3 Emerging Business Strategy Trends to Know in 2017

Posted by Alice Greene on 3/17/17 3:24 PM, Last updated 05/12/2017
Alice Greene

It touches all of our lives. It's the source of deep anxiety for many of us, and is currently grabbing all the headlines. It’s healthcare.

A better healthcare experience is relevant to all of us. And the good news is, based on three big business strategy trends we’ve identified for 2017, the potential for a better experience is there, and the healthcare industry is working on it.BusinessStrategyTrends-DL-300

There is probably no industry where delivering a better customer experience through personalized information holds more opportunity to do good than healthcare. Or where doing so has a such long way to go. That data-centric opportunity was the central focus of the recent Healthcare Information and Management Systems Society (HIMSS) conference in Orlando, attended by some 40,000 industry professionals.

Attendees found a raft of big-data analytics providers, well-known consumer brands like Verizon, offering new suites of products to improve “customer experience,” and 35+ sessions on “Connected Health” alone. Emerging innovations, like artificial intelligence systems (AIS), were hot topics and signify the advance of consolidated health systems to better systematize the patient experience and advance population health.

The dire need is well-understood. A survey of 500 patients and 400 physicians released at the conference helped to reinforce this with its findings related to chronic disease:

  • 91% of patients say they need help managing their chronic disease. 
  • 43% are only somewhat confident, at best, they know their current health metrics.
  • 66% say they do not get valuable personalized information from their provider.
  • Only 12% say their provider is doing a good job of delivering information tailored to their specific needs and condition.
  • 60% of patients feel they spend more time discussing their symptoms with healthcare providers than ways to manage their condition.

There's an especially compelling opportunity for a happier customer among Millennials, who were found to be more anxious or frustrated than others in managing their condition:

  • 44% (vs. 25% of older segments) feel their provider is reactive about chronic disease management.
  • 56% (vs. 36%) feel uncertain of what to do after being discharged.
  • 58% of patients believe two-way, at-home monitoring devices are very useful.

Those 3 big trends we mentioned above are tracking closely with the developments on display at HIMSS:

  1. DATA-DO-OR-DIE anticipates a surge in the improved use of customer data, especially in healthcare.
  2. CX-MANDATE dives in to optimizing the most important touchpoints with consumers (B2B lags here, but is making interesting moves to catch up).
  3. THE OLD BALL & CHANNEL looks further into the future at the strategic importance and impact of finding new ways for companies (including healthcare providers and B2B) to reach, serve, and interact with their end consumers, in collaboration with channel partners.

Read our free report:  3 TOP BUSINESS STRATEGY TRENDS   FOR 2017  DOWNLOAD NOW

 

 

image: Marina Putilova 

Topics: Trends, Customer Experience/Customer Journey

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