ignite09 symposiums to focus on convergence of behavioral economics and healthcare

Oct 8 2009

Thought Leaders Unite to Improve Health Outcomes and Lower Costs as California Grapples with State Budget Cuts in Healthcare

Express Scripts (Nasdaq: ESRX) Center for Cost-Effective Consumerism, the American Benefits Council and Hewitt Associates along with other leading health and policy organizations are bringing the ignite09 symposium, a groundbreaking series of symposiums on the convergence of behavioral economics and healthcare, to San Francisco. This event is being held today at Stanford University and unites key decision makers and innovators in healthcare; top academics in business, medicine and economics; HR executives from leading companies in technology, healthcare and other industries; and government leaders. Attendees will continue the dialogue that began in the nation's capitol in May about America's existing and emerging healthcare problems and discuss real solutions made possible by applying the principles of behavioral economics to healthcare.

"The ignite09 symposium is examining how breakthroughs in behavioral economics can provide avenues for responding to current and emerging issues in healthcare," said Bob Nease, Chief Scientist, Express Scripts. "Over two hundred thought leaders convened at our launch symposium in Washington, D.C. in May. Now the conversation is moving to San Francisco where we will gain a local perspective on these issues and how to best apply behavioral economics to health care."

This solution-oriented symposium will draw on the insights of behavioral economics experts and focus on providing attendees with the knowledge and tools needed to improve health outcomes and lower costs, focusing specifically on consumer engagement and health promotion that many large businesses have prioritized in their health benefits strategies.

"In an economically challenging environment, HR executives are tasked to maximize their benefit dollars and demonstrate results," said Emma Hoo, Director, Value Based Purchasing, Pacific Business Group on Health. "Behavioral economics can provide valuable insights and experience to implementing benefit designs and incentives that work."

"Interest in behavioral economics is growing tremendously across the country and it intersects with the critical national debate now underway in Washington, D.C. on reforming the health care system," said James Klein, President, American Benefits Council. "Today in San Francisco and later this month in Chicago we will explore new methods to guide individuals to make more informed and cost-effective health choices."

Classical economics assumes that people are rational and act in their own self interest; behavioral economics looks at the real world, focusing not on how people ought to act but instead on how they do act. Behavioral economics draws heavily from the principles of social and cognitive psychology to analyze the way people make decisions. A deeper understanding of why people do what they do empowers individuals and organizations to more effectively promote positive change in healthcare to improve outcomes while lowering cost.

"Behavioral economics provides insights into how we can help consumers make better decisions about their health and healthcare. Better decisions are key to overcoming many of the cost issues employers and individuals face today," said Jeff Munn, Principal, Health Management Practice, Hewitt Associates.

Symposium speakers include:

• Alan Garber, MD, PhD Henry J. Kaiser Jr. Professor; Professor of Medicine; Director, Center for Primary Care and Outcomes Research; Director, Center for Health Policy; Stanford University
• Emma Hoo Director, Value Based Purchasing; Pacific Business Group on Health
• Bob Ihrie, MBA Senior Vice President, Employee Rewards and Services; Lowe's
• James A. Klein President; American Benefits Council
• David Laibson, PhD Harvard College Professor and Robert I. Goldman Professor of Economics; Harvard University
• Jeff Munn Principal, Health Management Consulting Practice; Hewitt Associates
• Bob Nease, PhD Chief Scientist; Express Scripts
• Larry Zarin Senior Vice President, Marketing and Corporate Communications; Express Scripts

A third summit will also be held in Chicago on October 28, 2009, to continue the discussion and include a local perspective on how behavioral economics can best solve America's healthcare problem. For more information about the ignite09 symposium, please visit www.ignitesymposium.com.