Health care industry leaders from across the state gathered recently at the Fifth Annual Broad and Cassel Health Forum in Fort Lauderdale. Experts provided a look at the state of the industry, where it’s headed and how providers and employers can plan for the dramatic changes that are sure to continue in the coming years.“The channels through which patients get to providers – the networks we’ve known for so long – those channels are changing,” said Fred Bayon, spokesperson for The Advisory Board Company, a global research, technology, and consulting firm. “They are being upended.”
During his opening keynote, Bayon went on to highlight the many pressures faced in the health care marketplace by providers and employers as well as the rise of coverage expansion and retail individualized insurance.
“It’s a retail market,” Bayon said. “There are more buyers, more products, and now, there’s a way for individuals to make apples-to-apples comparisons when it comes to shopping for providers. As a result, we are seeing transparency through pricing. That’s a very different world than the world most providers see themselves in, but this is the world that is coming on line.”
To be successful, he noted, organizations have to make an investment in data analytics – a topic of discussion during Paul DeMuro’s keynote address.
“Data analytics are needed to take the health care world by storm, said DeMuro, Of Counsel in Broad and Cassel’s Fort Lauderdale office. “We can not have an effective pay-for-value, quality system without data analytics.”
