Behavioral Economics Meets Healthcare : Agenda

Featuring leading behavioral economist Dan Ariely, author of the best-selling book, Predictably Irrational, and a host of healthcare industry experts.

March 23-24, 2010

Harvard Club of New York City
35 West 44th Street
New York, NY 10036
212-840-6600—www.hcny.com

Irrational consumer decisions needlessly cost the healthcare industry billions of dollars every year. Imagine the potential for savings if we could change these behaviors, even just a little bit.

That's why we've teamed up with Professor Dan Ariely, Diamond fellow, and author of the best–selling book, Predictably Irrational. Together, we will explore how behavioral economics–a combination of economics and psychology–can explain irrational decision–making processes, help individuals make better decisions, and help us reshape the healthcare landscape.

Already, behavioral economics principles are driving innovative health insurers to increase network utilization and medical practices are testing new ways of getting patients to comply with their treatment protocols. Behavioral economics principles such as "anchoring" and "reliance on defaults" offer real promise in the area of disease management.

Clearly, behavioral economics is a hot topic. But its application to healthcare is still in its infancy and many opportunities have yet to be explored.

To help providers, insurers, pharmaceutical firms, and device manufacturers understand the latest thinking–and application–of behavioral economics in healthcare, Diamond Management & Technology Consultants and the Duke University Center for Behavioral Economics are hosting a focused, one–day symposium. The event will provide leaders with practical perspectives on how the power of behavioral economics can improve patient outcomes–and corporate performance.

Tuesday, March 23, 2010

6:00 p.m.

Cocktails and Reception (Gordon Reading Room)

We will host cocktails and a welcome dinner at the Harvard Club for locals and early arrivals.

7:30 p.m.

Welcome Dinner

Bob Nease, Chief Scientist, Express Scripts, Inc.

Bob will discuss the relevance, application, and potential of applying behavioral economics to healthcare. Bob will discuss social norms, loss aversion, and procrastination and will provide examples of how behavioral economics–and thinking beyond simple financial incentives–can dramatically affect results.

Wednesday, March 24, 2010

8:00 a.m.

Breakfast (Gordon Reading Room)

8:30 a.m.

Why Behavioral Economics, Why Now? (West Room)

John Sviokla, Vice Chairman, Diamond Management & Technology Consultants

John will set the stage for the day's discussion and review the issues driving interest in behavioral economics across the healthcare industry. In addition, he will share key insights on the importance of stakeholder segmentation when using behavioral economics principles to optimize the decision–making process.

9:00 a.m.

A Behavioral Economics Diagnosis of the Healthcare Value Chain

Dan Ariely, Diamond fellow, James B. Duke Professor of Behavioral Economics, Duke University

Dan, author of the best–selling Predictably Irrational, will explain how Behavioral Economics concepts inform likely rational and irrational reactions to many policy changes being evaluated. Dan will provide a behavioral view of what does and doesn't work from the perspective of insureds and uninsureds, health retailers, medical providers, insurers, pharmaceutical companies, and device makers.

10:15 a.m.

Break

10:30 a.m.

Collaborating to Enhance Behavior: A Payer Perspective

Bryce Williams, Senior Director, Prevention & Wellness, Blue Cross Blue Shield of Massachusetts

The impact of BCBSMA's new prevention and wellness initiatives is rippling across its relationships with patients, providers, pharmaceutical firms, and other key stakeholders. Bryce will share his recent experience and perspectives on how the advent of innovation will affect the healthcare value chain.

11:30 a.m.

Business Applications of Behavioral Economics in a Healthcare Context

Tom Weakland, Managing Partner — Healthcare, Diamond Management & Technology Consultants

Innovative participants across the healthcare value chain are already testing and implementing powerful behavioral economics principles to great effect. Tom will discuss the work of these early adopters and share lessons learned from Diamond's work with a variety of healthcare clients.

12:30 p.m.

Lunch (Presidents Room)

1:30 p.m.

Panel: A Cross Industry View (West Room)

Helping patients make the right decisions requires the combined resources of stakeholders across the healthcare value chain. This dynamic panel will seek to find common ground on ways organizations can apply behavioral economics principles to improve the quality of care and medical outcomes, while also serving the goals of the enterprise.

Participants will include Dr. Kasia Petchel, former Vice President and Global Head of Safety Risk Management, Hoffmann-La Roche; Ed Fischer, Senior Executive, Medco Health Solutions, Inc.; Paul Wicks, Director, Research & Development, PatientsLikeMe; Will Giaconia, Vice President, Choice Fund, CIGNA Corp., and Adam Wilkes, Physician, Main Line Emergency Medicine Associates

Moderated by John Sviokla, Vice Chairman, Diamond Management & Technology Consultants

2:45 p.m.

Break

3:00 p.m.

The Path Forward

John Sviokla, Vice Chairman, Diamond Management & Technology Consultants

John will synthesize the day's discussions.

3:30 p.m.

Adjourn