The episode opens with a discussion of widespread virtualization (00:58), as the industry shifts focus from the rapid adoption precipitated by the COVID-19 crisis to operationalization and refinement of the customer experience, particularly as a generation of digital natives move into leadership positions and increasingly utilize healthcare services (03:06). At (06:30) the conversation shifts to business model and partnership innovation trends, as new and existing players look to unlock new opportunities across the value chain and become more agile in how they bring solutions to the marketplace (09:30). Organizations are diversifying their portfolios – pursuing multiple partnerships, working across sectors, and entering new spaces. Accompanying this is an innovation in care models (12:50), as the industry starts to reimagine healthcare as an interconnected ecosystem in response to increasing cost pressures and consumer demands. The healthcare hub model, whether pharmacy, health system, or IDN-driven, could be a key factor in success and sustainability in this new environment (16:05). Driving both the business and care model innovation trends is the industry shift to value as the differentiator (18:03) – the pandemic’s exposure of the risks of the fee-for-service model, the success of early CMS programs, and industry recognition that the system needs to change is likely to accelerate the operationalization and expansion (23:41) of value-based models. Beyond reimbursement, across the industry there is an acknowledgement of whole person care (24:40) – a recognition of the importance of social determinants of health and changing consumer preferences around health and wellness. Technology and data sharing are enabling the personalization of health (28:16) that today’s consumers are starting to demand when it comes to their care experience.
Vynamic, an Inizio Advisory company, is a leading management consulting partner to global health organizations across Life Sciences, Health Services, and Health Technology. Founded and headquartered in Philadelphia, Vynamic has offices in Boston, Durham NC, and London. Our purpose is simple: We believe there is a better way. We are passionate about shaping the future of health, and for more than 20 years we’ve helped clients transform by connecting strategy to action.
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