As health insurance becomes more consumer centric, employers must decide about exchanges: public, private, or none of the above. Early tremors in the market suggest a coming paradigm shift from a business-to-business model toward a business-to-consumer model of purchasing healthcare.
Please join PwC for a complimentary Pharmaceutical and Life Sciences Tax Technical Hot Topics webcast: Federal Medical Device Excise Tax (MDET); including a Legislative Update, IRS Audit Program and Planning Opportunities on Tuesday, September 23, 2014 from 12:00pm - 1:00pm (US ET).
Biotech soars to record high: Investment in biotechnology was the highest since the start of the MoneyTree data series in 1995. Biotech and medical devices industries both see year-over-year double-digit growth in investments.
We see a steady pace in the volume of deals for the health services sectors from the first to second quarters with 143 and 138 announced deals (281 total deals), respectively. This volume is also consistent on a year to date basis with 2013 and its 289 announced deals. However, we also note that on a quarterly basis, the second quarter of 2014’s deal volume (138 deals) has declined almost 13% from the same period in 2013 (158 deals).
Michele Weldon, PwC's National Employee Benefit Plan Practice Leader, will provide an overview of current developments related to Defined Benefit, Defined Contribution, and Health & Welfare employee benefit plans. This will include an update on recent changes in accounting, auditing and regulatory requirements impacting employee benefit plans.
Health care organizations today find themselves amid transformation on numerous fronts: everything from merging provider organizations to converging providers and payors to changing compensation models. Many of these changes are starting to reflect an Affordable Care Act America, along with more general shifts in the US healthcare industry—all of which yield implications for stakeholders across the board, including executives, employees, and physicians.
This webcast will cover FASB standard setting developments that have occurred since the April webcast. Among other matters, developments related to the FASB/IASB convergence projects will be addressed, with a concentration on the new revenue recognition standard issued in May, as well as an update on FASB projects impacting not-for-profit entities, including the not-for-profit financial statement project. As always, the emphasis is on not-for-profit organizations that apply FASB standards, with an emphasis on healthcare and higher education institutions.
PwC is pleased to announce the availability of our 2014 Health and Well-being Touchstone Survey results. The 2014 survey data contains detailed benefits information provided by approximately 1,200 participating companies in 35 different industries across the nation.
The story of 2015 is a nuanced one. At first glance, the health sector appears to be reverting to historical patterns of bouncing back as the nation recovers from the economic doldrums. Whether spending more freely because of the improved economy or shopping with insurance provided through the Affordable Care Act, consumers triggered the first bump in growth in the first quarter of 2014. We expect that to continue through next year.
The FASB and IASB have issued their long-awaited converged standard on revenue recognition. How will you be affected? This industry-specific supplement to our In depth publication highlights some of the areas that could create the most significant challenges for Pharmaceutical & Life Sciences companies as they transition to the new revenue standard.
The webcast will provide PwC insights and survey highlights related to emerging trends and future benefits strategies as well as provide benchmark information. Topics to be covered include: health, welfare and retirement benefits design, costs, contributions and funding, and benefits delivery (e.g. private exchanges) as well as related strategies around health and cost management, fringe benefits and broader well-being.
This Pharmaceutical and Life Sciences Alert focuses on the key accounting considerations when assessing whether an entity is an investment company under the new accounting definition and provides illustrative examples.
This installment of PwC's Healthcare, Higher Education, and Not-for-Profit quarterly webcast series covers (1) recent developments related to the FASB/IASB convergence projects, (2) an update on FASB projects impacting not-for-profit entities, and (3) as a refresher we will talk about standards that will be effective this year.
The PwC Rx Marketplace Quarterly features a wide range of financial reporting developments, accounting and tax developments, regulatory updates and general industry trends impacting the pharmaceutical and life sciences industry. Each quarterly also shares strategies that companies can use to unlock divestiture value, as well as links to publications and online resources. In the spotlight in this issue is our summary of the IPO market, which has seen its most robust year since 2007. We cover key metrics for the past year, assess the industry’s top registrants, and offer a snapshot of IPO activity during the first two months of 2014.
PwC recently convened several roundtables of employers in New York, Chicago, and Atlanta to discuss health coverage at this pivotal moment. This thought leadership article highlights the conversations and results of the related survey.
News stories, international negotiations, and recent case law continue to demonstrate the importance of securing trade secrets as a means of ensuring prosperity for companies operating in the U.S. and abroad.
Promoting healthcare solutions worldwide requires navigation of the complex and constantly changing landscape of US export control laws. How regulatory controls apply to medical devices, pharmaceuticals, and biotechnology products is unique, and understanding where and how to export these products is critical to competing in the global market. This piece discusses the effect of “dual use” controls, defense regulations, and OFAC sanctions on these products, and the risks and opportunities for this booming industry.
To help registrants gain insight into the SEC’s current areas of interest, PwC analyzed comments released by the SEC staff to domestic large accelerated, accelerated and non-accelerated registrants within the healthcare provider industry during the three year period ended September 30, 2013.
The third quarter of 2013 realized a slight uptick over the prior two quarters in the volume of healthcare services deals with 138 total transactions. However, the value of the dealsannounced in Q3 2013, $15.8 billion, was up 35% over the second quarter. In both volume and value, the year-to-date period for 2013 continues to lag the same period in 2012 with volume down 4.6% and value down 25%.
This publication highlights factors the industry should consider and provides guidance on the most pertinent accounting solutions under US GAAP. The solutions presented are meant to provide a framework for determining the appropriate accounting answer for general solutions.
As patients exert greater control over their healthcare, drug makers need to master the complexities of consumer behavior to demonstrate value in the new health economy. Consumers are willing to offer feedback that informs who they are, how they behave and how existing biases impact their behavior. Drug makers that tap into this feedback will reach a new level of success.
Pharmaceutical and Life Sciences - 2013 SEC comment letter trend compiles and analyzes the SEC staff’s comment letters issued over the past few years to registrants across different sectors within the Pharmaceutical and Life Sciences industry and provides highlights surrounding current hot topics and sample comments.
HR Innovation offers advanced thinking about the challenges that should be uppermost on the minds and agendas of organizations and their Human Resources (HR) leaders. In this issue of HR Innovation, we focus on the continually changing HR landscape and what organizations need to do to take control of today’s opportunities and tomorrow’s decisions.
The mere concept of innovation needs redefining in a health ecosystem that demands and rewards new models for delivering better care across a broader patient population at lower costs. Medtech companies must get ready to compete in this new environment or risk being displaced by ones that can show evidence their innovations achieve the same high clinical standards but are faster, better, cheaper, and more integrated into the care delivery continuum.
This publication highlights factors the medical technology industry should consider and provides guidance on the most pertinent accounting solutions under US GAAP. The solutions presented are meant to provide a framework for determining the appropriate accounting answer for general solutions.
As healthcare systems face increasing challenges related to implementation of the Affordable Care Act, talent will be a large focus to keep expenditures low and productivity high. HR will need to work to engage and retain their key employees – high performers and those within pivotal roles – to help brace for these changes.
Pharmaceutical companies stand ready to be tested in a world where a drug’s success is more closely tied to its performance. The challenges mount with competition from generics and growing pressure to reduce costs. Now, insurers and integrated providers are driven by models that reward health outcomes and cost savings. For success, drug makers are exploring real-world evidence, new payment models, and the right partnerships.