EY's Health 2.0 Improves Health Care Sector across the Globe
NEW YORK, NY: EY announces the launch of Health 2.0, an innovative new model in health care consultancy. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity.
The move consolidates EY’s established health consultancy from across multiple sectors to meet the rapid and disruptive demands across the industry. The Health care sector around the world is experiencing a dramatically disruption due to unsustainable cost inflation and the rapid rise of digital health technologies. The company says that the future of health care systems “Health 2.0” will need approaches that are much more consumer-centric, outcome-driven, prevention-focused and cross-sector.
Health 2.0 requires partnering of patients, payers, providers, governments and life sciences companies in new ways. EY’s new practice will enable it to catalyze this change, drawing on its vast network to collaborate with a wide range of organizations.
Salient features of the model are:
Process Optimization: Can achieved through cost and workforce optimization, which EY is helping its clients with while streamlining operational processes and reduce inefficiencies. EY is able to do so by advising payers and providers on transforming their IT systems to enable strategies aligned to digital solutions and data protection. EY is also helping organizations across the health spectrum to use big data and analytics to measure outcomes and develop value-based incentives.
Going Digital: EY further advises its clients to devise business strategies and create new business models built for a digital world. This will help organizations make better use of their data collection while using powerful analytics; data capture and integration; IT systems and architecture transformations; cloud computing; and cyber security. Working closely with technology and telecommunications providers, EY develops mHealth applications which help to empower patients dealing with chronic conditions in their everyday lives.
Buttressing Customer Interaction: EY’s taking this one step further by helping health insurers rebuild the customer relationship as a long-term partnership rather than a short-term transaction. This involves reevaluating customer behaviors, deploying mHealth technologies and data analytics, and building consortia to combine different skills. EY's work in mHealth also empowers providers and patients to focus on prevention and manage diseases in real time to help ensure more long-term wellness in patients.
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