A successful business must be defined not by what it can produce, but by what consumers want. What does this mean in the context of health care? Health systems should think about broadening their product offerings, says Kevin Volpp, Director of the Center for Health Incentives and Behavioral Economics at the University of Pennsylvania. Doctors and hospitals excel at providing health services but do less to improve health, per se.
Volpp discusses five focal points the health system of the future needs to address: (1) provider payment focused on value, (2) benefit designs focused on value, (3) improving choice environments, (4) meeting patients (consumers) where they are through a combination of technology and engagement strategies, and (5) incentives for health behavior.
From the NEJM Catalyst event Patient Engagement: Behavioral Strategies for Better Health at the University of Pennsylvania, February 25, 2016.