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Anthem CEO Joseph Swedish wants to change how we think about healthcare

Insurers need to let go of business-to-business mindset, focus more on the individual

Health insurer CEOs have been making a point as of late to voice how their respective companies are revamping their image to appeal more to the individual.

At a recent Nashville Health Care Council event, Anthem CEO Joseph Swedish (pictured right) discussed the increasing need for insurers to stray away from the traditional mindset of being business-to-business firms and instead focus on connecting with both customers and providers, reported the Tennessean.

Thanks to various government and consumer-centric demands, Anthem will focus on the total cost of care management, building collaborative relationships with providers, and consumer focus in rolling out and fine-tuning products and services, Swedish added.

More than ever before, consumers are making conscious choices about their healthcare--from which insurance plans they choose to how and where they spend their monthly deductible. Meaning, insurers--as well as the industry as a whole--need to cater toward consumer demands.

Swedish mentioned how harnessing big data to better understand the relationships between patients and providers will play a role in changing how people think about healthcare--both in and outside of the doctor's office. Additionally, adopting a more retail-oriented mindset will help establish a trusting relationship with consumers.

"We believe we are moving into a retail world so that our customers ... are having to make choices...and so we have to be responsive," Swedish said. "We need to build loyalty on a brand they respect. That is retail behavior, not a traditional environment in a (business-to-business) world."

Elsewhere, Humana CEO Bruce Broussard echoed similar points regarding how he plans to improve the insurer's relationship with its members. By recognizing the trend of consumerization, Humana will provide members with tools to virtually tend to their health needs in order for the insurer to reach its latest goal--make the communities it serves 20 percent healthier by 2020, FierceHealthPayer previously reported. 

For more:
- here's the article

Related Articles:
Humana CEO Bruce Broussard: 'Health should be easy'
Anthem, insurers on board for value-based payments
Provider, payer communities react to HHS value-based payment initiative
Report: How consumers can prepare for the wave of consumerism