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Industry Industry

Healthcare

The healthcare industry is facing unprecedented disruption leading to dramatic changes. Organisations 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
  • Compensation
  • Data breaches, cyber-crime, theft of patient information, the IoMT
  • Talent retention
  • Rising costs
  • Advancements in data, analytics and technology
  • Legislative reform

These disruptions pose threats, but many also offer opportunities for organisations to redefine themselves. In order to succeed in an era of disruption, an organisation requires the right people, risk and capital strategies.

Willis Towers Watson works with senior leadership at hospitals and health systems, research organisations, senior living / aged care facilities and a range of other allied health service providers to develop and implement strategies that will help bring long-term growth to your organisation. 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 support you to gain insights and put in place the right people strategies, policies and processes to ensure you attract, engage, reward and retain the critical talent you need to succeed. We understand that every health care organisation has distinctly different human capital needs, especially as they address the extraordinary changes in healthcare delivery.

Our Talent, Reward and HR offerings include:

  • Benefits administration and outsourcing
  • Change management
  • Compensation strategy and design
  • Executive compensation
  • Future of work
  • Health and benefits
  • Inclusion and diversity
  • Culture, employee experience and engagement surveys
  • Exit and joiner surveys
  • Employee Value Proposition
  • Mergers and acquisitions
  • Retirement
  • Talent
  • Total rewards
  • Wellbeing

Managing your risks

We also have the resources necessary to provide healthcare clients with the services you need including insurance broking, risk analytics, 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 recognise 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 health care organisations reduce their total cost of risk through a closely linked national and international network of specialists in our retail offices, supported by the broad expertise of our national and global healthcare placement specialists and service teams.

Examples of our risk management and insurance offerings include:

  • Analytics – loss analysis, limit validation, scenario mapping,
  • Aviation liability, aero-medical retrieval
  • Boardroom risk and directors & officers liability
  • Captives - feasibility studies and actuarial analysis
  • Construction risk, bonds
  • Cyber - loss prediction, limit validation, enterprise risk management
  • Digital tools and solutions
  • Employment practices liability
  • Forensic accounting and complex claims, strategic risk consulting
  • Life sciences, medical products, devices and clinical trials
  • M&A Warranties and Indemnities
  • Motor
  • Property and casualty
  • Professional indemnity / medical malpractice and general liability
  • Reviewing and valuing long service leave liabilities
  • Senior living / aged care professional and general liability
  • Statutory liability, workplace health and safety
  • Workplace risks – insurance and claims management, safety surveys and audits

Effective use of capital

Mounting cost pressures and industry consolidation are forcing many organisations to adopt new capital management practices to adapt to the challenges of disruption.

Whether your organisation is looking for a new capital management strategy or plans to acquire or merge, Willis Towers Watson's investment advisory services and M&A solutions’ teams are available to help. In an era of disruption, the Willis Towers Watson Health Care practice can help you address your people, risk and capital needs, so you can meet your goals and seize new opportunities.

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