• Nikki Cohn-Byrd

The Convergence of Healthcare and Wellness is the Fast Track to Solving Today's Health Issues

This week's wellness article is an testament to the mission here at Welliance, and an encouraging note to craft and share your own message, as consumer decisions are driven by purpose and connection with brands.

The market cap number of the wellness industry is thrown around quite a bit. This industry (at around $4.5 trillion) is constantly innovating, growing, and bringing new products and services to the market to begin attracting more current, and new, audiences.

However, according to new recent studies, the largest wellness cognizant and focused generation (which is becoming the largest) is also seeming to get sicker and perishing quickly. Furthermore, the state of the economy and new culture around work is drawing more millennials to the competitive 'work more for less pay' grind type culture. This lessens disposable income, thus less and less millennials are opting to be covered by health insurance.

The healthcare market is a different animal. With regulations always changing, the system is traditionally thought to be convoluted and ineffective. More of a 'sick-care' model. Regardless, it's hitting near $3.9 trillion in cap.

The initial problem recognized by founder Nikki Cohn-Byrd was this, with two mega-industries both operating in their words 'to improve the lives and health' of America's citizens, there's an obvious gap somewhere, right? The largest consumer group and population ins the US is getting sicker amongst the growth and innovation of two industries whose sole purpose is to prevent such happenings?

The disconnect?..The wellness and healthcare sectors are disintegrated. Thus, they're operating independently of each other, while in reality, and what our saving grace will be, is a cooperation and convergence of the two systems.

Evidence of this phenomenon: traditional medicine focuses on treating ailments and symptoms, not preventing and encouraging healthy lifestyles, which is made up with the wellness industry. And as consumers become more educated and focused on prevention, they're beginning to be more educated of this principle. Furthermore, newer generations are beginning to seek care from 'lifestyle' related practitioners such as alternative and integrative medicine doctors.

Innovative and forward thinking company, 'Parsley Health', is beginning to successfully address this issue. Their model combines primary care with the alternative approach of preventive medicine, in an integrated and curated consumer journey throughout the lifecycle of their health needs, via a subscription based model. Our aim is to take it one step further.

Let's examine:

Imagine a world where your weekly trips to Whole Foods were rewarded. Your daily runs or yoga classes saved you single digit percentages on your health insurance. Your daily health activities were quantified and used to develop a personalized path of care based on your individual lifestyle. Not only that, but your 'membership' to a group of businesses and providers that were all dedicated to your health gave you incentives and deals when you did business with them. Wellness would be present where you work, eat, play...and any care receive wold be continued and connected within your lifestyle even after your care cycle has ended.

This community integration model recognizes that a) humans are driven by incentives and big picture relations, and b) the systems in lac to work in your care must work together to ultimately be successful.

At Welliance, we recognize that the providers and businesses in the wellness industry are after all, the ones who will change the trajectory of health in the county, and thus aim to work with them to amplify their message, while giving them the platform to reach consumer in new light...and beginning the steps of the integrative healthcare revolution.

This entry is an example of a formalized mission statement drafted from the background and origins of the company. As consumer behavior leans more towards identifying with brands to whom they feel a deep connection with based on the businesses's message and purpose, having one of these is critical, especially for business in the health and wellness space.

For help on crafting your own mission statement that effectively identifies with and speaks to your target audience, send us a message here: www.wellianceamerica.com/contact/

4 views0 comments
Subscribe to the Weekly Industry Insights Newsletter!

Thanks for submitting!