No Match Found
Health services executives face the complex mission of transforming the patient and member experience while economic forces converge to make 2023 a year of reckoning and restructuring. Many are operating with aging technology, outmoded business models and frayed infrastructure. The new year requires more than a recession-ready strategy; it requires the courage to change.
Health plans and health systems need to confront affordability head on, seize every opportunity from foundational technology investments, to regulatory shifts and ecosystem models, deals or crises to set a path towards much lower long term costs, health equity and the capabilities that support the shift to value based care and pressure on reimbursement.
Payers and providers still have the opportunity to move faster towards digital business models, integrating functions, sites of service and care, and stakeholder experience more seamlessly and digitally. Underlying this shift is the need for better insights, analytics, cloud architecture and modern foundational administrative technology.
The quest to attract and retain members or patients is pushing payers and providers to invest in capabilities that engage earlier, sustain that engagement, ensure accessibility to services and ultimately improve patient care l- highlighting the need for improved marketing, relationship and engagement management.
As health service organizations continue to get larger, more regulated and more consumer facing, they need to up their game by anticipating, understanding and controlling their risks in compliance, finance, operations, and technology.
Healthcare executives will need to face workforce shortages with a focus on attracting and retaining talent into a more agile and tech-enabled workplace.
Deal value will likely take the shape of companies focused on primary care, home health, retail/ patient technology, data and digital platforms and divestiture of non-core and/or non-strategic assets while large players continue to seek consolidation plays.
The health services industry continues to evolve quickly with private equity, new business models, consolidation and consumer preferences all impacting legacy payers and providers. These organizations need to aggressively address all growth levers from those that give them the right to stay in the game, position to win in the current world.
Health Services companies' operations and operating models often prevent them from achieving true business transformation.