The future of healthcare: Value creation through next-generation business models

McKinsey & Company

While the consumption of healthcare services will likely continue to grow, it is unclear that industry profit pools will expand over the next three years given the impact of the COVID-19 pandemic. Insights on Healthcare Systems & Services

The next wave of healthcare innovation: The evolution of ecosystems

McKinsey

How healthcare stakeholders can win within evolving healthcare ecosystems. Insights on Healthcare Systems & Services

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Healthcare in 2020 and beyond

McKinsey

In this video, Penny Dash and Shubham Singhal, two leaders of McKinsey’s Healthcare Systems & Services Practice, reflect on how COVID-19 is transforming the healthcare industry. Insights on Healthcare Systems & ServicesA transcript of their remarks follows below.

Healthcare Industry — The Rise of Vertical Integration

Tom Spencer

In recent years, players in the healthcare industry have strived to create more effective systems in order to improve overall patient outcomes. Traditional ‘fee-for-service’ business models have seen America spend more on healthcare than any other nation and are no longer producing the results that patients need. This approach can promote collaboration, reduce costs, and increase focus on providing effective healthcare solutions that meet patient needs.

COVID-19 Consumer Healthcare Insights: What 2021 may hold

McKinsey & Company

Insights on Healthcare Systems & ServicesAs Americans begin 2021, they are optimistic about the COVID-19 pandemic.

Building a healthcare ecosystem in India: A conversation with Shobana Kamineni

McKinsey

The COVID-19 pandemic led to public-private partnerships that reflect the evolving nature of healthcare. Insights on Healthcare Systems & Services

Making healthcare more affordable through scalable automation

McKinsey

As more healthcare companies start to implement automation technologies, the ability to coordinate across the organization in achieving scale will be a major determinant of success.

Why Haven Healthcare Failed

Harvard Business

Despite being backed by Amazon, Berkshire Hathaway, and JPMorgan Chase, the company is disbanding less than three years after its launch. Economics & Society Digital Article

Women in the healthcare industry

McKinsey

To see how the healthcare sector stacks up on gender equality, we look at employee experiences, policies, and the effectiveness of industry programs intended to promote diversity and inclusion. Insights on Healthcare Systems & Services

Women in healthcare: Moving from the front lines to the top rung

McKinsey

Our analysis shows women in healthcare have made progress and continue to report high job satisfaction. Insights on Healthcare Systems & ServicesHowever, women also encounter persistent obstacles to advancement, particularly for senior positions, where they remain underrepresented.

Promoting an overdue digital transformation in healthcare

McKinsey

Research from over 30 countries offers insight into providing digital healthcare, including practical steps for key stakeholders. Insights on Healthcare Systems & Services

Digitizing healthcare—opportunities for Germany

McKinsey

Society is aging and healthcare costs keep rising. Insights on Healthcare Systems & ServicesBy digitizing the system, health services can be provided at lower cost and higher quality. A new study reveals the areas for and extent of potential improvements.

Transformative healthcare growth through diversification

McKinsey

Insights on Healthcare Systems & ServicesFive lessons to consider when moving beyond your core business.

‘Making a big company feel small’: An interview with HCA Healthcare CEO Sam Hazen

McKinsey

Protecting lives and livelihoods and ensuring stability remain the two main objectives for a large healthcare provider. Insights on Healthcare Systems & Services

Envisioning healthcare after COVID-19: An interview with Ara Darzi

McKinsey

The surgeon and former health minister discusses ways for healthcare systems, in the United Kingdom and elsewhere, to go from providing a “sickness service” to delivering a “health and well-being service.”. Insights on Healthcare Systems & Services

Healthcare Providers: Preparing for the next normal after COVID-19

McKinsey

However, most forward-looking healthcare organizations may use this time to materially scale virtual health offerings in ways that creates competitive advantage. Insights on Healthcare Systems & ServicesThe length of disruption for patients continuing physical distancing remains unclear.

Challenges emerge for the US healthcare system as COVID-19 cases rise

McKinsey

Insights on Healthcare Systems & ServicesRecent COVID-19 trends suggest demand for care in the coming months may be higher and more widespread than at any point in the pandemic, while providers are also facing intensified capacity, supply, and workforce challenges.

Consumer decision making in healthcare: The role of information transparency

McKinsey

Insights on Healthcare Systems & ServicesWhen armed with transparent information, consumers are likely to make different decisions. These decisions include choosing a different provider, often considering reputation, quality, and costs.

Healthcare consumerism today: Accelerating the consumer experience

McKinsey

McKinsey’s latest research shows that consumer engagement in healthcare continues to grow, but many payers and providers are struggling to meet changing needs and demands. Insights on Healthcare Systems & Services

The productivity imperative for healthcare delivery in the United States

McKinsey

Healthcare is a key component of the US economy, but healthcare spending increases consistently outstrips GDP growth. Improving productivity in healthcare delivery could change this dynamic without harming patient care. Insights on Healthcare Systems & Services

The era of exponential improvement in healthcare?

McKinsey

Insights on Healthcare Systems & ServicesTechnology-driven innovation holds the potential to improve our understanding of patients, enable the delivery of more convenient, individualized care—and create $350 billion–$410 billion in annual value by 2025.

Seven Healthcare Industry Trends to Watch in 2020

McKinsey

What issues will matter for the healthcare industry in the United States through the year and into the 2020s? Insights on Healthcare Systems & Services

Helping US healthcare stakeholders understand the human side of the COVID-19 crisis: McKinsey Consumer Healthcare Insights

McKinsey & Company

Healthcare stakeholders on the front lines of the COVID-19 pandemic must understand not only the disease itself, but also consumers’ questions, concerns, and behaviors. Insights on Healthcare Systems & ServicesOur recent rapid-research effort in the US provides some early insights.

Blockchain in Healthcare: Possibilities and Limitations

Tom Spencer

The blockchain revolution continues…next stop: healthcare! Blockchain has shown the ability to streamline and revolutionize a number of industries and sectors and its ability to have a sizeable impact on the healthcare industry will be no different. nephrologists, surgeons, gastroenterologists), other healthcare providers (e.g. 1 As you can see, the healthcare industry is wrestling with the potential that blockchain offers. Limitations of Blockchain in Healthcare.

The evolution of healthcare-provider profit pools

McKinsey

Insights on Healthcare Systems & ServicesWhy nonhospital-provider segments are primed for growth—and why that matters.

To succeed in a healthcare transformation, focus on organizational health

McKinsey

In transformations, healthcare providers and payers must attend to their organizational health, not just their short-term performance. Insights on Healthcare Systems & Services

The silent shapers of healthcare services

McKinsey

The US healthcare services industry is at a tipping point, but who—or what—is driving the undercurrents of change? Insights on Healthcare Systems & Services

Role of Big Data in Healthcare

Tom Spencer

The healthcare industry generates a large amount of data. healthcare system held over 150 exabytes of data back in 2012, and will soon reach a yottabyte (10 24 gigabytes). The desire to understand big data in healthcare is driven by the belief that this data can be used to improve a wide range of healthcare functions including decision support, disease monitoring, and community health management. Healthcare Internet of Things (IoT). Modern Healthcare, 15 Feb.

Future of Healthcare: Virtual and Augmented Reality

Tom Spencer

Currently engineers, physicians, other healthcare providers, and educators are working to create innovative ways to apply these immersive technologies in order to transform clinical teaching and practice. According to a recent ABI Research study, VR services in the healthcare market generated around $9 million in 2017 and this is forecasted to grow to approximately $285 million by 2022. The main focus of any change to healthcare is to improve patient outcomes.

Transforming healthcare with AI: The impact on the workforce and organizations

McKinsey

Artificial intelligence (AI) has the potential to transform how healthcare is delivered. It can support improvements in care outcomes, patient experience and access to healthcare services. It can increase productivity and the efficiency of care delivery and allow healthcare systems to provide more and better care to more people. AI can help improve the experience of healthcare practitioners, enabling them to spend more time in direct patient care and reducing burnout.

Performance transformation: Opportunities for healthcare payers

McKinsey

With increasing affordability pressure, finding opportunities to continuously improve performance is critical for healthcare payers. Insights on Healthcare Systems & Services

From “wartime” to “peacetime”: Five stages for healthcare institutions in the battle against COVID-19

McKinsey

Healthcare has found itself tested by the pandemic. The frontlines are delivering heroically, but the next normal for healthcare will look nothing like the normal we leave behind. Insights on Healthcare Systems & Services

New models of healthcare

McKinsey

Healthcare systems are struggling to meet the evolving needs of patients. Yet there are promising emerging delivery models. Our Insights

Healthcare innovation: Building on gains made through the crisis

McKinsey

Leaders should consider the lessons and achievements of the COVID-19 crisis in forging new innovation aspirations—and the mechanisms needed to execute them. Insights on Pharmaceuticals & Medical Products

Private equity opportunities in healthcare tech

McKinsey

Although private equity firms have been hesitant to invest in healthcare tech, they have reason to invest in promising targets now. Insights on Private Equity & Principal Investors

Understanding the hidden costs of COVID-19’s potential impact on US healthcare

McKinsey

Insights on Healthcare Systems & ServicesWhile the direct impact of COVID-19 has already been substantial, additional layers of delayed or indirect impact have the potential to dwarf the immediate effects. These additional layers of impact related to COVID-19 could result in $125 billion to $200 billion in incremental annual US health system cost.

Healthcare Paradigm Shift: Emphasis on Outpatient Care

Tom Spencer

2 Healthcare consumerism continues to increase as patients are bearing more of the burden of their healthcare costs especially with more and more individuals choosing to enroll in high deductible health plans. Because America’s healthcare system is emphasizing value-based care, hospitals need to better engage physicians in their strategic objectives and daily administrative duties. He’s most passionate about healthcare redesign, patient engagement, and the life sciences.

Safeguarding the lifeblood of American healthcare: An interview with the CEO of AmerisourceBergen

McKinsey

Insights on Healthcare Systems & ServicesSteve Collis reflects on the resilience of medical supply chains, remote leadership during a crisis, and the importance of purpose as a unifying force.

In a Crowded Healthcare Industry, Stand Out with Stellar Patient Experience

Think Customers

Not that long ago, people had limited options when seeking healthcare: they went to their primary care doctor or, for more emergent needs, the local hospital. Patients are increasingly savvy, and the healthcare industry needs to catch up, experts say.

For better healthcare claims management, think “digital first”

McKinsey

Insights on Healthcare Systems & ServicesAlthough end-to-end digital claims management is still a distant vision, much can be gained from digitizing portions of the claims process today.