Convergence in the Future of Health™

Convergence in Health Care

The transformation of the health care industry is well underway. Players old and new are reassembling as they strive to meet the evolving demands of health care consumers. This convergence of forces will dramatically change the face of competition and lead to an evolution in the way we think of health care.

To succeed amid such transformation, emerging and existing organizations will need to embrace new ways of working, delivering health care, and engaging health care consumers—because in the Future of Health, consumers are in the driver’s seat.

Riding the waves of health care transformation

In health care, change is coming in distinct waves that the industry shouldn’t ignore. Identifying, observing, and, more importantly, learning from what these waves represent will help shape the future winners of the industry.

Ready for reassembly?

As mass fragmentation is replaced by a reassembly of forces, industry incumbents will need to learn to cooperate—and possibly merge with or acquire—industry disrupters. Otherwise, they risk getting swept away in the currents of this new era. This could be a pivotal moment for the industry in which old standards are replaced with new models for how health care is delivered.

As players converge, opportunities unfold

Make no mistake: Consumers are the ones driving change in the health care industry. The ability to serve patients more effectively and provide the care they want—where and how they want it—will affect how health care industry players make money.

Incumbents and new health care ecosystem players should focus on where they have competitive advantages and plan to reassemble ecosystems that let consumers navigate on their own to create personalized health journeys.

Incumbents

Current health care industry players should decide how to effectively position themselves in the reassembly moment. This could resemble the reshaping of whole slices of portfolios to better align to profit pools, leveraging data and partners that may be more effectively positioned to satisfy consumer demands.

Startups

New entrants to the health care ecosystem should recognize that while this fragmentation moment can be chaotic, it could also be their opportunity to establish themselves, influence emerging industry standards, and potentially accelerate their growth in new ways.

Non-native players

Those coming from outside the health care industry should continue to test the waters, in particular identifying adjacent growth opportunities that tie to core competencies. But the opportunity to commit more fully to immersing themselves in the industry could appear sooner than they expect, and they should prepare for greater commitment to the space. We envision a strong opportunity for these players to help shape the health platforms of the future.

The health care customer is always right

More broadly, convergence can help pivot the industry toward the consumer. While the patient is the ultimate intended beneficiary of today’s health system, the system is not organized with the consumer in mind. Placing the consumer at the center can improve the potential for greater value creation and rightsizing supply with demand.

The Deloitte 2022 Consumer & Physician Survey showed that patients expect to be treated like customers:

• The 90% want digital engagement and navigation options
• The 88% favor price transparency
• The 81% prefer to attempt self-service before calling

Navigate the evolution in health care

If you’d like to discuss any of the insights on this page or learn more about how your company can better elevate its health care transformation, let’s set up a conversation.