Health

At first mention of the internet of things (IoT) for healthcare, Fitbits, Jawbones and smart watches probably come to mind. These devices have received a strong dose of media hype, but they are just the tip of the iceberg in a growing infrastructure that is bringing meaningful connectivity to the business of health.

Healthcare, as an industry, is uniquely positioned to create powerful social innovation by virtue of the connections between patients, as well as within the community of doctors. The fact that there are almost no good examples of social healthcare brands cannot be written off purely to FDA regulations (or the lack thereof) in this area. The root of the issue is a lack of understanding of how social and technological innovations really affect culture, and how marketing needs to reflect it. A presence of social platforms is a far cry from an understanding of what it is to be a social brand.

2016 will be a year of firsts for players within healthcare as the industry adapts to the main forces driving the New Health Economy: the rise of consumerism, the focus on value, downward pressure on costs, technological innovation and the impact of new entrants.

Until recently, consumerism in the U.S. healthcare industry has moved slowly. However, several converging forces are likely to change the situation soon and result in a more dynamic market. Higher deductibles and copayments, greater transparency into provider performance and costs, and the rise of network narrowing and provider-led health plans are prodding patients to become more involved in healthcare decision making than ever before.

Responding to the billions of advertising dollars being spent to promote prescription products, physicians at the Interim Meeting of the American Medical Association (AMA) adopted new policy aimed at driving solutions to make prescription drugs more affordable.

Despite all the additional resources in navigators that were deployed in the last open enrollment and even though major health insurers quadrupled their Hispanic-dedicated media allocation from 3% in 2010 to 14% in 2014, a new analysis by ethnicity performed by Santiago Solutions Group (SSG) revealed that the Hispanic enrollment rate still trailed far behind that of any other group even in the best performing states.