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When Mentorship Accelerates Health Innovation

The annual Tom Main Health Innovation Mentorship – created in honor of our former colleague and Oliver Wyman Health Innovation Center (OWHIC) founder, the late Tom Main – pairs healthcare entrepreneurs with senior-level mentors from our Health and Life Sciences (HLS) practice. Lisa Alderson, the inaugural winner of the Mentorship, is the CEO and Founder of Genome Medical a telegenomics company that provides health expertise during the genomics journey through its nationwide network of genetic specialists and genomic care delivery platform. Together, Lisa and her Oliver Wyman mentors addressed Genome Medical’s greatest business challenges to ultimately guide the organization toward near- and long-term success.

Scope

Oliver Wyman supported Genome Medical, a growth-stage innovator, develop and sharpen its overall commercialization approach. The mentorship focused on customer segmentation, pricing model, value proposition development, and value-based pricing strategy. The HLS mentors leveraged their collective experience, ecosystem knowledge, and the power of the broader Oliver Wyman/Marsh McLennan family to accelerate Genome Medical’s growth and impact. 

Genomics is one of the cornerstones that brings us to precision medicine and can serve as a catalyst for value-based care. Our insights and collective learnings in bringing some of that thought leadership from Oliver Wyman helped move us faster in that dimension. I'm excited about that and what that will result in regarding broader impact.
Lisa Alderson, CEO and Founder of Genome Medical, and 2020 Tom Main Health Innovation Mentorship Mentee

Impact

The Mentorship experience proved to be a differentiated opportunity for Lisa and the Genome Medical team. Lisa had two mentors from Oliver Wyman – both with distinct and differing perspectives, skills, and areas of expertise – guiding her company forward. Having this sounding board, Lisa emphasized, had tremendous value and tangibly impacted her ability to transform healthcare. Given Oliver Wyman was working directly with the senior leadership team (CEO, COO, Chief Commercial Officer) of a nimble start-up (relative to larger, more established organizations), they were able to immediately put the guidance to practice – in how they thought about their target customers, value proposition, and pricing strategy. While the official year of mentorship has come to an end, Lisa and Genome Medical will remain a part of the Oliver Wyman extended family and we will continue to support their success. Watch Lisa share more about her experience in our short video interview.

Genomics is a particular area of interest for us – and one we as a Health and Life Sciences practice don’t really touch upon in our day-to-day. Supporting a startup in this space that has the potential to radically change how genomics can impact prevention, care delivery, and health outcomes allowed us to be creative, design-thinking oriented, and decisive.
Lucy X. Liu, Principal, Health and Life Sciences, Oliver Wyman, and 2020 Tom Main Health Innovation Mentor
Spending the last year with Lisa and the Genome Medical team not only allowed us to honor Tom's legacy and help contribute to the development of an important new innovator, but it was also a learning experience for me personally. It's one thing to study successes and failures in the industry; it's a whole different experience to work alongside an entrepreneur as they work to grow a company and set new expectations about what access to cutting-edge care really means. What I learned at Genome Medical is already shaping how I advise my 'incumbent' clients as they look to work with innovators more successfully.
Sam Glick, Partner and Global Head, Health and Life Sciences, Oliver Wyman, and 2020 Tom Main Health Innovation Mentor

2020 Panel of Judges from left to right: Jeff Margolis (Chairman of the Board, Welltok), Jeanne Cohen (CEO, Motive Practicing Wisely Solutions), Ashley Smith (Partner, Health and Life Sciences, Oliver Wyman), Grace Terrell (CEO, Eventus WholeHealth), and Sam Glick (Global Head and Partner, Health and Life Sciences, Oliver Wyman)

Read more about our Mentorship here.