The medical device industry is uniquely positioned to solve some of healthcare’s most intractable problems. Learn how device and diagnostics manufacturers are making new connections with health systems, healthcare providers, pharmaceutical companies and others to lower costs and improve the lives of patients in the New Health Economy.
2017 will be a year of equilibrium for medical costs. Forces that increase health costs are tempered by demand for value in the New Health Economy. PwC’s HRI projects a 6.5% growth rate for medical costs for 2017, the same as the current year.
Financial incentives, technological advances and pioneering care models have provided fertile soil for the green shoots of population health to grow. But for these programs to flourish, they will need more sophisticated analytics, patient stratification, community involvement and care management.
In a New Health Economy demanding that they shoulder greater risk, health systems contemplate taking control of the full healthcare dollar by launching their own health plans. However, doing so successfully requires having the right capabilities and a cohesive strategy.
Retail pharmacies face shrinking margins in their core business and tougher competition in a shifting health industry. Yet these companies have the opportunity to redefine themselves as central players – and critical partners – in the New Health Economy.
Parts of the pharmaceutical industry continue to struggle with drug quality. A major shift in the way the FDA oversees drug quality could pose new challenges for companies with inadequate control over their manufacturing facilities and supply chains.
New collaborations pairing drug makers with insurers, health systems, patient groups and technology firms are reconfiguring drug R&D and commercialization. Shared data is shaping drug development and demonstrating health outcomes to create value for patients and industry.
Ten years after HRI began issuing projections, challenges remain despite improvements in efficiency and quality that have begun to bend the cost curve. Much of the slowing growth can be attributable to cost shifting. Consumers, who consequently bear more decision-making on health services, are looking for greater value.
Since 2010, the Affordable Care Act has underscored the rise of a New Health Economy predicated on value. Here are five fundamental shifts the law has energized over the past five years and how they will continue to shape the healthcare industry in the next five.
Pharmaceutical and life science companies and their chief regulator – the FDA – must find new ways to collaborate to meet 21st century demands. A modern regulatory framework is needed to ensure America’s global lead in innovation and stimulate the next generation of treatments and cures.
Technology companies are developing a myriad of wearable health devices that can track physical activity, monitor glucose and even sense if the user falls. What do consumers think about wearables? What are the implications for the health industry?