The Future of Health™ next steps
Explore the transformative forces reshaping health care
Accelerate transformation to thrive in the Future of Health
Market trends indicate that the Future of Health is already here, with winners and losers emerging. Incumbents that invest in next-gen capabilities and technologies are likely to experience growth, while those that continue to invest in traditional infrastructure and talent could be left behind.
To be successful in the Future of Health, organizational leaders should rethink their business models and capital investment strategies, forge new partnerships, and examine the workforce needs of the future. Consider how you want to make an impact, where you expect to invest, and whom you can partner with as you embark on a transformation to thrive in the new world.
Ways to win
What objectives could current and emerging players in the health sector consider to create a competitive advantage?
Industry incumbents
Classic life sciences and health care industry players include health care providers, health care plans, biopharma, and Med Tech. As a classic player, you could concentrate on these strategies to secure your advantage in the Future of Health.
- Execute digital transformation that shifts legacy consumer models into a new reality anchored on elevating the human experience.
- Continue to invest in a lean digital core, process reengineering, and foundational technology that enables automation and analytics.
- Establish enterprisewide data and insights generation platforms by accelerating migration of backbone systems to the cloud.
- Access next-gen tech and capabilities through traditional and nontraditional acquisitions, partnerships, alliances, and ecosystems.
New entrants
Sectors such as health tech and consumer health would be defined as emergent players within the industry. As an emergent player, these approaches could lead to growth as you mature your position and scale your operations.
- Develop go-to-market channels with a hyperfocus on health consumer engagement, acquisition, and retention.
- Build infrastructure that enables collaboration with high-value industry.
- Invest in enterprise technology that allows for rapid growth and scalability.
Non-native industry entrants
Established players in other industries, such as tech hyperscaler or retail areas, can better position themselves to enter the health realm by focusing on these objectives.
- Build infrastructure that enables collaboration with high-value industry players.
- Design and deploy health-specific marketing, sales, and customer experience campaigns and capabilities to gain brand credibility and permission.
- Optimize and adapt technology systems that support health-specific ventures and use cases.
- Expand management and human capital capabilities to effectively navigate a regulated, multi-stakeholder health ecosystem.
Our approach to activating the Future of Health
A strategic, step-by-step process helps health care leaders make incremental changes that ladder up to successful organization transformation. Activation begins with identifying a portfolio of thoughtful and interconnected initiatives anchored to a clear future of health ambition. Strategic incrementalism can be a way to activate your organization immediately by choosing transformational initiatives that deliver value and progress today and position your organization for the marketplace to come.
To succeed, organizations will likely need to have a clear and unifying Future of Health vision, as well as other strategic drivers. Our team is here to help your organization identify them to scale impact.
Embrace the Future of Health with confidence
As you embark on your company’s transformation, challenges can be overcome by designing a thoughtful approach to iterative change. This allows the organization to meet short-term growth and profitability goals while simultaneously executing a long-term strategy for the future.
