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Top 5 health care industry issues and trends going into 2016

By Regence | September 17, 2015

Innovative new technologies aren’t the only thing effecting the health care industry. With the passing of the Affordable Care Act the industry has been flooded with an influx of consumers and is stretching in order to adapt to these

Recently, Don Antonucci, President of Regence BlueShield of Washington, wrote an

Below is the full article originally published in Employee Benefits Magazine:

You only need to skim the news to know there are immense changes underway in our country’s health care system. This has been spurred on not only by technology, but also the new health care economy due the influx of consumers and the passing of the Affordable Care Act. While the $3.8 trillion U.S. health care industry stretches to adapt to these changes, there are unquestionably issues that our industry must confront.

For 2015, the Health Research Institute conducted its annual survey of 1,000 U.S. consumers and conducted interviews with health care industry leaders in order to identify the top industry issues and trends.

According to the findings here are the top 5 that will impact employers, insurers, and consumers:

You only need to skim the news to know there are immense changes underway in our country’s health care system. This has been spurred on not only by technology, but also the new health care economy due the influx of consumers and the passing of the Affordable Care Act. While the $3.8 trillion U.S. health care industry stretches to adapt to these changes, there are unquestionably issues that our industry must confront.

For 2015, the Health Research Institute conducted its annual survey of 1,000 U.S. consumers and conducted interviews with health care industry leaders in order to identify the top industry issues and trends.

According to the findings here are the top 5 that will impact employers, insurers, and consumers:

1. Consumers are concerned about the safety of their personal information.
We’ve all see the headlines. Data breaches are consistently impacting all industries. HRI denotes that 68% of the survey respondents are worried about the security of their data stored in smartphone health apps and 76% said they were concerned about the overall security of their medical data.

Response: Concerns over data breaches are very real and can happen in any industry, health care included. Personal health care data in the wrong hands can be damaging and it’s recommend that health care ecosystem – from hospitals, to solution and health care providers – each take equal responsibility in safeguarding patient information. Working alongside third-party experts to closely monitor systems for any signs of malicious activity will help protect the safety and privacy of consumer’s information.

2. Consumers and regulators are demanding greater transparency from insurers, providers, and pharmaceutical or life sciences companies.
HRI argues that the health care industry must prepare for the growing demand for transparency not only from consumers, but regulators as well.

Response: I frequently speak to business and industry leaders about the importance of transparency in the health care system and how it directly impacts cost and quality while helping patients make good choices on how they spend their health care dollar. Transparency not only empowers the consumer to make educated decisions when based on their benefit design, but also how it can support the industry as a whole in our effort to contain costs, increase quality, and provide a better overall customer experience.

3. Consumers are ready for non-physician caregivers to do more.

According to the survey, 75% of the participants told HRI that they were open to clinical, physician, or health care “extenders.” This is a term used for a health care provider who is not a physician, but able to perform medical activities typically completed by a physician, such as nurse practitioners and physician assistants.

Response: This is also a key component of achieving cost containment across the system. Consumers are asking their providers and insurers to provide more convenient, less costly options – especially those managing a chronic condition. Consumers now have the choice to receive treatment outside a traditional hospital setting and enjoy the convenience and quality a site of care facility can offer. Some patients may even be able to receive their medication or care in the comfort of their homes – all at a lower cost.

4. Physicians are embracing DIY health care even faster than the consumer.
While only one-fifth of surveyed consumers stated that they would use an at-home urinalysis device, almost half of the physicians questioned said that they would use the data from this test to prescribe medication or to better assess whether the patient should be seen or not.

Response: However, according recent data, it’s predicted that globally the number of consumers using telehealth services will increase from less than 350,000 in 2013 to roughly seven million in 2018.

Health plans must recognize and embrace the impact technology is having on the industry. Those that adopt new ways of caring for patients via technology and virtual services will ultimately benefit from greater patient satisfaction. This may also result in the improved utilization of preventive and urgent care services.

5. Millennials prioritize work-life balance over health benefits.

Response: Because of this shift in attitude towards how health care is approached, it’s important that employers and insurers begin rethinking benefit design to establish new ways of keeping the millennial workforce engaged and feeling rewarded. Providing a flexible work environment, as well as many plan options to cater to different lifestyles, will be a critical component continued success in this ever-changing environment.

The health care industry will continue to evolve, and it’s important that everyone in the ecosystem consider the patient first and give consumers what they want - the most cost-effective, high quality health care for themselves and their families.

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