Challenge and transformation
Consumer behavior is increasingly dictating the future of healthcare. The COVID-19 pandemic resulted in an industry-wide shift toward digital healthcare delivery, with virtual visits becoming a major shift for non-urgent situations. But the transformation of consumer healthcare go beyond the rise of digital tools and patient norms.
The industry in major markets like the U.S. faces major political and economic challenges, including a shortage of doctors and nurses, shifts in Medicare and insurance reimbursements, declining patient loyalty, and a reduction in elective procedures. These challenges combined are driving unprecedented simultaneous change for healthcare providers, who must also navigate the demands for patient privacy, regulatory compliance and the rapid development of sufficient technical skills.
All the while, patient expectations in healthcare are increasingly set by the experiences they’re accustomed to in other industries. However, digital transformation in healthcare doesn’t happen as readily as it might in other sectors. While innovative startups might have an easier time adapting, the large academic health systems face particularly arduous processes when contracting with new technology vendors. They often find themselves grappling with the burden of legacy technology and siloed data systems, which means implementing public scheduling tools, customer loyalty programs, patient portals and data collection — all vital for delivering the desired experiences — comes with unique privacy, operational, and regulatory risks.
Out of all this challenge, the opportunities for positive change are expansive. At Valtech, our thought-leading 20+ year practice in consumer healthcare is international and deeply grounded premium platforms and practices with an unparalleled history of success for some of the most well known brands. With a diverse and industry-leading practice in large health systems, academic medical excellence, retail medicine optimization, specializations like Children's Hospitals and Cancer centers, Valtech has been at the forefront of successful experience and digital transformation——creating trusted experience and sustainable, forward-leaping operations.
