Taking action in the midst of uncertainty.
The post-reform environment will likely require you to take action, even in the midst of uncertainty about the future—such as enrollment in health insurance exchanges, the health care cost trend and the impact of accountable care organizations—and the fading, 80-year-old business model. For health plans working to find their way in the new marketplace, it’s important to follow a deliberate process to design and position your future for sustained performance.
It’s important to know how you are going to respond to the growing prominence of government-sponsored business. You’ll need to pick your growth strategy: horizontal (remaining within the core insurance product), vertical (expanding to serve different parts of the health care value chain), or through diversification (expanding into territories completely outside the traditional health care space). You’ll also need to evaluate the growth potential in partnerships, alliances and consolidation.
Thinking innovatively will help you to understand your new business model and the individual trigger events that will likely require you to pivot in order to capture margin and opportunities. As health care continues to be more closely focused on individuals—in terms of personal care and financial liability—your relationships and value to stakeholders will be critical for your long-term performance, if not viability.
Deloitte professionals have experience that spans the health and insurance industries and take a more collaborative and innovative approach to help guide you through:
- Understanding your current state—evaluate your assets, weaknesses, vulnerabilities and opportunities. Do you have the right platforms for a future in health care?
- Defining the future state you want to achieve—what does success look like—what are your mission/vision/values? Can you make money and be relevant in the short- and long-term?
- Mapping the way—develop specific goals, line up the tools to help you reach them, chart what constitutes acceptable progress and incorporate them into your daily work; take action for the future while continuing to serve existing businesses.
Will the future of health care include you? Are you asking the right questions and taking the right actions?
- Innovation - sets innovation strategy, designs, builds and launches innovations and helps our clients become better innovators. Putting design and strategy together, we work toward “balanced breakthrough” innovations
- Integrated care management
- Retail consumerism/choice
- Digital - Designs and implements mobile, cloud and social solutions that align with our client’s key business objectives
- Consolidation – Provides services such as pre-merger synergy analysis; post-merger integration planning, operations and technology; and post-merger strategy and business plan
|Dhan Shapurji, Director, Deloitte Consulting LLP|
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.