New! Building, Marketing, and Financing Consumer Value in Healthcare
January 12, 2007
8:15 a.m. - 3:45 p.m.
Consumer-directed healthcare is coming – probably sooner than we think – and it will change everything. The basis for management decisions in this new world will concern creating perceived value in both the selection of a health plan and the choice of actual healthcare services. This seminar will explore current and future ways to build real value, how to make sure perceptions match reality for customers, and where to find the cash to make all of this work.
As large numbers of consumers choose to have their own health savings accounts and bear significant risk under high deductible health plans they will become better shoppers. Then they will discover healthcare system failures in pricing, wild variations in utilization and outcome, non-existent coordination of care, and poor attention to service and convenience. In economic terms, they will find questionable value for their dollar throughout the system. Web-based shopping software, entrepreneurial niche players, rating services and third-party monitors will be quick to point out where value does and does not lie. Understanding how this is likely to unfold will suggest to current players where they will need to improve and innovate to prosper. Success also will demand new forms of marketing to create perceptions based on real value – lower cost, more convenience, demonstrable quality – the sort of message never before seen in this sector. Achieving this will require new investments but not necessarily in the sort of medical arms race of the past. In fact, capital costs may not be binding at all relative to requirements for new organizational and managerial skills.
As a result of attending this program, participants will:
- Identify the major drivers of perceived value in consumer choice
- Analyze risk and return for consumers, providers and payers
- Communicate a value proposition to different segments of the market
- Understand related changes in cash flows and financing requirements
Who Should Attend
This program is designed for mid- and upper-level managers or providers, health plans or employers who are involved in strategy decisions for their organization, practice, department, or program.
Level of Prior Knowledge in This Subject Area: None
Staff: J.B. Silvers, Ph.D., Case Western Reserve University, and Eric Berkowitz, Ph.D., University of Massachusetts at Amherst.
To register visit Healthcare Executive Education or contact James Van Doren, 216-368-5169.