At CSA, we believe a brand’s ability to endure change is essential for sustained business growth. Our Enduring Brands Index measures brands for five essential traits that every brand must model to endure change: Self-Aware, Principled, Deliberate, Adaptive, and Focused. Each trait is then drilled down to a set of related dimensions, providing brands with a full array of specific, actionable metrics by which to assess—and improve—their ability to endure.
Innovations in the healthcare space are being driven by a desire for greater transparency. This desire is fueled by the ever-expanding access to information provided by new technology. With an increasingly sophisticated set of options that empower individuals to take a more active role in tracking and managing their health, combined with the availability of genomic data, patients can now create a “living picture” of their well-being.
From finding information on a healthcare provider to sharing their DNA, the veil that once shrouded medical professionals and medical services is being lifted. As individuals use this information and take more active and educated roles in their healthcare management, power is shifting to the consumer and away from designated providers.
As part of CSA’s Trend Reporting practice, our strategy team offers three key recommendations for healthcare brands seeking to capitalize on this new power dynamic:
Being open to innovation has the potential to result in better health outcomes for consumers, which is a key driver for all healthcare brands. Larger institutions, which may have ingrained ways of doing business, need to consider ways to become more agile in order to respond to consumer demands.
As previously held taboos are eroding in culture, there is an opportunity for health care brands to be more honest and direct in the way they communicate with their audiences. Being upfront about the services you offer, the costs and the impacts on the individual will go a long way in building trust with consumers.
The increased access to healthcare information has subsequently resulted in an increased desire for more information. As consumers have more information at their fingertips, there is a growing expectation that services and products be available at their fingertips as well. Healthcare brands need to consider how they can incorporate on-demand service or product models to meet these expectations.
To learn more about the CSA Enduring Brand Index, click here.