Disruptive Companies and Technologies. Founders and Venture Capitalists. Empowered Consumers. New Value for Money Payer Contracting and Policies. These are just some of the key themes that are expected to shape the work and landscape of our health systems.
Healthy Returns from new technologies drove bold debates in New York City at the CNBC Investors Form, see: https://www.cnbc.com/healthy-returns/ Over 3000 health sector leaders and innovators also recently gathered in Las Vegas for three days to explore a landscape of change in the US health industry; and to exchange insights into how best to develop a roadmap into this uncharted land of challenge and opportunity. While the many panels, presentations, and product introductions where focused on the coming decade, the ideas that surfaced in these unusual events can help stimulate your strategic thinking, planning, and investments for the next 3-5 years.
How might your leadership team, board, and physician leaders explore alternate futures for your several service initiatives and investments?
What are the forces of change that need to be understood as you form and explore alternate scenarios for your future?
Five observations surfaced in these recent exchange sessions among clinicians, executives, financiers, and venture capitalists. As you review these themes, consider how you might weave them into three scenarios for your future (A Best Case, Worst Case, and Middle Ground). Once you have built the scenarios, invite your leadership and frontline staff to explore the implications of each scenario for your program development, strategic alliances, staffing and recruitment, price transparency, unit and care bundled costs, and capital investments:
- Theme 1: Consumer Empowerment and Engagement: As over 75% of our nation’s spending is for chronic diseases that are behavior related, consumers need to step-up to become more accountable for healthier lifestyles to avoid, delay or minimize the burden of disease. Providers also need to step-out to invest in new digital tools and decision support systems, customized to each person, that are becoming more accurate, effective, and affordable.
- Theme 2: Artificial Intelligence (AI) and Wearables: Advances in diagnostic sensors linked to customized DNA profiles and wearable alerts and drug dispensing devices will help consumers become less dependent on expensive providers and facilities as care shifts from hospital to homes. AI linked to tele-medicine tools will also enable providers to accelerate their diagnoses and interventions with improved clinical outcomes and enhanced consumer experience scores.
- Theme 3: Data Driven Care Plans: The era of Big Data is enabling health systems and health plans to harness predictive analytics to anticipate risk by households and population segments, and then to suggest interventions known to be optimally cost effective for such risks.
- Theme 4: Designer Targeted Pharmaceuticals: Customized prescriptions unique for each person’s demographic, psychographic and gene map will extend the quantity and quality of life for all ages, but especially seniors.
- Theme 5: Micro Hospitals: The explosion of ambulatory care, advances in minimally invasive surgeries, and computer empowered diagnostic technologies will drive cost-effective care into new health facilities designed with fewer beds, expanded computer assisted records, and interventions managed by “Health Navigators” that will flourish in “Micro-Hospitals” that more conveniently located near population centers.