2014

Healthcare Consumers May Actually Win in 2014

DENVER, Dec. 20, 2013 /PRNewswire/ -- Will life for healthcare consumers actually be better following the Affordable Care Act tsunami? According to Ron Wince, president and general manager of Peppers & Rogers Group,  Customer Strategy Division of TeleTech (NASDAQ: TTEC), a management consulting firm recognized as a leading authority on customer-based strategies, 2014 will be the year that can actually benefit the healthcare consumer as healthcare "players" along the supply chain turn up their customer-centricity.

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"Payers, providers, technologists, and other service providers are all focused on linking with consumers to help them improve their personal healthcare…from diagnostics to wellness activities as a way to take health into their own hands," said Ron Wince.  "Technology and engagement about their health give patients more control than they have ever had in the past. And that is definitely a burning need during the evolution of a manageable insurance landscape."

The focus on care affects not just the consumer but also payers and providers who must implement strategies to satisfy new regulations under the Affordable Care Act and who will be vying to see which side will become the Amazon.com for healthcare.  Wince predicts the following to take shape in the New Year:

The Customer Matters

2013 was a landmark year for healthcare in America.  The first implementation of the Affordable Care Act aimed to transform the delivery of care to a patient-centric model.  In the upcoming year, reimbursements will be measured largely by the quality of care over quantity, which will ensure that payers and providers put the patient at the center of the care process.

The "Quantified Self" Realized

Technology will materialize quickly to meet the needs of the healthcare consumer. Mobile apps enable patients to track and monitor their own health, access care 24/7 or refill a prescription. 

On the analytics side, the influence of big data in healthcare is creating a trifecta. Patients will soon understand their genetic makeup and how it affects their health; insurers will make more informed judgments on how they assess cost; and providers will know the most effective ways to provide care.

Wellness Goes Corporate

CEOs will put more focus on programs that keep their employees out of doctors' offices and hospitals in 2014.  The new healthcare environment has business leaders more interested in taking proactive measures through company initiatives to lower their healthcare events and costs.

"The innovative, customer-centric approach in healthcare is bringing new players to the game who can offer patients a more efficient and effective consumer experience," Wince said.  "For example CVS, best known as a drugstore, has transformed healthcare services traditionally reserved for hospitals and insurance companies to retail locations through its MinuteClinic.  Now patients can access basic healthcare in over 600 locations nationwide.  Additionally, Walgreens has formed accountable care organizations with physicians groups to better meet patient needs."

ABOUT TELETECH

TeleTech, founded in 1982, is a leading global provider of data-driven, technology-enabled services that puts customer engagement at the core of business success. The Company offers an integrated platform that combines analytics, strategy, process, systems integration, technology and operations to simplify the delivery of the customer experience for Global 1000 clients and their customers. This holistic multichannel approach improves customer satisfaction, increases customer loyalty and drives long-term profitability and growth. From strategic consulting to operational execution, TeleTech's more than 39,000 employees deliver results for clients in the automotive, communications and media, financial services, government, healthcare, technology, transportation and retail industries. Through the TeleTech Community Foundation, the Company leverages its innovative leadership to ensure that students in underserved communities around the globe have access to the tools and support they need to maximize their educational outcomes. For additional information, please visit www.TeleTech.com.

Investor Contact
Paul Miller
303.397.8641

Media Contact
Jeanna Blatt
303.397.8507

SOURCE TeleTech



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