The health plan of tomorrow has been saved
The health plan of tomorrow
Business model transformation is the only way to adapt to disruption
In general, we observe that industry transformations occur in three seven-year cycles. Healthcare organisations and thus health plans appear to be no different.
We predict that the first cycle of transformation in health care will involve a wide spread 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, non-traditional 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 non-traditional players enter the market; consumers, employers, and government purchasers scrutinise 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.
This report features some highlights of the findings from research conducted by The Deloitte Centre for Health Solutions. Key take outs include the identification of 3 fundamental roles that will be the value drivers of the transformed health ecosystem:
- Well-being & care delivery
- Care enablement
- Data and platform