Health plans today bear little resemblance to the health plans of a decade ago—and perhaps to how they will look five years from now. As the healthcare industry navigates a period of profound change, forward-looking health plans recognize the opportunities data, analytics and digital are unlocking. And just as they previously evolved from benefit administrators to health partners, health plans are again working to reinvent their business models and integrate cost-cutting capabilities ahead of significant market disruption.

Paradigm shifts are everywhere—from rising treatment costs, market consolidation with retail pharmacies, health plans and providers, and regulatory shifts. The U.S. population now includes six generations, each with widely varying needs, wants and expectations from their health and care.

So, how do health plans reinvent themselves today to meet the evolving needs of various customers within the ecosystem? A pragmatic approach would be to identify their strengths in data and analytics capabilities and scrutinize their investment roadmap. Are they focused on the “right” activities to generate operational insights?