The X PRIZE Foundation, Wellpoint, Inc. and the Wellpoint Foundation Unveil Initial Design for Revolutionary $10+ Million Healthcare X PRIZE
April 14, 2009
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WASHINGTON, DC, April 14, 2009 — THE X PRIZE FOUNDATION, a nonprofit organization that drives innovation through large incentive competitions, in collaboration with the WellPoint Foundation, one of the nation's largest private foundations, and WellPoint, Inc. (NYSE: WLP), the nation's largest health benefits company in terms of medical membership, announced today the initial competition design for a $10M+ Healthcare X PRIZE.
The Grand Challenge for this Healthcare X PRIZE will be to create an optimal health paradigm that empowers and engages individuals and communities in a way that dramatically improves health value. Following today's announcement, the public is invited to comment on the approach and provide feedback to ensure that the competition results in affordable, high-quality health care for all communities. An overview of the initial prize design and guidelines are available for public comment at www.xprize.org/wellpoint.
The initial X PRIZE design was announced jointly by Dr. Peter H. Diamandis, chairman and CEO, The X PRIZE Foundation and Angela Braly, president and CEO, WellPoint, Inc. They were joined by the Hon. Bill Bradley, former U.S. Senator, and managing director, Allen & Company LLC, and the Hon. Newt Gingrich, former Speaker of the House and Founder, Center for Health Transformation, for a health care discussion moderated by Susan Dentzer, editor in chief, Health Affairs.
"President Obama has called for bold new ideas to revitalize our health care system. We are answering that call by developing an innovative incentive prize that optimizes the health of all Americans and significantly increases the value from every health dollar," said Dr. Diamandis. "This is not the situation today and we need to change it. Ultimately, you get what you incentivize. If we can refocus our health care system on helping individuals optimize health, and reward providers who improve outcomes, the implications over the next decade will be profound."
"I'm very pleased to be part of this developing X PRIZE competition," said Sen. Bradley, "This prize will bring together people from different elements of the health care system and get them collaborating to devise a new system that will produce the highest quality health care for the greatest number of people at the lowest possible cost. The greatest key is tapping into the American people; if you have got a great idea, put it forward."
The collaboration between The X PRIZE Foundation, WellPoint, Inc. and the WellPoint Foundation to design a $10M+ Healthcare X PRIZE was announced in October 2008. Since then, hundreds of comments from the public and leaders across the health care industry have been collected from The X PRIZE Foundation Web site to create the initial design announced today.
The Grand Challenge for this Healthcare X PRIZE will be to create an optimal health paradigm that empowers and engages individuals and communities in a way that dramatically improves health value. Following today's announcement, the public is invited to comment on the approach and provide feedback to ensure that the competition results in affordable, high-quality health care for all communities. An overview of the initial prize design and guidelines are available for public comment at www.xprize.org/wellpoint.
The initial X PRIZE design was announced jointly by Dr. Peter H. Diamandis, chairman and CEO, The X PRIZE Foundation and Angela Braly, president and CEO, WellPoint, Inc. They were joined by the Hon. Bill Bradley, former U.S. Senator, and managing director, Allen & Company LLC, and the Hon. Newt Gingrich, former Speaker of the House and Founder, Center for Health Transformation, for a health care discussion moderated by Susan Dentzer, editor in chief, Health Affairs.
"President Obama has called for bold new ideas to revitalize our health care system. We are answering that call by developing an innovative incentive prize that optimizes the health of all Americans and significantly increases the value from every health dollar," said Dr. Diamandis. "This is not the situation today and we need to change it. Ultimately, you get what you incentivize. If we can refocus our health care system on helping individuals optimize health, and reward providers who improve outcomes, the implications over the next decade will be profound."
"I'm very pleased to be part of this developing X PRIZE competition," said Sen. Bradley, "This prize will bring together people from different elements of the health care system and get them collaborating to devise a new system that will produce the highest quality health care for the greatest number of people at the lowest possible cost. The greatest key is tapping into the American people; if you have got a great idea, put it forward."
The collaboration between The X PRIZE Foundation, WellPoint, Inc. and the WellPoint Foundation to design a $10M+ Healthcare X PRIZE was announced in October 2008. Since then, hundreds of comments from the public and leaders across the health care industry have been collected from The X PRIZE Foundation Web site to create the initial design announced today.
Companies Mentioned:
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