Earlier this year, #TheHealthSummit convened influential executives, policymakers, and investors involved in the transformation of healthcare. Oliver Wyman co-hosted an action group titled “rEvolution Outlook: Consumer-Driven Innovation.” Oliver Wyman Partner Sukanya Soderland led a robust discussion on the use of technology to unlock and scale consumer value.
Oliver Wyman was proud to co-host the “rEvolution Outlook: Consumer-Driven Innovation” session at the Health Evolution Summit. We examined the rise of the empowered consumer, who seeks (and increasingly expects) transparency and choice and a frictionless experience in their healthcare services. Technology, while a powerful tool, will not alone address those needs. Healthcare companies will need to revamp their business models and processes to better serve consumer needs.
It’s useful to study disruptors from outside the industry, like Uber and Nest, to imagine ways the future healthcare model might evolve. Uber, for instance, relies on a curated ecosystem, transparent pricing, convenience and community, and consumer feedback to improve. All of which could be translated to the healthcare landscape.
The session went on to identify challenges and potential solutions to unlock and scale consumer value, so that the industry can transform from being a supply-side economy to a demand-driven market. For more information, read this report.