MoneyTreeTM venture capital funding: Capital crunch
The life sciences share of total venture funding declined from 29% during the last quarter of 2012 to 24% during the first quarter of 2013. Biotechnology, raising $875 million in 96 deals during the first quarter, placed a distant second in dollars raised behind software, which drew $2.3 billion in 329 deals.
The Massachusetts Experience employer sponsored health insurance post reform
As implementation of the Affordable Care Act presses forward, questions remain about its impact on employers. The 2006 Massachusetts universal healthcare legislation provides a guidepost for employers considering a path forward and offers lessons learned.
Scoring healthcare: Navigating customer experience ratings
PwC's insights on the impact of the ratings culture on healthcare
Solving the talent equation for health IT
Top healthcare executives are revisiting talent strategies to overcome technology and skill availability pressures.
Emerging markets growth: The critical role of operations in driving competitive advantage
Biopharmaceutical companies are expanding into emerging markets, sometimes without involving supply chain operations. The operational function (operations) should play a strategic role in emerging market expansion planning.
Pharmaceutical and Life Sciences Deals Insights Quarterly
Merger and acquisition deal value in the pharmaceutical and life sciences sector declined during the fourth quarter 2012, but transaction volume increased as acquiring firms looked to expand product offerings and geographic reach.
Risk-based monitoring: Reduce clinical trial costs while protecting safety and quality
The demand for higher value from pharmaceuticals and medical devices is increasing. Risk-based monitoring can reduce the development time of safe and effective products at lower cost.
How to respond to the Final Omnibus HIPAA Rule
The Final HIPAA Omnibus Rule calls for changes to privacy and security requirements that healthcare organizations should address, especially where current practices and processes could be less effective and expensive to build and maintain.
CMS shines light on Transparency Final Rule: Insights and impact
Designed to create and promote greater transparency across health care markets, the Transparency Program requires applicable manufacturers to collect, aggregate, and report payments or transfers of value to physicians and teaching hospitals was well as for physician ownership or investment interests in manufacturers and group purchasing organizations. To gauge the significance of the impact of the Final Rule, one only need to consider the position of the Center for Medicare and Medicaid Services (CMS) that it has the right to audit the reportable data and documentation.
2013 Top Issues for Health Industries
HRI's annual report on issues impacting the health industries in the coming year
California biomedical industry report for 2013
Insight into California’s global leadership in the biomedical industry and the impact of the industry’s presence on the state.
New Chemistry: Getting the biopharmaceutical talent formula right
As the biopharmaceutical industry faces a host of challenges to its business model, research and development is undergoing a major transformation.
MoneyTreeTM venture capital funding: Biotech bounce
US venture capital funding in life sciences increased in the third quarter 2012, but the sector still trended downward for the year
Warning signs for the health industry: HRI post-election consumer survey results
Almost seven out of 10 voters want President Obama to rein in healthcare costs. The health sector must position itself to serve cost-conscious consumers and clearly articulate its value proposition.
Pharma 2020: From vision to decision
PwC shares strategic insights for the industry.
PwC shares strategic insights for the industry.
Health reform re-elected: ACA implementation in tough fiscal times
PwC's Health Research Institute shares their analysis of the impact of the 2012 elections.
HealthCast: Global Best Practices in Bending the Cost Curve
Bending the Cost Curve is a global symposium series where leading practitioners share emerging best practices that "bend the cost curve" using a case study approach.
Medicaid expansion: New patients, new challenges
Medicaid is expected to absorb more than 11 million new enrollees over the next decade, yet little is known about their health needs. Providers, insurers and drug companies must first understand the demographics behind the expansion before they can tailor their medical and business practices to take advantage of the opportunities they will provide.
Medtech Focus: Emerging mHealth: Paths for growth
Patients in emerging markets are more likely to use mHealth applications and services than those in developed countries.
Health Insurance Exchanges: Long on options, short on time
12 million Americans are expected to begin purchasing health insurance through exchanges in 2013
Operating performance in the medtech industry: Trends and imperatives
With an era of high growth and profitability in the Medtech industry having given way to slower growth and flat profits, operating performance is becoming a critical driver of shareholder value for Medtech companies.
Medtech focus: India's marketplace
Collecting $3 billion in revenue in 2011 and growing at more than 15% per year, India’s medical technology (medtech) industry is rapidly expanding.
Advancing healthcare informatics: The power of partnerships
Further analysis of the Health Research Institute’s informatics report from the spring of 2012, addressing the impact and opportunities this presents health insurers.
MoneyTree: Dollar drought
Investments in biotechnology and medical device and equipment industries fell 39% in dollars and 22% in number of deals during the second quarter of 2012 from the same quarter of last year.
2012 Food and Drug Administration Safety and Innovation Act
On July 9, 2012 President Obama signed into law the Food and Drug Administration Safety and Innovation Act (FDASIA). The re-authorization reaffirms the FDA user fee model, adds new fee categories and introduces new provisions.
Customer experience in health care: The moment of truth
A better understanding of what customers want, need and value gives organizations a competitive advantage. PwC’s customer experience and radar report shares insights into the minds of real consumers.
The annual cost of brain disease in 2012
PwC estimates the medical treatment costs and long term care costs related to brain disease in the United States are about $500 billion in 2012. If other non-medical costs are included the total could be over $900 billion annually.
Implications of the US Supreme Court ruling on healthcare
The US Supreme Court ruling upholding the Affordable Care Act reinjects a sense of urgency into the transformation of an industry that represents nearly one-fifth US economy.
Walking the Global Tightrope: Balancing the Risks and Rewards of Med-tech Globalization
The medical technology (med-tech) industry is experiencing a significant transformation. The globalization of design, sourcing, manufacturing, distribution and sales of med-tech has created opportunities and challenges for the entire med-tech ecosystem.
Healthcare executive agenda: Community health needs assessment
Because of heightened scrutiny around justification for tax exemptions, the government has been stepping up its reporting requirements. The Patient Protection and Affordable Care Act added new requirements for not-for-profit hospitals to maintain their tax-exempt status under Internal Revenue Code (“IRC”) section 501(c)(3). One of those new requirements is for a community health needs assessment (CHNA) that pushes hospitals to look beyond their own institutions. This brief provides guidance to tax-exempt hospitals on how to fulfill the new community health needs assessment.
Emerging mHealth: Paths for growth
In this PwC-commissioned report from the Economist Intelligence Unit (EIU), patients, doctors and payers share their views on mHealth. Find out what they told us, and learn more about the potential of mobile health in developed and emerging markets, the challenges, and the impact on stakeholders.
Medical cost trend: Behind the numbers 2013
This report looks at the projected increase in the cost of medical services for 2013. Medical cost trend is the primary factor in setting health insurance premiums. Commercial insurers and large employers use this information to estimate what the same health plan would cost in the following year.
Unleashing value: The changing payment landscape for the US pharmaceutical industry
Pharmaceuticals are competing over a shrinking piece of the prescription drug pie. Changes in the industry are hastening the arrival of an outcomes-based world where the value of a drug tracks much more closely with its impact on patient health.
Healthcare executive agenda: Challenges and requirements for US providers entering international markets
Healthcare providers contemplating entering into international markets require careful selection, planning and staffing. PwC's Healthcare Executive Agenda includes insights and challenges to consider.
Taking advantage of the Medtech market potential in India: Success will hinge on operating model innovation
To sustain revenue and market share growth in India, global medical technology companies should look to tailor their business strategies and operating models to the needs of India’s unique marketplace.
Social media likes healthcare: From marketing to social business
With one half of health industry executives saying they are concerned about how to integrate social media data into their business strategy there is a recognition that social media presents a significant industry challenge.
Health Insurance Exchange Final Rules: Moving ahead to 2014
PwC’s Health Research Institute has created a brief that provides an overview and implications of the Health Insurance Exchange final rules released by the Department of Health and Human Services on March 12 and 16, 2012.
The future of academic medical centers: Strategies to avoid a margin meltdown
Academic medical centers (AMCs) are the nucleus of our health system, yet they face multiple systemic challenges.
Needles in a haystack: Seeking knowledge with clinical informatics
Incorporating clinical informatics across a healthcare organization will be essential as the reimbursement landscape evolves to a more outcomes-based approach.
Healthcare executive agenda: Consolidation in the healthcare arena
This brief addresses why so many providers and payers are engaging in mergers and acquisitions, as well as why so many deals fail to meet expectations.
Medtech focus: IRS and Treasury publish notice of proposed rulemaking implementing new Medical Device Excise Tax
On February 3, 2012, the IRS and Treasury issued a Notice of Proposed Rulemaking and Notice of Public Hearing ("NPRM") concerning Taxable Medical Devices pursuant to the new I.R.C. § 4191 federal manufacturers excise tax on medical devices. This Medtech focus piece is a supplement to the Medical Device Tax Alert issued on 3 February 2012 and includes detailed analysis and insights into the regulations.
California Biomedical Industry, 2012 Report
The California biomedical industry report is a joint effort between California Health Institute (CHI), BayBio and PwC. It presents a portrait of California's biomedical industry at the beginning of 2012 and includes data on employment, wages, education and investment, as well as a snapshot of the product development pipeline.
Owning the disease: A new transformational business model for healthcare
To survive the coming storm, biomedical companies must build new models of innovation that are anchored in consumer-centric disease solutions rather than the traditional R&D department approaches.
Medtech focus: Diagnostics 2011
Deal-making activity in the in vitro diagnostics (IVD) sector shows strong growth in terms of valuations. This brief provides an overview of the M&A activity addressed in our Diagnostics 2011 report.
Sunshine Act Proposed Regulations
On December 14, 2011, the Centers for Medicare & Medicaid Services (CMS) published a proposed rule providing details for implementing the Physician Payment Sunshine Act (Sunshine Act) provisions under the Patient Protection and Affordable Care Act.
Medtech focus: Social media
Companies that rely on innovation cannot afford to omit social media for sales and marketing, product development, and business relationships from their business strategy. This alert provides company examples, basic guidance on developing a well-planned, systematic approach, and the overall opportunities offered to medical technology companies considering participating in social media.
Diagnostics 2011: M&A surges, companion diagnostics accelerate, and early detection offers new prospects
This report shares an overview of M&A deal activity during the past two years and the factors driving it, the development of new prospects for early detection testing and a review of significant events for the development of personalized medicine.
Medicare ACOs and shared savings models
This brief provides a financial analysis of the ACO opportunity, including a breakdown of ROI and cash flow possibilities.
Emerging issues: Summary of emerging accounting, tax and regulatory issues in 2011
PwC is pleased to share the 2011 edition of our Summary of Emerging Issues. The accounting, financial reporting, tax and regulatory compliance issues described in this summary have been specifically tailored to concentrate on areas of interest for not-for-profit organizations.
Aspiring giants: How small pharmas can drive to $1 billion — and beyond
Amid the volatile blend of opportunity and challenge in the global pharmaceutical industry, only a few small companies have exceeded the $1 billion revenue mark over the past two decades. PwC's report studies thirty companies that catapulted themselves beyond the $1 billion revenue mark, and the three winning strategies they pursued to jump-start that growth.
Top health industry issues of 2012
This year’s report provides more insight into the following trends: the impact of higher deductibles, how providers and insurers are teaming up for population health, potential drug shortages, health informatics, privacy and security, health insurance exchanges, pharma industry adapts to a post-blockbuster business model, social media in health, how politics may influence policy.
The absence of standardized REMS requirements presents operational challenges and increases the effort necessary to develop and operate REMS programs.
In the land of uncertainty, a map to prepare for the ACO model
Is the drive to promote Accountable Care Organizations (ACOs) an intriguing idea of the moment or a lasting trend? If the latter, should healthcare providers make their move now, or wait until the dust settles?
Old data learns new tricks: Managing patient privacy and security on a new data-sharing playground
Data is quickly becoming one of the health industry's most treasured commodities. Yet, health organizations are acutely aware that sensitive data can be easily compromised. In just the last year and a half, a breach of personal health information occurred, on average, every other day.
Quick thinking: Four key findings from health reform
A condensed version of PwC's reports, providing the industry with some "quick thinking" about how health reform will change the business of healthcare. The brief explores four key findings around health IT, physician-hospital alignment, mobile health, and the health insurance exchanges.
Bending the cost curve: Emerging international best practices
Healthcare reform is at the top of the global agenda as the combination of aging populations and increasing chronic illness drives up healthcare costs and increases the stress on already tight national budgets. Countries in the developed and developing world face similar healthcare challenges — namely, how to balance the obligations to provide access and quality care with the need to boost efficiency and innovation.
Change the channel: Health insurance exchanges expand choice and competition
Starting in 2014, insurers will compete head to head as health insurance exchanges open up consumer choice and a new $60 billion market.
Mandatory impairment testing
Several new accounting requirements present significant accounting and valuation challenges for nonprofit healthcare providers grappling with healthcare reform, decreasing reimbursement rates, limited growth, and shrinking margins.
The new gold rush: Prospectors are hoping to mine opportunities from the health industry
PwC surveyed US consumers and found they would be willing to spend more than $13 billion a year of their own money on new services. It's the promise of those new products and services that is enticing more and more businesses to turn to the US health system as an opportunity for innovation, differentiation, and profits.
Behind the numbers: Medical cost trends 2012
This year's report indicates that the medical cost trend is expected to increase from 8% in 2011 to 8.5% in 2012. An interesting blend of reactions to the recession, the slow recovery, health reform, and other variables are factored into the medical cost trend in 2012.
If innovation isn't measured, can it be managed?
How universities manage innovation through disciplined and novel measures.
Breakthroughs: The coordinated ED
Dynamic health systems are maximizing the efficiency, throughput, and patient experience of today’s ED in a shrinking reimbursement environment. Hospitals and physicians are also envisioning how the ED fits into a coordinated care system, with appropriate care given at multiple access points.
Transparency / aggregate spend: Raising compliance to the next level
Health reform in the US and on the global stage are converging to cause a "perfect storm" for pharmaceutical, medical device and life sciences companies who are already wrestling with the operational challenge of complying with a myriad of transparency regulations.
Stalking the ACO Unicorn
PwC has released a brief to address the implications of the proposed regulations for Accountable Care Organizations (ACOs). Included are key findings from the proposed Medicare regulations, an implementation timeline for the ACO program and frequently asked questions with corresponding answers.
From courtship to marriage: A two-part series on physician-hospital alignment
The notion of independent physicians may be a myth because so-called independent physicians are becoming increasingly financially tethered to hospitals. In response to this trend, PwC released a two-part series on physician-hospital alignment.
Brand Protection: Risk mitigation strategies can help life sciences companies preserve brand integrity and revenue
Threats to drug and medical product brands are growing online and across the globe, but a strong brand protection program will address key issues such as: counterfeit product, product diversion, parallel trade, trademark infringement and brand misrepresentation online. PwC's brief offers an overview of this growing issue and steps to implement your own brand protection program.
Putting patients into "meaningful use"
In January 2011, the U.S. Dept. of Health and Human Services issued the draft set of criteria for Stage 2, which sets higher standards for communicating health information to patients. Stage 2, which begins October 2012, requires hospitals to have at least 20% of their patient populations using PHRs. This represents a big leap from what hospitals have been preparing for over the past year.
Report: Pharma 2020: Supplying the future
Many pharmaceutical firms are trying to discover, develop and market medicines more efficiently, but they've invested relatively little effort in reconfiguring their manufacturing and distribution operations. Yet the supply chain is just as important; it's the link between the laboratory and the marketplace.
California Biomedical Industry 2011 Report
The 2011 report on California’s biomedical industry report is a collaborative effort between the California Healthcare Institute, BayBio and PwC. It offers a comprehensive overview of the impact of the biomedical sector on California’s economy and includes data on employment, wages, education and investment, as well as a snapshot of the product development pipeline.
Breakthroughs: The bridge to accountable care organizations (ACOs)
Health reform is encouraging healthcare providers to integrate resources to help bend the cost curve and increase efficiencies. Developing these "Accountable Care Organizations" has challenged organizations to develop their own strategies around clinical integration. This report shares insights and lessons learnt from leading hospital systems.
Medical Technology Innovation Scorecard
PwC's Medical Technology Innovation Scorecard: The race for global leadership assesses nine countries' capacity and capability for medical technology innovation: Brazil, China, France, Germany, India, Israel, Japan, United Kingdom, United States.
Top health industry issues of 2011
2011 is a makeover year for health industry organizations reacting to and preparing for new rules and payment models. Continuing cost pressures and new customer demands require a fresh look at existing roles of industry players.
The changing face of medical technology innovation
This in-depth article published in the September 2010 issue of In Vivo magazine discusses the opportunities and challenges that exist in today's medical device marketplace.
Build and Beyond: The (r)evolution of healthcare PPPs
Throughout the globe, Public-Private Partnerships (PPPs) are being crafted to make government and private industry more accountable for healthcare delivery and financing. This report tracks the evolution of the PPP models and explores how the capital and operational structure provided by PPPs can be leveraged more broadly to address government demands for greater efficiency in health spending.
Designing a health IT backbone for ACOs
The market for accountable care organizations (ACO) is generating a lot of interest and industry buzz. However, an ACO's success will hinge, at least in part, on its ability to share patient data at the point of care so health executives must prepare to explore a variety of options for designing the health information technology (IT) backbone for ACOs.
Improving America's Health V
The Pharmaceutical & Life Sciences Industry Group launched a thought leadership paper describing the ongoing relationship between the industry and FDA. This paper studies perceptions about the relationship with FDA from the point of view of industry participants.
In this article, Gerry McDougall and Matthew Rosamond address how personalized medicine can help healthcare center more on patients.
The current issue of View Magazine includes two health related articles: how customizing healthcare could transform employer benefits in a postreform world and what patient-centered healthcare means and how personalized medicine is addressing these challenges.
Biotech reinvented: Where do you go from here?
Governments around the world are trying to cut healthcare costs, and finding new drugs is getting harder. This report from PwC takes a closer look at what this means for the biotech industry.
Achieving global supply chain visibility
Global pharmaceutical outsourcing has become increasingly prevalent, but is creating a complex and risky supply chain environment that has pharmaceutical and life sciences executives on high alert. A major study co-sponsored by PwC indicates there are forces driving the industry to develop a supply chain that is more extended, globally dispersed and virtual. However, the ability to control the safety, efficacy and effectiveness of products will continue to be a challenge until the industry implements systems that can provide real time, global visibility into the supply chain, including practices and information from suppliers, distributors, shippers, and contract manufacturers.
Healthcare unwired: New business models delivering care anywhere
Mobile technology is changing the way we interact and communicate with each other, but it’s yet to pierce the ingrained practices of healthcare. However, mobile health is making headway and creating business models that unlock access to new players and technologies that support preventative, acute and chronic care.
Emerging issues: Summary of emerging accounting, tax and regulatory issues in 2010
PwC is pleased to share the 2010 edition of our Summary of Emerging Issues. The accounting, financial reporting, tax and regulatory compliance issues described in this summary have been specifically tailored to concentrate on areas of interest for not-for-profit organizations and governmental business-type activities (BTAs). The publications summary has been divided into five areas: FASB, GASB, SEC developments, Tax developments and Single audit developments.
Breakthroughs: HIT that enables quality, efficiency and value
Meaningful use has the potential to better connect providers and payers by fostering seamless data exchange and collaboration across the healthcare continuum. Using the same or interoperable EHRs, providers and payers can more easily exchange clinical, financial, and benefits information.
Ready or not: On the road to meaningful use of EHRs and health IT
Only half of hospitals will be ready to apply for the billions of dollars in stimulus funding for EHRs when it becomes available in 2011. Those hospitals that will be ready tend to be those who are working with patients, physicians and insurers on achieving what the government calls "meaningful use."
Behind the numbers: Medical cost trends 2011
In 2011, a complex set of forces will shape what is projected to be a 9% rise in medical costs for employers. Health reform, coupled with the aftermath of a significant recession, means that medical cost drivers will be more important than ever.
California Biomedical Industry: 2010 Report
The 2010 report on California’s biomedical industry report is a collaborative effort between the California Healthcare Institute and PricewaterhouseCoopers. It offers a comprehensive overview of the impact of the biomedical sector on California’s economy and includes data on employment, wages, education and investment, as well as a snapshot of the product development pipeline.
Pharmaceuticals and life sciences tax alert: comprehensive US healthcare reform legislation
This alert addresses significant tax provisions of both acts (referred to collectively as "the legislation") affecting pharmaceutical and life sciences companies.
Health Reform: Prospering in a post-reform world
This PricewaterhouseCoopers’ Health Research Institute report illustrates the mega trends that health executives will face as a result of health reform and provides recommendations on prospering in the post-reform world.
Healthcare reform sector implications: Payer
Health reform was frequently called “health insurance reform,” by its advocates, which is why the health insurance sector may be impacted more by this legislation than any other industry. However, companies may benefit from more individuals with insurance through coverage expansions.
Healthcare reform sector implications: Pharmaceutical and life sciences
Pharmaceutical and life sciences companies may benefit from increased revenues from more insured patients through expected coverage expansions. However, health reform legislation is expected to reduce net pharmaceutical revenues through higher discounts, rebates, taxes and fees.
Healthcare reform sector implications: Provider
Health reform poses both challenges and opportunities for healthcare providers. Hospitals will receive lower annual inflation updates for the next 10 years and significant reductions in disproportionate share (DSH) payments. Health reform also contains dozens of provisions that are intended to improve the efficiency of the healthcare system.
2013 Top Issues for Health Industries
HRI's annual report on issues impacting the health industries in the coming year
The impact of personalized medicine today
Right now in progressive health systems medical researchers and physicians are laboring jointly to bring the practical benefits of personalized medicine to the frontlines of healthcare delivery. Personalized medicine is where genetic testing, health IT, and patient-centered care intersect—and where high-value healthcare will live in the foreseeable future.
Building on the past: New approach to higher education finance
A stronger, more focused and centralized finance function represents a cornerstone of the "one-university" culture — one that will help ensure that the entire university operates in a collaborative manner to identify financial risks and opportunities through more effective financial, budgeting and financial risk management processes.
HealthCast:The customization of diagnosis, care and cure
HealthCast represents a view of the future from the PricewaterhouseCoopers Health Research Institute. To compile these reports, we conducted extensive desk research and commissioned surveys of thought leaders from all over the world.
What employers want from health insurers in 2010
This report addresses how employers' satisfaction with health insurers has eroded over the past year. Employers' expectations of their health insurers continue to change. While many studies examine the relationship between employees and their employer-sponsored benefits, less is known about employers and what they want from health insurance carriers.
Aligning hospitals and physicians toward value
In this report, four leading hospital systems share the lessons they have learned to help them: build physician input into the highest levels of the organization; get physicians and administrative leaders to use the same language; use more than one physician model toward the same goal; start the steps to sharing risk, and rewards for quality of care.
California Biomedical Industry: 2009 Report
This report is a collaborative effort between the California Healthcare Institute and PwC. It offers a comprehensive overview of the impact of the biomedical sector on California's economy and includes data on employment, wages, education and investment, as well as a snapshot of the product development pipeline.
Top 10 health industry issues in 2010
Each year PricewaterhouseCoopers' Health Research Institute publishes a report outlining the key issues for the coming year. This year the report suggests that organizations that can effectively leverage relationships, understand the impact of pending reform & potential regulatory changes, and respond to changing consumer demands will be the first to emerge from the recession and move forward.
The new science of personalized medicine: Translating the promise into practice
This PwC's report addresses a key new force the industry faces — personalized medicine. This force is redefining the health industry and disrupting the business models of healthcare organizations. Every player in the industry will have to change the way they relate to consumers if they are to compete in an era of personalized medicine.
Pharma 2020: Taxing Times Ahead — Which Path Will You Take
The fifth paper in the series, Pharma 2020: Taxing times ahead, focuses on the challenges ahead but also shows how companies can adapt their tax planning to support the provision of outcomes-based healthcare and remain competitive.
US GAAP - Issues and solutions for the medical technology industry - 2009 edition
The aim of the first edition of this publication is to highlight the industry-specific factors that need to be considered and to provide guidance on the most pertinent accounting solutions for medical technology-related companies under US GAAP. The solutions in this publication provide a framework for determining the appropriate accounting answer, but individual fact patterns may give rise to a different answer.
Transforming healthcare through secondary use of health data
This report addresses a key challenge the industry faces - leveraging the vast amount of electronic data which will result from current investments in IT to implement electronic health records. Despite these challenges, the opportunity to cut cost and improve care will drive innovation and collaboration in secondary use of data.
The science of change: How will proposed changes in revenue recognition impact your company?
Pharmaceutical and life sciences companies may soon face significant changes to the timing of revenue recognition. These changes are due to the issuance of new US GAAP guidance and the prospect of a completely new revenue recognition model. This publication is designed to assist pharmaceutical and life sciences companies to understand the potential impacts of the upcoming US GAAP changes and the joint revenue recognition project to their businesses.
Diagnostics 2009: Moving towards personalized medicine
This PwC report suggests that alternative business models with varying degrees of collaboration will emerge to provide a basis for the industry to operate more effectively as times change. It also evaluates the advantages and disadvantages of each alternative, their strengths and weaknesses and lists some key questions to make the transition to a new business successful.
Jammed access: Widening the front door to healthcare
This report addresses how we can increase access to care without increasing costs. The report focuses on three key obstacles that adversely impact accessibility: crowded points of entry; a system that is confusing to navigate; and individuals who inevitably fail to act on their health early.
Behind the numbers: Medical cost trends for 2010
Even after the US economy recorded its worst contraction in a quarter-century in late 2008 and early 2009, medical costs continued to grow. The perplexing contrast of health spending growing amid a deflated general economy will present employers with unique challenges for their 2010 healthcare benefits strategies.
Report on leading practices of public safety net healthcare delivery systems in the US
The public's safety net healthcare delivery system is unduly strained by financial pressures and a high and rising demand for services from a growing number of uninsured and underinsured patients in the United States.
Doing more with less: How can healthcare providers cut IT costs in today's economic climate?
The economic downturn combined with the Obama administration's push to implement electronic health records (EHR), presents a unique opportunity born out of necessity to simplify and standardize massive patchworks of IT functions. Organizations that focus on the long-term transformation of their IT infrastructure will likely thrive after the current economic downturn passes.
The impact of lifetime limits
PwC worked with the National Hemophilia Foundation on behalf of a coalition of advocacy organizations representing individual chronic diseases and disorders to conduct a study of lifetime limits under employer-sponsored medical plans.
Rock and a hard place: An analysis of the $36 billion impact from health IT stimulus funding
By injecting $36 billion in health IT through the stimulus fund, the federal government hopes to create a digital healthcare infrastructure that reduces costs and improves quality. Hospitals and physicians have little choice but to comply or suffer future shortfalls in Medicare reimbursement.
10 things you need to know now: How to respond to the new privacy and security provisions of the stimulus bill
Organizations that simply address the new HITECH provisions in the American Recovery and Reinvestment Act (ARRA), without consideration of the many new privacy and security rules and regulations, risk creating a patchwork of privacy and security processes and controls that will be unnecessarily expensive to build and maintain.
Pharma 2020: Challenging business models
The paper suggests that alternative business models with varying degrees of collaboration will emerge to provide a basis for the industry to operate more effectively as times change. It also evaluates the advantages and disadvantages of each alternative, their strengths and weaknesses and lists some key questions to make the transition to a new business successful.
Pharma 2020: Marketing the future
By 2020 the current role of the pharmaceutical industry’s sales and marketing workforce will be replaced by a new model as the industry shifts from a mass-market to a target-market approach to increase revenue.
10Minutes on health reform under Obama
160 million Americans receive their health insurance benefits through their employer. However, in the coming year many employers could face major changes as the Obama administration attempts to reform the system. The reforms could curb the rising cost of healthcare purchased by government and private employers by introducing new programs and regulations.
Strong medicine required
This report explores how the combined impact of a slowing economy, increasing healthcare costs and a new administration in Washington D.C. will impact a business’s bottom line in the coming year and beyond. The report also looks at how businesses can effectively balance these costs with the need to attract and retain a productive workforce.
Top nine health industry issues in 2009
External forces will compel health industry organizations to react to new financial realities, regulations, and technology. Chief among those forces will be the effects of the economic crisis, a new president and Congress, and financial and technology companies looking to extend their reach into the health industry.
2007/08 Compliance Better Practices Project: Final Survey, Interview Results and Polling Questions
The medical device industry has been quick to adopt, implement, and give further definition to the Advanced Medical Technology Association (AdvaMed) Code of Ethics and its provisions. The survey was conducted in consultation with AdvaMed and its Device and Diagnostic Compliance Group (DDCG) working group.
Healthcare policy in an Obama administration: Delivering on the promise of universal coverage
This report examines the challenges the President faces, explains how these reforms may be enacted, the potential impact for employers as well as those in the health industry and provides five ideas for making healthcare more affordable.
What employers want from health insurers now
Most employers are satisfied with their health benefits and want to continue providing these benefits to their employees. However, employers’ expectations of their health insurers are changing, and while many studies have examined the relationship between employees and their employer-sponsored benefits, less is known about employers and what they want from insurance carriers.
The changing dynamics of pharma outsourcing in Asia: Are you readjusting your sights?
The dynamics of pharma outsourcing and location decisions in Asia are changing. Cost reduction is being augmented and companies need to set their strategic sights on a future world. This new report from PricewaterhouseCoopers highlights the dramatic change and development in pharmaceutical outsourcing in Asia.
You get what you pay for: A global look at balancing demand, quality, and efficiency in healthcare payment reform
Healthcare payment systems need to change and stakeholders need to come together to leverage incentives to positively change behavior and improve outcomes. This report examines the current landscape and the key levers in driving such change by addressing the close link that exists between efficiency, quality, demand management, and the structure of the healthcare payment system.
Pharma 2020: Virtual R&D Which path will you take?
The second paper in the PwC Pharma 2020 series, this report provides a visionary perspective on the change drivers that will impact research and development productivity and offer greater opportunities for the development of more, truly innovative products giving greater benefit to healthcare payers, providers and patients, and greater value for the companies involved.
Behind the numbers: Medical cost trends for 2009
Healthcare costs continue to outpace the rate of inflation but the silver lining is that since 2003 the percentage rate of increases has diminished each year. According to employers and health plans, that trend is predicted to level off in 2009 and premium increases should be expected in the future.
The price of excess: Identifying waste in healthcare spending
In April 2008, PricewaterhouseCoopers hosted the 180° Health Forum in Washington D.C., bringing together representatives of government, regulatory bodies and the nation’s largest hospitals and health systems, health insurers, pharmaceutical and life sciences companies to seek new, collaborative approaches to solving some of the health system’s most intractable problems.
Research rewired: Merging care and research information to improve knowledge discovery
This report investigates the benefits, barriers, and emerging approaches to creating an integrated information environment that will help to shape scientific diagnostic, drug, and device discovery in the future.
Working towards wellness: The business rationale
Tangible results from existing workplace wellness plans in various countries and industries give insight into the business results. With appropriate leadership, organizations can help drive change that will improve wellness, prevent chronic diseases and drive down healthcare costs.
Paying for performance: Incentives and the English health system
Healthcare policy makers and payers around the world are currently experimenting with how to assure and improve the quality of healthcare systems. In recent years, some government and commercial payers have developed P4P mechanisms, which reimburse organizations for achieving and maintaining performance objectives.
Closing the seams: Developing an integrated approach to health system disaster preparedness
This report analyzes preparedness throughout every key element of our healthcare system, identifies gaps, and highlights emerging solutions and innovative best practices that can be leveraged.
What works: Healing the healthcare staffing shortage
The federal government predicts that by 2020, nurse and physician retirements will contribute to a shortage of approximately 24,000 doctors and nearly 1 million nurses. Health industry leaders are faced with the challenge of orchestrating care in an increasingly complex and converging healthcare labor market.
The quality conundrum: Practical approaches for enhancing patient care
This report is a compilation of essays by PwC subject matter specialists, discussions with clients and insights from interviews with health industry leaders in the United States and around the world. It explores the barriers that have made healthcare quality improvements difficult to achieve, and outlines a clear path to progress.
Working towards wellness: Accelerating the prevention of chronic disease
In collaboration with the World Economic Forum, PwC’s Health Research Institute researched the impact of chronic disease and reviewed best practices in developing, launching and maintaining wellness programs. This report reveals the consensus of in-depth interviews with thought leaders from multinational corporations, industry associations, vendors, regulatory agencies, and the medical community.
The economics of IT and hospital performance
This report provides the most comprehensive evidence that investment in information technology will improve hospital business performance and that IT capital investment can eventually pay for itself in the healthcare environment.
Healthy choices: The changing role of the health insurer
Healthcare reform is on the agenda and, to varying degrees, systems are undergoing change. Similar pressures can be recognized around the world but the health insurance industry has a more national orientation than most industries. This report shares some of the choices available.
My brother’s keeper: Growing expectations confront hospitals on community benefits and charity care
Any hospital with an emergency department is in the business of community benefit. Unlike other corporations, hospitals don’t have the luxury of picking and choosing their preferred charity. However, in an era of increased emphasis on corporate responsibility, hospitals must review their role in community benefit.
The trends and benefits of providing healthcare quality data
The focus of this HealthBrief is on healthcare quality data that firms provide to their employees as a way to influence the utilization of healthcare through better education of their employees on cost and quality issues and improvement of their own health behaviors.
Employers embrace consumerism to control healthcare costs
With double-digit health insurance cost increases affecting the business bottom line, employers are turning to consumerism and consumer directed healthcare to provide a solution. This report reviews this trend to find out how employers are coping with rising healthcare costs and the promise that consumerism may bring
Acts of charity: Charity care strategies for hospitals in a changing landscape
Hospital charity care provides millions of the uninsured with free care, but courts, government regulators, and community leaders are now questioning the value that society derives from this community benefit. This comprehensive report examines the developing charity care issue, discusses key findings and recommendations and provides strategies for succeeding.
PwC 2009 health and well-being Touchstone survey results
The 2009 survey provides summary data on medical and prescription drug plan design, costs, wellness and disease management programs and future healthcare strategies. Additional data was also included this year on COBRA rates, retirement benefits and work-life programs.
Weathering the Storm
The Money Tree data shows that Massachusetts outperformed the nation in both year-over-year and quarter-over-quarter in 2008. However, life sciences funding fell over $200 million for the first time in more than two years. This trend report outlines the factors of the general funding by stage, deal and size.
Biotech: Lifting Big Pharma’s Prospects with Biologics
Therapeutic and diagnostic biologics helped drive venture capital investment in the overall human biotech sector in 2008 and are the fastest growing subsectors within the life sciences industry. Read more on the impact biotech is having on pharma.
Leveraging IT risk management to boost competitive advantage
This report highlights companies that embrace a proactive and risk-based technology governance, risk and compliance approach. And demonstrates how this approach helps those companies to gain a competitive advantage. Results are based on a survey conducted in 2008 with 17 participating pharmaceutical and life sciences companies.
Investing in China’s Pharmaceutical Industry - 2nd Edition
Investing in China’s Pharmaceutical Industry is the second edition of a paper published by PricewaterhouseCoopers looking into the current pharmaceutical market conditions in China. The report covers various subjects that are considered to be of concern to the pharmaceutical industry and/or investors in the pharmaceutical (pharma) industry in China. This publication builds on the foundation set in the first report, published in 2006.
Pay-for-performance arrangements - IFRS Revenue Recognition Guidance
Pay-for-performance is a pricing concept under which the price paid for a given medicine is intended to reflect the economic benefits of a drug at an individual patient level. The idea that those that fund healthcare, whether it be insurances companies (as in the USA) or Governments and the public purse (as in much of Europe), should only pay for drugs that have a demonstrable benefit over other treatments is not new and in recent years both Governments and regulators have showed increasing reluctance to pay for “me-too” or “copy-cat” drugs.
Waking up to REACH* Pharmaceuticals and life sciences survey summary
To gauge readiness and reaction to the Registration, Evaluation and Authorisation of Chemicals legislation, or REACH, PwC’s International Survey Unit interviewed 241 senior executives across 6 industries in 29 countries. Overall, we found that two in five companies have limited awareness of the regulation and one in four executives believes Europe’s complex chemicals legislation will have no impact on operations. In comparison, pharmaceuticals companies had a higher level of awareness of REACH than did other industries surveyed, though companies in North America were generally less well informed about the legislation than in Europe and Asia Pacific.
International Financial Reporting Standards (IFRS) - Issues and Solutions for the Pharmaceutical and Life Sciences Industries – Vol I & II UPDATES
This report is an update of the 2004 and 2005 volumes 1 and 2 of IFRS Issues and Solutions for the Pharmaceutical Industry. The objective of this new edition is to give greater clarity on various grey areas of definition and interpretation that could have been raised following the implementation of the standards in 2005.
IFRS - Issues and Solutions for the Pharmaceuticals and Life Sciences Industries - Vol III
This third publication of IFRS Issues and Solutions for the Pharmaceutical and Life Sciences industries has been prepared to stimulate discussion and represents a first step in trying to establish a common platform or framework. Principally written from a revenue recognition standpoint, it considers how both parties can reach an agreement. However, the paper does not intend to provide a formulaic approach to evaluating contracts as each solution should reflect the facts and circumstances of each agreement.
Pharma 2020: The vision - Which path will you take?
Pharma 2020: The vision: Which path will you take? indicates that the current pharmaceutical industry business model is both economically unsustainable and operationally incapable of acting quickly enough to produce the types of innovative treatments demanded by global markets. In order to make the most of these future growth opportunities, the industry must fundamentally change the way it operates.
Super Cluster: Ideas, perspectives and updates from the Massachusetts life sciences industry
Massachusetts is a leader in the life sciences industry by many measures. This report provides economic analysis on, and provides trends related to employment, wages, and public funding. It also draws on information from the 2007 PwC Massachusetts Life Sciences Cluster Survey, which included over 100 executives from the life sciences industry in Massachusetts.
Unlocking the power of pharmacovigilance: An adaptive approach to an evolving drug safety environment
Co-developed by the pharmaceutical industry group and the firm’s Health Research Institute, this report is a focused analysis of the current state of drug safety monitoring (known as pharmacovigilance) and a guide to field-tested operational strategies that can be employed to improve current pharmacovigilance practices.
The new Milken Institute study, The Greater Philadelphia Life Sciences Cluster: An Economic and Comparative Assessment, compares the Greater Philadelphia region to 10 other major metropolitan areas. The study is unique in scope in several respects, including the geography covered and the breadth of the sectors surveyed. Given the strong synergies among these components, this definition presents a more accurate picture of the broad life sciences economy.
Gearing up for a global gravity shift* growth, risk and learning in the Asia pharmaceutical market
The report, Gearing up for a Global Gravity Shift, is based on in-depth interviews with 185 senior pharmaceutical executives across nine different territories in the region; China, India, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.
A review of the implementation of IFRS in the pharmaceuticals and life sciences industries
This review is based on an analysis of the 2006 financial statements of 12 major pharmaceutical entities reporting under IFRS. The aim is two-fold: to help pharmaceutical companies to compare their disclosure against their peers’, and to help users of financial statements to interpret and understand the methods and presentational options adopted in the financial statements.
Pharmaceutical sector M&A insights 2006-2007
This report highlights some of the deals and developments that occurred in 2006 and the first half of 2007, another period of increased M&A activity. Large pharmaceutical players have been a key driver of M&A in their sustained effort to strengthen product pipelines. We have also seen continuing global consolidation in the generics arena.
KnowledgeLine: Beyond the basics: Building business value through an effective compliance program - November 2009
Through the recent overhaul of the AdvaMed Code of Ethics, medical device companies gained the opportunity to use the renewed emphasis on ethics to revamp their approach to compliance.
Pharma and life sciences tax news: Vol. 8, No. 16: Ireland’s 2010 Budget - key highlights of interest to inward investors - 15 December 2009
Pharma and life sciences tax news: Vol. 8, No. 15: Generating cash from Irish R&D activities - 30 October 2009
Pharma and life sciences tax news: Vol. 8, No. 14: Foreign branch gross receipts must be included in research credit calculation, Tax Court rules - 29 October 2009
Pharma and life sciences tax news: Vol. 8, No. 13: Luxembourg IP and R&D regimes and life sciences cluster - 22 October 2009
Pharma and life sciences tax news: Vol. 8, No. 12: Price regulation changes for vital and essential pharmaceuticals - 22 October 2009
Pharma and life sciences tax news: Vol. 8, No. 11: China - SAT national training focuses on the pharmaceutical industry - 22 October 2009
Pharma and life sciences tax news: Vol. 8, No. 10: New Dutch IP regime attractive for Pharma and Life Science companies - 6 October 2009
Pharma and life sciences tax news: Vol. 8, No. 9: Medical device industry not alone in opposing Baucus health reform bill’s $4 billion annual fee on the sector - 28 September 2009
Pharma and life sciences tax news: Vol. 8, No. 8: Joint Committee on Taxation (JCT) Analyzes the Obama Administration’s International Tax Proposals - 24 September 2009
Pharma and life sciences tax news: Vol. 8, No. 7: Revised OECD transfer pricing guidelines respond to business concerns on key issue - 24 September 2009
Pharma and life sciences tax news: Vol. 8, No. 6: Finance Chairman Baucus proposes healthcare reform bill with revenue offsets - 17 September 2009
Pharma and life sciences tax news: Vol. 8, No. 5: Ireland’s Commission on Taxation report reinforces Ireland’s low corporate tax regime - 17 September 2009
Pharma and life sciences tax news: Vol. 8, No. 4: IRS Issues Guidance on Transfer Pricing Adjustments in Section 936 Exit Audits - 26 August 2009
Revenue Cycle Strategist
This article was written by PricewaterhouseCoopers’ partner, John Dugan, and published in May 2009 for Healthcare Financial Management Association (HFMA). The article is regarding the Medicare recovery audit contractor (RAC) program and discusses the potential risks and opportunities available to providers.
On the RAC: Challenges for Healthcare Providers
This article was written by PricewaterhouseCoopers’ partner, John Dugan, and published in June 2009 for Compliance Today. The article identifies challenges and provides suggestions on what healthcare providers should or could focus on to prepare for RAC.
Medical identity theft and data mismanagement
The PricewaterhouseCoopers’ brochure includes key drivers and facts regarding the protection of sensitive information to avoid medical identity theft and data mismanagement. Data losses can be devastating - besides potential fines and lawsuits, security breaches can have long-term impact on your organization’s brand and reputation.
A look at the redesigned Form 990 and new schedule H
In a feature story, written by PwC’s Exempt Organizations Tax Services Director Travis Patton in the February 2009 issue of Healthcare Financial Management, Patton discusses the redesigned Form 990 and new Schedule H, and outlines seven action steps that hospitals should consider to ensure they can and will meet the reporting requirements.
Straight Talk: Looking at Health System Disaster Preparedness
The U.S. health system is not sufficiently prepared to respond to a major disaster: funding is limited, private and public efforts are not integrated, communications systems are incompatible and infrastructure is inadequate. In this installment of Straight Talk, Health Industry leaders talk about the steps health executives should take to ensure an effective response to a disaster.
KnowledgeLine: Physician Payments Sunshine Act: Healthcare reform ups the ante on transparency
New House bill would require pharmaceutical, biotechnology, and medical device companies to report spending on broad range of health professionals and organizations.
KnowledgeLine: Achieving compliance as a competitive advantage through the updated AdvaMed Code of Ethics
This first major code update since 2003, which takes effect July 1, 2009, sets forth explicit guidelines about appropriate and inappropriate interactions and arrangements with healthcare professionals (HCPs).
KnowledgeLine: Supplier Risk Assessment
For pharmaceutical, life sciences, and medical device companies, supply chain breakdowns not only bring immediate damage to the affected company, but also can threaten human health and well-being by causing medical supply shortages. In this point of view piece PwC highlights how a continuous supply chain monitoring process that begins with supplier selection and relies on key risk indicators and early intervention is essential to preventing and mitigating the impact of supply chain breakdowns.
Indian Budget 2009 - Pharmaceuticals and Life Sciences Snapshot Pharma and life sciences tax news: Vol. 8, No. 3
India is an important emerging market for the Pharmaceuticals and Life Sciences industry. There are a lot of multinationals having business operations in India or actively looking to make foray into India and which were probably looking forward to the presentation of the Indian Union Budget by the Finance Minister on 6th July, 2009.
Onshore Irish IP Regime: Pharma and life sciences tax news: Vol. 8, No. 2
The Irish Minister for Finance has recently announced the introduction of tax relief on the acquisition of intellectual property (IP). This announcement is the culmination of the long sought onshore IP regime, and has been widely welcomed.
Deferral of tax on foreign earnings for US multinationals in jeopardy: Pharma and life sciences tax news: Vol. 8, No. 1
In the face of record deficits, the Obama administration’s February 26, 2009, budget proposes to “implement international enforcement, reform deferral, and other tax reform policies” to raise $210 billion for the US Treasury over the next 10 years. Office of Management and Budget, “A New Era of Responsibility: Renewing America’s Promise,” Washington, D.C.: US Government Printing Office, Feb. 26, 2009, 122. Details have not yet been provided, but much speculation on Capitol Hill points to proposed changes that would severely restrict or indirectly limit the tax provision that allows US-based multinationals to defer US income tax on foreign earnings until repatriated.
Fair value option considerations: A guide for not-for-profit organizations
This guide looks at accounts typically found in the financial statements of not-for-profits organizations (including healthcare, higher education and other not-for-profits) and discusses some of the pros and cons of making FVO elections under FAS 159.
Impact of FAS 157 on contribution accounting: A guide for not-for-profit organizations
Using a case study format, this guide provides a high-level overview of the FAS 157 framework and then explores how FAS 157 could be applied by not-for-profit organizations (including healthcare, higher education and other not-for-profits) to contribution-related fair value measurements.
This special report appeared in Managed Healthcare Executive’s February 2009 publication to address workplace wellness. The report discusses how MCOs need to take the initiative as employers to commit to wellness programs and the benefits that some MCOs have derived from putting these programs into practice.
KnowledgeLine: Changing winds: A wave of partnership, acquisitions and deals bring money back to biotech VCs
The long-predicted surge of merger and acquisition activity has finally struck the highly fragmented life sciences sector. This KnowledgeLine explores the consolidation mania sweeping through the biotech industry — a trend that is already transforming how life sciences companies secure the resources needed to build sustainable businesses and develop innovative medical products.