Today’s employee-centric market requires employers to work even harder to attract, retain, and engage top talent. During the early stages of the COVID-19 pandemic, organizations focused their response to this unprecedented crisis, primarily through keeping their employees engaged and productive.

Overview

The advancement in technology and competition in the market highlights the importance of customer experience. Applying this concept to healthcare, a service provider brings forth the value of patient experience. Particularly after the onset of the Covid-19 pandemic, transformative patient engagement has become vital for healthcare organizations to maintain economic viability. To respond to this need, hospitals and clinics have streamlined their interactions for improving patient experience.

The healthcare industry is witnessing a paradigm shift. Value-based care is becoming more commonplace over the traditional fee-for-service (FFS) model. Healthcare providers are the primary stakeholders in value-based care, and thus responsible for making pivotal changes in care delivery to enable value-based contracting. According to Deloitte research, between 2014 and 2020, there was a 19% increase in the proportion of providers who say they have a prominent role in limiting the use of unnecessary treatments and tests.

The rising importance of patient centricity in the healthcare environment means that the patient’s voice is now at the center of vendor development and provider deployment efforts. This increasing patient self-reliance has transformed care delivery norms, acknowledging the patients’ desire to participate in their healthcare proactively. With the winds of digital transformation, patients are now starting to weigh their healthcare options as an online shopping experience.

The next step on a moonshot journey

In March 2020, both the Centers for Medicare & Medicaid Services (CMS) and the Office of the National Coordinator for Health Information Technology (ONC) released final rules to promote patient access and improve data exchange arrangements under the 21st Century Cures Act.

In order to manage costs and boost employee productivity, employers need to make sure that the health benefits they are offering are customized according to what employees actually need.

Since its inception in 1965, the Medicaid program has evolved, providing health insurance to young children and children with special medical needs. According to research findings by Medicaid.gov child enrollment data for September 2020 represents 49.5% of total Medicaid and the Children’s Health Insurance Program (CHIP) enrollment.

Background