10 growth strategies to advance your mission

The way health systems have historically defined growth is changing. With COVID-19, the health care space is seeing a rise in technologies such as telehealth and increased consumer demand for personalized services.

During a webinar sponsored by Optum, presenters shared the top 10 factors for growth.

• Danny Fell, Senior Strategist, Optum
• Nick Fromell, Subject Matter Expert, Optum
• Leslie Schatz, Vice President of Product, Optum

Factor 1: Creating a digital front door

Digital consumer experience is increasingly at the center of innovation and can set many health systems apart from their peers. There are two emerging areas to look out for: patient financial experience and sophisticated behavioral economic tools.

Factor 2: Addressing delay of care

A large percentage of Americans is putting off health care because of COVID-19. Health care providers can capitalize on this unique moment by using telemedicine, chatbot, social media, text and email to stay connected. Retail messaging can also shift to more targeted, personalized and cost-effective methods.

Factor 3: Preparing for uninsured patients

There are 30 million uninsured Americans, and COVID-19 has worsened the situation due to layoffs. The uninsured are less likely to seek medical care and preventive care. This is one of the most innovative areas for health care providers and plans to invest in. Solutions might include mobile health clinics, rideshare programs and community partnerships.

Factor 4: Ensuring access to care

Health plans can take several steps to ensure patients can access care despite obstacles. Some of these solutions include leaning into health prevention and wellness, building more community networks and partnerships, and supporting access to care.

Factor 5: Changing the talent landscape

COVID-19 has created a shift to a virtual workforce. This means analytics work can be outsourced and health plans are no longer confined to job candidates from their local market.

Factor 6: Expanding telemedicine offerings

Demand for telehealth has increased since the start of COVID-19, with a 5,000% increase in year-over-year volume. The key is smart delivery of services, focusing on how to best integrate telehealth into the existing care pathway. Regulation and allowances remain in question.

Factor 7: Maximizing physician outreach and engagement

Post-COVID-19, it’s important to maintain normalcy when it comes to physician outreach. Even more important is taking a personal and human approach in working with physicians who may be struggling right now.

Factor 8: Changing growth metrics

Conventional revenue channels have shifted. What does real growth look like? Growth metrics have shifted from durability to resiliency. In particular, key indicators of resiliency include profitability, liquidity, lifetime value of a consumer, service distribution and lives under management. Reframing these goals may require advanced analytics and applied expertise.

Factor 9: Mastering care management

Without an end-to-end care coordination solution to manage risk, quality and cost, health plans risk implementing an expensive and frustrating care management approach. How health plans successfully enable care management and care coordination at home and across virtual platforms is important for the future.

Factor 10: Achieving network optimization

Generating revenue through value-based models has become increasingly important. Improving quality and achieving financial goals remain core challenges. The key to success is improving care and managing cost, building the right network and managing total cost of care.

Listen to the webinar recording. If you would like additional information on how Optum can support your growth priorities, contact us.