The word "patient" is rapidly fading from the healthcare lexicon. Nowadays, healthcare executives sound like those from any other industry, talking about "consumers" or even "customers."
With consumer-friendly companies like Apple and Amazon nipping at the heels of traditional healthcare organizations, not to mention the rise in out-of-pocket expenses, the consumer is inching toward center stage in healthcare. Leaders are responding with efforts to create more seamless and convenient healthcare experiences. They're starting to notice that consumerism matters. That's reflected in how they're using technology, innovative thinking and hiring. Healthcare CEOs see consumerism transforming the industry and are looking for tools to navigate that change, according to Modern Healthcare's most recent Power Panel survey of 75 top CEOs.
But saying an organization is consumer-focused isn't enough. It's about executing a real strategy, whether that's driving patients to lower-acuity settings or turning mobile devices into health management tools. In general, the CEOs saw investment in technology and new ways of conducting their business speeding up, with none saying that innovation is slowing down and only a few saying that it's staying the same.