Disruptions in Healthcare Mean Big Changes for Consumers, Human Resources in 2014
SAN FRANCISCO, CA–(Marketwired – Nov 21, 2013) – Grand Rounds, a company that delivers world-class outcomes to patients by connecting them with the top medical specialists in the country, today released its Healthcare Predictions for 2014, with a special focus on trends that will dramatically affect both consumers and Human Resources executives.
“Healthcare is an industry that has resisted yielding power to the consumers in the way that other industries have,” said Owen Tripp, Co-Founder & CEO of Grand Rounds. “Just about every industry from real estate to retail has made tremendous concessions to the consumer, thanks to the openness of the Internet. But you can only slow consumer access for so long, and healthcare is about to follow the same path. Key advances in medical records technology and portability will give consumers power over their medical care in a hugely disruptive way, starting in 2014.”
In a recent survey conducted by Grand Rounds, it was clear that for Human Resources executives and directors, employee benefits are a key recruiting and retention strategy. Sixty percent would be more likely to stay with their employer if free access to expert medical opinions was offered than if only traditional health insurance was offered, and 68 percent said when choosing between multiple employment offers, they would be more likely to select an offer that includes free access to expert medical opinions that extends to their family.
For Human Resources directors and executives, employee benefits are a key recruiting and retention strategy, and 2014 will be a year to watch. A sample of the 2014 Grand Rounds healthcare predictions include:
1. The PPO Continues Its Slow Decline
As people become more knowledgeable and empowered about owning their healthcare, the industry will start to change accordingly. In particular, high deductible PPOs with narrow networks will face increasing resistance from consumers, resulting in a shift away from PPOs toward more affordable and flexible healthcare options. “Virtual clinics” will also offer alternatives to consumers, providing an “additive” solution to standard medical networks by handling expensive and complex medical conditions in a cost-effective way.
2. Obamacare 2.0: The Move to Private Exchanges
The government will drop public insurance exchanges for private exchanges; according to Oliver Wyman, a consulting firm, 20-30 percent of the marketplace will gravitate to a private exchange over the next 3-5 years regardless of employer size. The same firm also indicates that 50 percent of employers would want to switch to private health insurance exchanges if it meant a 10 percent cost savings. Grand Rounds also feels there will be successful private exchanges with comprehensive services such as AON-Hewitt and GetInsured.com.
3. Healthcare App Marketplace – Every Business Will Need One
Employers will explore consumer-friendly mobile services as they recognize the benefits of healthcare-specific apps. At the same time, employees will download apps to manage conditions such as diabetes and Parkinson’s. Employees will also use apps to access medical guidance online when they find themselves diagnosed with highly specialized conditions — without sacrificing the quality of treatment they receive.
To view the full list of Grand Rounds’ 2014 healthcare technology predictions and more details on these trends, please visit http://grandroundshealth.com/grand-rounds-2014-predictions
About Grand Rounds
Grand Rounds is an Outcomes Management platform that delivers the best healthcare outcomes for employees at the lowest possible cost to employers. It does this by providing an end-to-end solution that connects patients with highly specialized care informed by latest best practices–preventing complications, multiple surgeries, and failed treatments. Grand Rounds helps get employees back to work faster, while employers reap the benefits of lower medical costs and higher employee productivity. For more information, visit http://www.grandroundshealth.com.