Three titans are about to take away your healthcare business.
Warren Buffett, Jamie Dimon, and Jeff Bezos are the biggest names in business today. Their companies earn billions. So why are these high net worth guys getting into the healthcare business? A business they admit they know nothing about and have never been in? The answer is simple. They see a huge opportunity that if successful, can bring them great profit and even greater PR.
They’re already rich, but your personal brand can get even richer.
Let’s face it, these guys know how to turnaround business. And healthcare can use a facelift. Does anybody love his or her healthcare provider? We know that Amazon and Berkshire Hathaway are on the list of the most admired companies and not one healthcare company makes the top ten. Today healthcare is a mess. Every state has its rules. Take Aetna for example. Their healthcare business is not one business but 50 different businesses all operating according to different regulations in different states. Aetna may have great products, but with all that chaos, cutting through 50 states of clutter is a challenge for every marketer.
Congress has added to the confusion. Obamacare is dying, the individual mandate will be no more and customers are fearful.
Enter Buffett et al. Business champions that go above the clutter because of who they are. CNBC reported, “Berkshire Hathaway CEO, Amazon’s Jeff Bezos and J.P. Morgan Chase’s Jamie Dimon announced in January they would partner to cut health-care costs and improve services for their U.S. employees. On Monday, Buffett repeated his now-famous line that health-care spending is a “tapeworm on the economic system.”
Today healthcare occupies 18% of the economy. It is the biggest business in America. Yet who revers them, hardly anyone. This this is not lost on Buffett, Bezos and Dimon. They see weakness. What can healthcare do? Well for one they can look to create relevant, interesting and consumer-centric messaging on social media. The smartphone today is the smart marketer.
Here are some suggestions from referralmd: (www.getreferralmd.com)
1. More than 40% of consumers say that information found via social media affects the way they deal with their health. (source: Mediabistro)
2. 18 to 24-year-olds are more than 2x as likely than 45 to 54-year-olds to use social media for health-related discussions. (source: Mediabistro)
3. 90% of respondents from 18 to 24 years of age said they would trust medical information shared by others on their social media networks. (source: Search Engine Watch)
4. 19% of smartphone owners have at least one health app on their phone. Exercise, diet and weight apps are the most popular types. (source: Demi & Cooper Advertising and DC Interactive Group
There are many more but ways for healthcare companies to improve their image. And they need to start now. Amazon is consuming retail. Berkshire Hathaway has a huge insurance franchise. JP Morgan Chase
is the most admired bank in the world. These three are in the market to hire a CEO to change healthcare. It’s time for healthcare companies to build a moat that these three titans can’t cross.
Chief Creative Officer
the damien harvey group