In this series we are zooming in on trends, brands and innovations within the healthcare space. We hope to explore new perspectives on existing structures and creative approaches that are redefining the system. By focusing our attention on singular aspects of the market we will discover that opportunities for growth are highly achievable. See our previous posts here and here.
You’re sick. You have a cough that won’t go away or a pain in your belly that you’d like to get checked out. Imagine the path you’d take to investigate this problem. You might envision contacting your primary care physician and visiting their office. This might be followed by waiting in a series of small rooms, some questions from the doctor, a few tests, some prodding and maybe a prescription. At the conclusion of this journey you probably have a clearer idea of what was ailing you and a plan for how you’ll stop that ailment. You probably wouldn’t imagine seeing your doctor again anytime soon, unless the pain comes back, the cough persists or somehow things get worse.
This reactionary system in which value is gained only after a problem arises is how many of us understand healthcare. You’re not alone; healthcare organizations also perceive this to be normal. Their structures are built around this model, they leverage it to grow their businesses and meet patients’ needs. But the model is being challenged. There are a few organizations that imagine a different scenario. A journey that is ongoing, focused, data driven and proactive; a system made up of many small preventative measures that add up to big results. At the heart of these brands is a consumer-centric approach that goes far beyond an easier way to refill your prescription. These brands are proving that an aggressive consumer focus is better for patients and for the bottom line.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Consider recent McArthur genius grantee, Jeffery Brenner. As the founder and Executive Director of the Camden Coalition of Health Care Providers, Brenner is impacting his community in incredible ways. One notable example: Brenner has been able to reduce ER visits in Camden, NJ by 40%. Non-emergency ER visits account for nearly 5 billion dollars in national healthcare costs, money that could be otherwise allocated to investing in new technologies, jobs and more quality care. How did Brenner take such a huge bite out of this weight on the system in Camden? He did research.
Coordinating with other members of the Coalition – family physicians, nurse practitioners, health services organizations and others – Brenner gained access to the hospital claims of Camden’s three health systems. Analyzing this data, they found that 20% of patients were accounting for 90% of the costs. They refer to these patients as “super utilizers.” By seeking out these super utilizers and maintaining ongoing proactive care – doctor visits, medication compliance, etc. – they were able to reduce the strain on the Camden system. The recognition by the McArthur Foundation was just icing on the cake.
Another compelling example is Wellpoint’s subsidiary, CareMore. Serving patients across the Southwest, CareMore is a collection of care centers servicing over 50,000 Medicare Advantage patients. CareMore’s impact has also been impressive. CareMore’s patients are 24% less likely to visit the hospital, 38% less likely to stay in the hospital for long periods if admitted and among diabetic patients, 60% less likely suffer amputation. How did they do it? They focused their energies on the daily lives of their members.
At the core of CareMore’s consumer-centric approach is a team of knowledgeable medical professionals that have unprecedented contact with the patients. These professionals focus on the small things: Proper wound care for small cuts, regular nail clippings, consistent weight monitoring and healthy doses of human interaction. These simple actions reduce long-term cost by reducing the incidence of emergency situations. Amputations in elderly diabetics usually start with a simple cut cared for improperly. Life threatening falls are often caused by a snagged toenail on a loose carpet. Rapid weight gain can indicate fluid build up, a sign of more complicated issues. These proactive services keep consumers healthy longer and paint a bright future for the brand delivering them.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
These are just two examples of a growing disruption in the healthcare market. It’s not always the big surgeries and the devices, staff and hospital systems that support them that drive healthcare growth. It’s not always the next magic pill from a pharmaceutical brand that will determine how healthy we are. Healthcare innovation can also come from the smallest steps, which can enable huge leaps for the system as a whole.
Profitability, cost cutting and a powerful brand story can be achieved without chasing the big-ticket items in the healthcare landscape. Potential innovation abounds.
How can your healthcare brand make small steps that have a big impact?
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Prophet is a strategic brand and marketing consultancy. We leverage our cross-industry experience with global brands to deliver inspired and actionable ideas that help our healthcare clients win in the marketplace. For more, visit www.prophet.com/healthcare.
