Change Healthcare Releases the 2020 Industry Pulse Report
10 Februar 2020 - 3:00PM
Business Wire
10th annual polling of U.S. healthcare leaders
reveals both divergent and aligned perspectives on critical topics
including AI, consumerism, interoperability, and value-based
care
Today Change Healthcare (Nasdaq: CHNG) and the HealthCare
Executive Group (HCEG) published the 2020 Industry Pulse Report, an
annual study that takes the pulse of healthcare executives
nationwide, and reports on the challenges, issues, and
opportunities they see in the coming year for healthcare.
Conducted by market research and strategy firm InsightDynamo,
and commissioned by Change Healthcare and the HealthCare Executive
Group, this year’s Industry Pulse Report exposes widely divergent
readiness and perspectives among payers and providers around
value-based care, consumerism, interoperability, and more.
The report also reveals where payers and providers are
well-aligned, such as around Social Determinants of Health,
specific tactics to improve consumer engagement, and the immense
potential for artificial intelligence (AI) and machine learning
(ML) to improve healthcare. Also, for the first time in its
decade-long history, Industry Pulse Report researchers asked
participants what direction they anticipate healthcare will take
after the 2020 election, regardless of how the fortunes of the
political parties play out.
“This year’s report provides a fascinating look at where
healthcare is in 2020,” said David Gallegos, SVP, Consulting
Services, at Change Healthcare. “In our 10 years of fielding this
research, I don’t think we’ve seen healthcare industry leaders so
polarized on some strategic issues and so tightly aligned on
others. These insights can help foster a dialogue between payers
and providers about their priorities, driving collaboration to
advance solutions on those issues in the year ahead.”
The 10th Annual Industry Pulse Report draws on responses from
445 healthcare leaders nationally from payer, provider, and
third-party vendor organizations, and interviewed between October
and December 2019. Of the respondents, 24% are C-suite, 15% are
VP/SVP, and over 40% hold director titles.
Key takeaways from the 2020 Industry Pulse Report include:
- Payers report being much farther along the path to
value-based care than providers, with nearly two-thirds (62%)
indicating their organizations are using alternative payment
models, and 9% using full capitation. Meanwhile, less than half
(43%) of providers say they use alternative payment models, and a
mere 2% report full capitation in use. Additionally, payers (25%)
are much more likely than providers (8%) to cite IT Infrastructure
as a key barrier to implementing value-based care.
- Only 18% of providers and 24% of payers say they have a
“full consumer-centric strategy” in place. Moreover, 14% of
providers say they have “no consumer-centric strategy,” whereas
100% of payers report having a strategy or one in development.
Consumerization efforts overall are mostly in the early stages,
with 34% of providers and 43% of payers calling their strategy
“nascent,” and just 36% of providers and 33% of payers
characterizing their efforts as “intermediate.” Payers and
providers also disagree on who is best positioned to provide cost
and quality data to consumers, both believing they are the best
choice.
- Payers and providers are divided on what will make
healthcare interoperability happen. More than twice as many
providers (23%) than payers (11%) see consumer demand as driving
interoperability, and nearly 40% of the C-suite believe
interoperability will materialize when consumers insist on it.
Payers, however, are nearly twice as likely (36%) than providers
(20%) to cite regulatory changes as fueling interoperability, while
18% of providers think physician-driven initiatives are a key
driver compared to just 2% of payers.
- Payers and providers are aligned on the benefits of AI and
ML investments. Respondents say smart technologies are having a
positive impact on operations by improving health system efficiency
(payers 38%, providers 56%) and reducing costs (payers 28%,
providers 42%). AI and machine learning are also improving consumer
engagement, with 36% of payers and 39% of providers reporting a
payoff.
- Regardless of who wins the White House in 2020, payers and
providers don’t expect disruptive change to the U.S. healthcare
system. The majority of C-suite respondents (39%) believe there
will be no significant changes to the U.S. healthcare system
following the 2020 elections, and a majority (28%) of all
respondents agree. The highest percentage of providers (31%)
predict a continued unwinding of the Affordable Care Act (ACA),
while 26% of payers expect the ACA to be strengthened. Just 17% of
respondents expect to see a public option take hold, and only 3%
predict America will move toward a single-payer, “Medicare for all”
system post-election.
“The 2020 Industry Pulse is the most powerful and complete
insight into differing Industry perspectives that we have had in 10
years,” said Ferris Taylor, executive director of the HealthCare
Executive Group, a 32-year old non-profit association of healthcare
leaders. “It should facilitate a much greater discussion and
collaboration across all segments of healthcare.”
The full 41-page 2020 Industry Pulse Report expands on all of
the above insights and more; and is available at
https://inspire.changehealthcare.com/2020-Industry-Pulse-Results.
Registration is also open for “Industry Pulse Check: How Providers
and Payers See 2020 Healthcare Trends,” a webinar featuring
exclusive data not published in this announcement or the 2020
Industry Pulse Report. The webinar will feature live commentary,
including registrant Q&A with analysts from the HealthCare
Executive Group and Change Healthcare.
For more information on Change Healthcare, please visit our
website, hear from our experts at Viewpoints; Follow us on Twitter;
Like us on Facebook; Connect with us on LinkedIn; and Subscribe to
us on Libsyn, Apple Podcasts, Google Podcasts, and YouTube.
About HealthCare Executive Group
The HealthCare Executive Group is a national network of
healthcare executives and thought leaders who come together as a
group to navigate the strategic and tactical issues facing their
organizations. HCEG provides a platform for its members and
partners to promote healthcare innovation, technology, and the
development of lifelong professional relationships. Originally
chartered as the Managed Care Executive Group (MCEG), the
HealthCare Executive Group (HCEG), was founded in 1988 by
executives looking for a forum where the open exchange of ideas,
opportunities for action, collaboration and transformational
dialogue could freely ensue, especially with respect to the
annually identified HCEG Top 10 opportunities, challenges and
issues all members face. For more information and the 2020 HCEG Top
10, visit our website, follow HCEG on Twitter at @HCExecGroup and
connect with us on LinkedIn.
About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent
healthcare technology company that provides data and
analytics-driven solutions to improve clinical, financial, and
patient engagement outcomes in the U.S. healthcare system. We are a
key catalyst of a value-based healthcare system, accelerating the
journey toward improved lives and healthier communities. Learn more
at changehealthcare.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200210005115/en/
Kerry Kelly Vice President External Communications Change
Healthcare 339-236-2756 kerry.kelly@changehealthcare.com
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