Health

Fortune favors the brave

May 01, 2015

Global

May 01, 2015

Global
Monica Woodley

Editorial director, EMEA

Monica is editorial director for The Economist Intelligence Unit's thought leadership division in EMEA. As such, she manages a team of editors across the region who produce bespoke research programmes for a range of clients. In her five years with the Economist Group, she personally has managed research programmes for companies such as Barclays, BlackRock, State Street, BNY Mellon, Goldman Sachs, Mastercard, EY, Deloitte and PwC, on topics ranging from the impact of financial regulation, to the development of innovation ecosystems, to how consumer demand is driving retail innovation.

Monica regularly chairs and presents at Economist conferences, such as Bellwether Europe, the Insurance Summit and the Future of Banking, as well as third-party events such as the Globes Israel Business Conference, the UN Annual Forum on Business and Human Rights and the Geneva Association General Assembly. Prior to joining The Economist Group, Monica was a financial journalist specialising in wealth and asset management at the Financial Times, Euromoney and Incisive Media. She has a master’s degree in politics from Georgetown University and holds the Certificate of Financial Planning.

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On the front page of its June 2012 edition, the Chinese journal Health News published a poem by Chen Zhu, the minister of health. It read, in part, “The wind and thunder moving health reform across the country herald glad tidings/.../The deep pool is nothing to be afraid of…Heroes dare to cross.” Unorthodox though it was for a strategy memo, it turns out that this call to action may contain good advice for companies.

Those respondents who benchmark their company’s financial performance as much better than peer companies are more likely than average to see health care reform as presenting high levels of opportunity (61% versus 47%). Accordingly, they are more likely to have taken a variety of proactive steps in response to health care reforms.

Executives at these companies also believe that their efforts are paying off: 56% of those with much better financial performance say that steps taken by their firms in response to health care reform have positively affected profits; the equivalent number for the rest of the survey is just 35%. Reform is inevitable. For the “heroes” willing to leap the abyss, health care reform may indeed bring glad tidings.

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