Digital innovation and the rise of the empowered healthcare consumer

We’ve seen this play out before – industries such as music, entertainment, travel and financial services have all been dramatically disrupted by digital forces and technology, ultimately transforming complex value chains into creator-to-consumer models.

Healthcare will be next. Transformative market forces, coupled with rapid advances in digital technologies, are placing consumers at the center of an increasingly virtualized, personalized and delocalized healthcare system. Anticipating disruption, an unprecedented number of new entrants and venture capital-backed solution providers focusing on healthcare have emerged. In fact, digital health funding reached a new high in 2015, with close to $6 billion in investments (1).

While responding to this transformation will be an existential challenge for traditional healthcare organizations, it will be prudent to quickly master successful engagement with the healthcare consumer of today and tomorrow if organizations hope to survive and thrive in this new healthcare economy.

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Cognizant Business Consulting, consumerism, disruption, Internet of Things, IOT, member-centric experience, value chain

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