Baird Global Healthcare Report 2016-2017 Global Healthcare Report - Page 11

with higher return potential tend to be older, sicker and poorer. These consumers are inherently harder to engage with and activate through technology. There are many innovative companies focused on this area. Welltok, for example, supports employers and health plans by organizing various health improvement resources, giving the company access to unique data and insights into successful patient engagement strategies. Meanwhile, athenahealth has been very successful in selling its population health platform to large healthcare systems, in part because of stronger patient engagement capabilities (beyond simple analytics and risk stratification). Doing Data Differently To create the transparency around quality that consumers want, providers are increasingly focused on measuring, reporting and improving the patient experience. This is commonly achieved through patient experience surveys administered following a visit to a hospital or physician’s office. Press Ganey has seen significant demand for its census-based surveying product, which uses electronic methods to survey all of the patients who visit a provider (not simply the 300 paperbased surveys required by the government). This results in four to five times more data for the hospitals, which provides greater insight into the patient experience and how to improve future results. The Consultation Will Be Televised The remote diagnosis and treatment of patients using telecommunications technology offers a number of important capabilities to the healthcare system and is expected to be a high-growth area within healthcare IT. Consumer/employer-oriented telehealth platforms such as Teladoc can provide convenient low-cost access points for consumers and can improve cost trends for plan sponsors (typically employers). Additionally, for hospitals and physicians, such platforms can increase patient engagement and optimize physician schedules. Remote monitoring is another interesting area within telehealth, which can provide more consistent specialty coverage and clinical expertise, especially for rural providers with lower patient volumes. A Positive Prognosis Consumers in the U.S. have an ever-increasing incentive to engage more actively with the healthcare system. This ongoing change will require the adoption of new tech- and data-driven solutions for all key stakeholders within healthcare: patients, employers, providers and payers. While engagement strategies represent an emerging and important frontier, the more established growth areas addressing consumerism include quality/ cost transparency, telehealth and revenue cycle. As large health IT vendors seek to establish consumer-oriented capabilities, we expect acquisition activity will remain robust. 9