YouSaid · the spoken record

Roy Jakobs

lines on the record: 78
first: 2024-09-16
most recent: 2024-09-16
sittings or episodes: 1
sources: podcast

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“Thank you for having me, and that was great to engage on the future of healthcare and providing better and more care for people.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“So, don't start to practice based upon what Dr. Google says to you. So if you have a serious problem, please still make sure you get a serious support. Meaning you go to your current support system, whether it's a nurse, a doctor, that actually can give you the professional support that you need. There will be a line that will be growing in terms of what is it that you can do yourself to actually make sure you keep healthy and also you diagnose or not diagnosed, but you measure the moment you start to go into diagnosis, there's very quickly the point that you need to get into the professional system and then also, of course, for any intervention that needs to happen, that's where you end up. But that kind of line where actually we can propel people to actually take more proactive care of their health, I think is a very important one to make sure we have a sustainable healthcare system for the future.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“There is an educational component that actually is rising very fast. People can get self-educated in a much better and faster way than ever before. There's also a downside to it, which is actually they become doctors themselves or they pretend they kind of know themselves here. So again, there it's between what is it that you can act upon yourself. So the self-care component where we see growing interest of consumers to take care of their own health is an undeniable trend already for long. And actually you see people getting more engaged, getting more involved, measuring helps, making them aware helps offering tools that they can act, helps. But that's not yet at scale that it reaches everybody. And for some others, you need also to be mindful that Dr. Google is not an official doctor”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“That's the regulated side, right? You have the four streams, and there's one very important piece of that puzzle on the consumer side. It's just the Wild West. How do you see that playing out? How do you get people to understand what's important and what's not?”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Kind of current routines and practices, which is for disease, you go to hospital, you see a doctor physically, and that's how you consume healthcare practice in today's world.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Because these four have to come together, that's why you see that actually changing healthcare is difficult and it's not always going as fast. We had the ultimate example in COVID because of the crisis. Actually, these four had to come together. And I always say kind of the example in digital health was the most pressing one. People move at different clock speed and moving to digital health or digital consoles. There was no way to do it in a different manner. So people had to go to digital consults. So suddenly there was financial support for doing digital consults. Doctors were changing their way of applying medicine by actually offering digital consults and actually regulators said, okay, we accept that this is a practice that you can do. And that happened within months, not years, right? But that's actually where you see also in particular moving into the home. It requires these four swims to come together at scale. And that's where you see that healthcare system, but also the governments and the public is still more challenged with, that continuing the...”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“But the last point, and it's also maybe a good one for a total perspective, I always say if you want to change healthcare systemically in a big way, you have four streams that have to come together. Technology is one of them. Change behavior, change practices, and we are pushing that envelope, and there's a lot available. The most important actually is the clinical practice that needs to work with that and do they adopt it to change the way that they work? That's the second stream. Then thirdly, you need to have the financial regime that supports that different way of working. And then the fourth stream, you need the regulatory stream to make sure that this all happens in a regulatory environment that is kind of for the medical field.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“As part of that, we provide to pregnant mothers information. We are actually the single biggest used app in the United States, pregnancy app, half of the models that are pregnant use our app. They use that for daily information to look at how is my child evolving, what are things that I should be thinking about minor nutrition, my movement, when do I need to go and see a kind of doctor for checkup. So that actually is informing them in a really, really relevant and meaningful manner. But it also gives access to a certain group of people that might need to be pulled into the hospital. So now you can start to overlay it with a government, and so we also have discussions with government because they're concerned with high-risk pregnancy, where actually you can inform them and say, hey, there's a policy out there that you can get access to three scans during your pregnancy. So please use it.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“No, so for me, it depends on what you want to do with it, right? If you want to understand how a person living, is he moving? Is he experiencing certain stress levels? Which is different than coming to the ultimate diagnosis of he has an arrhythmia failure and this is the treatment that you need to do actually to treat that. That's a real clinical application that needs to have the full rigor development testing of a clinical use case. But if you want to treat a patient, more and more it will be holistically will not only be you have a problem with your heart. No, it will be, okay, how can we deal with it in addressing it, not only in kind of solving what is not working, but do you need to change your lifestyle? Do you need to kind of behave in a different way? And how can we get you to behave in a different way? So that's something that actually we're working. I give you another example. We have our modern childcare franchise.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“I think there will be a phase where more contextual data will be loaded and they will be very kind of relevant. We also are open to that. So if cardiologists or kind of want to look at the Apple Watch data, they can actually insert it into our data set. Because as I said, we believe.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“So the line is the clinical application. So we are, and that's also how we kind of go actually from hospital into home. Of course, we have our own self-care propositions, but they're different, right? If you look at what we do with our healthcare, we are kind of making sure that an oral care routine is being adhered to, right? And we know how to actually do that. We train and we kind of ensure that kids do it with specific applications. We make sure that people do it multiple times a day and we support them with the best technology. So that's one piece of it. But the other piece is take monitoring as an example. We have monitoring solutions that also go outside of the hospital where you kind of diagnose in a week's time, in a month's time, whether there's an arrhythmia that you need to detect. But those are clinically validated products that support doctors and they also trust in and upon.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Not practice medicine as such. So that's kind of where there's still a threshold in what we do and what we kind of innovate for.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Think it's a very fair question. We clearly indeed distinguish that we don't practice medicine as Phillips. So there's a clear kind of threshold where we say we don't go to that level. So there is an ultimate responsibility accountability of the decision maker, the practitioner that actually applies. But we feel very accountable to make sure that our technology that supports is safe and of course what you will also see that if there is a problem with it, we will take the accountability, but also we'll have to step in to resolve it to the best of our abilities and we will also be held to account for it. We are also in a world, in a regulatory frame where actually that is also governed and I think we'll look after that. But we ourselves need to take that responsibility. That's where it starts. And that for me is regardless of that requirement. But we will not take the ultimate decision or we will not.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“And we will need to support them with the best of our abilities to make sure they can do their job. Because what I also know, and probably when you have the menu family, I know many of them are very overworked. Kind of many of them are burned out and they have challenges dealing with the load that is on top of them. And then it's also for us as technology company to make sure that technology does make their job harder, but actually really helps them doing it better and faster. And that's what is upon us in this journey and it's exciting collaboration that we have on that.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Scan that we can take the images because we just see there are more images taken per patient. The chronic diseases require more, new medicine requires more. And then also for us it's about what is the technology use case that we can offer so that actually we can do it better, that we can do it at lower dose. So it's less intrusive, that the experience get better. As I said, if you can half the scan time, so an MR scan doesn't take an hour but 30 minutes or 15 minutes, of course, is a much better experience for a patient. So I think there's a lot that technology can do that goes beyond just the reading, also to help improve the workflow process from the moment that actually people schedule up to that they need the kind of the outcome of the examination. And I still believe that we will have radiologists in the future, but the one thing I know for sure is we will not have enough.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“My view is, I don't think it will take the human fully out of the loop because there are certain complexity in cases that I think you always want to have ultimately in human oversight for. Actually, I think what it does, and actually there, AI is necessary for, and actually software is necessary for, we will not be able to catch up between the growing need for imaging versus the amount of radiologists that are being trained actually to do the examinations. So there will be a growing divide between supply and demand and to Kind of case to make sure that we can”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Take a scan, we make sure when a scan is taken that actually we can take the most urgent and critical cases and put them in front of a queue for radiologists to look at. So there are real tangible examples happening today, and that's indeed using LLM models for the relevant use cases, but also still using traditional AI, numerical haircut have to come to certain predictions where we are in the ICU. When we look at patient deterioration in the ICU, our monitors can actually predict in 24 or 36 or 48 hours if there is an event going to happen based upon deterioration signals that are being interpreted and specific algorithms that are developed for that use case. So I think there is this combination between using the technology partners for the technology at scale, which is either taken to the cloud, foundational models, and we have the clinical translation to actually make it really relevant for the use cases.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“And actually, we did it with a provider specific provider in the Netherlands, Le Medical University, where they had 200 researchers on it. We had a team of 200 on it together, develop a model that actually makes sure and turns into an algorithm that is very specific for the use case. So it depends also on kind of what is the application area, what model you use. So we have a mix. We are not, I believe, the party that develops the foundational model. They're the big technology players that do that and we partner with them. But we are the ones that actually develop that into the clinical application layer that actually has the workflow solutions, that has the specific software solutions to improve the performance of products, to make sure that actually lands in healthcare practice in a meaningful manner. And there I give these example the practical example of the increased scan time. We use AI to actually help take noise out of the images when people go through a scan so that they don't have to re-”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Doing both, so we use models from partners. Concrete example, we have a strong development partnership with AWS, where actually we are looking into imaging, as you mentioned. For example, the image acquisition system, the PACs needs to be taken to the cloud. That's an effort that actually we both are looking into from our own perspective and from their perspective, how we can best support that, what are the models that actually can help do so. So that's one of the example cases that is out there. We also use some of the models and then train on our own kind of data the model to kind of make it specific for a clinical application area. So give the example when we wanted to develop the smart speed, making an MR to scan faster, in essence three times faster, that's something that you do with your own data. So use a base model, then you're going to train it based upon your own data.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“One of the pieces of the puzzle there is the actual core AI technology you're using. So maybe for complaint management, you have an LLM AI that's doing whatever it's doing there to manage text. Maybe that's what you're using for informatics for nurses. In imaging, which is where a lot of the promise of AI and healthcare lies, you might be using a different model. Are you partnering with outside companies to build those models? Are you training your own foundation models? How does that work for you?”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Mechanisms do you put in place to actually capture that faster and better? And they're actually AI we are also adopting and using in dealing with complaint management because generative AI, of course, a lot of complaints come in also in text. They are descriptive. And actually you can also use technology to make sure that actually you interpret it better, faster. So you complement again the kind of human element of it by also using the late technology to actually process some of these in a better and more accurate manner.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“It's tested very well. So also, therefore, qualify what are different use cases and therefore what kind of risk do they have and therefore what robustness do they need to have in the process of delivering a solution for it is very important. And then last but not least, of course you develop it together with the practice. So you never do it in isolation. That's very important. So you're very close to the clinical practice. all AI that we develop is developed together with providers right we use patient data sets that are kind of jointly worked at so that actually you don't only look at it from your perspective but also from others so that you have the multiple Zias principle that when you bring something out to the best of your abilities you have kind of made sure that you deliver effective products now you still need to be alert because there's no perfect world things can happen problems will arise and then again you come back to what”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“You go from, I would say, kind of you can start with the lower risk areas. There's a lot of routine tasks in healthcare that you can address. Let me give an example. A nurse spends on average 20 minutes an hour doing admin tasks, meaning they need to kind of write down certain measurements, they need to kind of transfer data from one system to another. Actually, AI can really help in doing that faster but also even more accurately because of course if you have manual labor there's also risk error that goes to that. So actually there you can really improve and lower the risk profile. If you go closer to especially interventions you want to make sure that actually the decision support you provide is at the highest tested level of security and patient safety. Next to that the doctors will make the ultimate decision so it's decision making and support tool but you need to make sure”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Because we want to be ahead of it and we want to think through what are the different parts that you need to kind of address to make sure that AI is applied in the right way. And thinking about a few areas. First of all, you need to be very clear on what problem is it solving so that you can be specific around what you measure in terms of how effective it does it. So the testing validation methods around that need to be adequate for software testing and evolution. Secondly, you need to kind of with software is very important what are the data that you use that they are representative that actually they make sure that they deliver the right outcome for example equal healthcare you need to make sure that actually you make it right for the right patient for the right patient group so that's another angle that you that you can look at and then also you look at how”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, I think so far has, I think, first of all, a lot of benefits to give and to offer to healthcare. So I'm very excited about what software can do and what AI can do. But with any technology, you need to make sure that it's being used in an appropriate manner. So testing, validating, making sure that you have the feedback loops is critically important. So one of the reasons why actually I stepped into the National Academy of Medicine initiative where it's about developing a code of conduct for responsible use of AI in healthcare.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Way and then actually make sure that first I'm right, you actually design the products for the future in the way that they are safe, adequate, effective, and really deliver more and better care.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Yes. So if you go to some specific areas, and again, complaints management is an important one. I've been very clear in the culture. It's all about Speaking up Acting fast when we see things happening, which means that if there are complaints coming in, catch them early, address them quickly, and deal with them rigorously. Now, that is the journey that we're in, and that's actually the improvement that we also seeing. So we had significant amount of complaints coming in there. That was the learning. How do you deal with that in a systemic way in a different way? So that's, for example, one of the concrete examples where you will see complaints going down. We also see it already in business units, and we have been working on that to kind of how can we bring these parts down. But also, I always say kind of there's part of you have a structure out there of products that are serving the market that you need to act fast on. And then there is, what is that you bring out new as innovation? And you make sure that actually that has the highest standard. So you work on two parts. One is what is it that you need to address and deal with from the past and actually make sure that you act on that very fast in the right place.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“There were just not enough of them. Now, that's something we also focus a lot on. So next to patient safety, we made a lot of progress on supply chain improvements. So actually, we're now currently fully in line with the lead times to the market, and we can fulfill them when they need it, and then actually doing it in an agile way so we are better and responsive to what they need.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“And then you kind of put the right people on it. And then you can go on this improvement journey. Because as we also know, you don't change a company from one to the other day in full. There are steps you need to take. And that's kind of the journey that we have been kind of going on. We have seen and you have seen that we are very serious about it. We have been delivering our commitments. We are halfway to plan. So we are also for sure not there yet. There's much more to do and to come. But we made demonstrable progress. The company is growing again. We have closed certain chapters of recall, which were very important, including, first of all, giving the patients the new devices, getting to the consent degree, getting the litigation in the US behind us, focusing on innovation again of all the other parts of Philips, because we came also out of COVID with a lot of supply challenges. And then you have these poor healthcare systems that already are challenged and then also are still waiting for products from the suppliers.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“And then they were giving it to the sales team and said, And now you sell it. So this was a sequential approach. And then you had this matrix where it was divided up. That's where for me at the heart of the decision was, no, we need to get these teams talking from the first moment you go through the process and do it together. So then you put manufacturing, supply chain, sales, engineering, and R&D in one team. That's the business team. So this change in accountability was very much at the heart of taking the learnings from getting into this and saying how can we change this is changing at heart how we drive innovation because that's the core of what we do. And then if you do that within a coach or it's very clear that patient safety and quality is the first priority, that you then have the right people with the right competences to also ensure that that's being delivered, then you get to a holistic approach where you have changed the way how you do innovation, you put the right frame culturally around it.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“So, those are things. The order of learning and decision making is also kind of even being more rigorous in terms of any assessment that's out there that's on the verge of patient safety and quality. Get all the voices on the table included. And one other decision that I took going to innovation is that the way how we innovate needs to change. And I said we move from a sequential innovation approach to an integral innovation approach. And what I mean with that very practically is that when we were innovating, we had a technology group that was coming with the greatest technology. And they would give it to a business and a product group in a business that said, okay, you turn this technology into a product. And then actually that group gave it to the manufacturing team and said, now you need to make sure we can produce this unit. And then my manufacturing team was giving it to the supply team. And the supply team would say, okay, now you make sure we can distribute it.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“I think you learn through this experience for sure the learning in terms of Progressive insight along the journey is something that is really important how to deal with that in the best possible way. Because as I said, when we started, for example, the recall versus where we are now is completely different perspective from also insights. And that means even that actually, if you look at it now, yeah, would you have done things differently? Yes, we might even have done the recall differently. We might have established a process differently in terms of making sure that we could replace them in the best possible way, in the fastest possible way. We went all out to kind of ramp up and I was in a very challenging period, but there are still learnings in terms of how can you do that better with more supply. Take an example. Can you have a flexible supply chain where you have multiple suppliers instead of single source? Single source makes you dependent on fewer suppliers, then it's harder to scale up. And therefore, it was harder for us to kind of go with the fastest track that was kind of there. Although we already kind of quadrupled our production.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Questions on testing, which we have fulfilled, and as I said, the testing has demonstrated that actually we have been delivering safe and effective products. So for me, there's a difference between patient safety in this case and the learning and the need to improve how we actually run a process, how we adhere to that, and how we fully fulfill the needs that was required and that are required by the regulator. And there we agreed go into this trajectory where we are fully committed. I'm fully committed. The whole company is fully committed to take patient safety and quality to a different level, including doing it specifically for the”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Yes, because there's a distinct difference between we have delivered safe products to the market, but what the FDA acted on is the processes to deliver these products were not followed as per the standards that FDA would like us to follow them. So that there were deviations found in the process that was kind of coming out of the engagement with the FDA. We acknowledge, we said, we can do things better. And that is delivering with quality all the time. That is adhering to these processes. And that's what also a consent degree is governing. So a consent degree is governing, okay, how have we designed? Please look at your designs again. Make sure that you deliver the best products and continue to do so. But the FDA has also not said that kind of we have not delivered safe products to the market.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Because I believe it really starts with that. Building a process and system that actually really takes us always at heart. And as you have seen as well, we made a lot of progress in the journey. We also concluded certain steps, but we still have more to do and more to learn. And I think it's as important to be open to that. And then you keep on this improvement journey across many fronts, including patient safety and quality.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Products that we continue to deliver to the market. So actually the decision proved right from a perspective that actually there was no patient risk or safety involved. But we did have a product that actually did have degrading foam and therefore actually we replaced it, which I think was the ultimate decision to say kind of we go into head recall and replace it. So it was a tough decision, a very challenging matter, but we did the right thing and that actually something that we now also take as a learning into what is it that you do in these kind of cases and you make that a learning organization from a patient safety and quality perspective. As I said, I put patient safety and quality at the executive table. In the culture of impact with care, I've been very clear and from my day one I've been very clear that patient safety and quality is my number one priority. And not only by wards, but actually then also putting the right people and capabilities.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“And let me be specific so this case was not about selling the machines, it was kind of providing the service. And when we understood that there was potential harm, that actually we took an immediate decision to actually went into a voluntary recall. And that was a big decision because indeed indeed you look at the patients first. Secondly, you then look at how do you kind of go into that recall. So we had to replace five million devices, which we did, and we completed. But that decision you can only take if you have the full information that actually allows you to take that step. So before when we went to the market, we had the evidence. And actually, I can also say now that when we did two more years of testing, what we have shown, and actually what is demonstrated, that no appreciable harm was done by using those kind of”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Of doing the right thing in quality. Then, of course, you make sure that you are really guided by the experts. So on patient safety and quality, the first thing that I did when I came into my role, A, I put a new patient safety and quality leader in my executive team at the executive table, experience with dealing with these kind of challenges, helping us to kind of get better at it, also dealing with some of those dilemmas, including working effectively through these kind of cases and through the recall. and then actually together with of course the executive team making sure that we take a holistic view on what we need to do when we address this so i think make sure you have the expertise it's validated and tested by facts it's made robust by an external perspective and then you you take decisions that you believe are the best in that point in time and then you move i think that for me is important in order”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Tells me we are kind of a company that serves the betterment of healthcare. So the ultimate perspective that you always need to have is carnivores, the impact on the customers that you serve, whether it's patient, whether it's nurses, doctors. And that means when you're in a healthcare space, you always kind of need to be careful and putting patient safety and quality as first priority in your decision making. That's also what I've put forward and that's very clear across the company as our guiding principle. But it's also known that Of course there's not always a black and white right. And in healthcare in particular, a doctor has to deal every day with his decisions where he needs to make trade-offs between the risk and the benefit because you don't have a complete session. So for me, it's always you make sure you have the best possible information, fact-based, validated by external internal, and then actually you move. And that holds true for decision to change operating model. That holds true for decision to”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“As my team is. And then I make sure also that I get pushback and make sure that from a board perspective, from even external people, you make sure that you stress test your own assumptions so that when you go, you are kind of clear that it's the right track. I also don't believe that there is always the right decision. And then actually it's important that you are very clear what the decision entails and how you are going to implement it. Because clarity is so important in organization, especially if an organization of size, that half of the importance of decision-making is how you communicate decision that you have been taking.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“So, first, I don't believe that I have the ultimate wisdom. And that's a very important starting position. So when I make a decision, I make sure A, I am well informed. And that information I get both from outside of Philip, so making sure that you understand the context that you operate very well. So I make sure that I get the latest information on technology trends where I talk myself a lot to customers, to governments, to peers in the industry. So to ensure that actually I understand the context and how it's moving and where it's moving. Secondly, I surround myself with a team that is diverse, that actually makes sure that I have a personal health leader, Singaporean, living in Asia, giving different perspectives to me. I have an experienced patient safety quality leader in the US coming out of that domain, giving me the insight. So I make sure that I get insights from a strong team because I know I can be only as”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“As a technology company, you need to be even more people centric, is my view. So I've been focusing very much on, on one hand, yes, we need to have the right operating model structure, simplify the processes, but actually I put the people back at the core of Philips. Whereas I said, actually, it's all about the people. We need to understand the people that we serve better, our patients, our consumers, and we need to have the best people actually to serve them. And then also a culture of impact with care, as I defined it, to actually make sure that how we work together all focused on delivering that kind of better care and more care.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“It's one of course insights that I had from personal experience. I do believe it could work better in a different way. I've also worked in other companies, right? So I've not only worked in Philip, so I've also experienced it in different ways. And that also helped me kind of build the belief. But moreover, it was also kind of how do you kind of look at the company and the culture to kind of make that work best. Because I think as much as changing a model, it's all about changing and having the people and culture focus. The things that actually make a model work. It's not the structure, it's not the process, it's the people.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“That's why, kind of, to really be specific to them, we organized. But still do it in a lean way and make sure that, of course, you also learn as a company. And that's where kind of we have also enabling functions like HR, finance, quality and patient safety, clinical that are at the lean structure kind of guiding the full company. But the real day-to-day you want to ensure that is as close as possible to the customer segment.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“It in the work process of a doctor or of a nurse. And that's different for the different disease areas, that's different for the different kind of parts of the organization of hospitals. So actually we reflect in part our customers. Because when we sell our monitors, we will talk to the chief nurse or the CIO of a healthcare institution. If we sell our imaging equipment, we will talk to the head of radiology and also the informatics department because it of course is kind of digitizing very fast. If we talk about interventional, we will talk to the cardiologist or the neurologist or the kind of interventional neurologist or cardiologist, right? So you cater to those specific audiences and then you say, okay, what do we need to do to serve them best? And they also have different kind of not only innovation needs, but also different supply chain needs, different fulfillment models, different business models.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Monitoring is a very different segment than imaging is a very different segment than interventional therapy or personal health. So that's why I said, okay, I strongly believe that actually we want to organize for delivering the best service and innovations to those segments by building the end-to-end core structure of a company, the processes and the divisional structure around that, so businesses in the lead. That has kind of been my prevailing design principle to kind of get the company into this shape. And if you look to healthcare, actually you see this is also a model which is practiced more because actually you see that people kind of cater to do the specific needs of those segments that you need to kind of be very close to innovate. And I give you an example. If you want to know how you need to deliver a next bedside monitor or next kind of software product, you need to be very deeply embedded.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“It's working for us. I think for me, you kind of design your operating model or your organization to serve your customers in the best possible way because that will make you successful. So when thinking about that and being an innovation company, I thought about how can you make sure that you deliver the most relevant innovations for the different segments that you serve.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“You're describing going from what sounds like a very complicated matrix model to a pretty classic divisional model, right? You're going to have PLs, you're going to have segments, you're going to let people run. There might be some overlapping functions and sales or marketing or whatever inside those divisions. That's a big change. It's also, I just would come back around to I talk to a lot of Silicon Valley CEOs on the show, and they're all in functional structures. Everything rolls up to them and they operate, Apple famously the most functionally organized company in the world. What are the benefits to you of being in that divisional structure? That is the big change. I'm not sure it's the same kind of structure that everyone else is in, but it seems like it's working for you.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“Help us make faster decisions in a more agile way. So got that input and then I said, okay, my way of getting there is changing this organization, going through a tough reorg. But at the end, you will get the benefit, which is actually you can work more effectively, yes, also more efficiently for the company, which is, of course, a great benefit as well to support margin improvement and better profitability. But actually it had really dual effect. And therefore, the engagement that actually went up was also a result of it because people see it working better. And of course there's better men to come. So we halfway the plan. We still have more to do. But there's clear evidence and also a voice of our employees that says we are on the right track. We actually see that in increased engagement as well as increased margin as well as growth that comes back and the execution on the plan that we are ahead of even in the roll reduction which was very tough and we did in a very short amount of time.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT
“An employee engagement score, so we have asked them okay, do you feel Phillips is strategically set up to win? Phillips actually allows you to work in a way that is kind of enabling you to do your job well. Phillips is taking care of patient safety and quality. So the typical engagement questions, do you like working in this company? Do you feel engaged motivated? And I asked three simple questions. One was, what do you want to double down on? Phillips, what do you think I should do? Secondly, what do you think I should significantly improve or act upon? And thirdly, what do I need to know what I don't know? Three questions. I got a lot of input. One of the clear inputs was please make clearer who's accountable, make sure we simplify the matrix.”
2024-09-16 · Decoder with Nilay Patel · How Philips CEO Roy Jakobs is turning the company around after major recall · IDENTIFIED FROM THE TRANSCRIPT