The Global Tilt and Why You Must Rethink the Future of Medical Technology

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US medical device manufacturers today are facing a new set of variables that threaten its global leadership role in a growing global market – a geopolitical shift from the North Atlantic to the Indian …

US medical device manufacturers today are facing a new set of variables that threaten its global leadership role in a growing global market – a geopolitical shift from the North Atlantic to the Indian Ocean, an economic tilt from the northern hemisphere to the southern hemisphere, increasing government intervention in mature healthcare markets to limit the cost of healthcare, increasing government regulation limiting innovation in therapeutic segments, an aging global population, the threat of aggressive competitors from emerging markets, and as multinationals scramble to avoid “not-so-creative” destruction. Tom will examine several of these key variables and extrapolate new insights for the medical device professional on how to survive and thrive during this tumultuous period of change and opportunity. He will also provide “personal-branding” insights gained over thirteen years while assisting over one thousand executives, managers, and professionals who have chosen to reinvent themselves to make better use of their gifts or as a response to being downsized. (This widely acclaimed presentation was presented at the Marcus Evans Medical Device Summits in December 2013 and June 2014.)

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  • D-Rev is a non-profit product development company that designs and delivers products to people living on less than $4 a day.
    When companies talk about serving emerging markets, they really mean is that they are serving the highest income people in emerging markets.
    Phototherapy device – to treat severely jaundiced babies. As good as or better at $400 vs $3500.
    Knee - $80 for a good, high performance polycentric knee. Comparable is $6000.

  • Offers a wide range of medical services
    Lab testing
    School physicals
    Chronic condition management
    70% of americans live within 3 miles of a drug store.
    Source: Novartis

Transcript

  • 1. RESET: The Global Tilt - Why You Must Rethink the Future of Medical Technology . Marcus Evans June 26, 2014 Thomas M. Loarie, Executive Chairman
  • 2. eMedonline Medication Therapy Management Platform 2 7/9/2014 • Designed from the patient out • Value propositions • Proven behavior change • Data and analytics • Scientifically based (Parks) • 98% Compliance • 10 controlled clinical studies • Managing patients taking up to 27 meds/day
  • 3. eMedonline 3 7/9/2014
  • 4. Markets • Care Transition • Chronic Care Management • Specialty Pharma • Clinical Trials • Analytics for Pharma & Providers 4 7/9/2014
  • 5. Road Map • The Evolution of Healthcare in My Lifetime • Global Drivers of Transformation • Reactions to Forces • Foundation of Globalization • Future Medtech Opportunities • What Does This Mean for You? 5 7/9/2014
  • 6. Transforming Events 1960-2014 House Calls Hospital •For Profit Hospitals •HMOs •Hospitals M&A 1970 1980 1990 2000 20101960 •Segmentation •Doc in the Box Health Reform
  • 7. Transforming Events 1960-2014 Social Security Act of 1965 •FDA Modernization Act •CMS takes front seat Cuts in Funding to AeroDefense •TEFRA •DRGs •Segmentation •Marketing •Kessler FDA •M&A Globalization •The Great Recession •Implosion of Venture Capital •Health Reform •ACOs •M&A Hospitals 1970 1980 1990 2000 20101960 •GoldStandard •Emergence of Multi-National •FDA Act Transforming Events 1960-2014
  • 8. 8 7/9/2014
  • 9. Global Drivers of Transformation 9 7/9/2014 • Technological advances • Demographic changes • Global Networks • Global economic shifts • Urbanization • Resource scarcity • Climate
  • 10. 10 7/9/2014
  • 11. Global Population 1950 - 2050 11 7/9/2014
  • 12. Death of Silos & Growth of Global Networks 12 7/9/2014
  • 13. Virtual currency and payment systems 13 7/9/2014
  • 14. US Companies are Broken Many Don’t Know It 14 7/9/2014
  • 15. Forces Disrupting the Balance in Healthcare 15 7/9/2014 • > Aging population • > Chronic disease • > Public spending • > Taxpayer revolt • > Global middle class
  • 16. 16 7/9/2014
  • 17. 17 7/9/2014 25 % 25 % Of Costs
  • 18. Big Need - Solutions to Manage Costliest Chronic Diseases 18 7/9/2014
  • 19. 19 7/9/2014
  • 20. The Global Middle Class is Booming P. 20 7/9/2014
  • 21. New Health Care Economy - US 21 7/9/2014 • FFS to Value Based Pay • Risk Shifting to Providers • Care Mgmt Shifting to Doc • Incomes Tied to Outcome and Volume • Clinical and Economic Evidence
  • 22. 22 7/9/2014 Figure 3. Potential points of innovation Shiftdelivery from discreteservicesbased organizations (e.g. specialists) to team based models that address a patient’s overall need Care delivery model Transition from dominant payment models (FFS or Global Capitation) to reimbursement models that reward providers for improving the value of care Payment model Value-driven care Network model Move from competitive single tier networks to multi- site networks that address adequacy yet support superior services delivery Transitionfrom measurement of process based compliance and cost of charges to activity based cost accounting and outcomes tracking Analytics & outcomes Clinical integration Reorganizeproviderfacilities to focused factories with defined niche services and concentratedvolume to integratecare Information Technology Integration technology that transitions from siloed systems leveraging aggregation of data, connectivity to all stakeholders and experts systems that allow for seamless sharing and engagement
  • 23. New Entrants 23 7/9/2014 Of Fortune 50 companies, 24 are new entrants The top companies also include 14traditional healthcare organizations Fortune 50 companies 7 Retailers 14 Traditional healthcare companies 24 New entrants 5 Technology 4 Finance $$$$ 3 Telecommunications 2 Automotive 3Consumer products
  • 24. Disruptors 24 7/9/2014
  • 25. D-Rev Non-profit medical product development company 25 7/9/2014 Designs and delivers products for people living on less than $4 a day.
  • 26. Disruptors 26 7/9/2014
  • 27. 27 7/9/2014
  • 28. 28 7/9/2014
  • 29. 29 7/9/2014
  • 30. Globalization of U.S. Medical Care 30 7/9/2014 • Global distribution of U.S. developed devices and drugs • OUS clinical research • Reverse brain drain • physicians & engineers • Manufacturing expanded OUS • U.S. multi-nationals expanding OUS product research
  • 31. Disruptors - OUS 31 7/9/2014
  • 32. Destination Medicine 32 7/9/2014
  • 33. Destination Medicine AKA Medical Tourism 33 7/9/2014
  • 34. Expansion into Emerging Markets 34 7/9/2014
  • 35. Globalization U.S. based > research centers in China 35 7/9/2014
  • 36. Generic Therapeutic Devices A threat to legacy margins 36 7/9/2014
  • 37. Globalization China based > U.S. presence 37 7/9/2014
  • 38. Globalization of Delivery 38 7/9/2014
  • 39. Globalization of Delivery 39 7/9/2014
  • 40. eHealth Predicting Asthma Attacks 40 7/9/2014
  • 41. “What is the Meaning of Your Life? The World is Asking You That Question…” -Viktor Frankl 41 7/9/2014
  • 42. 42 7/9/2014
  • 43. 43 7/9/2014
  • 44. Shape Your Identity or It Will Shape You 44 7/9/2014
  • 45. 45 7/9/2014
  • 46. Global Experience 46 7/9/2014
  • 47. The Two Most Important Days In Your Life…. …are the day you are born and the day you find out why! - Mark Twain 47 7/9/2014