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How AI is Shaping the Patient and Clinician Experience – My Conversation with Microsoft

For change agents in health care, one of our True North paradigms is the Quintuple Aim. The five pillars of the Quint Aim grew from 3 goals of the Triple Aim: to improve patient experience, to drive better health outcomes, and to lower per patient costs. The Quadruple Aim added the goal of bolstering clinicians’ well-being (to address burnout, stress and depression), leading to the addition of health equity as the fifth objective. That happened in 2021, in the height of the COVID-19 pandemic which shined a bright light on health disparities, inequities, and risks in peoples’ social determinants of

 

From Evolution to Innovation, from Health Care to Health: How Health Plans With Collaborators Are Re-Defining the Industry

As a constant observer and advisor across the health/care ecosystem, for me the concept of a “health plan” in the U.S. is getting fuzzier by the day. Furthermore, health plan members now see themselves as medical bill payers, seeking value and consumer-level services for their health insurance premium investment. Weaving these ideas together is my mission in preparing a session to deliver at the upcoming AHIP 2024 conference in June, I’m thinking a lot about the evolving nature of health insurance, plans, and the organizations that provide them. To help me define first principles, I turned to the American father

 

The Wellness Market Shaped by Health at Home, Wearable Tech, and Clinical Evidence – Thinking McKinsey and Target

Target announced that the retail chain would grow its aisles of wellness-oriented products by at least 1,000 SKUs. The products will span the store’s large footprint, going beyond health and beauty reaching into fashion, food, home hygiene and fitness. The title of the company’s press release about the program also included the fact that many of the products would be priced as low as $1.99. So financial wellness is also baked into the Target strategy. Globally, the wellness market is valued at a whopping $1.8 trillion according to a report published last week by McKinsey. McKinsey points to five trends

 

Access to Technology Is the New Pillar for Well-Being: CES & the UN Partner for Human Security for All

In kicking off #CES2024, CTA’s researchers noted the acceleration of global connectivity, with gaps in peoples’ ability to connect depending where they live: by region, the percent of people connected to the internet today are, according to CTA’s data, 92% in the U.S. 87% in the E.U. 76% in Latin America 73% in China 55% in Nigeria 46% in India. Such gaps in connectivity threaten peoples’ individual well-being, but also social and political stability that impacts the entire world’s security. And not to overlook, as well, the promise of AI to do good at scale at the enterprise-level, globally.  

 

What to Expect For Health/Care at CES 2024

Not known for its salubrious qualities, Las Vegas will nonetheless be a locus for health, medical care, and well-being inspiration next week when the Consumer Technology Association convenes the annual CES featuring innovations in consumer technology.               Ten years ago here in Health Populi, I wrote about New Year’s Resolutions for Health and the 2013 Consumer Electronics Show. Then, one-third of consumers were keen to buy health tracking technology but most of those people were healthy, CTA’s research found. I talked about the “battle of the (wrist)bands” witnessed at CES 2013, and spotted the

 

The Health Consumer in 2024 – The Health Populi TrendCast

At the end of each year since I launched the Health Populi blog, I have put my best forecasting hat on to focus on the next year in health and health care. For this round, I’m firmly focused on the key noun in health care, which is the patient – as consumer, as Chief Health Officer of the family, as caregiver, as health citizen. As my brain does when mashing up dozens of data points for a “trendcast” such as this, I’ll start with big picture/macro on the economy to the microeconomics of health care in the family and household,

 

Healthcare Bills, Affordability, and Self-Rationing Care Will Continue to Challenge U.S. Health Consumers in 2024

Two-thirds of U.S. consumers say they can’t afford to pay their medical bills on-time, based on the 2023 Consumer Survey from Access One, a financial services company focused on healthcare payments.               The report’s title page asks the question, “What options do consumers really want for paying healthcare expenses?” The survey report responds to that question, finding out that nearly one-half of patients have taken some kind of action to reduce their medical expenses. Furthermore, one-third of consumers are not confident they could pay a medical bill of $500 or more. Access One fielded

 

The Best Global Brands Through a Lens on Health – Reading Interbrand’s 2023 Annual Report

“Businesses which have witnessed a rise in brand value…have all transcended their established category norms and play a more significant and meaningful role in society and consumers’ lives,” we learn in the Interbrand Best Global Brands 2023 report, subtitled, “How Iconic Brands Lead Across Arenas. Most brands stagnated or lost ground in terms of brand value in 2023, with average growth rate of 5.7% compared to 16% in 2022. But those who rose fast bucked the stagnation trend, and included the fastest risers Airbnb (growing brand value by 21,8%) and Microsoft (increasing in brand value by 14%, the highest growth rate

 

Health Care Finance Leaders Look to Cut Costs and Improve Patients’ Financial Experience — Think AI and Venmo

One half-of health care financial leaders plan to invest in technology to cut costs — and most believe that AI has the potential to re-define the entire finance function as they look to Leading the transformation, a study conducted by U.S. Bank among U.S. health finance leaders thinking about emerging technologies.               U.S. Bank fielded a survey among 200 senior health care financial leaders in the U.S., 30% of whom were group CFOs, 20% regional/divisional CFOs, 25% senior managers, and the remaining various flavors of financial managers. All respondents were responsible for at least $100

 

The 2023 Health Economy – The Evolving Primary Care and Retail Health Convergence Through Trilliant Health’s Lens

In U.S. health care’s negative-sum game, stakeholders who survive and win that game will have to deliver value-for-money, we learn from Trilliant Health’s 2023 Trends Shaping the Health Economy Report.                 “Report” is one word for this nearly 150-page compendium of health care data that is an encyclopedic treasure trove for health service researchers, marketers, strategists, journalists, and those keen to explore questions about the current state of health care in America. As Sanjula Jain points out in the Report’s press release, the publication resembles another huge report many of us appreciated for

 

The Healthcare Financial Experience is a Stressful One: the Convergence of our Medical, Retail, and Financial Lives

One in two consumers in the U.S. feel their well-being or healing was negatively impacted by difficulty paying for their medical care. Welcome to the convergence of patients’ health care life with financial and retail lives, we learn from the 2024 Healthcare Financial Experience Study from Cedar.                   And that patient’s positive clinical experience can absolutely reverse the consumer’s perception of the provider, noted by this quote from OSU’s Chief Financial Officer Vincent Tammaro: “We’ve cured you of your ailment, but we’ve harmed you financially.” That’s a form of financial toxicity that

 

The Omnichannel Imperative for Healthcare: Supporting Telehealth Awareness Week 2023

“What omnichannel really means: hearing the customer wherever they are and making them feel heard, valued, and understood.” That statement comes from Qualtrics’ explanation of omnichannel experience design. The very human needs of feeling one is heard, is valued, and is understood, underpin the rasion d’etre of omnichannel marketing. And these very values are those that underpin the trust between patients and providers and the large healthcare ecosystem.         It’s Telehealth Awareness Week, led by the ATA. I celebrate and support the effort; this Health Populi post explains the Association’s mantra that Telehealth is Health, and that

 

The Clinician of the Future: A Partner for Health, Access, Collaboration, and Tech-Savviness

One-half of clinicians working in the U.S., doctors and nurses alike, are considering leaving their current role in the next two to three years. That 1 in 2 clinicians is significantly greater than the global 37% of physicians and nurses thinking about leaving their roles in the next 3 years, according to the report Clinician of the Future 2023 from Elsevier.             Elsevier first conducted research among doctors and nurses for the Clinician of the Future report in 2022, following up this year’s survey research online among 2,607 clinicians working around the world: Elsevier polled

 

Consumers Continue to Spend on Technology, Seeking “A Happy, Healthy Connected Life”

Most U.S. consumers will continue to spend their disposable incomes on connected consumer devices, but will be looking for more balance in their digital lives according to Deloitte’s fourth annual 2023 Connected Consumer Survey.                 In this year’s update, the Deloitte Center for Technology, Media & Telecommunications found that most households use five key digital devices daily: above all, smartphones, followed by laptop and desktop computers, tablets, and computer monitors. Most consumers who own smartwatches and health and fitness trackers also use those devices every day, as shown in the household penetration/usage chart