Health Insurance Market Dynamics & Commercial Model Implications Briefing
Health Insurance Providers are Refocusing their Go-to-Market Models
The rise of telehealth, AI-driven claims processing and personalized member experiences demands a rethink of distribution channels, engagement models and sales compensation plans. Rising healthcare costs necessitate innovative pricing models and cost-effective solutions. These cost pressures are forcing leaders to maximize their dollars and investments. Now, more than ever, is the opportune moment for health insurance organizations to revisit their go-to-market (GTM) strategies and commercial models.
Alexander Group Health Insurance research on market dynamics and commercial model implications reveals critical priorities that health insurance companies must embrace to achieve sustainable growth and stay competitive.
Key highlights include:
- Optimistic Outlook: Leaders project an average of 8% revenue growth in 2024, but strategies vary significantly based on customer segments.
- Price Pressures: Hospital executives continue to negotiate for reimbursement increases, with an average increase of 11.1%.
- Sales and Marketing Focus: two-thirds of companies plan to increase sales expenses, particularly for specialists and post-sales support. Additionally, 53% of marketing investments will target field marketing and content development.
- Stabilizing Turnover: After several years of fluctuation, employee turnover is expected to level off around 10%.
- Government Focus: Regulations regarding payor caps in Medicare as well as the rise is “duals” population is forcing immediate rethinking of roles and sales compensation plans.
Schedule a complimentary readout today to explore how changing market dynamics and priorities are impacting health insurance go-to-market strategy and commercial models.
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