Change Healthcare Releases the 9th Annual Industry Pulse Survey
NASHVILLE, Tenn., March 18, 2019—Today Change Healthcare and the HealthCare Executive Group (HCEG) published the 9th Annual Industry Pulse Survey report. Among the findings: fully one-third of healthcare executives surveyed, the largest single block, believe non-healthcare market entrants could upend industry business models. Meanwhile, Social Determinants of Health (SDoH) initiatives are disrupting healthcare delivery and reimbursement, with a significant number of respondents planning to offer programs addressing care coordination, transportation, food insecurity, and other factors for members over the next 12 months.
These are just some of the industry insights and sentiments revealed in this year's Industry Pulse, an annual survey designed to provide executives with timely insights on opportunities, challenges, and trends in the healthcare market.
Additional findings show nearly 40% of respondents said a market in which the majority of value-based relationships include both upside and downside shared-risk remains three to five years off—a concerning finding that might indicate payers and providers continue to struggle in their efforts to scale complex, value-based care and reimbursement models from pilot to production.
"Healthcare is navigating disruptions on multiple fronts, and as a consequence, payers and providers are finding themselves stretched thin as they try to address a perfect storm of change," said David Gallegos, SVP, Consulting Services, Change Healthcare. "As if insurance market changes, value-based care, consumerization, and regulatory uncertainty weren't enough, this year the industry is facing a new breed of market entrants and innovators whose impact remains unknown but could be substantial. Even the largest healthcare organizations don't have the people and processes to move on all these fronts alone, yet they can't ignore these changes."
Other Industry Pulse Survey findings include:
- Consumer demand for better access, price/cost transparency, and convenience are all paving the way for external competitors that provide a highly refined consumer experience to enter and disrupt the market;
- Artificial Intelligence (AI) and advances in analytics will address lagging business models and a growing talent gap; and
- Cybersecurity initiatives are a lower funding priority despite the rise in breaches, with 40% of respondents citing sophistication of attack outpacing prevention capabilities.
This year's research draws from 185 healthcare leaders, 28% of whom are at the president or C-suite level, 48% VP-level or above, and includes HCEG members, Health Plan Alliance members, and Change Healthcare customers. The overall report provides a timely perspective on more than 16 topics, including general market trends, population health, value-based care, consumer engagement, clinical and data analytics, risk sharing, SDoH, cybersecurity, and more.
"Industry Pulse 2019 is deserving of significant attention from every healthcare stakeholder," said Ferris Taylor, Executive Director of HCEG. "For the first time, external market disruption (#7) appears on the HCEG Top 10 list, while transformative issues like consumerism (#2), analytics (#1) and payment reform (#4) remain multiple-year priorities. Is it concerning that the transition from volume to value has been on the HCEG list for ten years and still looks to be five-plus years off? We hope this Annual Report spurs conversation and action for current stakeholders in adapting much faster to demands of a 21st century healthcare system. If traditional stakeholders aren't able to transform healthcare, outside parties will!"
The complete survey results can be accessed at no charge here. Registration is now open for the 2019 Industry Pulse Survey webinar, which will provide a rundown of the research and feature commentary from HCEG analysts and Change Healthcare, will be held on Thursday, April 18, 2019 at 2:00 p.m. (EDT).
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About the HealthCare Executive Group
HCEG is a national network of healthcare executives, thought leaders and select technology partners who navigate the tactical and strategic issues facing healthcare today. Founded in 1988, HCEG provides a platform that promotes healthcare innovation and the development of lifelong professional relationships where the open exchange of ideas, opportunities for collaboration and transformational dialogue can freely ensue, especially with respect to the annually identified list of HCEG Top 10 Issues. For more information, visit www.hceg.org or follow HCEG on Twitter at @HCExecGroup.
About Change Healthcare
Change Healthcare is inspiring a better healthcare system. Working alongside our customers and partners, we leverage our software and analytics, network solutions, and technology-enabled services to enable better patient care, choice, and outcomes at scale. As a key catalyst of a value-based healthcare system, we are accelerating the journey toward improved lives and healthier communities. Learn more at changehealthcare.com.