I’m in Los Angeles at Fortune Brainstorm Health, where entrepreneurs, medical experts, and health executives have come together to share ideas on the frontiers of health care. Conversations range from high-tech wizardry—Eko CEO Connor Landgraf demonstrated an A.I.-powered stethoscope that can diagnose heart disease—to everyday reality—Chelsea Clinton talked about how little has been done to address the obesity epidemic in this country. Indeed, what makes discussions of the health care business both exhilarating and depressing is that there is so much that can be done to make it better. As venture investor Annie Lamont of Oak HC/FT put it: “There is unlimited opportunity. Health care has so many ways it can improve.”
The conversations here also underscore how profoundly the pandemic has changed health care. People have gotten more engaged in their own care, digitization has greatly accelerated remote access, mental health has gotten a much-needed new focus, and the scarcity of health care talent has become a persistent problem, fueled by caregiver burnout. Here’s CVS CEO Karen Lynch:
“Mental health is a huge issue in the U.S., particularly in children. We are seeing an enormous increase in the suicide of young adults. We’ve put counselors in some CVS locations, and we have vastly increased our telehealth services. There were 9,000 telehealth mental health visits a year pre-pandemic. Now we are up to 20 million…Your head is connected to your body. Until we think about this holistically, we are not going to be able to address the full issue.”
Elevance Health CEO Gail Boudreaux talked about the promise of A.I. in transforming health care:
“A.I. is changing every business model there is. How do we simplify the health care journey. How do we personalize it. How do we synthesize it. It gives us an incredible opportunity to use the massive amounts of data we have to provide better outcomes, but trust is incredibly important. Before we do anything…we have to make sure we build trust with the people we serve.”
I had the dinner spot at the conference, interviewing former Olympic skater Apolo Ohno, who talked about the challenges of making a “hard pivot”—a skating move, but also a description of his transition from skating to business.
You can read more from the conference on Fortune Well. And I’ll have more from here tomorrow. Other news below.
3M job cuts
3M will cut 6,000 jobs as part of its previously-disclosed layoff plan, which is expected to reduce costs by up to $900 million annually. The company has announced a total of 8,500 job cuts this year, about 10% of its workforce. Bloomberg
Managing Gen Z
Gen Z employees aren’t the easiest to work with, according to a Resume Builder survey of over 1,300 managers and business leaders. Seventy-four percent of managers found Gen Z employees challenging to work with, with 49% reporting that it was difficult most or all of the time. Fortune
Scarce feedback on Zoom
A recent study revealed that remote workers get less feedback than their in-office colleagues. The study focused on software engineers and found that in-office employees received 21% more feedback on their work than those logging-in remotely. Fortune
AROUND THE WATERCOOLER
Mark Zuckerberg has spent billions on A.I. but one of his top execs said Meta is still a laggard and ‘we need to invest heavily’ by Prarthana Prakash
Terra cofounder Daniel Shin charged with fraud in South Korea as former CEO Do Kwon still detained in Montenegro by Marco Quiroz-Gutierrez
Executives know the generative A.I. boom is a big deal—but are afraid to use the technology by Jeremy Kahn
We’re starting to see why Brexit was a disaster for Big Tech by David Meyer
Reddit’s former CEO on surviving Silicon Valley’s dotcom crash—and his advice to those facing tech layoffs today by Orianna Rosa Royle
This edition of CEO Daily was edited by Jackson Fordyce.
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