OW Health Innovation Summit: Responding to New Norms, New Expectations


4 min read

Healthcare has been a resilient industry. There have certainly been bumps in the road, but, for the most part, it’s withstood periods of economic upheaval. Using employment one key indicator, healthcare came out of past economic downturns ahead of other industries, as was the case in the early and mid-2000s. During the Great Recession, healthcare employment hit 13.7 million in 2009, up from 13.1 million in 2007. That came at a time when virtually all other sectors experienced steep drops in employment.

But this period of economic uncertainty, combined with rising societal concerns around everything from climate change to diversity and equity, puts new pressure on the industry. There’s also significantly more competition across every segment, eroding public trust from the spread of misinformation, workforce struggles, and more.

Despite these challenges, there are reasons to be optimistic. Innovations in science and technology are rapidly developing.  Evolving business models are challenging stakeholders to break free of the status quo. We will unpack these challenges and opportunities at the 10th annual Oliver Wyman Health Innovation Summit, Sept. 19-21, in Chicago, as we delve into the New Norms, New Expectations that are reshaping the industry.

The Evolved Consumer

Throughout the COVID-19 pandemic, consumer behaviors changed radically. Among other things, there’s more acceptance of digital tools and a greater appetite for convenience. Consumers want healthcare to be more like other industries and deliver services on their terms. During the Health Innovation Summit, we’ll explore the personalities that are not only driving change in healthcare, but at a broader societal level. At an immersive and experiential exhibit, Inspiration Experience: Renaissance 2022, attendees will explore how to engage with consumers, how to build and manage their workforce, and how to reimagine operations in this everchanging landscape. The experience is built off consumer research by the Oliver Wyman Forum which identifies The New People Shaping our Future. Some key findings from that research include:

Restoring Trust, Building for the Future

Throughout this year’s Summit, speakers and attendees will highlight three core themes: restoring trust, capturing the opportunities of innovations in science and technology, and responding to economic realities that are pressuring a break from the norm.

A stellar lineup of speakers will center stage for each of these, including Justin Blake, Executive Director of the Trust Institute and Global Chair of Executive Positioning, Edelman; Alex Oshmyansky, MD, Founder and CEO, Mark Cuban Cost Plus Drug Company; and Roberta Schwartz, Executive Vice President and Chief Innovation Officer, Houston Methodist Hospital. And during several thought-provoking executive sessions, attendees will be asked to consider new ways of doing business. Those sessions will look at innovations in the pharmacy value chain, reimaging workforce dynamics, and building new partnership across various stakeholders.

We’ll recap the Summit in special editions of Oliver Wyman Health next Tuesday, Wednesday, and Thursday. Stay tuned!