Tag: Accenture Health

Why Patient Experience Is Key To Post-COVID Growth

By Jean-Pierre Stephan, managing director, Accenture Health.

 Jean-Pierre Stephan

COVID-19 has disrupted industries, and nowhere is it more apparent than in healthcare. Given the urgency of addressing the pandemic – from ensuring new protocols are in place amidst the pandemic, prioritizing capacity and delivering healthcare services in new manners – the concept of the “patient experience” may have been put on the backburner for many in the industry. That is a mistake.

Now, moreso than ever, is the time to put the patient experience front and center. People are re-evaluating how they consume healthcare: asking themselves – is this the safest way for me to handle my medical care? Is it the best way?  Can we leverage more virtual and digital solutions for care?

Indeed, a new report found those health systems that evolve to meet patient needs, amidst the pandemic, are best poised to not only retain their current patient base but also increase it. Healthcare providers could potentially increase their revenues by 5% to 10% of their pre-COVID levels within 12 months. For a $5 billion health system, this equals between $250 million and $500 million in additional annual revenues. Think about it – people have put off many non-urgent medical issues that they will eventually need to address. But it doesn’t mean that they will naturally return to their previous healthcare provider.

According to this report, two out of three patients are likely to switch to a new provider if their expectations for how the healthcare provider manages COVID-19 are not met. To avoid losses and position for growth, providers should take the following approach to improve patient experience.

  1. Embrace change

Providers should listen to a patient’s unique concerns to better understand their communities. This allows real-time response to fears and confusion or reinforcement of actionable information. For example, if there is a need for additional counsel—such as symptoms of COVID-19 compared to symptoms of other illnesses—listening will present an opportunity to quickly provide necessary information. Alternatively, if something is not going as planned, community feedback gives healthcare providers an advantage to get ahead of potential problems (and their solutions). Leveraging digital tools to stay connected will not only help healthcare providers during this pandemic crisis, but could be used in a post-COVID world as a way to stay connected.

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Accenture: Global Market for Electronic Health Records Expected to Reach $22.3 Billion by the End of 2015

According to new research from Accenture, despite slower-than-expected growth, the global market for electronic health records (EHR) is estimated to reach $22.3 billion by the end of 2015, with the North American market projected to account for $10.1 billion or 47 percent, released today at the annual HIMSS Conference in Orlando.

According to Accenture, although the worldwide EHR market is projected to grow at 5.5 percent annually through 2015, Accenture’s previous research shows that would represent a slowdown from roughly 9 percent growth during 2010. Despite the slower pace of growth globally, the combined EHR market in North and South America (The Americas) is expected to reach $11.1 billion by the end of 2015, compared to an estimated $4 billion in the Asia Pacific region and $7.1 billion in Europe, the Middle East and Africa (EMEA).

“Although the market is growing, the ability of healthcare leaders to achieve sustained outcomes and proven returns on their investments poses a significant challenge to the adoption of electronic health records,” said Kaveh Safavi, global managing director of Accenture Health. “However, as market needs continue to change, we’re beginning to see innovative solutions emerge that can better adapt and scale electronic health records to meet the needs of specific patient populations as well as the business needs of health systems.”

Driven by consolidation and the federal Meaningful Use guidelines, the United States is expected to remain the largest EHR market in the Americas and globally, with a projected annual growth rate of 7.1 percent and will total $9.3 billion by the end of 2015. Along with increasing U.S. market demand, Brazil, projected at $0.4 billion, may represent the greatest relative growth opportunity as a country-wide federal initiative, the Unified Health System, is expected to drive 9.7 percent annual growth over the next several years.

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