Patrick Gilligan |
CEO and president, Point32Health Co.
1. You started as CEO and president at Point32Health Co. in June. What are your priorities in your new role? Point32Health has faced unprecedented health care cost trends. The health care industry is experiencing the highest cost trends in medical care and pharmaceuticals in decades. Our entire organization is focused on lowering these costs, as well as our administrative costs. My priority is to always put our members at the center of everything we do, and to make health care more affordable and accessible.
2. Why did you want to lead Point32Health? I took this position because I want to use my decades of experience to make positive changes in the health care industry. I have made health care the focus of my life’s work and have spent 30 years in the industry. I know the New England health care landscape well and have worked for both providers and payers. I believe I am the right person at the right time for Point32Health to strengthen the organization and have a greater impact on the health and well-being of members and communities. Health care is becoming unaffordable, inaccessible and more complex, and I want to change that.
3. This year, Rhode Island insurers proposed the highest premium increases in more than a decade. Are you concerned about rising costs that contribute to these proposals? I am very concerned about rising health care costs and Point32Health is working diligently to address those costs. However, we can’t do it alone. The health care sector must work together to address these exorbitant medical and pharmaceutical costs. As these costs continue to soar, affordability challenges will persist for consumers and employers. In the markets we serve, close to 90 cents of every premium dollar customers pay is spent directly on medical care and prescription drug costs.
4. How do you plan to address the financial challenges facing customers and employers? The health care industry must lean in and find solutions to address the drivers of health care costs [that are] resulting in higher premiums and making health care less affordable. Point32Health has implemented a plan to help us address these costs, as well as lower our organization’s administrative costs. We are working closely with our provider partners to address medical costs and have implemented policies to manage soaring pharmaceutical drug prices.
5. What other challenges face the health insurance industry? The cuts in Medicaid funding and changes to the Affordable Care Act could leave millions of people without medical coverage. These cuts affect those with lower incomes who rely on Medicaid or subsidies to afford medical coverage. There will be an impact on those trying to access health care, leading to a reduction in preventative care and diminished health outcomes.
