PINPOINT THEME: Healthcare 2020.

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In 2013, 24 of the top 50 Fortune 500 companies were new entrants into healthcare. Of this group, seven were retailers and eight were technology and telecommunications companies, all racing toward a slice of the $2.9 trillion sick-care and/or $267 billion wellness sectors. We’ve spoken a lot about scientific and technological advances in healthcare, from nanomedicine to genome hacking, to getting older but stronger; what we haven’t talked about are the healthcare systems of the future that will serve as consumer driven storefronts for self-diagnosis, more and more consumer devices for monitoring health, and digital MD’s offering instant access to healthcare for a flat rate (among other major shifts).

“Some view the changing healthcare landscape as an opportunity to develop low-cost, DIY, or retail solutions for certain types of care, or as a hook to gather valuable data that can be monetized into insights or ad sales. For example, more than 1 million customers transmit data from fitness trackers to Walgreens in exchange for points that can be used like cash to purchase many products in the company’s stores and on its website. Understanding the needs and wants of the consumer is a good place to start. As healthcare exchanges and new competitors offer customers more choices, healthcare companies need to differentiate themselves by providing customer experiences that earn loyalty and trust. Patients will abandon companies that can’t deliver care on their terms.”(Strategy + Business).

As with all other facets of business and market sectors, healthcare is transforming with less emphasis on B2B models and more around building trusted and collaborative relationships with customers that transcend traditional systems. This week we’re diving in to what the future of healthcare might look like for all stakeholders.

Image: Mayo Clinic 

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