Oliver Wyman Health

Our 12th annual Oliver Wyman Health Innovation Summit kicks off on September 16! This year we'll gather innovators and incumbents under the theme “Working In Concert: Dissonance And Harmony” to work towards a healthcare system that truly serves everyone. View the full agenda > https://owy.mn/3SMpsKs #OWHIC #OWHealth

In light of the significant impact that cyberattacks can have on an organization's operations, finances, and reputation, it is crucial for boards to possess a strong understanding of cyber resilience. This awareness and insight enable boards to confidently and swiftly deploy the appropriate posture, practices, and playbooks to mitigate cyber risks. We outline how to minimize the impact of a cyberattack > https://owy.mn/4clMQ8R #OWHealth #healthcare #CyberRisk

Health insurance companies need to enhance their performance and increase their market share to revive the employer-sponsored market. As Gen Z is expected to surpass baby boomers in the workforce this year, and millennials contribute to a more diverse workforce, it is crucial to adopt a segmented yet comprehensive approach to benefits that integrates healthcare with non-medical services. In this article, we outline 10 crucial steps that leaders can take to ensure the resilience of their group business line amid present challenges and to prosper in the future > https://owy.mn/4dmTPj8 #OWHealth

To sustain the vital role they play for their communities, health systems will need to reduce costs by 15-20% over the next five years. Leadership teams often focus on incremental, in-year changes to make the budget work, at the expense of higher impact opportunities. Here, we identify five levers that leaders can use to achieve annual cost reductions of 5% to 7% and initiate larger cost savings > https://owy.mn/4dh3tUa #OWHealth #healthcare #CostSavings

We’ve identified four dimensions where healthcare will evolve substantially by 2035, each building on underlying trends and dynamics that are evident today and that will lead to an industry that looks quite different in the future. 1️⃣ Technology innovation 2️⃣ Improving processes across the care continuum 3️⃣ Extending the reach of care processes through connected technology 4️⃣ Scaling personalization of health behavior guidance in real-time Read more > https://owy.mn/4dbSA62 #OWHealth #healthcare #health

Retail health clinics were initially expected to disrupt the healthcare industry by offering affordable and convenient care. After more than 20 years, they continue to face challenges in fulfilling their promise, struggling with financials and generating enough merchandise volume. Still, retail health clinics can play a crucial role in healthcare by adopting a holistic approach. We outline five areas of focus > https://owy.mn/4d2XiDf #OWHealth

Each quarter Oliver Wyman Actuarial provides insights into the financial performance and earnings of prominent insurance companies that are publicly traded. The latest report includes a comprehensive analysis of the reported statutory financial experience for health insurers throughout 2023, covering trends in medical loss ratio (MLR) rebates, financial statements for public insurance companies in the first quarter of 2024, and more. Read here > https://owy.mn/4caRHtc #OWHealth #HealthInsurance #HealthInsurers

A confluence of market forces, technological advancements, and evolving market dynamics are forcing health plans to rethink their strategies. We see five areas to focus on: 1️⃣ Specialization 2️⃣ Managing rising drug costs 3️⃣ Embracing consumer-driven market 4️⃣ Strategic adoption of new technologies 5️⃣ Considering economies of scope Read more > https://owy.mn/4frDiMk #OWHealth #healthcare #healthplan

The ACA preventive services mandate is still in effect for most non-grandfathered group health plans. However, there are exceptions for specific plaintiffs in the Braidwood Management, Inc. et al. v. Becerra case. The Fifth Circuit Court of Appeals recently decided to halt the nationwide injunction temporarily and determined that the USPSTF recommendations were invalid for the specific plaintiffs. Despite the ongoing litigation, Mercer surveyed employers about their most likely response if they were no longer required to provide ACA-mandated preventive services without cost-sharing. Read the survey results here > https://owy.mn/3zSwiaV #OWHealth

Health systems are currently facing significant financial challenges, with 40% of hospitals still operating at a loss. Rating agencies recognize the year 2024 as a crucial period for hospitals to rebound from the financial blow dealt by the pandemic and tackle ongoing operational struggles, including the rise in drug and labor costs and the effects of Medicaid redetermination. Although the specific areas of focus may differ for each organization, these eight key realities demand the attention of health system executives and carry important implications for their leadership > https://owy.mn/3y5tR4c #OWHealth