4 Ways to Thrive in Today’s Value-Based Healthcare Landscape

Tuesday, April 26, 2016

Source: Medical Design Technology

The American healthcare system continues to evolve at a blinding pace as new care delivery and payment models change the landscape. The uncertainty of this disruptive shift is reverberating across the healthcare value chain. For healthcare IT companies, the challenge is clear: adopt new business models or risk being left behind in a marketplace driving rapidly toward an evolving future.

Incremental improvements and “feature enhancements” are no longer enough. Healthcare IT companies and product manufacturers must develop new business models and new ways of thinking about how they will deliver value in this new world. They must disrupt their own businesses before someone else does it for them (or to them). That means delivering solutions to meet the expectations of users shaped by the consumerization of technology. 

How will companies meet that challenge in order to remain competitive? We see four game-changing drivers companies need to factor into their strategic planning to set themselves up for success in today’s value-based healthcare marketplace. Addressing these drivers will help guide bold companies to disrupt their established models and redefine their value for today’s marketplace.

1. Interoperability

2. Patient Engagement

3. Data Analytics

4. Cybersecurity

Focusing on these four key “drivers”—interoperability, patient engagement, data analytics, and cybersecurity—will help inspire innovations that reshape business models for the new era. Adopting a systems mindset and enlisting the right expertise at the earliest stages of product conception and development are crucial for developing the next-generation solutions that deliver breakthrough capabilities for healthcare providers—and competitive advantage for the companies that make them.

Change is happening at an unprecedented pace with more stakeholders than ever before engaged. But it is the right change at the right velocity? Innovators adopting these drivers are creating the solutions that will define healthcare in the years ahead. Only one question remains: Will your company be the disrupter or the disrupted?

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