Thursday, June 19. 2008From Global Trends & Opportunities to Engaging the Consumer: The times they are a changin'!Trackbacks
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Rick,
I could not bear to quietly “lurk” in the shadows, so I thought I’d offer a comment on your points on consumerism’s role in transforming the industry. It’s clear that consumerism is changing the rules of the game for so many industries, and the players that embrace the changes as an opportunity will likely be the players that matter in the end. When I think about industries that have been transformed by the rise of consumerism, it usually has gone hand-in-hand with network connectivity as an enabler and with the pace of change accelerating as bandwidth and processing capacity has become cheaper. Consider the music industry and the rise of illegal file-swapping, which led to the current model for legally distributing songs on line (such as iTunes). In terms of travel, booking flights and hotel rooms on line is no longer the exception – it’s the norm (what DID we do before Travelocity and Expedia?). Healthcare is highly regulated and the complexity of the relationship among the stakeholders – the payers, employer groups, member/patients, providers, regulators, and shareholders - will affect the way that consumerism will change the rules of the game. But one thing is fairly clear – that complexity won’t stop consumerism from changing the industry. When trying to crack the code for how to turn consumerism into an opportunity for healthcare – the best starting point for analysis is the member/patient. Of course, when there are millions of member/patients, that’s where analytics can provide the means for finding the “path through the woods.” But in addition to getting value from the quantitative aspects of the claims and demographic data, I think a winning formula would include qualitative considerations. In other words, taking an objective look at the quality of the relationship that the member/patient has with both payers and providers can point to where the changes may be quickest and most profound. And addressing the consumer’s needs and wants is what consumerism is all about. What do you see will be the degree to which government will or should be involved in nurturing consumerism in healthcare? JB |
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