The majority of health plan executives are focused on growth and have a favorable outlook for 2025, according to a Dec. 12 survey from the Deloitte Center for Health Solutions.
Between August and September 2024, Deloitte surveyed 40 C-suite executives from large health systems and 40 from health plans with revenues greater than $500 million to identify the top trends expected to affect business strategies in 2025.
Among respondents, 65% said developing growth strategies is the top priority for 2025, and 59% have a favorable outlook for the year ahead. A rise in revenues is expected by 69% respondents and a rise in profitability is expected by 71%.
Overall, large healthcare companies should be focused on consumer acquisition and retention, meeting the needs of their customers, investing in digital platforms, strengthening cybersecurity, and prioritizing health equity. Insurers should also prioritize working closer with employers; expanding alternative and virtual care sites and consumer-facing digital technologies; and enhancing operational efficiencies.
Sixty percent of insurance executives expect the adoption of digital technology to accelerate in 2025, while 53% expect that generative AI and other technologies like unlimited reality and digital twins will impact organizational strategies. Executives were asked to list the emerging trends they are tracking, and 58% identified AI and automation. Many health plans are already using generative AI for claims processing, underwriting, personalized treatment plans, fraud detection, and document extraction.
Among health plan respondents, 58% expect that recent and upcoming regulatory changes will influence organizational strategies in 2025, and 63% are already prioritizing compliance strategies to address these challenges.
For health plans to maintain the momentum with AI, they should consider the following actions: strengthening governance, prioritizing data quality, improving consumer trust and broadening technology use.