Ibmwhcc2012 presentation

This PowerPoint from Holli Haswell discusses an emerging issuecreated by the changing face of  health care delivery and health care reform. A Huff Post technology article  points out that new influences such as social media, the mobile revolution and higher expectations from consumers are forcing healthcare organizations to rethink the way they deal with patients.

Enter the empowered health consumer.

50 million consumers will enter the individual and exchange insurance market by 2017, and a 40 percent decline in group health care coverage is expected by 2017.  Still, annual private healthcare spending will continuie to rise $430 billion by 2015.

Consumers are becoming more demanding and better informed about health care now that they have unprecedented access to information about medicine and health care. Combined with the transition under way in the healthcare industry, organizations are rethinking their business models to embrace the need for healthcare to be more consumer focused.

The challenge that payers and providers face is to understand the individual and develop a more personalized view of the patient both to better compete in the changing healthcare market and to utilize insights to enhance wellness.

Emerging Trends and Solutions

Meeting Emerging Business Trends: Payers and providers are now transforming themselves and adopting new business and delivery models. Supported by the foundational capabilities of business structure modernization and analytics, they need to align around three major emerging business trends:

  • The evolution of care delivery.
  • Convergence of payer and provider.
  • Movement to the individual.
The move from acute care to care-at-home is an example of a development that is anticipated to drive to better client outcomes and engagement, and lower costs. Home and residential care comprise a $45 billion and growing industry.
Empowered consumers are more demanding, connected, and require more personalization.  More than half of connected consumers say that social media interactions influence their spending decisions. And, as consumer choices proliferate, there will be a greater need to personalize the experience and create a better patient and customer experience.
Leveraging New Technologies: Since it is becoming more difficult to win consumer trust in general today, and health care consumers are particularly less willing to share their personal information, in order to establish the trust needed to provide more personalized offerings, services and experience, the industry will need to establish a more personal relationship with the consumer by embracing new technologies:
  • The mobile revolution.
  • Hyper-digitalization.
  • The social media
  • Analytics.

Engaging Consumers: To provide value-added healthcare, it is more important than ever to better understand, address, and influence consumer behavior. To do so, payers and providers will need to establish more solid relationships based on real conversations at all touch points.  Consumers engage via a pyramid-like hierarchy of needs:

  • Lifestyle – Does the service align with my beliefs and values?
  • Relationship – Does the company value my business?
  • Service – How easy does the company make it to do business?
  • Transaction -Does the co. provide what I need for the right price?

The discussion needs to encompass all of these aspects to provide the customer a value-added experience.

Strategizing for Optimal Results: To accomplish the goal of better engaging customers in a more customer centric and cost efficient way, providers and payers will need to make fundamental decisions about:

  • Which segments you can best influence.
  • The optimal mix of digital channels that best reach your customers.
  • Which processes, technologies and interactions deliver more customer engagement.
  • Which provide the best results – medical homes, ACOs (accountable care organizations) or retail health.

Understanding the individual and providing a more personalized view of the patient will help organizations compete in a new era of healthcare transformation.

Snap! principle of customer-centric health care strategies:

Better information through customer engagement and analytics can enable better care and sustainability.