Your SlideShare is downloading. ×
US Healthcare Reform and Impact On Pharma and Healthcare IT Companies
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×

Saving this for later?

Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime - even offline.

Text the download link to your phone

Standard text messaging rates apply

US Healthcare Reform and Impact On Pharma and Healthcare IT Companies

1,675
views

Published on

US Healthcare Reform and Its Impact on Pharma and Healthcare Companies: …

US Healthcare Reform and Its Impact on Pharma and Healthcare Companies:
Implications Current and Future

Presented at the Edison Ventures Pharma and Healthcare Business Solutions Executive Meeting Lawrenceville, NJ
April 20, 2010


1 Comment
4 Likes
Statistics
Notes
No Downloads
Views
Total Views
1,675
On Slideshare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
0
Comments
1
Likes
4
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. US Healthcare Reform and Its Impact on Pharma and Healthcare Companies Implications: Current and Future Pharma and Healthcare Business Solutions Executive Meeting Lawrenceville, NJ April 20, 2010
  • 2. A Poll About The Future of Health Reform – What Do You Think?  Wealth of Opportunity OR  Money Down the Drain
  • 3. Facts and Figures - Did You Know…  1 out of 10 of iPad purchases were made by health providers  70% of Physicians will be using Internet-enabled Smart Phones by 2011
  • 4. Facts and Figures - Did You Know (cont.)…  The United States entered 2010 with a population of more than 308.4 million  16.2% of Americans are currently uninsured
  • 5. Facts and Figures - Did You Know (cont.)…  Health care expenditures in the United States surpass $2.2 trillion per year  The cost of healthcare reform is projected at $940 billion over 10 years…$94 billion/year …WHILE 2010 Census is projected to cost as much as $14 billion
  • 6. Facts and Figures - Did You Know (cont.)…  33 cents of every dollar spend on healthcare is spent on non-clinical activities ($726 Billion per year???)  The bulk of spending in the HITECH Act, more than $17 billion, will go towards incentives for hospitals and healthcare professionals to encourage the widespread adoption of EHRs  EHR is estimated to save roughly $80 billion per year by reducing paperwork, medical errors and costs, saving lives and saving dollars
  • 7. PERSPECTIVE: Key Components of the Reform For the purposes of this discussion, we have confined Health Care Reform to the following: 1. HITECH Act 2. Patient Protection and Affordable Care Act & Health Care 3. Education and Reconciliation Act
  • 8. Healthcare Reform of 2010 HITECH Act and the EHR Mandate  $50 billion in funding dedicated to this effort  Roughly 1/3 dedicated to EHR implementation  Positive implications  Real-time longitudinal health knowledge - any time, any where  Reduced errors  More intelligent care – with better communication and documentation  Automated workflows  Reduced costs  Some unanswered questions…  DEFINING EHR? EMR? PERSONAL HEALTH RECORD? DATA EXCHANGES?  Certification??? Standards still being developed and refined
  • 9. Healthcare Reform of 2010 (cont’d)  Patient Protection and Affordable Care Act & Health Care and Education and Reconciliation Act = Healthcare for All  Massive implications  Financial health of the nation  Healthcare stakeholders:  Patients and Caregivers (Consumers)  Employers  Insurers  Government  Physicians and Other Healthcare Professionals  Pharma  Reimbursements, rebates and discounts  Medicare Part D  Sunshine provisions  Comparative effectiveness  Drug and device research and clinical trials  Drug labeling
  • 10. Thoughts for Discussion  How will Healthcare Reform impact the business of your clients?  How will it affect your Business?  Where are your opportunities?  What are you currently doing in response to the reform to capitalize on it now?  How do you plan on addressing or changing in the long-term?  What are the risks?  What will be your emerging markets?
  • 11. Our View of How the Reform Will Effect Healthcare  Broader Healthcare Coverage – Healthcare for Everyone or Simply Insurance for Most?  Primary Care and Geriatric Physician shortages exacerbated  Access issues  Changes in physician compensation structures  Changes in care structure  Physicians will increasingly become less independent and act more as leaders of multi-disciplinary teams…the Medical Home  Expanded roles, knowledge and certifications for other healthcare providers?  Budget centricity and rationing (versus patient-centric care)  Focus shift from disease to health management  “Financially-driven” collaboration between Government/Provider/Payor/Industry – What Can We Do Together to Benefit the Patient
  • 12. Our View of How Reform Will Effect the Pharma Industry  Larger consumption base  Decreased price margins (including generics)  Expectation to fund part of reform  Improved Image??? ?  More visibility  Required transparency  Sunshine Act requires funding transparency  Higher level of competition – based on price AND effectiveness  A greater focus on share of voice with the patient  Health information and health management  Cost and Effectiveness Awareness  Intervention, compliance and engagement strategies  Expanded focus and new relationships with other healthcare constituents, such as payors, government, employers, pharmacies and pharmacy-benefit managers  Innovative market access and pricing strategies
  • 13. Outlook: Near-Term Opportunities for Pharma/Healthcare Vendors Healthcare Reform Will Deliver Immediate $$$ Opportunities for Solutions Providers Focused On:  Regulatory compliance, including aggregate spend and samples reporting  Stakeholder mapping and insights  Direct to consumer disease awareness and education  Patient compliance  Cloud computing  Data security and management  Privacy  EHR Back-office Support/Paper conversion
  • 14. Our Crystal Ball: Where Can Pharma/ Healthcare Vendors Make $ Long-Term  Next wave of CRM: Cross-Collaboration Focus  eCommunities of practice for multi-stakeholder cross-collaboration  On-the-go technologies (iPad) and apps that enable direct to consumer, patient and professional education, collaboration, and relationship management  Speech recognition devices  Data analysis, predictive modeling and automated intelligence around clinical research, outcomes and marketing science  Pharmacovigilence  Data management and storage  Web-based health support  Patient health awareness and intervention assistance  “All Digital” Hospitals and Mobile Clinics  Green considerations  Evolution of CROs
  • 15. In Closing – What Do You Think Now?  Wealth of Opportunity OR  Money Down the Drain