Consult the consumer

Research shows payers and providers anticipate consumers as top collaborators in 3 to 5 years

By | 1 minute read | January 14, 2020

Who do payers and providers collaborate with most often in today’s healthcare ecosystem? Right now, they name each other, but that’s about to change, according to a recent study by the IBM Institute for Business Value (IBV).

The global research is based on interviews with 1,000 healthcare executives in six countries to better understand how payers and providers are managing the paradigm shift away from volume and fee-for-service models toward value-based health.

Value-based health requires collaboration among stakeholders to achieve the better outcomes they are looking for. When the IBV asked about top stakeholders that payers and providers are collaborating with, we see some interesting results.

Source: IBV “The emergenceof value-based health,” page 5

Today, they name each other as top collaborators. But consumers jump to the top of the list for both payers and providers, when asked to predict top collaborators in three to five years. This finding indicates that payers and providers understand the importance of consulting consumers in a value-based system, with the consumer at the center of the process.

How can providers and payers incorporate a consumer-centric approach?

The IBV research indicates three ways organizations incorporate a more consumer-centric approach:

  • Develop a consumer-engagement strategy. Adopt a strategy that empowers the consumer and motivates desired health behaviors and tie it to a strong digital strategy.
  • Deploy individually tailored programs. Have a process to get input from patients and members about their satisfaction and ease of engaging throughout various touchpoints.
  • Develop and analyze multiple sources of data. Measure and adapt to what the data may reveal, once you have information about populations.

Consulting the consumer is just one of six steps the paper identifies to successfully and effectively engage in value-based health. Learn more about them at 6 steps to value-based health.