March 22, 2017

Sedgwick Forecasts 16 Industry Trends to Watch in 2016

Memphis, TN – Sedgwick recently announced that it has published “The scene for 2016,” forecasting major industry trends employers and risk management professionals should watch this year.

“Taking care of people is at the heart of everything we do at Sedgwick – from ensuring injured and ill workers have access to the right health care resources to meeting the needs of clients, consumers and the industry at large,” said David A. North, president and CEO of Sedgwick. “We will continue to elevate the discussion, sharing information and strategies centered on caring for people; making a difference through easily accessible, streamlined risk management, benefit and productivity solutions; and utilizing advanced technology.

“The scene for 2016 list illustrates how taking care of the people served by our industry remains critical to improving results for everyone,” North said. “We believe that these evolving areas – employee health and wellness, technology for improving care and safety, legislative developments affecting claim costs and access to care, market challenges and emerging risks – will be significant, and we join other industry experts in closely monitoring and exploring them throughout the year.”

Focusing on employee health and wellness – People are the heart and soul of each organization and as such prioritizing employee health and wellness will be critical to the success of employers.

  • 1. Patient advocacy
  • 2. Responsive model of care
  • 3. Pharmacy management and patient safety
  • 4. Mental health risks

Leveraging smarter technology – Advancements in technology will continue to impact and improve how people communicate, stay connected, and use data to change behaviors and improve results.

  • 5. Prescriptive analytics
  • 6. Autonomous technology
  • 7. Connected health
  • 8. Cutting-edge technology

Responding to legislative changes – The people in power and the laws they enact will significantly affect the industry in 2016 and beyond.

  • 9. Shift in the political landscape
  • 10. Complexity in state workers’ compensation systems
  • 11. Affordable Care Act (ACA)
  • 12. Employment laws

Managing market challenges and emerging risks – Individuals and organizations will continue to adapt to market changes and manage challenges from many sources.

  • 13. Global supply chain
  • 14. Brand and reputational challenges
  • 15. Workforce demographics
  • 16. Sharing economy

For more on the scene for 2016 list and Sedgwick’s industry thought leadership, visit sedgwick.com/scenefor2016 and follow the Sedgwick blog Connection.

Source: Sedgwick

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