While dealing with the effects of a global pandemic, the 2021 healthcare market will be shaped by six powerful trends that change how healthcare is envisioned, delivered, and valued.
TREND #1: WHOLE PERSON CARE EXPANDS BEYOND “HEALTHCARE” INTO HEALTH + CARE
Enabled by technology and behavioral science, understanding social, economic, environmental, and clinical determinants of health in an effort to prolong life and promote health. Leads to a focus on the “whole person” with new models of engagement and education that empowers health and wellness beyond traditional healthcare norms.
TREND #2: VALUE IS THE DIFFERENTIATOR
The healthcare industry will continue to transition to value-based care. In a value-based market, reimbursement will be dependent on measuring, monitoring, and asserting products and practices through outcomes, shared risk, and demonstrated therapeutic superiority.
TREND #3: ONE SIZE DOESN’T FIT ALL – THE PERSONALIZATION OF HEALTH
Advancement in technologies and scientific platforms along with rising consumer expectations are enabling personalized approaches to care. Consumers are taking advantage of personalized healthcare options and concierge service models accommodating the care they want at the time and location that’s convenient, such as the expansion of telehealth services.
TREND #4: BUSINESS MODEL & PARTNERSHIP INNOVATION
Boundaries between different healthcare sectors are blurring. An incredibly fragmented system leads to opportunities to move into other parts of the health care value chain to “own” a greater proportion of the delivery channel, acquire data, move closer to the consumer, and alter traditional care delivery models.
TREND #5: CARE MODEL INNOVATION & ECOSYSTEMS
New strategies, capabilities, and technologies are shifting health systems’ focus from providing episodic, acute care to keeping people healthy. Driven by cost pressures, economics, technology advancements, and consumer expectations, healthcare systems are innovating on care models to achieve more connected care ecosystems.
TREND #6: VIRTUALIZATION IS THE NEW NOW
It’s everywhere. In this data-driven ecosystem, evidence-based indicators are becoming increasingly diverse, more measurable, and more easily accessible, enabling technologies that “virtualize” channels within the care model (virtual visits, virtual details, virtual R&D).
Healthcare is an essential, dynamic, and opportunity-rich industry. As we look forward to 2021, we can expect the demand for innovation to drive simultaneous improvement in health outcomes, connectivity, quality, and transparency.