The Next Quarter Podcast - Episode 12 - Ian Coyne with Michelle Carnahan

From a 26-year career at Eli Lilly to leadership at Sanofi and scaling a consumer health startup, Michelle shares a unique perspective on how healthcare systems operate across the US and globally.

Now as founder of Arbiter, she is tackling one of the industry’s most persistent challenges: fragmentation and access.

The conversation spans global healthcare systems, the rise of GLP-1 therapies, and why the next wave of innovation must focus on delivery – not just discovery.

Highlights:

• Access is everything: Innovation only matters if it reaches patients
• The US system’s biggest issue is complexity, not just cost
• Fragmentation across stakeholders is the core structural problem
• AI-driven coordination could unlock meaningful system change
• GLP-1 therapies may be one of the most transformative advances in decades
• The future of healthcare lies in combining innovation with effective delivery.

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