond and so? If, we see a start up somewhere. That is building algorithms to be able to listen to someone coughing to figure out what the root cause of that coffee is. What the diagnosis for the coffees or we see a startup that's building toothbrush that analyzes saliva in your mouth to give you a little medical checkup every time you brush your teeth. Those are innovations that we think we are uniquely positioned to bring to market. Because of our? Presence across the country both in the local community with our with our pharmacies and our health tubs, but also with our digital presence that were building out. You know in a big way right now. We'll be right back with our conversation with firdost within a- of CVS health in just a moment. You know who you are a boundary pusher, a big thinker in the relentless pursuit of the next big innovation for your business, t mobile for business knows that the future demands true workforce mobility, and in the new era of five G. being able to assess the needs of your company in real time could transform everyday functions. The Five G. Revolution has begun, and the future of businesses like yours will be powered by advancements in five G. networks built to reach more people in more places without slowing you down, t mobile for business can help you realize the full potential of your business as five G. unfolds, businesses changing learn more at T. mobile for business, DOT com. What do you identify some of the biggest challenges rather than say problems, but biggest challenges you face in order to kind of make this vision a reality. So we are going to be getting to a point where the amount of data coming in from connected devices and other sources, is going to dwarf what we see today, especially in the world of health, but that doesn't take away the challenge of what do you do with all this data? How do you make sense of it? and so being able? Able to ingest and process and protect you know billions of bits of data, and to make sense of it all to be able to derive insights and actions from that data that actually meaningfully improve people's lives. is one of the big challenges we face in front of us right so this is sort of big data taken to a whole new level. But also the ability to win the trust of people as we learn more about them and figure out what. We want to recommend that. They do to make their lives better. This is truly a partnership with the consumer. We have to be extremely transparent about what we're going to do with that data. It's probably a bigger challenge than any technology challenge out there. and. We have to earn that trust. You know one step at a time. It's not something we can just sort of wish into existence and every action. We take every single day. You know we need to we to focus on that. I like that answer a lot. It's It's really interesting to see that insight where the the big. The big challenge is not necessarily technological, although I think we're now coining the term bigger data. Because of of the scale you're talking about, but rather this very human element that often gets overlooked when we're talking in terms of technology, what are some of the near term goals for CVS health? As far as the digital transformation goes, and can you talk about sort of maybe what a more mid or long term goal would be sort of a manifestation of these ideas you're talking about so in the very near term you know we are constantly updating enhancing our digital experiences to make. Things easier given the breadth of resources. We have at our disposal now. I mean no matter how you want to engage whether it's by walking into a physical health hub, or into one of our ten thousand pharmacies are in two thousand eleven, hundred plus minute clinics, or you want to engage digitally, or if you so wish you want to pick up the phone and call just like we used to in the past. What we're also investing in for the mid-term and long-term in a big way are is the healthcare platform that underlies. Things? We just talked about so within the context of health care I know. You've been a passionate advocate for accessibility and the equal access of healthcare across the entire population. Hell will connectivity this potential a low latency high data throughput world that we're moving toward. How is that going to be a part of that mission? I think it's pretty straightforward. It's there's going to be an explosion in increasingly low cost connected devices. And the infrastructure the connectivity that they that they need that will be provided by five G. networks will be critical to making them available to everybody. Imagine that in the future most, if not all of your medical checkups are your medical visits can be done in the comfort of your home. It would be dramatically lower cost I mean the way we look at it as we look at all of the things that can be done by professional. In person can they be done remotely? Or if not remotely, at least in a local community setting like a hilltop, right someplace where you might have medical professionals, but perhaps not specialized in those specific areas of medicine on an operating theater. Right Button hopefully nine times out of ten. You don't need one right ninety nine times out of one hundred. Don't need one. And so I think, but I think I think the advanced networks will be extremely valuable when it comes to pushing that kind of interaction physical interaction at a distance. As. Einstein used to call it in a spooky action at a distance for quantum entanglement. Well and as you point out like a lot of these underlying technologies have existed, but the limiting factor was the fact that you couldn't get the information fast enough to its destination, and so that's why we're excited about seeing rollouts like five G. where we can see that. Connectivity popping up and doesn't require the physical cables at frees up a lot of the the what would previously be limiting factors for these sort of implementations, Alexander, removing barriers and reducing latency. Do you anticipate any other emerging technologies playing a really important role in the near term in healthcare whether it's? It's something that the average person. Would actually you know recognize upon encountering it, or if it was something seamlessly happening in the background that just sort of magically made things work so when I typically say devices I mean like a whole spectrum of them right at one end is the home hemodialysis system that sits in your home. It's not a wearable. It's not something you walk around with on the street. But I think the range of connected devices is going to be far beyond what people are imagining right now. It'll be built into almost everything we do. That will take some time, and it'll take this building of trust that I talked about. I also think that there will be lots of things that will be always on as opposed to today when you know I, lose connectivity, or I have low bandwidth, signal or I'm out of range That kind of stuff will slowly start to go away and it's interesting as well because I see this again as a convergence where any one company or any one innovator. Might be able to make a piece of something, but that piece really doesn't value until it fits in with this larger picture we're talking about, and you have to have the actionable responses that you can then either send directly to the person or send to a medical professional that can then an. Enact a change that is necessary. All these pieces have to come together. FIRDOST makes using technology to improve. The health of people seem easy, and those changes will have a huge impact on the future of the healthcare industry in the US. He'll tell me how that vision of tomorrow will come together after the break. The future is closer than you think and it all starts in the palm of your hand. You've heard the news. Five G. is here, but what does that really mean? How will it impact you and this iheart series this time tomorrow presented by t mobile for business join hosts, volition, and price as they walk us through a mobile revolution that will start to. To change the future of business and the way we interact with the world around us from environmental science to law, enforcement, entertainment, healthcare, and travel innovation is coming. Join them as they explore how this revolution could impact your life and give you new ways to connect and engage this time. Tomorrow is now available on the iheartradio APP or wherever you listen to podcasts. So. With these various pieces that are all either emerging or maturing things like machine learning, artificial intelligence robotics. Tell him medication. The network connective integrated sensors. What do you think? Healthcare is going to look like in a decade or two. How how transformative are we talking about? At this point you know I, think most of the early triage will probably get done by machines, which is not to say that we won't. We'll be putting physicians out of business. I actually think we will be empowering physicians and other. CARE providers to operate as we like to say at the top of their license I think as you say using the technology to augment not to replace like I. Think it would many cases free us up to concentrate more on those things that were good at and take care of some of the things that we might be good at, but it's something that could easily be automated. It frees us up well to wrap this up. We're going to have our five rapid questions. You do not need to take a lot of time to think about these. We just want your gut answer. And here we go question one. What one piece of technology could not live without? my mobile device. A new. You would expect that yet I'm going to say. All right. Virtual reality or augmented reality. Augmented. We're for two right now and just let me know. What science fiction technology would you most want to see? Become Reality the medical trike order on. This wasn't call A. Quarter on started medical try quarter on star. Trek now, it will diagnose and fix at the same time. Just, by waving it over a wound is incredibly time saving device there's. All right autonomous car or eight. I robot personal assistant. Oh definitely autonomous car. And I don't need more people in my life telling me what to do. That's fair. That's fair all right. And what do you see as being the biggest potential disruptive technology in the near future? I I know I've said this before I. Really think the. Medical, grade connected devices. That will provide the kind of real time monitoring that we've been talking about off and on for the past hour. I think that's really change people's lives. Where you can go from being real to truly being proactive, I want to thank you sincerely for the time you've taken to talk with us to share your vision and to inspire with this this this vision of the future which I also agree. I think this is fully attainable. If we set our minds to it, and and as far as I'm concerned, we have every reason to do that and no good reason not to so thank you so much for joining us very welcomed was a lot of fun and thank you for having me appreciate it. It's difficult to frame the impact. Digital Technology has already had on the healthcare industry, and what we should expect next from giving patients more access and control over their own healthcare to enabling new applications of telemedicine to providing the foundation for back end operations, the digital world is playing a critical role in how we manage an access healthcare, and without the pervasive access to network connectivity. None of these advancements would be possible. Five G. Networks will create new opportunities to help consumers and enable new lines of business at the same time. That's a powerful story. In our next episode, join us as we speak with a shook SRINIVASA. The chief data officer of into it as we look at how advanced technologies like a and machine learning will become the underlying infrastructure for industry in the near future. This is been the restless ones production of t mobile for business and iheartradio. No matter what you're after t mobile for businesses here with a network born mobile and built from the ground up for the next wave of innovation from mobile broadband to Iot to workforce, mobility and everything in between t mobile for business is committed to helping innovative decision makers like you move your business forward with the products and services. You need as well as the dedicated award-winning service. Your Business expects from America's most loved wireless company business changing learn more at T. Mobile. FOR BUSINESS DOT COM

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