New Business Models For The Emerging Consumer-Driven On-Demand Healthcare Economy
Feb 1, 2018
[...] As the C2B healthcare economy disrupts traditional business value propositions, healthcare organizations must develop new capabilities and operating models to compete successfully as consumers gain more power over their healthcare spending. Four core business models are likely to emerge over the next three to five years; organizations may blend these to create unique models that suit their specific strengths and markets.
Business Model Archetype 1: Become An On-Demand C2B Healthcare Platform Provider
Healthcare organizations could leverage their existing investments in digital technology assets and platforms to create a game-changing on-demand platform. The platform would connect producers - app and device creators and healthcare providers - to consumers in the new digital healthcare marketplace.
Rather than a single dominant platform emerging, like an Airbnb, it's more likely that a set of winning platforms will coexist and address specific domains, such as virtual care, decision support, consumer engagement and information aggregation and sharing. Platform providers who make it easy for solution providers to integrate with their platforms will have more to offer consumers, a definite advantage in the on-demand health economy.
Business Model Archetype 2: Insurance Powerhouse - Back To The Future
Health plans should consider returning to their pre-managed care origins to purse a classic insurance model of benefit design, risk management and underwriting. Some organizations could become a one-stop shop for every insurance need. These entities will serve consumers and businesses with bundled and unbundled offerings for life, property, health, auto, long-term care and other insurance needs. These diversified insurance players will have the economies of scale necessary to better manage profit and loss across multiple lines of business and to take creative approaches to health-related insurance, such as offering personalized policies targeted to very specific market segments.
Emerging Business Model Archetype 3: Integrated Delivery Model At Scale
As consumers select health services on demand, they essentially will create their own systems of care, rather than relying on a third party. The impact of these changes likely means integrated delivery systems (IDS) must focus on providing on-demand healthcare and do so on a large scale. These systems can point to the proven value of offering a vetted and curated set of cost-effective providers and coordinating care to deliver better cost and quality outcomes.
Emerging Business Model Archetype 4: Health, Wealth And Lifestyle Management
Cheaper, quicker and more convenient care delivery will turn healthcare into "life care." Artificial intelligence innovations will provide consumers with new tools for lifestyle management, personal health monitoring and related financial planning. Demand for disease prevention, stress reduction, optimized health and quality-of-life enhancements will grow. Healthcare organizations can tap their expertise to become trusted advisors in this space.
While strategizing how best to embrace the C2B on-demand healthcare economy, organizations can make these investments and begin transforming service and delivery systems to meet consumer demand. Those actions will help free up resources for new investments and provide experience that will help clarify which business model or blend of models is worth pursuing. A "watch and wait" approach often works in healthcare but the on-demand economy requires more aggressive, even experimental, intervention for a successful outcome.
Source: Health IT Outcomes (View full article)
Dan Corcoran | Permalink | Comments (0)