The value of analytics in healthcare: From insights to outcomesThe value of analytics in healthcare

Transformation of the healthcare industry is finally happening, and with dramatic energy, driven by a fundamental shift in the expectations of all stakeholders – patients, governments, payers, employers and providers.

Most healthcare organizations realize their business models are aligned with the tenets of the legacy system. They recognize they now must reconsider the consequences of their value proposition and its impact on the health and economic vitality of their institution and the individuals, communities and nations they serve. Leaders in the industry are aggressively pushing innovation into the core of their business and service models, not to achieve incremental change, but to fundamentally change their way of thinking about the service they deliver.

Some of the defining characteristics of this new industry have already begun to take shape. Payers, from governments to employers to individual consumers, are rejecting the existing system in search of more healthcare value. Boundaries are blurring between payers and providers, with a greater willingness to assume risk on the part of providers. And perhaps most significantly, there is a fundamental shift away from the volume-based, fee-for-service model that has dominated the healthcare industry for decades, to a more performance-based, outcomes-driven approach.

These changes are laying the foundation for a more purposeful and integrated system to emerge. But they are also forcing healthcare organizations across the ecosystem to reconsider their business models, restructure their operations, and redefine what value and success mean for themselves, their consumers and the many stakeholders of this rapidly changing industry. For organizations to thrive in this dynamic environment will require new skills competencies that increase agility, improve efficiency, and pave the way for transformation.

Read this new IBM thought leadership study that provides insight to these trends and the new competencies that will be required for healthcare organizations to redefine value and success for their organizations.