Thursday, May 23, 2013

Integrating Consumer Values into Corporate Policy

5/23/2013   By: Kameron Gifford, CPC

Healthcare reform has again taken center stage in America, but this time it is about more than just satisfying political agendas, improving quality and creating models that reduce costs. No, this time it extends beyond outcomes and even access; to the very core concepts of delivery and design.
Today’s movement will revolutionize the way we deliver care and transform the very definition of value. Our ability, as an industry, to innovate and adapt to align with consumer’s needs and expectations will determine future success or failure.  Advances in technology, new medications and accessible care will never change the current trends in healthcare spending alone. Ultimately, for healthcare to be effective it must be meaningful to each consumer.

What Do We Know About Consumers?
We know that engaged patients cost less and enjoy a better experience of care. We see this again with engaged providers; who spend less than their counterparts and are more satisfied with the care they provided. Studies on consumer behavior highlight the inherent connection between trust and action, while the endless amount of “big data” only confirms the differences in consumer’s needs, preferences, barriers, goals, outcomes and costs. Most importantly we know that educated consumers make better choices and that knowledge drives consumption.

3 Steps to Innovating Corporate Policy

1.      Re-Align your Agendas to those of your Consumers (value, needs, goals)

2.      Remove Barriers – Think outside the box (trust, privacy, comfort)

3.      Invest in Education for Consumers

Consumer Power

The entire healthcare industry is on the verge of disruption. Consider for a moment this impact on the financial industry. ATMS and online banking have significantly replaced the need for tellers. Consumers are now managing their own money and trading their own stocks for 7% of what we used to pay our brokers. This same technology now enables travelers to purchase airline tickets from their smart phone from anywhere, anytime and anyplace. Airlines have responded by innovating corporate policy to support consumer’s needs. Today, the same consumer who purchased their airline ticket online can now download their boarding pass and check in right from that same phone.

What is your company doing to support the next generation of healthcare consumers?     

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