Healthcare’s new entrants: Who will be the industry’s Amazon.com?
As the health sector’s center of gravity shifts toward customers, savvy new players are moving fast to capitalize on the change. These new entrants are poised to shake up the industry, drawing billions of dollars in revenue from traditional healthcare organizations while building lucrative new markets in the burgeoning New Health Economy. HRI examined these new players, and measured the impact they are having on the industry.
New entrants are creating options consumers want, threatening billions of dollars in hospital and physician revenue. HRI asked consumers how likely they would be to choose various care alternatives, if they cost less than the traditional choice. Percent of respondents answering “Very likely” and “Somewhat likely” to consider these options.
What this means for your business
While opportunities abound, healthcare remains a complex and highly-regulated ecosystem. One of the biggest barriers to change, its third-party payment system, is unlike that of any other industry. Success will require an understanding of market needs, consumer desires, regulatory requirements and reimbursement complexities.
- Focus on the business model. Base business models on generating value in the New Health Economy.
- Not all innovation is created equal. Aim for disruptive leaps as customers will reward truly transformative services and products.
- Turn the tables. Consider a consumer-to-business strategy, using consumer data to refine business models, enhance customer experience and earn greater loyalty.
How PwC can help
PwC’s Health services works with you to build a select primary care team and more. Discover other ways we’ll help you succeed in the New Health Economy.
- Strategy and transformation
- Manage costs
- Healthcare technology and data
- Digital Transformation
- Maintain financial trust and transparency
- Cybersecurity and privacy
- Create great customer experience
- Manage population health
- Navigate risk and regulatory complexity
- Optimize deals
- Grow business, increase revenue
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