AEE5: Today vs the Day All of the HMOs Crashed and Burned, With Alex Jung, Partner and Managing Director in Parthenon-EY

Alex is a partner/managing director in Parthenon-EY, where she works primarily on growth strategy projects. She helps clients define and implement their strategy and build organizational capabilities to deliver sustainable business results through both organic and inorganic approaches. She is a thought leader in the industry and specializes in asset repurposing and optimizing value propositions. Prior to joining EY, she was the senior vice president of Walgreens Corporate Strategy. Alex has over 30 years of experience working on strategic growth and risk mitigation engagements. She began her career with Arthur Andersen and after 10 years moved into consulting with Mercer as the leader of the National Health Care Analysis Unit, helping to architect one of the first health data analytics platforms. Alex has worked globally with Fortune 500 companies and has developed and implemented large-scale strategy, operations, and financial projects. Her domain expertise in health care and life sciences includes hospital operations, pharmacy and drug manufacturing, patient clinical intervention programs, employer benefit plan designs and funding, commercialization, and growth strategies, including mergers and acquisitions. Alex has been quoted in numerous articles in Forbes, the Chicago Tribune, Business Insurance, Workforce Management magazine, Crain's Chicago Business, and other industry publications. She is on the editorial board of Inside Patient Care magazine. 01:00 Why change is coming. 01:30 More convergence coming to the industry. 02:20 The interlopers—private equity firms. 02:35 Challenging perverse incentives. 04:20 What HMOs used to be, and why they were the dominant health insurance policy design. 05:45 Why so many HMOs went bankrupt. 06:20 How we might see social advocacy change health care yet again.