The healthcare industry is undergoing a transformation driven by consumer empowerment and new regulations that allow for data liberation and personalization. In a recent ViVE 2023 session, Sophy Lu, Chief Information Officer at Northwell Health, and Kristen Valdes, Founder & CEO of b.well Connected Health, discussed how healthcare organizations can align their strategic initiatives with these changes to provide consumers with personalized care throughout their entire lifetimes. In this blog post, we’ll explore the ideas presented in the session and delve deeper into the importance of digital transformation and consumer-centric healthcare in today’s healthcare landscape.
Digital Transformation in Healthcare
“Data is the fuel for innovation,” says Sophy Lu, Chief Information Officer at Northwell Health, during the session. Digital transformation is a complex and multi-faceted process that involves the strategic adoption of digital technologies to drive positive change within healthcare organizations. With the advent of electronic health records, telemedicine, wearables, and other digital tools, the healthcare industry has made great strides toward digital transformation. However, there is still a long way to go.
According to a survey by HIMSS Analytics, only 22% of healthcare organizations have fully implemented digital transformation initiatives, while 61% are still in the process of planning or implementing them. This highlights the need for the majority of healthcare organizations to embrace digital transformation and make it a strategic priority in order to meet evolving consumer expectations.
“Consumers want to be able to manage their healthcare on their own terms,” says Kristen Valdes, CEO of b.well Connected Health. Consumer empowerment is driving the need for change in the healthcare industry. Consumers today are more informed and engaged than ever before, and they expect to be able to manage their healthcare the same way they manage other aspects of their lives – through digital channels that are convenient, easy to use, and personalized to their needs.
A study by Accenture found that 77% of consumers are interested in using digital health services, and 52% are willing to switch to a provider that offers them. This indicates that consumers are actively seeking digital solutions to help them manage their health and beginning to prioritize digital over a length of time with an organization.
The Importance of Aligning Strategic Initiatives
To win over consumers and provide them with personalized care, healthcare organizations need to align their strategic initiatives with the changes happening in the industry and catch up to the other industries surrounding them. This means embracing digital transformation and adopting a consumer-centric approach to healthcare.
According to Sophy Lu, Chief Information Officer at Northwell Health, this involves creating a culture of innovation that encourages experimentation and collaboration. She notes that innovation doesn’t just happen in a lab – it happens when people come together and share their ideas and experiences.
Kristen Valdes, CEO of b.well Connected Health, emphasizes the importance of building consumer trust. This involves being transparent about data usage and ensuring that consumers have control over their own data. It also means providing personalized recommendations that are based on a consumer’s unique needs and preferences.
Third-Party Studies Supporting Digital Transformation and Consumer-Centric Healthcare
Numerous third-party studies have shown the benefits of digital transformation and consumer-centric healthcare.
- A study by the Commonwealth Fund found that patients who use digital health tools are more engaged in their healthcare and have better outcomes.
- A report by McKinsey & Company found that healthcare organizations that embrace digital transformation can reduce costs by up to 25%.
- A Deloitte Center for Health Solutions survey found that consumers who use digital health tools are more likely to report positive experiences with their healthcare.
At b.well Connected Health, we’re committed to being the stewards of technology and helping consumers thrive. We believe in building trust with consumers by being transparent about data usage and giving them control over their own data. We also provide personalized recommendations based on a consumer’s unique needs and preferences, making healthcare more accessible and enjoyable. By embracing digital transformation and adopting a consumer-centric approach to healthcare, we can create a brighter future for all.