Kannan SreedharMay 10, 2021

60% of Healthcare Payers are Accelerating IT Modernization: Here’s Where We’re Headed

Each year, Frost & Sullivan presents an outlook for the healthcare space. After a tumultuous 2020, the firm’s 2021 report shares exciting new prospects: a rebound in medical devices, revenue innovation, and an explosive growth of the global telehealth market. 

Healthcare payers are embracing technology as never seen before, and healthcare delivery is no longer restricted to the four walls of a hospital. As we look ahead, the patient and member experience will never be the same. In a recent webinar, Avaya explored some of these changes alongside Frost & Sullivan.

The opportunity – and the trends and technologies behind it – is for organizations across the healthcare ecosystem to create better patient and member experiences and, more importantly, outcomes. Here’s a breakdown of what was discussed in the webinar:

Trend #1: The explosion of virtual patient interactions. 

In the past, patient engagement only happened when the patient was not well. Healthcare organizations did not look at the entire healthcare ecosystem when considering their patients wellbeing. With digital health being a major investment over the years (and virtual health specifically in the last year), this is no longer the case.

Today, your patients and members now have more care available to them through the channel they want, whether that be chat, phone, video, in-person, or any other channel. There are also more efficient ways to capture this key data across the healthcare ecosystem. Health systems can act more intelligently to help patients and members through their care journey, be it in relation to an episodic event or ongoing, high-cost, chronic care management.  

Using digital technologies, health systems can look at the patient and member as a whole person through a holistic lens with the ability to deliver care anytime, anywhere. This has completely transformed the way care is delivered, the way patients and members pay for healthcare, their health outcomes, and the cost from a care management perspective. Frost & Sullivan predicts a 35% increase in patient interactions that will be virtual globally over the next 3-4 years.  

Trend #2: “Hospital at home” is now the norm.  

“Hospital at home” is unlike anything we have experienced before. Thanks to advanced analytics and interoperability, patients and members no longer need hospitalization to receive high-quality care. Remote patient monitoring and vital monitoring has become so sophisticated that health systems can successfully manage patients in the comfort of their home. But it’s not only advanced analytics and remote monitoring that are making ‘hospital at home’ the new norm. It’s also providing persistent, even proactive, ‘always on,’ secure collaboration and communication between the patient and the entire care team through an all-in-one, rich media interface. This interface can support everyday interactions such as sending member specific alerts, sharing test results, answering questions, providing ongoing care management support for chronic conditions, and facilitating ‘face-to-face’ examinations.  The results: controlled healthcare costs, reduced foot traffic at clinics, and maintained, if not improved, wellness outcomes, with patient and members being in a home setting. Frost & Sullivan expects to see this trend continuing.  

Trend #3: The rise of data convergence and “platformization”  

As they seek to improve patient and member experiences and outcomes, health organizations must navigate data complexity across the health IT ecosystem. Issues such as how to converge data – possibly from a wearable device - to help prevent a disease, manage an episodic event or prevent a chronic condition worsening, as well how to gain a true picture of a patient's ongoing healthcare journey through data are just some of the  key issues to consider and manage. 

The way to win this race is to move toward the “platformization” of healthcare, built on the concept of an open, collaborative, secure, and regulatory compliant technology across the healthcare ecosystem. Regardless of where the patient and member journey starts, all parties - patients, members, clinical care management teams, pharmacies, behavioral health experts, etc. - must collaborate and have comprehensive, real-time visibility into this data. From treatment plans to healthcare services, electronic records to billing cycles – all steps must be synchronized to reduce costs while improving outcomes for everyone involved. 

The Key to Enabling Successful Transformation   

To enable successful transformation, healthcare organizations, and particularly those in the payer community, must leverage next-gen platforms that help empower their employees and the entire enterprise. This means prioritizing investments in open, API-enabled, AI-powered cloud communications, collaboration, and contact center solutions, with the goal of keeping patients and members engaged and employees connected and motivated.

Avaya, a global leader in solutions to enhance and simplify communications and collaboration, provides healthcare providers and payers across the globe with digital, communication, collaboration and contact center solutions through Avaya OneCloudTM, an AI-powered, multi-cloud experience platform. 

Here are some of our customers benefiting from Avaya Healthcare Solutions:

If you missed the webinar, click here for more insights, outlooks, and examples of digital transformation capabilities available to the healthcare payer community today.

60% of Healthcare Payers are Accelerating IT Modernization: Here’s Where We’re Headed

Kannan Sreedhar

For over 30 years, Kannan has participated in the evolution of IT technology with significant experience in leading strategy and business development activities and designing and implementing a broad range of growth initiatives across multiple industry segments. He has an avid interest in driving entrepreneurship and fostering economic development through collaboration between entrepreneurs, universities, research institutions and governments. 

Kannan holds a MS in Computer Science from the University of Oklahoma and an MBA from Duke University's Fuqua School of Business.

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