Naturally as healthcare moves into a more digital space, more tech is needed to accomplish every day tasks. This opens up a new market that is largely attractive to Big Tech. However, the success of this move varies from company to company. Some companies were able to organically integrate into the world of healthcare while others forced their way in. This all comes down to their mission statement and if they were able to adapt it properly. With Capital One being one of the companies supporting this tech move, we sat down with Don Hooker, Analyst at Capital One Healthcare, to learn more about what he’s seeing in the industry with big tech, customer trends, workforce, automation, and value based care.
Being a financial company, Capital One was able to organically move into healthcare by focusing on the finances. With their unique background, Capital One Healthcare is able to have a deeper understanding on the financial needs and decisions of healthcare organizations. Thus, making them a great partner to have help your organization know the best path forward.
This mindset extends not just to healthcare organizations, but to themselves and other tech companies trying to break into healthcare. “The pattern of what we’ve seen over and over again is that there is a tendency for folks to underestimate how uniquely elusive financial success in healthcare can be for companies that are not truly native to healthcare.” said Don Hooker. Because unlike other business transactions, you can’t raise the price of things in healthcare if you need to increase your profit margins. Thus, companies need to get creative on where they make changes in order to not go bankrupt.
For more information, watch the full interview down below.
Learn more about Capital One: https://www.capitalone.com/commercial/industry-expertise/healthcare/
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