The Future of Health Care

The world events of 2020-2021 have essentially changed the core of everything that we do – from what and how people make purchases, to where and how they work, and the nature of their interactions with each other. Although at first glance it might not seem the case, but just like many other industries, health care has been transformed because of the pandemic.

Prior to COVID-19, the only segment of the population that received medical treatment at home was because it was deemed “high risk”. The pandemic, however, required health care to go 100% virtual, which resulted in new capabilities to engage consumers via video and telephone. Post pandemic, 60% – 70% of Medicare patient interactions are still virtual, and likely to stay that way. Most Medicare members characterize the majority of their interactions with PCPs as primarily necessary for prescriptions or referrals – both of which can be easily accommodated as a virtual appointment.

These same Medicare patients are at the forefront of the transition sweeping the healthcare industry – including virtual care, expanded home care, and new value-based care platforms. Medicare Advantage companies (which lets seniors choose benefits through private insurance companies) have grown exponentially since the Medicare Modernization Act was passed in 2003 and have seen enrollment explode. Today, the leading Medicare providers are committed to progressive medical principles such as identifying the 20% of the chronically ill population that accounts for 80% of the spend. These types of initiatives are elevating healthcare and increasing consumer advocacy.

Another hallmark of the leading healthcare coverage providers is the focus on customer experience, which in and of itself is the single most determining factor of business success in a post-pandemic world. Many have made the switch from a fee-for-service reimbursement model to a value-based care model, with impressive results. Value-based care is based on doctors’ commitment to delivering high-quality care, and compensates them for the complex care that they deliver – the improved outcomes speak for themselves.

Moving forward, the trend seems to be that healthcare services are moving away from in-patient hospital settings to outpatient facilities, and beyond that, home settings. With the incorporation of audio, video, and telehealth, many unnecessary in-person follow-up visits can be avoided, with significant dollar and time savings, and quicker response times. The fact that seniors are becoming ever more tech-enabled is a major factor in the unprecedented growth of telehealth. And as with any other industry that pivots on customer experience, the Medicare beneficiaries are much more sophisticated shoppers, focusing on value, timely access to care, and less tolerant of wait times in doctors’ offices.

It’s clear that the foundation is being laid for even more virtualization of care over the next decade. Health care organizations will need to collect and manage data, create close, transparent relationships with both providers and consumers, and maintain focus on low cost and high quality. An accredited BPO outsourcing company like award-winning Anexa can support this kind of evolution. While you’re figuring out how to recreate and re-establish your business practices in a post-pandemic world, we can pick up the virtual pieces and manage as much, or as little, of your core business activities as you need. 

Check in with Anexa today to learn more about partnering with one of the best BPO companies in the market.