Health care is being disrupted. Cost inflation has become unsustainable, driving health care systems and payers to seek new approaches, including incentives that emphasize value. These cost pressures are exacerbated by changing demographics, rising incomes in emerging markets and an imminent chronic disease epidemic. The rapid rise of digital health — mobile health, big data and analytics — is enabling real-time, cost-effective interventions. Companies beyond health care are entering the fray, providing new sources of competition and collaboration.
These trends are driving an entirely different approach, moving beyond the delivery of health care by traditional health care companies in traditional ways to the management of health by diverse sets of players, with more focus on healthy behaviors, prevention and real-time care. We are moving to a consumer-centric, outcomes-driven, prevention-focused and cross-sector future of health care.
What is Health Reimagined?
The issues we focus on — and our approach to addressing them — are guided by five basic principles:
- Over-the-horizon focus. In business, as in sport, you need to go where the ball is going to be, not where it has been. Health Reimagined does just that. We analyze long-term, disruptive trends and help our clients — from start-ups to multinationals — and align their business models with the future of health care rather than the past.
- Cross-sector open innovation. Health care is no longer just for health care companies. Firms from technology, telecommunications, retail trade and other sectors are already entering the fray. Health Reimagined breaks down barriers — both within EY and in the industry — to connect dots between health care challenges and creative approaches from other sectors.
- Co-creation. The future of health care requires creative collaboration, and nobody has all the answers. Health Reimagined reflects this reality. We are partnering with health care entities — patients, providers, payers, governments — through a variety of forums and networks.
- Multichannel engagement. We want to be wherever you are. And we want to catalyze creative conversations enabled by today’s proliferation of platforms. So, we will engage with you in different ways across multiple channels: print media, video, social media, blogs and more.
- Action-oriented solutions. Most importantly, this is about more than conversations. We don’t just want to reimagine health — we want to help rebuild it. Health Reimagined is developing creative new solutions to health care’s biggest challenges. We are piloting new models with clients which we will scale up over time.
It’s time to reimagine our approach to health. EY’s Health Reimagined initiative is our effort to catalyze this shift in thinking.