New Technologies Impacting the Future of Healthcare

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Link to view the on-demand webinar of this presentation: http://www.frost.com/prod/servlet/analyst-briefing-detail.pag?mode=open&sid=264649397

With increasing emphasis on cutting healthcare costs while enhancing the patient experience, there is much debate on the future of healthcare in the United States. This presentation investigates the specific needs of the market as well as evolving consumer preferences, discussing the changing technology environment that works toward fulfilling those needs. The presentation segments the discussion based on different components of the patient cycle.

• Learn about the changing healthcare market
• Identify drivers and challenges for industry growth
• Discover innovative technologies that have the potential to change the healthcare environment
• Ask the analyst your most pressing questions during the live Q&A session

This presentation will benefit all providers of the healthcare market. It will provide insight for medical device manufacturers, hospital decision makers, insurance providers, healthcare IT developers, home care product developers, and other healthcare providers that are interested in learning about future changes in the healthcare environment.

Supporting Quotes
"A slow economy, healthcare reform, increasingly aware patients, and the rising influence of IT technologies in the recent years are causing a shift in the way we conduct healthcare business today,” said Frost & Sullivan Senior Industry Analyst Aarti Shetty. “These changing tides will favor those companies that truly understand what patients and their physicians need and, thereby, provide solutions that are efficient as well price-friendly.”

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New Technologies Impacting the Future of Healthcare

  1. 1. Technologies that will Impact Healthcare of the Future Are we Ready to Tackle Consumer Expectations? Aarti Shetty, Senior Industry Analyst Healthcare 08/22/2012© 2012 Frost & Sullivan. All rights reserved. This document contains highly confidential information and is the sole property ofFrost & Sullivan. No part of it may be circulated, quoted, copied or otherwise reproduced without the written approval of Frost & Sullivan.
  2. 2. Today’s Presenter Aarti Shetty, Senior Industry Analyst Frost & Sullivan Over 5 years of research expertise, which include business and scientific/academic research Experience base covering broad range of sectors, leveraging long- standing working relationships with leading industry participants’ Senior Executives - Orthopedics, Medical Imaging, Obesity Devices, Biomaterials, Wound Care, Tissue Engineering and others 2
  3. 3. Focus Points• Healthcare of the Future• Discussion on Influencing Factors• Patient Cycle Segments• Innovative Technologies in Each Segment• Summary 3
  4. 4. Poll QuestionAccording to you, what is the most important issue to tackle in the next 10 years:• Curtailing healthcare costs• Providing access to healthcare to all• Consumers taking personal responsibility of their health 4
  5. 5. Healthcare of the FutureWhy should we start thinking about healthcare of the future?• Aging baby boomers• Informed patient population• Power of technology• Increasing healthcare costs 5
  6. 6. National Healthcare Expenditures $3,000 Expenditures ($ Billions) $2,500 $2,000 $1,500 $1,000 $500 $0 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Medical Devices Market: Device Spend as Percent of National Healthcare Expenditure, United States, 1989-2009 6.4% 6.2% 6.0%Expenditures (%) 5.8% 5.6% 5.4% 5.2% 5.0% 4.8% 4.6% 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Source: Frost & Sullivan analysis. 6
  7. 7. Market Drivers and Restraints Discussion Medical Devices Market: Key Market Drivers and Restraints United States, 2012-2018 1-2 years 3-4 years 5-7 years Patient demographics create the demand for new technologies that improve quality of life and reduce the risk of procedural complications. Care models focused primarily on wellness and preventionDrivers should lead to earlier detection and higher utilization. Telehealth and demand in care settings outside of the hospital necessitates new/modified devices. Underserved treatment segments including neurology and pulmonary represent growth opportunities in the market. Government influence on regulatory process impacts time- to-market and adoption.Restraints Complex purchasing environment requires building consensus among various influencers that impact decisions. On-going reimbursement cuts and cost-containment measures in United States healthcare have restricted the market. Impact: High Medium Low Source: Frost & Sullivan analysis. 7
  8. 8. Segmentation by Activity Healthcare Spending by Type of Activity 8
  9. 9. Patient Satisfaction is Central to the Success of Providers Hospitals Promoting New Policies, Guidelines, Importance of Patient Satisfaction on Hospital’s or Initiatives in Last 12 Months to Improve Financial Health Patient Satisfaction 6% 18% 82% 94% Very Important Somewhat Important Promoting Not Promoting Neither Important Nor Unimportant Somewhat Unimportant Very UnimportantNote: N=17 hospital CFOs surveyed in 2011. 9
  10. 10. Patient Comfort and Satisfaction Consumer experiences in other markets affecting Key success factors expectations from healthcare: • Utility • Ease of use Retailing • Engaging, not sterile & Finance Customer service focus Comparison shopping Manufacturing Self-service, online shopping & Distribution Special offers Faster time to market One stop shop ConsumerConsumers expect Anytime anywhere Expectations real time info at pt care of consumptionInfo comes to consumer 24 / 7 / 365 support to Ability to control and customize use and resolve questions,Consumers expect service features high levels of One stop resolution, or Consumer controls interaction call back interaction and Q&A in face to Proactive outreach to Entertainment face encounters address issues & Media affecting consumer Customized products Home services 10
  11. 11. Shift in Focus Source: Frost & Sullivan analysis. 11
  12. 12. Preventative Technologies
  13. 13. Markets in Preventative Healthcare Markets Patient Education Aging in Place Remote Monitoring Devices•Patient Education: Patient education include systems that provide information, whether they may be mobile or online guides,about a specific medical condition or instructions for post-treatment care.•Out of Hospital Elderly Care: Out of hospital elderly care include services that allow elderly patients to manage their healthwithin the comfort of their own home and send such information to their healthcare providers.•Remote Monitoring Devices: Remote monitoring devices are devices that allow patients to monitor their health within thecomfort of their own home and send such information to their healthcare providers.
  14. 14. Technology Showcase - Preventative Market Patients Like Me • Social networking site: members connect with patients with similar medical conditions • Learn and share information about treatment methods, how to check for symptoms, and how to monitor their health. • Patients who are new to certain medical conditions can learn from real life outcomes Patient Patients eNeighbor Exit Care iTriage WebMD Pill Alerts Logicare EDU Like MeHealthsense eNeighbor Pill Alerts• Remotely detects movement and vital signs • Ingestible pill that alerts physicians and care givers• Allows physicians and family members to log in when swallowed through a signal emitted by ato the eNeighbor System to retrieve information microchip and antenna within the pill capsuleabout patient’s activity and current medical •The signal is transmitted to an external electronicstatuses device that can provide information to computer or cell phone •Device is powered by a low voltage charge from the external electronic device, does not require a battery
  15. 15. Diagnostic Technologies
  16. 16. Overview of Diagnostic Technologies• Records Reform• Self-Diagnosis• Molecular Diagnostics• Mobile Applications• Remote Monitoring 16
  17. 17. Technology Showcase - Diagnosis Market Streamline Health • Enterprise solutions and services for content management and integration •Patient financial services solutions •Health information management solutions Patient Streamline 23andme MASH Allscripts eClinicalWorks Cardioscan Secure Health23andme-Genetic testing to predict future health profile eClinicalWorks-Consumers send in a sample of their spit to - Intuitive electronic medical record system thatanalyze improves quality of care for patients-Results show how genes will impact health of the - Allows patients to communicate with their physiciansindividual and list disease risks and drug response through a Patient Portal and provides important medical educational information - Provides a management tool for appointments, medical bills, and important data
  18. 18. Treatment Technologies
  19. 19. Overview of Treatment Technologies• Disease Management • Prevention Control • Management of Chronic Diseases• Miniaturization• Personalization• Surgery • Robotics • Minimally Invasive Tools 19
  20. 20. Technology Showcase -Treatment Market M7 Bot •Telepresence surgery device that allows doctors to perform surgical procedures from anywhere in the world via Ethernet or radio link •Controls are intuitive for surgeons, offers force feedback equipped controls and high definition sound and optics Titan Radianse Xenex HyGreen Sensiotec IMPRESS Da Vinci M7 Bot Medical SystemHyGreen Radianse System• Hand hygiene recording and reminding system • Used to track, monitor, and locate patients, doctors,• Protect patients and staff from HAI and expensive equipment within the hospital in real•Lower costs by lowering infection time •Comprised of ID-Tags, wall mounted receivers, an application server, and a suite of web based software applications •Real time interaction data between patient and staff is combined with clinical data
  21. 21. Poll QuestionAccording to you, advancement in which component of the patient cycle should be prioritized in the next 10 years:• Prevention• Diagnosis• Therapeutics• Treatment 21
  22. 22. What does the future hold? 1 Reimbursements for healthcare providers will include a prevention component. Newer methods of treatment to move patients from hospital to home 2 settings will emerge Consumers will begin to take an increased responsibility for their own 3 health. Source: Frost & Sullivan analysis. 22
  23. 23. Next StepsDevelop Your Visionary and Innovative Skills Growth Partnership Service Share your growth thought leadership and ideas or join our GIL Global Community Join our GIL Community Newsletter Keep abreast of innovative growth opportunities 23
  24. 24. Your Feedback is Important to Us What would you like to see from Frost & Sullivan?Growth Forecasts?Competitive Structure?Emerging Trends?Strategic Recommendations?Other? Please inform us by “Rating” this presentation. 24
  25. 25. Follow Frost & Sullivan on Facebook, LinkedIn,SlideShare, and Twitter http://www.facebook.com/FrostandSullivan http://www.linkedin.com/companies/4506 http://www.slideshare.net/FrostandSullivan http://twitter.com/frost_sullivan 25
  26. 26. For Additional InformationBritni Myers Aarti ShettyCorporate Communications Senior Industry AnalystHealthcare Healthcare(210) 477-8481 (650) 475-4552britni.myers@frost.com aarti.shetty@frost.comVenkat Rajan Joe StokenIndustry Manager Sales ManagerAdvanced Medical Technology Healthcare(210) 247-2427 (650) 475-4537venkat.rajan@frost.com joe.stoken@frost.com 26

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