Speaker 1: Bloomberg Audio Studios, Podcasts, radio news. This is Bloomberg Business Week,
Speaker 1: insight from the reporters and editors that bring you America's
Speaker 1: most trusted business magazine, plus global business, finance and tech
Speaker 1: news as it happens. Bloomberg Business Week with Carol Masser
Speaker 1: and Tim Stenevek on Bloomberg Radio.
Speaker 2: It is Bloomberg BusinessWeek. That's Carol Master. I'm Tim Stenevek
Speaker 2: preparing for cold here in New York and across the
Speaker 2: country over the next week. Sot us Paul Brennan reminded
Speaker 2: us when I was complaining about this earlier, it's winter.
Speaker 2: It's January, is what he said, Yeah, exactly. Then he
Speaker 2: got us to move on to the next thing. Thumbs
Speaker 2: up from Paul. Hey, here's something interesting. Elon Musk talks
Speaker 2: about this, or used to talk about it. Never know
Speaker 2: what he's talking about now. The birth rate in the
Speaker 2: US and population collapse. Here's some numbers, Carol, US births
Speaker 2: declined in twenty twenty three to their lowest level in
Speaker 2: more than forty years, and continue this two decade trend
Speaker 2: of Americans having fewer children. Birth rates and countries around
Speaker 2: the world have been declining, mainly in wealthier nations, as
Speaker 2: economic instability and uncertainty over events like the pandemic discourage
Speaker 2: people from having children.
Speaker 3: Yeah, while countries including France and China have taken measures
Speaker 3: to try to encourage couples to have children, US birth
Speaker 3: rates have been stifled by forces including a lack of
Speaker 3: paid family leave and skyrocketing health costs. I hear this
Speaker 3: from a whole younger generation. Oh and people don't forget
Speaker 3: are living longer. These are and as a result of
Speaker 3: all of this, she added up, there's some serious economic
Speaker 3: implications to it, like GDP per capita In many countries,
Speaker 3: tim are taking a pretty serious hit.
Speaker 2: It's the focus of a new report out today from
Speaker 2: the mckenzi Global Institute. It focuses on this new demographic reality.
Speaker 2: Olivia White is senior partner at mackenzie and Company. She's
Speaker 2: also director of McKenzie Global Institute. She joins us from
Speaker 2: New York. Olivia, good to see you. I think a
Speaker 2: lot of people are familiar with what's happening in Japan
Speaker 2: and China. I just mentioned some troubling US stats. I
Speaker 2: think people get that too. Where else is this happening?
Speaker 4: It's happened. So in two thirds two thirds of the
Speaker 4: world's population lives in countries where the birth rate are
Speaker 4: called the fertility rate is below what we call replacement,
Speaker 4: and replacement is the birth rate that you'd need in
Speaker 4: order for each person to replace themselves.
Speaker 2: So I got a wife and two kids, so that's
Speaker 2: essentially a replacement rate.
Speaker 4: You're doing your job.
Speaker 2: Well, But am I though I'm only doing the replacement
Speaker 2: right part, I'm not actually doing growth?
Speaker 4: No, well, let's let's start with with with just the
Speaker 4: question of how society works and this sort of economics
Speaker 4: associated with them.
Speaker 2: Tim, let's start with the basics.
Speaker 4: Fair enough, go ahead, I think you're doing your job there.
Speaker 4: The basically, society is built upon populations that expectations. Societal
Speaker 4: expectations are built around populations that stay stable or perhaps grow.
Speaker 4: And part of that is because people are kids, they're
Speaker 4: supported by their parents, their parents are the workers, and
Speaker 4: then ultimately, at some stage you move into retirement and
Speaker 4: you're supported by the people who are working, and the
Speaker 4: basic social compact is supported on mechanics that looks like that.
Speaker 4: But what happens when people on average start not replacing themselves,
Speaker 4: having fewer children than them, you start to have more
Speaker 4: old people than you have workers, and all of a sudden,
Speaker 4: either you're in a situation where old people actually have
Speaker 4: to work, they don't have nearly as much money, etc.
Speaker 4: Or you're in a situation where there is a bigger
Speaker 4: burden placed upon the people who are working, so they
Speaker 4: have to work more productively or more hours, or perhaps
Speaker 4: you have to figure out ways of getting more of them.
Speaker 4: And that's why it really matters.
Speaker 5: You know.
Speaker 3: The one thing that helped me out here. I understand
Speaker 3: that global birth rates are going down. Individuals, women are
Speaker 3: having a lot less children than they did seventy years ago.
Speaker 3: I mean, I'm one of seven, I have one, so
Speaker 3: that's a big change in one generation.
Speaker 5: Having said that, there's more people on earth, and I, you.
Speaker 3: Know, I wonder in emerging economies, like I don't know
Speaker 3: what's your concerns about all of this, and like I
Speaker 3: understand the growth implications, but technology sometimes makes us more productive.
Speaker 3: So I'm trying to understand, like, what do we need
Speaker 3: to be worried about?
Speaker 4: Well, I don't know if we need to be worried
Speaker 4: about anything per se, but I think we need to
Speaker 4: recognize the reality of what's happening, and make sure it
Speaker 4: is the very least that we're adapting in order to
Speaker 4: accommodate it. First on the country level. Then if you
Speaker 4: think about the global level, and the adapting at the
Speaker 4: country level is a little bit what I talk about now.
Speaker 4: If you think about the global level, because I think
Speaker 4: the right to go there, Carol, what we actually see
Speaker 4: is call it three waves of countries, the developed countries,
Speaker 4: including China, where we're already at a place where we're
Speaker 4: starting to get inversions of as we call it, inversions
Speaker 4: of population of more older people than there are younger people.
Speaker 4: You then have this second wave of countries, and that's
Speaker 4: a huge swath of most development countries in the world
Speaker 4: where actually the birth rate has already fallen below this
Speaker 4: replacement rate, but it's happened reasonably recently, so you still
Speaker 4: have a lot of young people going to be workers,
Speaker 4: and they're going to get to where we are in
Speaker 4: the developed world in twenty thirty forty years, depending on
Speaker 4: the country. And then at this stage you have sub
Speaker 4: Saharan Africa plus a couple of additional countries. Afghanistan is
Speaker 4: in that group. Pakistan is in that group where birth
Speaker 4: rates or fertility rates are actually well above replacement. But
Speaker 4: what's notable even there is that they are falling, and
Speaker 4: they're falling relatively quickly and faster than people thought. We
Speaker 4: might be okay, but the situation of falling birth rates
Speaker 4: is something that's rather unprecedented and something that at least
Speaker 4: so far, countries don't have experience in turning around.
Speaker 2: In the US, it's like the easy explanation that my
Speaker 2: generation talks about is lack of federal paid family leave
Speaker 2: and the high cost of childcare. But what struck me
Speaker 2: about this report is that, like you said, it's happening
Speaker 2: in two thirds of countries, many of which we would
Speaker 2: look at as being sort of models for having really
Speaker 2: lax policies when it comes to family leave. Is it
Speaker 2: too simple? Is my explanation for the US too simple?
Speaker 4: Yeah? I think there are a lot of reasons to say. Look,
Speaker 4: things like family leave, thinks, things that help families get
Speaker 4: some form of economic credit. Those are helpful, right, Maybe
Speaker 4: they even mean that birth rate doesn't fall as quickly.
Speaker 4: But as you said, if you look globally and you
Speaker 4: look over time, it seems really quite compelling to believe
Speaker 4: that that's not enough and that's not all that's going on.
Speaker 4: So just you know, give you a sense of the
Speaker 4: sweep of time. In nineteen fifty, which is the first
Speaker 4: year the UN started keeping data on birth rates, ructure
Speaker 4: found fertility rates Luxembourg was already below replacement. It went
Speaker 4: up a little bit in the subsequent years and then
Speaker 4: went back down. But you then had coming after a
Speaker 4: large number of countries in Western Europe and then finally
Speaker 4: the US in the fifties and sixties and seventies where
Speaker 4: birth rates actually fell below this replacement. Right, So looking
Speaker 4: and pointing just at things that are the case right
Speaker 4: now economically purely misses something fundamental in the explanation.
Speaker 3: Why should we be talking about this now? Just got
Speaker 3: about a minute left Olivia, and I think about no, no, no,
Speaker 3: I don't mean it as you know, but I do
Speaker 3: think watching significant trends. I think Elon's perspective is that,
Speaker 3: you know, civilization is going to die out.
Speaker 2: Mars.
Speaker 5: But the importance of why we need to talk about this.
Speaker 4: Yeah, So what one thing we did is we said, look,
Speaker 4: suppose that societies want to continue to keep their GDP
Speaker 4: per capital growth rate of the past fifteen years or so.
Speaker 4: That's basically, what sets our ability to have our living standards,
Speaker 4: to support our older people, to do our best at
Speaker 4: pulling people into a place of impoverm excuse me, of
Speaker 4: no poverty and empowerment. If we want to do that,
Speaker 4: given where birth rates are going in the US, for example,
Speaker 4: productivity growth has to go up by a factor of
Speaker 4: about two all else being equal. Labor force participation needs
Speaker 4: to go up by a factor of about three percentage
Speaker 4: points all else equal, or some combination of ross things.
Speaker 4: So that's why it matters, and it matters right now.
Speaker 5: Yeah, I mean thirty seconds.
Speaker 3: I mean, could technology along with all of us kind
Speaker 3: of living longer and maybe working longer, you know, could that.
Speaker 5: Make up for it again just quickly?
Speaker 4: For sure? Right, So this is sort of a call
Speaker 4: for innovation that helps drive productivity and that helps productive
Speaker 4: is probably not enough in all places, but in the
Speaker 4: US it might be. But making sure that we do
Speaker 4: that in a way that maintains the social fabric that.
Speaker 3: We want interesting, which maybe means you're way mow makes
Speaker 3: a lot of sense.
Speaker 2: Yeah, you don't need that person who would be driving
Speaker 2: you will do something else.
Speaker 3: Right exactly, Olivia White, Thank you so much. Always Fun,
Speaker 3: senior partner over at mackenzie and Company, Director of the
Speaker 3: McKinsey Global Institute.
Speaker 2: Carol, it's already that time of year.
Speaker 5: I know, Davos.
Speaker 2: Davos, she's rubbing your hands together. She's so cold. Yeah,
Speaker 2: you know, thinking about that trip to Switzerland. Yeah, now
Speaker 2: you'll be colder here.
Speaker 5: I'm going to be here. It's going to be really cold.
Speaker 4: Hey.
Speaker 2: At the World Economic Forum. Issues there are also top
Speaker 2: of mind for us generally, and when we talk about healthcare,
Speaker 2: certainly the cost an aging population, pandemics, AI and other
Speaker 2: innovation when it comes to treating and preventing disease, A
Speaker 2: new US president, what it means for regulations and more
Speaker 2: we've got with us. Robert Garrett, CEO of Hackensack Meridian Health.
Speaker 2: The organization called itself the quote largest integrated healthcare network
Speaker 2: in New Jersey. Here are some numbers. Eighteen hospitals, seven
Speaker 2: thousand physicians, more than thirty five thousand employees, and more
Speaker 2: than five hundred facilities that provide care for patients.
Speaker 5: It's a lot.
Speaker 3: Robert Garrett joining us here in our Bloomberg Interactive Broker
Speaker 3: Studio to have you back.
Speaker 5: Happy New Year.
Speaker 2: How are you I am great.
Speaker 6: Happy New Year to both of you.
Speaker 2: Great to be back.
Speaker 6: Thanks for having me tell me.
Speaker 5: You know, it is a massive system. There's a lot
Speaker 5: going on.
Speaker 3: There's a lot coming at us, every executive, publicly held
Speaker 3: private companies, institution, a lot of questions about twenty twenty five,
Speaker 3: and a lot of it has to do with what
Speaker 3: we get out of Washington, right.
Speaker 5: What's top of mind for you when you think about
Speaker 5: the incoming administration?
Speaker 6: So you know it kind of it's kind of from
Speaker 6: a healthcare perspective, I believe it's a little bit mixed.
Speaker 6: So what I look forward to is and you know,
Speaker 6: I know that the confirmation hearings haven't happened yet, but
Speaker 6: if RFK Junior gets in as our secretary for our
Speaker 6: Health and Human Services, certainly his focus on reducing chronic
Speaker 6: disease and on making the food supply more stable, safer,
Speaker 6: Like even yesterday the FDA right took action and said,
Speaker 6: you know, red dye number three needs to be removed
Speaker 6: from our food.
Speaker 2: I threw away some sprinkles when I got home. Yeah,
Speaker 2: yeah I did. It's like, okay, well I guess you're
Speaker 2: meeting me exactly. Yeah, it would have been could have
Speaker 2: been nice that it brought to my attention. You know,
Speaker 2: thirty years.
Speaker 5: Ago they banded for other reasons.
Speaker 2: My wife just like it's one of our top.
Speaker 3: Questions, were like, you banded years ago for X y Z,
Speaker 3: why not just get rid of it all?
Speaker 2: But exactly a bigger question.
Speaker 6: But you know, if there's a focus there drugs, I
Speaker 6: think that's a positive thing because you know, look at
Speaker 6: part of our mission is to transform healthcare, keeping people healthier.
Speaker 6: We want to reduce chronuct disease. What I worry about,
Speaker 6: you know, with the new administration is I want to
Speaker 6: be sure that policies are made based on science, whether
Speaker 6: it's vaccine policies, whether it's are you.
Speaker 5: Nervous it will not be under if RFK is.
Speaker 6: Indeed, I'm concerned, you know that, And my message would be, please,
Speaker 6: you know, follow the science, because look at what vaccines
Speaker 6: have done, how many millions of lives they've saved across
Speaker 6: the world. Look at the research that's been done by
Speaker 6: the National Institute for Health for example, and uh, you know,
Speaker 6: we've we've eradicated some diseases, we redo the cancer mortality rate,
Speaker 6: we're on the verge of a cure for type one
Speaker 6: diabetes that all started with research that was funded through
Speaker 6: the NIH, the National Institute for Health. If we don't
Speaker 6: have that research, then what then Then it falls on
Speaker 6: the private sector to continue that research. And that's always
Speaker 6: that's always very very difficult because organizations, whether it's pharmaceutical
Speaker 6: companies or healthcare systems, you know, there's there's multitude of priorities.
Speaker 6: I think that public private partnership that has existed with
Speaker 6: the NIH is the is the way to go, and
Speaker 6: I think the results have been good. And look at
Speaker 6: you know, is the CDC perfect? Is the NIH perfect?
Speaker 6: Probably not so. But let's not necessarily throw out the
Speaker 6: baby with the bath or water. So that's that's my message.
Speaker 6: So I think there's some some positives that could come
Speaker 6: out of this, but there's, you know, some cautions that
Speaker 6: we need to watch closely.
Speaker 2: Do you think that other people in your positions around
Speaker 2: the country share that same level of trepidation with certain
Speaker 2: parts and that is actually being expressed to the administration.
Speaker 6: Well, I actually participated in the Wall Street Journal CEO
Speaker 6: Council meeting which happened down in Washington about a month ago,
Speaker 6: and we did send a list of from the healthcare perspective.
Speaker 6: We sent a list of our priorities to the incoming
Speaker 6: Trump administration, and one of them was please follow the science,
Speaker 6: please support research. So that was on that was part
Speaker 6: of what we considered a priority for the new administration.
Speaker 6: So I would have to say, based on that conversation
Speaker 6: that happened down in Washington, that you know, many of
Speaker 6: my colleagues do support that, particularly those that are in
Speaker 6: the academic health system arena, because academics is about education,
Speaker 6: it is about research.
Speaker 3: Do you anticipate, though, that you might have to someday
Speaker 3: in the near future have a conversation with Elon Musk,
Speaker 3: who is looking at the efficiencies of government and especially
Speaker 3: when it comes to various health issues or the NIH
Speaker 3: and so on and so forth.
Speaker 6: Yeah, I mean, I think, you know, at some point
Speaker 6: I would welcome that conversation because you know, listen, I
Speaker 6: think there are some great ideas that are coming out
Speaker 6: of the industry to make healthcare, you know, more efficient.
Speaker 2: More affordable.
Speaker 6: But I also think there are some basics there that
Speaker 6: we have to watch and we don't want to again,
Speaker 6: you know, really reinvent the entire system. I think there
Speaker 6: are some good aspects of American medicine good aspects of
Speaker 6: American health care. It's not perfect, and I would welcome
Speaker 6: a conversation with Elon Musk.
Speaker 2: Interesting. Okay, let's I want to talk a little bit
Speaker 2: about priorities when it comes to the new year, when
Speaker 2: it comes to sort of the next generation of healthcare,
Speaker 2: we talk a lot about technology. If there's been sort
Speaker 2: of one theme that's just dominated our lives and the
Speaker 2: lives of public investors over the last couple of years,
Speaker 2: it certainly has been AI. We're told the big promise
Speaker 2: is in healthcare, drug development, pharmaceuticals. How are you thinking
Speaker 2: about it?
Speaker 6: I think that AI has come a long way in
Speaker 6: healthcare over the last couple of years. We as an example,
Speaker 6: at Hackensac Meridian Health, we have over three hundred use
Speaker 6: case pilots going on right now around promise, either use
Speaker 6: case pilots or AI algorithms that are in development. So
Speaker 6: around AI, yes, anything that's actually being used right now. Yeah,
Speaker 6: So let me give you a couple examples. You know,
Speaker 6: in the area of disease identification, which is really, you know,
Speaker 6: I think such an important area. We have a use
Speaker 6: case pilot, an algorithm that's been identified that will help
Speaker 6: physicians identify advanced and chronic kidney disease earlier. So what
Speaker 6: that might mean is if they can identify it earlier
Speaker 6: and start either prevention or start early treatment, it might
Speaker 6: it might mean avoidance of years of dialysis or even
Speaker 6: a kidney transplant. So that's one example. Another good example
Speaker 6: is in the area of precision precision treatment. So we
Speaker 6: have a pilot going on that radiologists are using to
Speaker 6: help identify breast cancer. And sometimes, you know, a scan
Speaker 6: does not identify certain types of breast cancer, but with
Speaker 6: the help of an AI algorithm, they can take the scan,
Speaker 6: take the information that's being given by that algorithm, and
Speaker 6: then say, hey, this patient really is at risk or
Speaker 6: this patient really does have breast cancer, and we need
Speaker 6: to treat that patient. So you know, in that sense,
Speaker 6: I mean, if you know, if you had me here
Speaker 6: two years ago, we wouldn't have been there yet. But
Speaker 6: at least we're starting to see some real efficacy. The
Speaker 6: other piece that I would say, you know, and you
Speaker 6: guys know this pretty well, there's a workforce shortage in
Speaker 6: healthcare physicians, nurses, and we're seeing still a lot of burnout.
Speaker 6: And when we survey our doctors and nurses. The reasons
Speaker 6: for the burnout is they're doing a lot of tasks
Speaker 6: that take them away from the bedside, and AI can
Speaker 6: help with those tasks. They can as an example, they
Speaker 6: can summarize notes and they and that's been very effective.
Speaker 2: Why is it still so tough to see a specialist?
Speaker 2: I'm not using your hospital system as as an example
Speaker 2: by any means, but by the way, careful what you wish.
Speaker 3: We had a colleague who had a doctor i think
Speaker 3: a week or week and a half ago order a test,
Speaker 3: called back and booked the appointment, and when she called
Speaker 3: back to confirm, and she's like, oh, that doctor's already
Speaker 3: gone and left the practice.
Speaker 5: Like there's just so much movement or.
Speaker 3: People leaving, or just there's a lot of stuff, or
Speaker 3: you can't even get in to see it in another case,
Speaker 3: like it's three, four or five months.
Speaker 6: Yeah, I mean there's definitely a shortage of primary care physicians.
Speaker 6: There's a shortage in certain specialty areas. I mean, we're
Speaker 6: seeing why across the country. Well, it's I think it's
Speaker 6: a variety of reasons. I do think that medical schools
Speaker 6: have not really incentivized physicians in the past to go
Speaker 6: into primary care. Sometimes it's for economic reasons. The reimbursement
Speaker 6: for a primary care physician is a lot less than
Speaker 6: a specialist, and the cost of medical education is so
Speaker 6: great that they a lot of students feel like, well,
Speaker 6: when I get out, I need to specialize in something.
Speaker 6: Plus our system, the US healthcare system has been very
Speaker 6: focused on treatment rather than prevention. But we have a
Speaker 6: medical school at Hackensack Mariti and we are doing just
Speaker 6: the opposite. We're incentivizing students to go into primary care,
Speaker 6: to go into psychiatry.
Speaker 2: How do you how do you fret an incentive for
Speaker 2: them if they're going to be paid, you know, a
Speaker 2: third of what specialists are.
Speaker 6: We have a we have a tuition forgiveness program, We
Speaker 6: have scholarships that are available if they if they go
Speaker 6: into those special.
Speaker 2: It's hard because the salary difference is so different between
Speaker 2: these specialists and these PCPs. I mean we're talking like
Speaker 2: could be like five hundred thousand dollars per year difference, right.
Speaker 6: And that's where more that's where we have to shift.
Speaker 6: And you know, in some European countries, like in Switzerland
Speaker 6: and Germany, where they've been more effective in prevention, there
Speaker 6: you see that primary care physicians are being are being
Speaker 6: paid compensated, either by government or by the private sector,
Speaker 6: a lot more than specialists.
Speaker 2: Hey, we heard from United Healthcare earlier today. This was
Speaker 2: the first time they spoke publicly about the killing of
Speaker 2: Brian Thompson back in December. How do you feel in
Speaker 2: a position like that about the reaction to that killing,
Speaker 2: the sort of populace revolt that we saw in the
Speaker 2: wake of that, the idea of this sort of you know,
Speaker 2: folk hero being somebody who took someone down. Listen.
Speaker 6: You know, we as a provider, we've had differences with
Speaker 6: insurance companies, but I would never ever, you know, advocate
Speaker 6: violence to resolve that. We sit down, and you know,
Speaker 6: it's disturbing to me that there is that kind of reaction.
Speaker 6: I understand people's frustration with insurance companies, healthcare insurance companies,
Speaker 6: but honestly, we need to work on those problems together.
Speaker 6: I don't think the answer ever gets solved through violence
Speaker 6: or or even making somebody into a hero because they
Speaker 6: murdered another human being. You know, I think about it.
Speaker 6: You know, I didn't really know Brian Thompson, but you know,
Speaker 6: he had a family and kids and you know, you know,
Speaker 6: my heart goes out to them because that was just terrible.
Speaker 6: I think the better way to resolve this is to
Speaker 6: to try to change policy, try your to work in
Speaker 6: a in a collaborative way, and I think I think
Speaker 6: there are opportunities to do that.
Speaker 5: How do we How do we do that?
Speaker 3: Because listen, Robert, you understand the system so well, and
Speaker 3: I think increasingly I just see it in our around
Speaker 3: the newsroom, you know, talking with friends and family. I mean,
Speaker 3: I think, oh, it just feels like, over and over
Speaker 3: it's getting more expensive. And even if you've got a
Speaker 3: great plan or you call in for coverage, and if
Speaker 3: you want to stay in the network, again, you're waiting
Speaker 3: months to see someone.
Speaker 5: It's it's problematic.
Speaker 6: Well, I think I think that's where you know, again,
Speaker 6: a public private partnership could come into it.
Speaker 5: But what is that? What is that?
Speaker 6: What I mean is what I mean is have have government,
Speaker 6: have government policy makers make it a priority to get
Speaker 6: let's get insurance executives, let's get healthcare providers together with
Speaker 6: with policy makers, and let's let's understand, you know, some
Speaker 6: of the issues behind the cost. Again, I would love
Speaker 6: to have the opportunity to talk about prevention, to talk
Speaker 6: about getting at some of the social determines to help
Speaker 6: some of those social factors that are causing chronic disease
Speaker 6: that's driving up the cost. You know, ninety percent of
Speaker 6: the healthcare costs in America are related to chronic disease, right,
Speaker 6: And eighty percent of what keeps a person healthy has
Speaker 6: to do with these social factors, talking about transportation to
Speaker 6: and from doctor's offices, stable housing, food, having access to
Speaker 6: fresh fruits and vegetables. Those social factors are eighty percent
Speaker 6: of a person's health.
Speaker 3: So you do wonder if the GLP one drugs are
Speaker 3: going to be very significant longer term. We will find
Speaker 3: out ten twenty years from that, right, if they're still
Speaker 3: in use and there's no serious side effects, whether or
Speaker 3: not that changes kind of the longer term healthcare.
Speaker 6: I mean, that could certainly have a profound effect. So
Speaker 6: I do think that you know, a better way is
Speaker 6: to collaborate to these have these discussions and let's get
Speaker 6: at some of these issues. And even even with respect
Speaker 6: to some of the issues that you know are frustrating patients,
Speaker 6: like pre authorizations and deny old denial of care, Let's
Speaker 6: get at that let's say I would welcome a summit
Speaker 6: between healthcare providers, even patient advocacy groups and insurance companies.
Speaker 3: Fingers crossed yes, because everybody's got a story and it's unfortunate.
Speaker 5: Robert, thank you so much.
Speaker 2: Save Travels, thank you so much.
Speaker 6: Great to see you guys.
Speaker 3: Always appreciate having you stop by. Robert Garrett he's the
Speaker 3: CEO of Hackensack Meridian Health.
Speaker 5: I've been there. I've been to the system and Hackensack
Speaker 5: many times, so just full disclosure. Joining us here in
Speaker 5: our interactive broker studio