The business case for change: encouraging transparency, competition and collaboration.
The Future of Private Healthcare Summit 2014 took place at The Royal Society of Medicine in London on June 23rd, 2014.
View the video of the event below.
The private healthcare market is already under pressure with both corporate buyers and individuals reducing their reliance on private health insurance. Consultants and specialists are being encouraged to reduce charges and insurers are pushing for ‘open referral’ to minimise treatment costs. Only the self-pay market is showing signs of growth.
Now, the Competition and Markets Authority has introduced measures to increase competition in the private healthcare market – the disposal of HCA hospitals in London, a crackdown on benefits and incentive schemes provided to referring clinicians, a drive for transparency in fees, hospital costs and outcomes, and the review of joint ventures on NHS Private Patient Units.
So, what does this all mean for the industry… and for the patient? Will this prompt change? Will the industry shrug it off and say ‘So what?’ The industry has to change… to re-model itself to face the challenges of a new era in private healthcare. Healthcare providers and insurers will need to re-think their business strategy and operational model. All will need to adapt to a new reality.
‘The Future of Private Healthcare Summit 2014’ is a timely and innovative summit designed to examine how the Competition Commission recommendations together with market, demographic and behavioural changes, financial pressures and the impact of new technologies will shape the future of private healthcare.
The agenda will explore the ways in which value can be created, captured, and sustained in this changing landscape. Service delivery and pricing models will need to change; and growth opportunities such as the self-pay market will be examined in closer detail.
Join the industry’s leaders at the Future of UK Private Healthcare Summit 2014 to find out what these changes mean for your healthcare business, and to learn how the UK’s leading providers are responding to the challenges ahead.