The healthcare industry has been going through a major transformation in the last couple of years. We have seen healthcare providers across the world increasingly adopting new and innovative technologies. Just in the past decade, we have seen robotics augmenting doctors’ “black bags” with technologies such as Da Vinci Surgical System or remote presence robots helping medical staff to “virtually” consult with patients and their families.
However, healthcare organizations must face new and necessary business change along with that of technology to meaningfully capitalize on the promise of the digital era. From unlocking the value of data analytics and placing a greater reliance on bots, to addressing security concerns and connecting a fragmented industry, there is hard work ahead for healthcare organizations. In fact, Cognizant’s study conducted jointly with the renowned economist Nouriel Roubini, revealed that healthcare players foresee a huge amount of work ahead in their digital strategies, with only one in ten executives saying they are even moderately ahead of their peers in other industries today when it comes to digitalization. So where should the healthcare organizations begin their journey?
Delivering healthcare into the future, the digital way
To reshape and transform the industry, all stakeholders in the value chain—patients, providers, payers, and even pharmaceuticals and medical equipment providers— have a vested interest in hastening the digital business change.
While there is no single playbook for being digital, there is a growing set of lessons learned and best practices that organizations can leverage to navigate the digital shift. It is crucial to define a roadmap based on an enterprise-wide strategy and prioritized investments, but that is not all it takes - ‘being digital’ also requires a deep understanding of how digital initiatives will affect business operations. Here are some critical factors for healthcare payers and providers to consider while navigating the digital shift: