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What will the health plan of tomorrow look like? We decided to crowdsource the experts to answer this question. Here's what health care, policy, and technology leaders had to say.
In general, we observe that industry transformations occur in three seven-year cycles. Health care organizations—and thus health plans—appear to be no different. We predict that the first cycle of transformation in health care will involve a widespread push for stronger standards around data interoperability and demand from consumers to not only access but own their health information. These changes will form the foundation for innovation. In the second cycle, nontraditional players will begin disrupting the insurance market with their data-driven, consumer-centric offerings. While the view of the final cycle is over the horizon still, we predict a radical transformation of business models across the industry.
As the industry moves through these cycles, the pace of disruption will likely only pick up. Health plans are running short on time to adapt as nontraditional players enter the market; consumers, employers, and government purchasers scrutinize costs; and health care providers assume more care delivery risk, while insurers and the government shed it. Thousands of innovative solutions that enable consumer experience have been introduced into the marketplace, some of which are being enabled by digital and consumer giants such as Amazon, Apple Inc., and Google.
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Looking ahead to the next several years, what will the health plan of tomorrow look like? The Deloitte Center for Health Solutions sought to find out by crowdsourcing 28 health care, policy, and technology experts. The experts described a future in which health plans will shift to a focus on well-being and care using multidimensional data. Products will balance traditional population-level risk with being hyperpersonal and easy-to-understand, based on consumer need. Moreover, health plans will have learned how to engage and influence consumers toward better health through a high-touch experience with digital devices. This report features some highlights of the research findings, described in detail in our article, The health plan of tomorrow: Disruption is picking up pace.
The experts converged on one overarching theme: Health plans will need to overhaul their current business models from managing enrollment and risk to focus on a framework that supports sustaining members’ well-being.
This vision of tomorrow’s health plan is just a stepping stone to the future of health. The crowd agreed that at the end of the three innovation cycles, market leaders’ focus will revolve around three fundamental roles that will be the value drivers of the transformed health ecosystem:
Health plans should begin to prepare for tomorrow by making strategic decisions now. Decisions that address investments in product development, technology, data governance, talent, and collaboration, and more importantly, creating an organizational culture that makes it easy for stakeholders to accept and implement this transformation.
As health plans draft their strategy for the future they should consider how to:
Read the full report, The health plan of tomorrow: Disruption is picking up pace.