The Malta Independent 28 September 2020, Monday

EY’s new thinking on health

Thursday, 13 August 2015, 11:41 Last update: about 6 years ago

►           The move consolidates EY's established health consultancy from across multiple sectors to meet the rapid and disruptive demands across the industry

►           Practice will collaborate with clients on improving efficiencies, catalyzing new digital health technologies and helping to ensure wellness and prevention

 

Health care around the world is being dramatically disrupted by unsustainable cost inflation and the rapid rise of digital health technologies. The future of health care systems - or "Health 2.0" - will need approaches that are much more consumer-centric, outcomes-driven, prevention-focused and cross-sector.

Today, EY announces the launch of an innovative new model in health care consultancy. The approach consolidates its established health care teams that currently sit across other related sectors and geographies, including Malta, and brings together insights from multiple sectors - technology, telecommunications, consumer products and more - to develop leading solutions for the challenges of Health 2.0.

The move positions EY to transform health care delivery and help clients develop new business models to better compete in a fast-changing and ever-evolving world. EY's practice is working with organizations to manage costs and improve efficiency. It is helping clients leverage technology to deliver digital health solutions and use big data and analytics to improve health services management and health outcomes.

Health 2.0 requires patients, payers, providers, governments and life sciences companies to partner in new ways. EY's new practice will catalyze this change, drawing on its vast network to collaborate with a wide range of organizations.

Guiding organizations to Health 2.0

Health care systems across the world are under enormous pressure to reduce skyrocketing costs. At the same time, they are being asked to improve service delivery and health outcomes, expand access and also integrate the latest technologies seamlessly. To respond to these and other future demands in this new landscape, EY's health consultancy practice will utilize its internationally recognized industry professionals to facilitate innovation, decision-making and speed of execution to help its clients successfully navigate this new terrain.

EY's health consultancy practice provides core services including:

             Operating efficiently: Through cost and workforce optimization, EY helps its clients streamline operational processes and reduce inefficiencies. It advises payers and providers on transforming their IT systems to enable strategies aligned to digital solutions and data protection. EY also helps organizations across the health spectrum use big data and analytics to measure outcomes and develop value-based incentives.

             Digital: EY advises its clients to devise business strategies and create new business models that are built for a digital world. It helps organizations make sense of its data collection through the use of powerful analytics; data capture and integration; IT systems and architecture transformations; cloud computing; and cyber security. Working with highly respected technology and telecommunications providers, EY develops mHealth applications to empower patients who are dealing with chronic conditions in their everyday lives.

             Wellness: EY helps health insurers re-orient the customer relationship as a long-term partnership rather than a short-term transaction. This involves reevaluating customer behaviors, deploying mHealth technologies and data analytics, and building consortia to combine different skills. EY's work in mHealth also empowers providers and patients to focus on prevention and manage diseases in real time to help ensure more long-term wellness in patients.

EY's health consultancy practice leadership

EY will be mobilizing a worldwide team of more than 4,000 professionals focused on health care across the world. These practitioners come from a range of backgrounds including chief executives of departments of health, clinicians, hospital administrators, accountants and policy advisors who will provide the ability to rapidly share leading practices and solutions across markets and bring diverse delivery teams to meet the needs of EY's clients.

In Malta, health consultancy services are provided through EY's Transaction Advisory Services, led by Ronald Attard, EY's Country Managing Partner. These services are co-ordinated locally by Chris Meilak, Senior Manager, who is both an economist and accountant by profession, and who has previously worked at the Health Ministry.

Chris Meilak concludes: "Companies from sectors once far removed from health care are entering the health business. Telecommunications firms are developing approaches to empower patients in managing their health. Information technology companies are entering the fray to tackle the challenge of data analytics. These trends across the industry are creating a ripple effect that will have a lasting legacy for generations to come. EY's new approach to health care consultancy demonstrates that the industry requires a fundamentally different approach for creating new opportunities for cross-sector partnering. It's time to re-imagine health."

 


 

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