United States Healthcare Consumerism Growth Opportunities

United States Healthcare Consumerism Growth Opportunities

The Quantified Self Consumer Behavior and Innovative Business Models Create Future Growth Potential

RELEASE DATE
07-Jul-2021
REGION
North America
Research Code: PBD4-01-00-00-00
SKU: HC03431-NA-MT_25564
$2,450.00
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Description

This research service examines the future of healthcare consumerism in the United States in terms of changing patient demographics and demands, technological advancements, digital health, shift in consumer behavior to non-traditional healthcare settings, and innovative healthcare business models.

Healthcare consumerism is on the rise as individuals become more engaged in making health-related decisions and assert control over their medical and wellness care. This trend is likely to accelerate post-COVID-19 as consumers increasingly focus on their health. The future of the healthcare ecosystem lies in consumer-centric capabilities and services, including home and self-care, social care, daily life activities, and financing support.

The COVID-19 pandemic accelerated the shift in consumer behavior to non-traditional care delivery models, leading to innovation in healthcare business models such as on-demand, point-of-care, and home health services. This shift results in strong inroads for non-traditional participants in healthcare. The four big technology companies—Alphabet, Inc., Apple, Inc., Microsoft Corporation, and Amazon.com, Inc.—are expected to continue disrupting the healthcare industry with their focus on digital health and consumer-facing platforms.

Consumer expectations for quick, convenient, transparent, connected, and responsive healthcare services are redefining how consumers engage with their healthcare providers at each stage of the consumer journey. Younger consumers, no longer satisfied with the healthcare status quo, are likely to choose healthcare providers that offer digital capabilities, such as electronic prescription refills and access to online test results through mobile applications. Many consumers across different age groups are also more willing to try non-traditional services.

The pandemic has increased the adoption of telehealth, digital/mobile applications, and direct-to-consumer digital platforms. Healthcare consumers, empowered by digital technology, now take charge of their health more and expect on-demand anytime, anywhere services. Healthcare consumerism forces traditional healthcare participants to develop new care models to compete successfully in the consumer-to-business healthcare marketplace.

Healthcare participants are expected to prioritize investments in alternative sites of care for health systems to retain their customers. In addition, chronic illnesses such as heart disease, diabetes, and mental health conditions have increased because of pandemic-related care deferment. The chronic illness management market can potentially unlock new growth opportunities for technology, retail, and telecommunications companies because these diseases require long-term management.

Author: Dr. Rishi Pathak

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Healthcare Consumerism Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Market Overview

Scope of Analysis

Top Trends and Factors Driving Healthcare Consumerism

Key Highlights of Healthcare Consumerism

Defining Future of Healthcare Consumerism

Customer Voice and Consumer Trends

A Tale of Two Consumers

Consumer-centric Metrics

Consumer-centric Healthcare Ecosystem

Quantified Self Consumer Behavior

Healthcare Consumer Provider Marketplace

Non-traditional Care Settings

New Age of Consumer Demand

The Four Big Tech Companies—SWOT Analysis

Big Tech Companies in Healthcare Consumerism—Key Platforms, Solutions, and Partnerships

Big Retail Companies in Healthcare Consumerism—Key Platforms, Solutions, and Partnerships

Big Telecom Companies in Healthcare Consumerism—Key Platforms, Solutions, and Partnerships

Consumer-Facing Solution—Amazon Alexa Device

Consumer-Facing Solution—Microsoft AI Bot for COVID-19 Screening

Consumer-Facing Solution—Walmart Telehealth Initiatives

Companies to Watch

Price Transparency—Overview and Implications

Price Transparency—Criticality and CMS Regulatory Norms

Quantifying Healthcare Consumerism—Overview

Quantifying Healthcare Consumerism—Future Implications

Six Consumer Segments with Differing Needs

Healthcare Consumerism—Personalization

Healthcare Consumerism—Access

Healthcare Consumerism—Innovation

Healthcare Consumerism—Incentives

The Role of COVID-19 in Accelerating Healthcare Consumerism—Overview

Growth of Digital Health Technologies

Top Digital Health Technologies—Online Scheduling and Patient Portal

Reasons to Use Digital Health Technologies

Rising Telehealth Usage

Healthcare Innovative Business Models—Six Big Themes

Emerging Business Models—Heat Map

On-demand Healthcare Platforms

On-demand Healthcare Platforms (continued)

On-demand Healthcare Platforms—Intelligent AI and API Adoption

On-demand Healthcare Platforms—Challenges

Growth of D2C Models

Healthcare Consumerism—Best Practices

Growth Drivers for Healthcare Consumerism

Growth Drivers for Healthcare Consumerism (continued)

Growth Drivers for Healthcare Consumerism (continued)

Growth Restraints for Healthcare Consumerism

Growth Restraints for Healthcare Consumerism (continued)

Top Six Customer Experience Trends

Growth Opportunity 1: Analyzing SDOH Data to Improve Patient Outcomes and Empower Consumers

Growth Opportunity 1: Analyzing SDOH Data to Improve Patient Outcomes and Empower Consumers (continued)

Growth Opportunity 1: Analyzing SDOH Data to Improve Patient Outcomes and Empower Consumers (continued)

Growth Opportunity 2: Creating a Patient-centric Healthcare Payment Experience to Meet Consumer Demand

Growth Opportunity 2: Creating a Patient-centric Healthcare Payment Experience to Meet Consumer Demand (continued)

Growth Opportunity 3: Developing On-demand Healthcare Platforms for Anytime, Anywhere Health Services

Growth Opportunity 3: Developing On-demand Healthcare Platforms for Anytime, Anywhere Health Services (continued)

Growth Opportunity 4: Improving the ROI of Care Management Programs

Growth Opportunity 4: Improving the ROI of Care Management Programs (continued)

Growth Opportunity 5: Expanding Within the Market Segment and Adjacent Segments for New Revenue Pools

Growth Opportunity 5: Expanding Within the Market Segment and Adjacent Segments for New Revenue Pools (continued)

Growth Opportunity 6: Selecting High-Growth Segments to Drive Growth Disproportionally

Growth Opportunity 6: Selecting High-Growth Segments to Drive Growth Disproportionally (continued)

List of Exhibits

List of Exhibits (continued)

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Related Research
This research service examines the future of healthcare consumerism in the United States in terms of changing patient demographics and demands, technological advancements, digital health, shift in consumer behavior to non-traditional healthcare settings, and innovative healthcare business models. Healthcare consumerism is on the rise as individuals become more engaged in making health-related decisions and assert control over their medical and wellness care. This trend is likely to accelerate post-COVID-19 as consumers increasingly focus on their health. The future of the healthcare ecosystem lies in consumer-centric capabilities and services, including home and self-care, social care, daily life activities, and financing support. The COVID-19 pandemic accelerated the shift in consumer behavior to non-traditional care delivery models, leading to innovation in healthcare business models such as on-demand, point-of-care, and home health services. This shift results in strong inroads for non-traditional participants in healthcare. The four big technology companies—Alphabet, Inc., Apple, Inc., Microsoft Corporation, and Amazon.com, Inc.—are expected to continue disrupting the healthcare industry with their focus on digital health and consumer-facing platforms. Consumer expectations for quick, convenient, transparent, connected, and responsive healthcare services are redefining how consumers engage with their healthcare providers at each stage of the consumer journey. Younger consumers, no longer satisfied with the healthcare status quo, are likely to choose healthcare providers that offer digital capabilities, such as electronic prescription refills and access to online test results through mobile applications. Many consumers across different age groups are also more willing to try non-traditional services. The pandemic has increased the adoption of telehealth, digital/mobile applications, and direct-to-consumer digital platforms. Healthcare consumers, empowered by digital technology, now take charge of their health more and expect on-demand anytime, anywhere services. Healthcare consumerism forces traditional healthcare participants to develop new care models to compete successfully in the consumer-to-business healthcare marketplace. Healthcare participants are expected to prioritize investments in alternative sites of care for health systems to retain their customers. In addition, chronic illnesses such as heart disease, diabetes, and mental health conditions have increased because of pandemic-related care deferment. The chronic illness management market can potentially unlock new growth opportunities for technology, retail, and telecommunications companies because these diseases require long-term management. Author: Dr. Rishi Pathak
More Information
No Index No
Podcast No
Author Dr. Rishi Pathak
Industries Healthcare
WIP Number PBD4-01-00-00-00
Is Prebook No
GPS Codes 9564-B1,9600-B1,9612-B1