Technology continues to drive Healthcare markets. Everything from transportation of patients, down to Electronic Medical Records is driven by technology initiatives. According to Keith Fengler, Jaime Estupiñán, and Kenny
Chan of Strategy&, part of the PwC network “
In the US$3 trillion United States healthcare industry, choice has swung decisively toward consumers in recent years. Empowered by technology, encouraged by employers, and incentivized by new regulations and products, more and more people are playing an active role in managing their own wellness, medication choices, and treatment options.
In response, incumbents and startups in the insurance industry are investing feverishly to roll out products and services that will appeal to consumers. Taking a cue from the technology and communications industries, many are pursuing disruptive technologies that promise to revolutionize the healthcare experience — whether digestive sensors or systems that allow doctors to examine and treat patients via video.
But here’s the thing: Consumers aren’t ready for a revolution. They have far simpler demands and desires, such as an easier way to schedule doctor visits or the ability to get follow-up notifications on a mobile phone. As a result, insurers that want to make the most of their investments in new technologies should focus their resources on developing simple digital products and services that align with their identities, strategic goals, and existing capabilities.”
References: Forbes (2016) What Consumers Most Want From Health Insurers’ Technology