Exploring the Role of Consumer Analytics in Today’s Top Healthcare Trends

Exploring the Role of Consumer Analytics in Today’s Top Healthcare Trends

In 2023, healthcare is expected to continue to see advancements in technology, and as technology continues to advance, the use of consumer analytics in healthcare is expected to become even more prevalent. 

Specifically, telemedicine, personalized medicine, value-based care, and artificial intelligence are all areas that are expected to see significant growth and development in the coming years. Together, with the power of consumer analytics, these trends are expected to lead to a more efficient, effective, and personalized healthcare system for patients. 

Telemedicine 

Telemedicine, the delivery of healthcare services remotely through technology, has seen a significant rise in recent years. The COVID-19 pandemic has accelerated this trend as social distancing measures and lockdowns have made in-person visits difficult.  

This digital form of care allows patients to consult with their healthcare providers remotely, through video conferencing or phone calls, and can also include remote monitoring of vital signs and other health data. These benefits improve not only the continuity of care but can also make healthcare more accessible, particularly in rural or underserved areas. Additionally, telemedicine can help reduce healthcare costs and increase patient satisfaction. With so many great benefits, the question is – how do healthcare providers implement or increase the adoption of telehealth services? The answer – consumer analytics.  

Consumer analytics can greatly aid healthcare providers in implementing and/or improving their telehealth services by providing insights on patient needs, preferences, and behaviors. By understanding which patients are most likely to use telemedicine, providers can tailor their telemedicine offerings to better meet those needs. Lastly, consumer analytics can help providers identify and address any barriers to telemedicine adoption, such as lack of technology access or lack of trust in the technology. 

Personalized Medicine  

People crave personalization. From personalized recommendations on Netflix, to suggested playlists on Spotify, everyone desires products and services catered to them specifically. Healthcare is no exception, which is why it is critical for organizations to understand their patients on a deeper level.  

Consumer analytics can be used to identify patterns in patient data that may inform the development of personalized treatment plans. For example, demographic and psychographic data can help you understand your patients by providing insight into factors that may influence an individual's health behaviors and outcomes. This is the first step in developing personalized healthcare. Once you understand your patients, you can better identify the most effective treatment options for individual patients .  

Demographic information, such as age, gender, income, and education, can inform an organization on their population's access to healthcare and resources, as well as their likelihood of certain health conditions. While demographic information on patients and the surrounding population is essential in healthcare, psychographic data is equally as important. Psychographic information, such as values, attitudes, and lifestyle choices, can provide insight into an individual's health behaviors and preferences, such as their likelihood of adhering to a treatment plan or their interest in alternative therapies.  

By considering both demographic and psychographic information, healthcare providers can tailor treatment plans and communication strategies to better meet the unique needs and preferences of each individual, leading to improved health outcomes. 

Value-Based Care 

Value-based care is a healthcare delivery model in which providers are paid for the quality and outcomes of care they provide, rather than the quantity of services they deliver. The goal of value-based care is to improve the overall health of populations, reduce healthcare costs, and improve patient experiences. Consumer analytics can play a critical role in achieving these goals by providing insights into patient behavior and preferences, identifying opportunities to improve care delivery, and measuring the effectiveness of different interventions. 

By analyzing data on patient demographics, healthcare utilization, and other factors, healthcare organizations can develop targeted strategies to improve patient outcomes and reduce costs. For example, consumer analytics can be used to identify patterns in patient behavior that may indicate the need for preventative care, or to identify opportunities to streamline care delivery processes. 

Consumer analytics can also be used to measure the demand of different interventions and to identify areas where additional resources may be needed. This can help healthcare organizations to optimize their resources and focus on the areas where they can have the greatest impact on patient outcomes. 

Overall, the use of consumer analytics can help healthcare organizations to achieve their value-based care goals by providing insights into patient needs and behaviors, and by helping to identify opportunities to improve care delivery and reduce costs. 

Artificial Intelligence (AI) 

Next-generation consumer experiences like the metaverse and cryptocurrencies have been generating some buzz in recent years, and AI will be essential for these experiences and others like them. But what about healthcare?  

Defined simply, AI involves the use of computer algorithms to perform tasks that normally require human intelligence, such as decision-making and pattern recognition. In healthcare, AI can be used in a variety of applications, including the analysis of medical images, the identification of patterns in patient data, and the development of personalized treatment plans. 

When AI and predictive consumer analytics are paired together in healthcare, they can provide even greater insights and provide advanced decision-making by analyzing large amounts of data to identify patterns and trends that may not be immediately apparent to humans. For example, consumer analytics can be used to support the development and implementation of AI and machine learning in healthcare. By leveraging data on patient demographics and psychographics, healthcare utilization, and other factors, consumer analytics can be used to train AI algorithms to identify patterns and make predictions that can be applied to personalized medicine and value-based care. 

Bottom Line: 

Healthcare trends in 2023 are expected to continue to evolve and adapt to the changing needs of patients and providers, and these trends, paired with the insights of consumer analytics, will undoubtedly shape the future of healthcare and improve the overall quality of care for patients. 

Journey Awareness Persona C-Suite/Finance Strategy/Facilities Healthcare