The Evolving Healthcare Consumer is Driving New Investment in the Industry
Today’s blog continues our discussion from last week on the changing expectations of healthcare consumers. A report published last month by the management consulting firm Oliver Wyman delves into the ongoing “volume-to-value” revolution and how technology is upending the status quo.
The report discusses how factors such as the increasing deployment of retail clinics in big-box stores, the use of “smart care” teams, and even personal fitness devices are contributing to the development of “a new health market where demand trumps supply.”
According to the authors of the report, this ongoing transformation in the healthcare industry provides great opportunities, showing how “traditional players and new entrants can do more than participate in this value shift, but lead it through innovative business models and partnerships.”
Inflows of venture capital are accelerating in the healthcare industry to take advantage of this “Health Market 2.0.” A market of at least one trillion dollars is in play to address key issues in the industry, including: increasing complexity, persistent lack of transparency, slow-moving processes, and the overall inconveniences that are motivating healthcare consumers to change their behaviors.
For more information and to download the report, visit: http://www.oliverwyman.com/insights/publications/2014/oct/the-patient-to-consumer-revolution.html#.VGPnxvnF9Zs