The healthcare industry is facing unprecedented disruption leading to dramatic changes. Organizations that can transform to address those challenges can turn disruption into opportunity. The Willis Towers Watson Healthcare practice can help you tackle these challenges and find opportunities to grow.
Some of the issues facing the industry include:
- Healthcare consumerism
- Industry consolidation
- Data breaches, cyber crime and theft of patient information
- Talent retention
- Rising costs
- Advancements in data and analytics
- Healthcare reform
These disruptions pose threats, but many also offer opportunities for organizations to redefine themselves. In order to succeed in an era of disruption, an organization requires the right people, risk and capital strategies.
Willis Towers Watson works with senior leadership at hospitals, health systems, physician groups, managed care organizations, senior living and other service providers to develop and implement strategies that will help bring long-term growth to your organization. We help clients thrive in an era of disruption by combining deep industry knowledge with extensive industry expertise.
A focus on your talent
In healthcare, your greatest asset is your talent. We can help you develop HR programs to attract and retain the critical talent you need to succeed.
We understand that every healthcare organization has distinctly different human capital needs, especially as they address the extraordinary changes in healthcare delivery.
Our HR offerings include:
- Benefits administration and outsourcing
- Change management
- Compensation strategy and design
- Executive compensation
- Future of work
- Health and benefits
- Inclusion and diversity
- Mergers and acquisitions
- Total rewards
Managing your risks
We also have the resources necessary to provide healthcare clients with the service you need in insurance brokerage, risk analytics, clinical risk management consulting and claims management.
In an industry where the human touch is so highly valued, we serve as a hands-on extension of your risk management department. We recognize that every healthcare provider and facility is unique in their risk financing and risk control needs, particularly as they confront the revolutionary changes in the industry.
We help healthcare organizations reduce total cost of risk through a closely linked national and international network of healthcare brokers in our retail offices, supported by the broad expertise of our national Healthcare practice consultants and the global placement capability of our dedicated healthcare brokers in London and Bermuda.
Our risk management offerings include:
- Healthcare property and casualty insurance
- Healthcare/hospital professional and general liability
- Nursing home professional and general liability
- Miscellaneous healthcare facility liability
- Managed care errors and omissions
- Managed care, provider, and employer stop-loss
- Medical products and clinical trial liability
- Directors & officers liability
- Employment practices liability
- Billing errors and omissions
- Network privacy/cyber risk liability
- Auto fleets
- Aviation liability
Effective use of capital
Mounting cost pressures and industry consolidation are forcing nonprofit healthcare organizations to adopt new capital management practices.
Larger organizations, with sizeable endowments, are better suited financially to adapt to the challenges of disruption. However, some smaller organizations lack the scale necessary, and instead are opting to merge or create new affiliations.
Whether your organization is looking for a new endowment management strategy or plans to merge, Willis Towers Watson's investment advisory services and M&A solutions are available to help.
In an era of disruption, the Willis Towers Watson Healthcare practice can help you address your people, risk and capital needs, so you can meet goals and seize new opportunities.