Price-sensitive consumers are distinguishing high-quality healthcare from high-cost healthcare, according to a report. Sixty-five percent of consumers do not believe expensive medical treatment means better quality.
That is a key finding of the annual report on the Top Health Industry Issues for 2014 published by assurance, tax and advisory firm PWC’s Health Research Institute (HRI).
The report also found that providers and consumers are increasingly adopting mobile health technologies – more than one-quarter of consumers use mobile apps to schedule healthcare appointments, up from 16 percent a year ago.
The annual report identifies the ten leading issues facing the US health sector this year, including the need to adjust to empowered consumers, rapid innovation, and increasing competition from non-traditional players.
It includes the results of a survey of 1,000 US consumers and interviews with health industry leaders that provide insights into the emerging new health economy.
It notes that much of the health industry has accepted that reform is here to stay – and forward-looking executives are making decisions based on a post-ACA landscape that has altered the provision of insurance and the delivery of care.
According to HRI, ten issues stand out as the top focus for the health industry in the year ahead. These include new regulations that aim to eliminate counterfeit medications in the drug supply chain; social, mobile, analytics, and cloud technologies driving new health industry business models; and the need for drug manufacturers to rethink their clinical trial research methods, embracing alternative approaches.
“While health insurance exchange implementation is driving headlines today – in reality the next 12 months will be marked by how well the industry addresses a range of core business challenges. Our annual Top Issues report identifies the main concerns facing the health industry in 2014,” said Kelly Barnes, PwC's US health industries leader.
“Businesses must address rapid innovation and competition from non-traditional players, but above all they must respond to empowered consumers as customer-centric transformation sweeps healthcare.”
PWC’s Health Research Institute (HRI), Top Health Industry Issues for 2014, HIT
