Health services

Healthcare consulting services for payers and providers

Next in health services 2024:

For much of the health services sector, 2024 will be a year of sustained economic compression – “the big squeeze.” This reality requires a new response. Some organizations have already started to pursue new approaches to growth and innovation. For many others, 2024 will likely be the year they realize they are not doing enough to adjust their business and face real consequences for falling behind. We believe industry-wide transformation, tech-enabled business model reinvention, lasting trust with consumers and stakeholders and transformative deals can create a viable way out of compression and into the future for health systems and health plans.

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Health services challenges and opportunities

Confronting Affordability and Disrupting Costs

Health plans and health systems need to confront affordability head on, seize every opportunity from foundational technology investments, to regulatory shifts and ecosystem models, deals or crises to set a path towards much lower long term costs, health equity and the capabilities that support the shift to value based care and pressure on reimbursement.

Digitizing Healthcare

Payers and providers still have the opportunity to move faster towards digital business models, integrating functions, sites of service and care, and stakeholder experience more seamlessly and digitally. Underlying this shift is the need for better insights, analytics, cloud architecture and modern foundational administrative technology.

Attracting and Retaining Customers

The quest to attract and retain members or patients is pushing payers and providers to invest in capabilities that engage earlier, sustain that engagement, ensure accessibility to services and ultimately improve patient care l- highlighting the need for improved marketing, relationship and engagement management.

Rethinking Risk

As health service organizations continue to get larger, more regulated and more consumer facing, they need to up their game by anticipating, understanding and controlling their risks in compliance, finance, operations, and technology.

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Solving Clinical Workforce Shortages

Healthcare executives will need to face workforce shortages with a focus on attracting and retaining talent into a more agile and tech-enabled workplace.

Delivering Deals Value

Deal value will likely take the shape of companies focused on primary care, home health, retail/ patient technology, data and digital platforms and divestiture of non-core and/or non-strategic assets while large players continue to seek consolidation plays.

Accelerating Growth

The health services industry continues to evolve quickly with private equity, new business models, consolidation and consumer preferences all impacting legacy payers and providers. These organizations need to aggressively address all growth levers from those that give them the right to stay in the game, position to win in the current world.

Business Transformation through Strategic Managed Services

Health Services companies' operations and operating models often prevent them from achieving true business transformation.

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Thom Bales

Thom Bales

Principal, Health Services Sector Leader, PwC US

Laura  Robinette

Laura Robinette

Global Engagement Partner, Health Industries Trust Solutions Leader, PwC US

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