NEW YORK CITY, NEW YORK — They say that change is the only constant in life, and this could not be more evident than in modern society. From radical politicians and political parties to violent human rights riots to an unprecedented worldwide pandemic, calling the current societal climate tumultuous is quite an understatement. These changes within modern society are causing ripples in every industry worldwide. In healthcare, the confluence of Covid-19, technological change, and an era of disinformation have created challenges in patient-provider relationships and generated distrust for the healthcare organizations and professionals among the general population. Fortunately, business experts, like Gabriel Paz Larach, are developing revitalized financial, operational, and care delivery models to build a compelling patient experience that nurtures the patient-provider relationship and fosters a stronger sense of trust in the healthcare system.
Paz Larach is the Assistant Director of Business Development and Operations in the Department of Clinical Affairs and Affiliates at NYU Langone Health, one of the nation’s premier academic medical centers. Having focused most of his career within the retail and consumer space, he’s built deep expertise in business innovation and omnichannel customer experience strategy and operations. He developed said experience during his tenure at leading global companies like Oliver Wyman, LVMH Moët Hennessy Louis Vuitton, and Goldman Sachs and his studies in retail innovation and customer experience strategy and operations at Harvard Business School and his studies in economics at Brown University.
Based on his experience and broader market trends as well as the unparalleled circumstances of today’s world, Gabriel speaks to the forthcoming changes in healthcare:
“There’s a wave of consumerization happening across different industries, meaning that all types of businesses are now focusing their business innovation models on the end-customer. Advances in AI, biometric recognition software and hardware, and wearable devices, for example, are increasing the emphasis on big data and analytics more than ever. It started with retail and consumer goods companies but it’s permeated ever since across other spaces like financial services and entertainment, with the business models of Amazon, Marcus by Goldman Sachs, and Netflix being prime examples. Though regulatory, insurance, operational, and behavioral hurdles are making the consumerization of healthcare more gradual it will happen nonetheless.”
Cross-industry pollination and talent hiring has become happening more and more in the last decade, seeing executives like Angela Ahrendts (who moved from her chief executive officer role at Burberry to head Apple’s retail division) or Marco Argenti (who moved from Amazon Web Services to Goldman Sachs as co-chief information officer). Such moves are what help companies grow and innovate by bringing outside perspectives that can create meaningful change in an operation.
Given his business expertise, Paz Larach moved to NYU Langone to lead the development and implementation of strategic and financial plans that improve the patient experiences and payment operations as Covid-19 has accelerated change within the healthcare space.
“Surely if there’s anything that the pandemic has taught us is that being agile and adaptable is key but preparation is necessary to be so. Ensuring a seamless and positive patient experience, from care delivery to payment processing, has been at the forefront of NYU Langone’s strategy. This is why when Covid-19 emerged we were able to switch over to virtual visits rather instantly. It’s also why we’re positioned for success as we’re seeing now that patients, much like with other parts of their life, are expecting convenience, transparency, and personalization,” said Paz Larach.
And on what it will take to achieve continued success, he shared: “It’s not just about investing in technology but also in people and processes that will help it deliver a new, more honest and personal way of engaging with providers and patients.”
Gabriel’s strategic and operational know-how around omnichannel customer experience will better position NYU Langone to adapt to patients’ changing needs and concerns in these unusual times.