Reporter: Gail S. Thornton
This report is entitled, “REDEFINING YOUR VALUE TO WIN THE EMPOWERED PATIENT. Six Steps for Life Sciences Firms to Stay Relevant in the New Healthcare Ecosystem,” which was published by Strativity Group, LLC in 2019. Please find an excerpt below.
Patients have taken charge of their lives, and they are empowered by increasingly more sophisticated and accessible tools. They still require physicians, hospitals, insurance companies, and life sciences companies to support them, but the dialogue, expectations, and engagement are changing radically as patients approach their healthcare with confidence and knowledge rather than fear and submission.
Today’s Patient Is the New Industry Authority Changing consumer expectations and behaviors have brought just about every industry to a tipping point, where consumers – not traditional experts, companies, or brands – have appointed themselves as the new authority. While the trend may have started in less expert-dependent industries like travel and banking, it’s now also penetrating areas where consumers have historically had much less power and influence, including healthcare. The healthcare industry itself also emboldened patients to redefine their roles in response to rising healthcare costs, shrinking provider availability, and increased skepticism of the medical insurance and life sciences industries. Macro- and micro-trends have come together to create a perfect storm in healthcare, and that means life sciences firms need to seriously rethink their roles and value in the new patient centered landscape. To get a deeper understanding of the new environment, consider the following trends that are putting patients in the driver’s seat: • Knowledge abundance The wealth of knowledge available online has made health information both broadly accessible and much more understandable. Hospitals, nonprofit associations, and bloggers transformed professional jargon and made it accessible to billions of consumers who are now turning to the web before they turn to traditional experts, such as physicians. In fact, a dotHealth Consumer Health Online 2017 Research Report that found 57% of consumers consult the internet for information before visiting a doctor and only 32% consult with their doctor first. iv • Evolution of peer groups Patients are establishing local and global support groups of peers in similar situations. They find this authentic support system trumps traditional knowledge sources such as physicians and pharmaceutical companies. Patients find more strength and support in those groups and amplify their roles in the overall ecosystem.
About Strativity Strativity is a strategy activation firm that partners with organizations that want to differentiate through consistently exceptional customer and employee experiences during a time of ever-evolving expectations and digital disruption. With a deep understanding of human motivation and a proven methodology, we engage the hearts, heads, and hands of executives, employees, and customers to deliver rapid and lasting change. Our philosophy, approach, and results have inspired industry leaders like BMW, FedEx, GSK, Honeywell, Johnson & Johnson, MasterCard, Mazda, Mercedes-Benz, The New York Times, Royal Caribbean Cruise Line, Teleflex, and Walmart to rely on Strativity to transform their organizations and enhance their performance.
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