4 Charts: Health Data Explosion Powers CX Innovation

CX Transformation

Healthcare is leading a global data revolution that promises to improve the way people interact with the system and their own care. With connected health devices, more than 250 new health-related apps created each day¹ and the increasing volume of data collected during medical care, consumer health data, in particular, is exploding.

Despite healthcare historically having the smallest share of the global enterprise datasphere, it is, indeed, projected to grow the fastest, with a compound annual growth rate (CAGR) of 36% by 2025.²

The increasing volume of consumer health data makes data management a critical priority for health plan and health system executives. Leveraging such data will enable organizations to significantly improve the consumer experience (CX) they offer to members and patients by enabling personalized care that increases engagement and loyalty to advance business objectives — notably expanding market share, driving new revenue and reducing expenses.

C-suite executives looking to unlock such business opportunities should understand that consumers are demanding greater personalization so leveraging all the new data is critical to improving CX.

Chart depicting the 2018-2025 compound annual growth rate (CAGR) for data among industries

Consumers want health data to benefit them

An individual generates the equivalent of more than 300 million books of personal and health-related data in their lifetime³ — and they want this data to be used to their benefit. In fact, an Accenture survey found 83% of consumers are willing to share their data to create a more tailored experience.⁴

Through a personalized healthcare experience, organizations ensure touch points are hyper-relevant to the individual, improving the overall experience, engagement and satisfaction.

Chart: consumer expectations of healthcare data and CX

Better health data management is critical to improving CX

The challenge health plans and health systems face with leveraging consumer data is that the data is currently siloed. Despite now having the fastest growing data volume, healthcare has invested the least in IT to date and has instead invested in point solutions and electronic health records (EHRs). These systems are not standardized, prohibiting information from being shared between sources and yielding a less than satisfactory result for managing data.

Health plan and health system executives recognize that CX transformation requires better data management and leveraging that data to improve experiences — making the need for platform solutions more evident than ever.

Such interoperable platforms integrate point solutions and data sources into one location to create a centralized, standardized way of collecting, storing and analyzing data — and a more complete view of patient and member health. The infrastructure leverages artificial intelligence (AI) and machine learning (ML) models to analyze the data and enable hyper-personalized experiences that are engaging and meaningful for consumers.

Chart: Barriers to leveraging data for healthcare CX

The abundance of healthcare data will power CX innovation

As executives prioritize data management, CX innovation will undoubtedly follow. Health plans and health systems that choose to integrate point products and data sources into CX platforms with AI and ML capabilities will be able to leverage predictive healthcare analytics to drive proactive experiences.

By delivering omnichannel healthcare consumer experiences that guide patients and plan members throughout their unique health journeys, organizations can close gaps in care, improve consumer satisfaction and increase loyalty.

What’s next: leveraging big data in healthcare

Healthcare is entering an era where both data creation and utilization are forecasted to grow rapidly. That growth will create opportunities and obstacles for health plans and health systems to harness insights for improving outcomes for patients, members and populations as well as advancing enterprise business objectives that are key to long-term sustainability.

While some healthcare organizations are more prepared to be on the forefront of the world’s data expansion than others, all will need a solid CX transformation strategy to be successful in the age of big data.