TRANS Conference 2017 Press room interview with Steven Mo Dr. Steven Mo, PhD

TRANS Conference 2017 Press room interview with Steven Mo Dr. Steven Mo, PhD


What motivates you to come to the TRANS Conference? I think this is a second year that you guys hold TRANS Conference which is as I understand is the largest healthcare incubator conference in Asia Even though I grew up in Taiwan one of the most exciting thing is to see young generation people come from all over of Asia, in the Europe, in America To join together to learn from each other and the most important part is how do you figure out this healthcare ecosystem This is evolving everyday, right so how do you learn from the different speaker interact with different audience and client and then bring the lesson that you learned to your own company to hopefully create some value in the future What was the most attractive part of this Conference? I think beside you guys the very very good job in selections on the great speaker, right I found I love all the speakers so far One of the other part that is not a speaker part is the amount of effort that you put in to set up this conference like theme the amount of engagement I give to the students and competitors And that they’re let me see the new generation, the new plug, right The new further that come to the conference and they’re really excited me even though I’m little older than you guys but that still make me felt very very good waking up, you know every morning to want to go to conference According to your experience, what have you learned in the big company and the startups? That’s a very very good question So, as yo probably know UnitedHealth Group is the largest healthcare company in the world Our revenues 184 billion last year Under UnitedHealth Group we have 250 subdivision subsidiary So, even though we are a very very big company at any given time UnitedHealth Group formed startup on our own We also go outside in acquire of startup We acquire on average 40 startups per year at the whole UnitedHealth Group Enterprise So one of job as the VP of the company doing strategy is I can go very very deep to do some very operational work with the startup to learn about the thing we’re doing what do we start that we create on our own or start we acquired we go to very very top to talk with the C-level executive about what is strategy, what is the vision, what is the next future plan that I need to step for my company so the broad spectrum of going from a very initial stage getting funding to the mature stage of getting their operation thing make me exposed to hundreds and thousands of employees in my company and that itself is a very great learning experience A point number two because our company is headquartered in US but we do have footprint over 50 different countries so having the international experience by travelling different parts of the world also make me appreciate even though it says big company have lots of small parts you can learn the cultural value from individual society and bring the culture value whether in healthcare ecosystem or another industries mingle integrating to a holistic view In the push for a product every better a certain need for the people and that’s really make me find out of my job UnitedHealth Group is the biggest service provider in the world and what is the goal and the strategies in the future? Yeah, just like any company one of our main goal is to increase your holder value, right So our stock price increased 300% in the past five years That’s one big goal, right We only keeping increasing our stock price make sure our shareholders happy but most importantly we believe the US market even though we did a pretty good job it’s kind of saturated, right So next big thing is how do we enter the different parts of the world We’ were entering England, India, Brazil, right Now working about secondary markets like Middle East, Russia, Germany, France How do we enter those other different market in continue you whether to partnership or acquisition to combine the talent and future together So you can go out and try to push the next frontier Well, the ambition is hopefully one day will become a large healthcare company not only in US but in every single country Hopefully we’ll enter Taiwan also So, I’ll be honest with you right now We don’t have any company in Taiwan yet Could you please share the reason why you transfer from biomedical and engineer to consultant? Yeah so, as we probably know early part of my career I was a bio engineering, then startup, and consulting, and then corporate the big company One of the thing it’s doing a bio engineering can make you become very very smart I can do like pie pad right, bench work All the time I’m very very smart to figure out the formula but one fundamental thing that’s missing when you are a very deep scientist is how do you translate the scientific world to the actual patient practice is that in a day you hope quandary you do on the bench level can you influence an impact patient at a deeper level so that’s what I do it’s like starting about how do I solve this problem not on the individual tissue culture or self-play, right How do I solve this problem at the holistic bigger view that can drive the value of millions, billions of patients and that’s one of my mind straight from Okay I need to be a scientist I need to understand the fundamental science but at the business sense I was only doing a very good job because you’re trying your value in the society You had a new know how to do the business operation You had understand how to drive a value from idea to product to service and then bring the revenue back to it is positive loop so that’s when I make decision to go from, you know bio engineering to a consultant to learn about the strategy consulting the management site Because consultant I would say the Boston Consulting Group, BCG They’re really teach you a skill how to run a big corporation at very lean and fast style and then I left BCG to join Optum at UnitedHealth Group. What’s the special part of the your healthcare company? The special part? Yes Of course as I mentioned before talent, right One of the thing I do everyday I interview people, right how do you bringing new talents to company Hopefully they would try more value and productivity for my work But second the most important thing about, you know The fun part of my job is I get interact with so many cool ideas in healthcare at the time, right Whether it’s time you start up in Boston, in London or even in Taiwan All the way to talking to venture capital we are part of acquity we try to buy some of our value or we try to co-invest in some other company The ideal interacting in this ecosystem learn about new ideas each day and to pitch to think about what is the next big blockbuster to bet on that make my life very very exciting What’s the future development of Optum? So Optum even though we are already the largest healthcare IT company in the world one of our ambitions right now We will try to shift from advance analytic to AI I know be talking about AI Artificial Intelligence for many many years We’ll do believe in next five years AI will become one of the best tool to leverage in healthcare to reduce the cost to increase the productivity and also to increase the value based healthcare and that other self is the one of the main goal of Optum The second part of Optum which we try to bring down the pharmacy, the bio pharma, and also medical device company bring everybody in the healthcare that touch some heart some part of healthcare into one ecosystem So what one thing Optum is doing is how do we create platform a value tour so we can bring all the different people from ecosystem integrated because if when everybody is in the same library in the same data link all the cost will track down and everybody can benefit in the same cycle Could you please say something to encourage healthcare startup in Asia or students doing in this area? Yeah, I would say as a young whether it’s entrepreneur or if you are students who have no idea wanted to start up or you know join a big company One of the most important thing at least in my earlier career is find out something that you can wake up each morning and feel very very, you know excited to do If you work for money, you can do felt boring after a few weeks If you work for the fame, right you join a company that’s very very famous but they actually do something you don’t like you’ll very very bored If you work for startup because it sounds cool, you know you talk to your friends “I have started a startup and I’m a CEO” you will fail also Yes, people only look at your title, you’re the CEO of this company But you don’t have an actual value of product to drive it wouldn’t increase the value So beside the three things I talked about that That’s the no no I do not do it One thing is Okay, if you do it in healthcare you understand to find something you like be able to find something you like and you’re also good at, right If you are good at let’s say do in science scientific work And then somebody says “Hey, I will give you the chief marketing officer position.” You go out and pitch yourself copied from my phone and say “Hey, I find my problem in my heart and you gonna fail” Yes, you are not good in selling So you need to figure out what is your background what is your what make you do the best work and after you figure that one out You did go back and identify right into the pie or ice matrix on yourself One it’s like the thing you like one is the thing you are already know In that in the top right corner which is how do I drive the value for myself what if you start off the company in healthcare and that will bring you very very far in your career And the last one is, you have to look at the camera and read our slogan The slogan is TRANS, different languages, same purpose I’m going to read three times, okay You can do it at any time well Okay So, look at that? Okay TRANS, different languages, same purpose

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