Why healthcare is like a 'music store from the '90s,' according to tech chief at CVS' Signify Health

The healthcare industry is like a "music store in the '90s" with the ultimate goal of becoming as consumer-friendly as Spotify, the tech chief of CVS Health' Signify Health told TechNewsWorld.

Josh Builder, chief technology officer of Signify, a home health company that CVS bought in March for $8 billion, said tech has to be front-and-center for healthcare providers nowadays and the industry must do a better job of recruiting, according to the June 22 article. "We need to better sell the work, alongside the mission," he said. "Most industries do not have both. We do."

He said healthcare also needs to improve its claims processing technology and add insurance coverage and out-of-pocket costs to patient portals. "So, the opportunity for Signify and CVS is to create the first truly consumer-friendly [offering] — simple, more options, and all with the consumer's care and time in mind," he told the news outlet. He said Signify is currently focused on building the research and development staff for its new tech center in Ireland.

Mr. Builder, who was previously technology chief of early music streaming service the Orchard, compared healthcare to the music industry — where you used to have to buy physical objects like records, cassettes and CDs, because that's how it was always done.

"So maybe healthcare is a bit like that music store from the '90s. It once had a pretty clear model and ecosystem," he said. "But now things are different, and we are engaging people in a whole new host of ways."

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