Scenarios — Growth
It is boom time in the global health economy. (Health care consumes 24% of the GDP.) Major breakthroughs for treating chronic diseases are reached in biotech and medicine, powered in part by improved IT. These breakthroughs did not reduce costs, however. In the growing number of states where insurance coverage is mandated, this explosion is heightened by the creation of millions of fully insured customers. New jobs in health care are materializing every day. And with the oldest baby boomers now in their mid-70s, millions more Americans have entered the period of life where their utilization of health care services is more intense and costly. As a result, health and wellness categories continue to be one of the more profitable sectors of the economy, even at the expense of others. People are truly health consumers in this future, spending more on health products and services, at whatever tier they can afford. Organizations continue to struggle to balance the costs of health and health care with their profitability, while others chart new strategic directions to remain competitive in the global health economy.
> View the scenario video
Questions to consider as you view the video
Is the Growth Scenario plausible?
To what degree do you believe each of the scenario characteristics are plausible?
- Percentage of GDP grows from 17% in 2010 to 24% in 2020.
- Life expectancy in 2006 was 76.1 years. 2020 life expectancy is 85.1 years for anyone with some college education.
- Health Mart… People are truly healthcare consumers.
- There are major breakthroughs in treating chronic disease reached through biotech, genetics, and IT solutions.
- Breakthroughs improve outcomes, but do not reduce costs.
- An increasing number of states with mandated health insurance coverage through a patchwork of private and public insurance options.
- As baby boomers age, health and wellness becomes increasingly important... Pine Center and Spa
- Organizations continue to struggle to balance costs of health and healthcare.