This document discusses accountability in the healthcare industry. Key points include:
- Healthcare providers, insurers, life sciences companies, and other stakeholders face increasing demands for cost control while improving quality of care and making the system more patient-centric.
- The Affordable Care Act aims to provide affordable healthcare to more Americans and represents an irreversible trend toward greater accountability in the industry.
- All players must find new business models using collaboration and data analytics to navigate this changing environment focused on evidence-based and patient-centric care.
This document summarizes a virtual conference on market access in the era of specialty and biotech drugs. It notes that by 2016, 8 of the top 10 worldwide drugs will be specialty drugs. It also discusses industry trends of developing more targeted therapies, a substantial pipeline of specialty drugs, and the need to demonstrate value to payers facing high costs. Upcoming sessions at the conference will address recent payment developments like accountable care organizations, comparative effectiveness research, and CMS coverage policies.
The document discusses several major trends in the US healthcare industry in 2014 as the Affordable Care Act continues implementation. Key points include:
1) Companies are reinventing themselves and blurring traditional lines as insurers seek to directly manage healthcare delivery to control costs, providers enter the insurance business, and retailers expand healthcare services.
2) With traditional venture capital pulling back from healthcare, corporate venture arms are investing more heavily in startups, bringing cash as well as expertise, connections, and other resources.
3) Employers are increasingly interested in private health insurance exchanges as a way to define their contribution while giving employees more choice and potentially reducing administrative costs and budget unpredictability.
The document discusses 11 healthcare megatrends that are reshaping the industry:
1) Consumers Take Charge - Consumers are demanding more information on costs and quality to make informed healthcare decisions as plans shift more costs to consumers.
2) More with Less: From Volume to Value - Payment models are shifting from fee-for-service to value-based models to reduce costs through care coordination and preventative care.
3) Focus on the Whole Person - Providers are taking a more holistic approach to care that considers behavioral, social, and environmental factors.
Healthcare systems around the world are fraught with challenges that reveal the cracks in today's operating models. But a nascent trend that is quickly becoming an imperative is poised to transform the industry: the consumerization of healthcare. By promoting and supporting more control, awareness, and responsibility on the part of the consumer, healthcare companies can drive a dramatic improvement in population health and reduction in costs.
Accenture Transformative Power of Healthcare Technology M&A in Life Science 2015Arda Ural, MSc, MBA, PhD
Explosive advances in healthcare technology are enabling new opportunities for technology mergers and acquisitions (M&A) that focus on improving patient outcomes. Digital technologies allow for enhanced patient services and care. Pharmaceutical companies are increasingly engaging in M&A deals and partnerships with medical device and technology companies to develop new business models and position themselves for future growth. Healthcare is undergoing a fundamental shift that is forcing new collaborations across industries to leverage technology for managing health.
Grant Thornton - Healthcare M&A Snapshot 2012Grant Thornton
The document summarizes M&A activity and trends in the healthcare industry in 2011. There was approximately 1,250 healthcare transactions in 2011, a nearly 10% increase from 2010, making it one of the most active deal markets. Issues like healthcare reform, rising costs, expiring drug patents, and digital health records are fueling M&A activity. The Supreme Court upheld some provisions of the ACA but struck down the Medicaid expansion penalty. Compliance costs have driven small organizations to sell to larger companies.
The document discusses six trends disrupting the health insurance industry: 1) The chronic disease crisis as chronic diseases account for most healthcare costs and require long-term management. 2) The move to outcomes-based payments to better align incentives with health outcomes. 3) The rise of m-health technologies which empower individuals. 4) Big data revolution allowing personalized insights. 5) Focus on customer centricity in insurance. 6) Pressures on underwriting models from these changes. The document proposes a new model of health insurance that shifts from short-term transactions to long-term partnerships to improve behaviors and health through increased data and alignment of incentives.
This document summarizes a virtual conference on market access in the era of specialty and biotech drugs. It notes that by 2016, 8 of the top 10 worldwide drugs will be specialty drugs. It also discusses industry trends of developing more targeted therapies, a substantial pipeline of specialty drugs, and the need to demonstrate value to payers facing high costs. Upcoming sessions at the conference will address recent payment developments like accountable care organizations, comparative effectiveness research, and CMS coverage policies.
The document discusses several major trends in the US healthcare industry in 2014 as the Affordable Care Act continues implementation. Key points include:
1) Companies are reinventing themselves and blurring traditional lines as insurers seek to directly manage healthcare delivery to control costs, providers enter the insurance business, and retailers expand healthcare services.
2) With traditional venture capital pulling back from healthcare, corporate venture arms are investing more heavily in startups, bringing cash as well as expertise, connections, and other resources.
3) Employers are increasingly interested in private health insurance exchanges as a way to define their contribution while giving employees more choice and potentially reducing administrative costs and budget unpredictability.
The document discusses 11 healthcare megatrends that are reshaping the industry:
1) Consumers Take Charge - Consumers are demanding more information on costs and quality to make informed healthcare decisions as plans shift more costs to consumers.
2) More with Less: From Volume to Value - Payment models are shifting from fee-for-service to value-based models to reduce costs through care coordination and preventative care.
3) Focus on the Whole Person - Providers are taking a more holistic approach to care that considers behavioral, social, and environmental factors.
Healthcare systems around the world are fraught with challenges that reveal the cracks in today's operating models. But a nascent trend that is quickly becoming an imperative is poised to transform the industry: the consumerization of healthcare. By promoting and supporting more control, awareness, and responsibility on the part of the consumer, healthcare companies can drive a dramatic improvement in population health and reduction in costs.
Accenture Transformative Power of Healthcare Technology M&A in Life Science 2015Arda Ural, MSc, MBA, PhD
Explosive advances in healthcare technology are enabling new opportunities for technology mergers and acquisitions (M&A) that focus on improving patient outcomes. Digital technologies allow for enhanced patient services and care. Pharmaceutical companies are increasingly engaging in M&A deals and partnerships with medical device and technology companies to develop new business models and position themselves for future growth. Healthcare is undergoing a fundamental shift that is forcing new collaborations across industries to leverage technology for managing health.
Grant Thornton - Healthcare M&A Snapshot 2012Grant Thornton
The document summarizes M&A activity and trends in the healthcare industry in 2011. There was approximately 1,250 healthcare transactions in 2011, a nearly 10% increase from 2010, making it one of the most active deal markets. Issues like healthcare reform, rising costs, expiring drug patents, and digital health records are fueling M&A activity. The Supreme Court upheld some provisions of the ACA but struck down the Medicaid expansion penalty. Compliance costs have driven small organizations to sell to larger companies.
The document discusses six trends disrupting the health insurance industry: 1) The chronic disease crisis as chronic diseases account for most healthcare costs and require long-term management. 2) The move to outcomes-based payments to better align incentives with health outcomes. 3) The rise of m-health technologies which empower individuals. 4) Big data revolution allowing personalized insights. 5) Focus on customer centricity in insurance. 6) Pressures on underwriting models from these changes. The document proposes a new model of health insurance that shifts from short-term transactions to long-term partnerships to improve behaviors and health through increased data and alignment of incentives.
The Strategy of Identifying Solid Investment Opportunities in HealthcareTamas Ban, PhD, MBA
Consumerism in the healthcare industry is an inescapable growing trend. Patients are increasingly taking an active role in their care experience and are ever more empowered to choose their own care alternatives.
The key to driving a more consumer-based healthcare experience is to devise a cost-effective method to capture and analyze such information.
Healthcare is transforming into value-based healthcare, requiring investors to adjust their investment risk measures.
At the crossroads of healthcare and innovation lies service platform technologies. Hardware and service technologies will finally meet in 2016 to enable patient-centered healthcare services.
New key performance indicators (KPls) are necessary to measure patient outcomes, and new service platform technologies will use these new KPls.
Successful investments in healthcare ventures must show a positive impact on healthcare. The impact can be measured by cost, outcome, and alignment of incentives across payers, providers, and patients.
The 100-year-old methods used to measure the effects of medicine do not allow for personalization. Service platforms will bridge this gap.
Continuity of care relies on increasing the number of touch points, which service platform technologies will expand. They will also lead to connecting patients, providers, and payers to increase efficiency of patient care.
This paper will highlight a Quick Healthcare Value Assessment Tool for the investor.
Focused on trends and challenges of healthcare industry and technologies which we are seeing and we may see in future. Included information like healthcare industry overview, healthcare apps and wearables, etc.
The document summarizes the top 10 health industry issues for 2015 according to PwC's Health Research Institute. The issues include the rise of do-it-yourself healthcare using mobile apps and devices, balancing privacy and convenience with health data on mobile platforms, innovative ways to reduce costs for high-need patients, value-based payment models, expanding roles for physician assistants and nurses, and the need for partnerships and collaboration across the healthcare industry.
The pharmaceutical industry faces an identity crisis as the competitive landscape changes rapidly. The document outlines four potential strategies for pharmaceutical companies: 1) Breakthrough science developers focus on developing new medicines through strong R&D. 2) Disease outcome enablers build expertise in specific therapeutic areas and support patients. 3) Commercial value optimizers leverage large global networks and efficient operations. 4) Disciplined portfolio managers operate diversified business units but face integration challenges. To succeed, companies must evaluate their current strategy and capabilities to ensure they can outperform competitors given new industry dynamics.
mHealth Israel: PwC emerging mhealth paths for growthLevi Shapiro
Emerging mHealth holds great potential to improve healthcare access, costs and quality through ubiquitous mobile devices. However, widespread adoption faces challenges from healthcare's resistance to change and the need to navigate complex, fragmented systems. Expectations for mHealth are high among patients, doctors and payers, but most experts expect slower adoption as improving patient care often disrupts traditional models. Emerging markets are pioneering mHealth by leaping ahead through greater needs and fewer barriers, showing the path could be smoother where systems are less rigidly established.
The document discusses several key trends in the U.S. healthcare system: 1) Healthcare spending in the U.S. is the highest in the world at 16.4% of GDP but results in low quality of care rankings; 2) In response, the system is focusing on controlling costs and improving quality which has led to consolidation of hospitals and physician practices; 3) This has shifted medical equipment purchasing decisions from doctors to healthcare executives focused on total cost of ownership. Equipment financiers must address both clinical and financial concerns to help vendors navigate this changing landscape.
Employer drug plans are facing unsustainable rising costs of 10% per year due to factors within the current system. While increased drug usage and new drugs contribute to higher costs, the major drivers are a lack of evidence-based formulary management, under-utilization of lower-cost generics, and non-transparent pricing and dispensing fee practices. With costs being passed on to customers and employees, reforms are urgently needed to reduce unnecessary spending and rein in unsustainable cost increases.
1) The payment models in healthcare are shifting from fee-for-service to value-based models that tie reimbursement to quality outcomes and cost savings. This transition is being driven by rising healthcare costs, the Affordable Care Act, and commercial insurers.
2) Providers now need to accelerate preparations for managing clinical and financial risk through value-based contracts. This requires changes to business models, physician alignment, and supporting patients through the transition.
3) For organizations to succeed under value-based contracts, they must define population health strategies, implement coordinated care delivery models, and carefully sequence clinical and financial transformations to capture savings while maintaining stability.
The document analyzes the hospital industry through a PEST analysis, Porter's Five Forces model, and discussion of key success factors. It finds that political factors like the Affordable Care Act significantly impact hospitals. Competition is high within the industry. Bargaining power of suppliers and buyers is moderate. The most important success factors are reinventing the patient experience, having a diverse set of medical professionals, and leveraging innovative technology. Overall, the industry is currently unattractive for new entrants.
The document discusses the ethical issues surrounding healthcare marketing as competition in the industry has increased. It outlines how hospitals have focused on reducing costs while still attracting new patients. Specifically, it examines the various marketing tactics used by hospitals, such as advertising quality awards, and how some of these approaches could compromise ethical standards. The document also analyzes patients' perspectives and how their access to information has grown in the digital age, posing new challenges for healthcare providers to ethically market their services.
Etude PwC "Global health’s new entrants: Meeting the world’s consumer" (mars ...PwC France
http://bit.ly/GlobalNewEntrants2015 - Le marché mondial de la santé, estimé à 9 590 milliards de dollars, est ouvert aux innovations capables de compléter, voire de se substituer à l’interaction traditionnelle soignant-patient dans les économies matures comme dans les pays en développement. C’est ce que révèle l’étude « Global health’s new entrants: Meeting the world’s consumer », publiée aujourd’hui par PwC.
Global new entrants are resetting the axes of the global healthcare and welln...PwC
New entrants from outside the traditional business of healthcare are redefining the US$9.59 trillion global healthcare market for consumers, providers, payers, and investors in both developed and developing nations. These “new entrants” are pioneering pathways into virtual healthcare, more affordable and convenient care options, wellness and fitness, and more.
In our report, PwC provides a global perspective on health's new entrants and how these savvy, entrepreneurial players are bringing consumer acumen, innovative business models and fresh ideas to address longstanding challenges. We explore:
The Leapfrog Effect: Why new entrants can innovate faster in developing countries
How new entrants are spurring the “virtual democratisation of care”
How new entrants are filling gaps in a global consumer health system
The path of least resistance: How the wellness and fitness industry may offer a more flexible entry for businesses considering ways to enter the healthcare sector
The report also includes case studies and business implications for new entrants, traditional healthcare organisations and the pharmaceutical and life sciences industry.
How do we see the healthcare's digital future and its impact on our lives?Jane Vita
"Healthcare is undergoing major changes spurred on by, but not limited to, technology.
Digitalisation is changing the way we think about health, what taking care of it really entails, our personal role in healthcare systems and the way we interact with technology in the context of health.
In many ways, we are entering a post-institutional age of increased personal responsibility, which presents healthcare service providers and other players in the field with major opportunities and great risks. Technology has the potential to empower people and help them become more active in the management of their and their families’ health. This will change the relationship of the patient and the caregiver in profound ways." Mirkka Länsisalo
A co-creation with Mirkka Läansisalo and Sala Heinänen, at Futurice.
The Rise of Value-Based Contracting for Biopharmaceuticals and Medical Techno...Nathan White, CPC
ICON Access, Commercialisation & Outcomes (ACC) - November 2017 Pricing & Market Access Briefing
AUTHORS:
Michael Pace
Senior Principal, Pricing and Market Access
Guy Sherwin
Lead Consultant, EU Pricing and Market Access
A study to explore scope of direct to consumer advertisement dtcaiaemedu
This document summarizes a research study that explored the scope of direct-to-consumer advertising (DTCA) of prescription drugs in India. The study collected data through questionnaires from 50 customers, 50 marketing managers, and 50 doctors in Gujarat, India. Factorial analysis was used to analyze perceptions of DTCA. Key findings included that marketers and doctors were skeptical DTCA would provide clinical benefits, while customers believed it provided treatment information. Physicians agreed DTCA could promote fear but executives and customers disagreed. Regarding effects on the healthcare system, most believed DTCA could increase costs without health gains and lead to over-medication. In conclusion, the study found mixed views with skepticism that DTCA should be allowed in
Health Innovation Frontiers - Untapped Market Opportunities for the 50+Sanjay Khurana
By 2018, the 50+ population is forecasted to spend almost $100 billion, out of pocket, on healthy living solutions. Rarely has such an untapped opportunity existed to generate revenues for entrepreneurs, investors and others in the private sector to generate revenues while meeting the greatest wants and needs of a substantial, influential and important population: people 50 and over. This report looks at investment potential and market dynamics across Nine Identified Areas of Health Innovation for the 50+.
Pharma 2020: Marketing the future Which path will you take?brandsynapse
This document discusses key trends reshaping the pharmaceutical marketplace and how pharmaceutical companies will need to change their marketing and sales models to adapt. It outlines that healthcare payers and providers are gaining more influence over what drugs are prescribed and how they are valued. Pharmaceutical companies will need to prove their drugs deliver clear benefits over alternatives to justify their prices. Direct-to-consumer advertising is becoming less effective at driving sales, while e-prescribing may further reduce drug companies' influence over prescribing decisions unless they collaborate with healthcare stakeholders. Major changes will be needed to the traditional marketing and sales models to be successful in this changing environment.
The document discusses the growing healthcare industry in the US as an opportunity for entrepreneurs and prospectors. It notes that healthcare spending will account for nearly 20% of the US economy by 2019, creating opportunities for companies. Successful prospectors will need to understand the complex healthcare market, build innovative business models, and determine how to provide value for consumers.
The pace of transformation in the US health industry will quicken in 2013 as the effects of the Affordable Care Act, technology, consumerism, and budget pressures take hold.
In 2013, states will be on the frontlines of ACA implementation as they decide whether to expand Medicaid coverage, how to set up insurance exchanges, and what regulations are needed. They face tight deadlines and the challenge of building IT systems as the federal government will intervene where states do not act.
With more individuals gaining coverage through Medicaid expansions and exchanges, the number of "dual eligibles" - those eligible for both Medicare and Medicaid - will rise. States and health plans are increasingly looking to managed care to better coordinate
The Strategy of Identifying Solid Investment Opportunities in HealthcareTamas Ban, PhD, MBA
Consumerism in the healthcare industry is an inescapable growing trend. Patients are increasingly taking an active role in their care experience and are ever more empowered to choose their own care alternatives.
The key to driving a more consumer-based healthcare experience is to devise a cost-effective method to capture and analyze such information.
Healthcare is transforming into value-based healthcare, requiring investors to adjust their investment risk measures.
At the crossroads of healthcare and innovation lies service platform technologies. Hardware and service technologies will finally meet in 2016 to enable patient-centered healthcare services.
New key performance indicators (KPls) are necessary to measure patient outcomes, and new service platform technologies will use these new KPls.
Successful investments in healthcare ventures must show a positive impact on healthcare. The impact can be measured by cost, outcome, and alignment of incentives across payers, providers, and patients.
The 100-year-old methods used to measure the effects of medicine do not allow for personalization. Service platforms will bridge this gap.
Continuity of care relies on increasing the number of touch points, which service platform technologies will expand. They will also lead to connecting patients, providers, and payers to increase efficiency of patient care.
This paper will highlight a Quick Healthcare Value Assessment Tool for the investor.
Focused on trends and challenges of healthcare industry and technologies which we are seeing and we may see in future. Included information like healthcare industry overview, healthcare apps and wearables, etc.
The document summarizes the top 10 health industry issues for 2015 according to PwC's Health Research Institute. The issues include the rise of do-it-yourself healthcare using mobile apps and devices, balancing privacy and convenience with health data on mobile platforms, innovative ways to reduce costs for high-need patients, value-based payment models, expanding roles for physician assistants and nurses, and the need for partnerships and collaboration across the healthcare industry.
The pharmaceutical industry faces an identity crisis as the competitive landscape changes rapidly. The document outlines four potential strategies for pharmaceutical companies: 1) Breakthrough science developers focus on developing new medicines through strong R&D. 2) Disease outcome enablers build expertise in specific therapeutic areas and support patients. 3) Commercial value optimizers leverage large global networks and efficient operations. 4) Disciplined portfolio managers operate diversified business units but face integration challenges. To succeed, companies must evaluate their current strategy and capabilities to ensure they can outperform competitors given new industry dynamics.
mHealth Israel: PwC emerging mhealth paths for growthLevi Shapiro
Emerging mHealth holds great potential to improve healthcare access, costs and quality through ubiquitous mobile devices. However, widespread adoption faces challenges from healthcare's resistance to change and the need to navigate complex, fragmented systems. Expectations for mHealth are high among patients, doctors and payers, but most experts expect slower adoption as improving patient care often disrupts traditional models. Emerging markets are pioneering mHealth by leaping ahead through greater needs and fewer barriers, showing the path could be smoother where systems are less rigidly established.
The document discusses several key trends in the U.S. healthcare system: 1) Healthcare spending in the U.S. is the highest in the world at 16.4% of GDP but results in low quality of care rankings; 2) In response, the system is focusing on controlling costs and improving quality which has led to consolidation of hospitals and physician practices; 3) This has shifted medical equipment purchasing decisions from doctors to healthcare executives focused on total cost of ownership. Equipment financiers must address both clinical and financial concerns to help vendors navigate this changing landscape.
Employer drug plans are facing unsustainable rising costs of 10% per year due to factors within the current system. While increased drug usage and new drugs contribute to higher costs, the major drivers are a lack of evidence-based formulary management, under-utilization of lower-cost generics, and non-transparent pricing and dispensing fee practices. With costs being passed on to customers and employees, reforms are urgently needed to reduce unnecessary spending and rein in unsustainable cost increases.
1) The payment models in healthcare are shifting from fee-for-service to value-based models that tie reimbursement to quality outcomes and cost savings. This transition is being driven by rising healthcare costs, the Affordable Care Act, and commercial insurers.
2) Providers now need to accelerate preparations for managing clinical and financial risk through value-based contracts. This requires changes to business models, physician alignment, and supporting patients through the transition.
3) For organizations to succeed under value-based contracts, they must define population health strategies, implement coordinated care delivery models, and carefully sequence clinical and financial transformations to capture savings while maintaining stability.
The document analyzes the hospital industry through a PEST analysis, Porter's Five Forces model, and discussion of key success factors. It finds that political factors like the Affordable Care Act significantly impact hospitals. Competition is high within the industry. Bargaining power of suppliers and buyers is moderate. The most important success factors are reinventing the patient experience, having a diverse set of medical professionals, and leveraging innovative technology. Overall, the industry is currently unattractive for new entrants.
The document discusses the ethical issues surrounding healthcare marketing as competition in the industry has increased. It outlines how hospitals have focused on reducing costs while still attracting new patients. Specifically, it examines the various marketing tactics used by hospitals, such as advertising quality awards, and how some of these approaches could compromise ethical standards. The document also analyzes patients' perspectives and how their access to information has grown in the digital age, posing new challenges for healthcare providers to ethically market their services.
Etude PwC "Global health’s new entrants: Meeting the world’s consumer" (mars ...PwC France
http://bit.ly/GlobalNewEntrants2015 - Le marché mondial de la santé, estimé à 9 590 milliards de dollars, est ouvert aux innovations capables de compléter, voire de se substituer à l’interaction traditionnelle soignant-patient dans les économies matures comme dans les pays en développement. C’est ce que révèle l’étude « Global health’s new entrants: Meeting the world’s consumer », publiée aujourd’hui par PwC.
Global new entrants are resetting the axes of the global healthcare and welln...PwC
New entrants from outside the traditional business of healthcare are redefining the US$9.59 trillion global healthcare market for consumers, providers, payers, and investors in both developed and developing nations. These “new entrants” are pioneering pathways into virtual healthcare, more affordable and convenient care options, wellness and fitness, and more.
In our report, PwC provides a global perspective on health's new entrants and how these savvy, entrepreneurial players are bringing consumer acumen, innovative business models and fresh ideas to address longstanding challenges. We explore:
The Leapfrog Effect: Why new entrants can innovate faster in developing countries
How new entrants are spurring the “virtual democratisation of care”
How new entrants are filling gaps in a global consumer health system
The path of least resistance: How the wellness and fitness industry may offer a more flexible entry for businesses considering ways to enter the healthcare sector
The report also includes case studies and business implications for new entrants, traditional healthcare organisations and the pharmaceutical and life sciences industry.
How do we see the healthcare's digital future and its impact on our lives?Jane Vita
"Healthcare is undergoing major changes spurred on by, but not limited to, technology.
Digitalisation is changing the way we think about health, what taking care of it really entails, our personal role in healthcare systems and the way we interact with technology in the context of health.
In many ways, we are entering a post-institutional age of increased personal responsibility, which presents healthcare service providers and other players in the field with major opportunities and great risks. Technology has the potential to empower people and help them become more active in the management of their and their families’ health. This will change the relationship of the patient and the caregiver in profound ways." Mirkka Länsisalo
A co-creation with Mirkka Läansisalo and Sala Heinänen, at Futurice.
The Rise of Value-Based Contracting for Biopharmaceuticals and Medical Techno...Nathan White, CPC
ICON Access, Commercialisation & Outcomes (ACC) - November 2017 Pricing & Market Access Briefing
AUTHORS:
Michael Pace
Senior Principal, Pricing and Market Access
Guy Sherwin
Lead Consultant, EU Pricing and Market Access
A study to explore scope of direct to consumer advertisement dtcaiaemedu
This document summarizes a research study that explored the scope of direct-to-consumer advertising (DTCA) of prescription drugs in India. The study collected data through questionnaires from 50 customers, 50 marketing managers, and 50 doctors in Gujarat, India. Factorial analysis was used to analyze perceptions of DTCA. Key findings included that marketers and doctors were skeptical DTCA would provide clinical benefits, while customers believed it provided treatment information. Physicians agreed DTCA could promote fear but executives and customers disagreed. Regarding effects on the healthcare system, most believed DTCA could increase costs without health gains and lead to over-medication. In conclusion, the study found mixed views with skepticism that DTCA should be allowed in
Health Innovation Frontiers - Untapped Market Opportunities for the 50+Sanjay Khurana
By 2018, the 50+ population is forecasted to spend almost $100 billion, out of pocket, on healthy living solutions. Rarely has such an untapped opportunity existed to generate revenues for entrepreneurs, investors and others in the private sector to generate revenues while meeting the greatest wants and needs of a substantial, influential and important population: people 50 and over. This report looks at investment potential and market dynamics across Nine Identified Areas of Health Innovation for the 50+.
Pharma 2020: Marketing the future Which path will you take?brandsynapse
This document discusses key trends reshaping the pharmaceutical marketplace and how pharmaceutical companies will need to change their marketing and sales models to adapt. It outlines that healthcare payers and providers are gaining more influence over what drugs are prescribed and how they are valued. Pharmaceutical companies will need to prove their drugs deliver clear benefits over alternatives to justify their prices. Direct-to-consumer advertising is becoming less effective at driving sales, while e-prescribing may further reduce drug companies' influence over prescribing decisions unless they collaborate with healthcare stakeholders. Major changes will be needed to the traditional marketing and sales models to be successful in this changing environment.
The document discusses the growing healthcare industry in the US as an opportunity for entrepreneurs and prospectors. It notes that healthcare spending will account for nearly 20% of the US economy by 2019, creating opportunities for companies. Successful prospectors will need to understand the complex healthcare market, build innovative business models, and determine how to provide value for consumers.
The pace of transformation in the US health industry will quicken in 2013 as the effects of the Affordable Care Act, technology, consumerism, and budget pressures take hold.
In 2013, states will be on the frontlines of ACA implementation as they decide whether to expand Medicaid coverage, how to set up insurance exchanges, and what regulations are needed. They face tight deadlines and the challenge of building IT systems as the federal government will intervene where states do not act.
With more individuals gaining coverage through Medicaid expansions and exchanges, the number of "dual eligibles" - those eligible for both Medicare and Medicaid - will rise. States and health plans are increasingly looking to managed care to better coordinate
GetPersonalized! Pharma's perspective on the future, Claudia KarnbachSitra / Hyvinvointi
Pharma's perspective on the future, Claudia Karnbach, Head, Global Business Development and Licensing, Specialty Medicine, Bayer Healthcare Pharmaceuticals (USA, New York)
This document discusses opportunities and challenges for medical device companies in the connected health and wearable technology markets. It notes that while wearables and data from patients could help advance personalized medicine and lower healthcare costs, medical device companies are hesitant to enter this space due to unclear business models. Wearables have primarily been consumer products so far, while medical-grade devices require FDA approval and ways to encourage long-term patient use. As healthcare shifts to value-based payment, new technologies must prove clinical value and cost savings to providers to gain adoption.
AI - The Next Frontier for Connected Pharmasambiswal
Big pharma has long been challenged with siloed data resulting from drug discovery information, clinical trial results and product marketing research stored separately in decade-old legacy systems. Thus, the pharmaceutical industry is ripe for the actionable insights offered by these advances to offset the growing costs of drug discovery while still meeting the demands of a value-based care model. It is time for a connected approach in the pharmaceutical industry.
The document summarizes a roundtable discussion hosted by Sidley Austin LLP lawyers on issues at the intersection of life sciences, technology, privacy, and regulation. Panelists from companies like Genentech, GE Ventures, Intel, and 23andMe discussed challenges like navigating privacy concerns with digital health tools, building cross-industry partnerships, and strategically engaging with regulators. When disagreeing with regulators like the FDA, participants advised respectfully pursuing formal processes rather than confrontation. Successful navigation of emerging digital health issues will require open communication, clearly defined goals and measures of success.
MANA Healthcare Marketing Report 2015_FINALMANA LLC
The document discusses trends in healthcare marketing in 2015, including:
1) The Affordable Care Act taking full effect, making Americans more cost-conscious healthcare consumers.
2) Pharmaceutical companies adapting to value-based pricing models that link drug costs to health outcomes rather than volume.
3) Growth of personalized medicine and diagnostics that improve care while reducing costs, though companies face challenges demonstrating value.
4) Rapid growth of telemedicine and remote health monitoring technologies that improve access and efficiency in healthcare.
Commercial considerations in early drug developmentSunil Ramkali
It is important in the drug development process that marketers and researchers collaborate early to ensure that products being developed are truly innovative and deliver brand value to the different end users in a way that the product and the subsequent brand messaging is relevant, compelling and differentiating compared to the competition. T
In the market place that is heavily cost constraint, innovation is no longer about a unique mode of action or a new formulation, but more about the incremental brand value offered by new pharmaceutical products over existing treatments (standard of care) and how much healthcare systems are prepared to pay for these incremental benefits. My lecture at the Department of Innovation, Lund University, Sweden explored the importance of R&D functions getter closer to external stakeholders to really understand their needs, how they define brand value and the importance of considering this early in the drug development process.
This document discusses the emerging "big data" revolution in healthcare and its potential to accelerate value and innovation. It notes that healthcare stakeholders are now gaining access to large amounts of clinical data, claims data, pharmaceutical R&D data, and patient behavior data. Technological advances have improved ability to analyze these diverse data sources while protecting patient privacy. The convergence of greater data availability, demand for insights into reducing costs, and government policies promoting transparency have created a tipping point where big data can play a major role in healthcare. Innovative companies are building tools to make better use of available data, with the potential to substantially reduce healthcare costs in the US.
This document discusses the emerging "big data" revolution in healthcare and its potential to accelerate value and innovation. It notes that while healthcare has lagged other industries in utilizing big data, several converging trends are now bringing the industry to a tipping point. These include rising demand for insights to curb costs, an increased supply of clinical and other healthcare data, technological advances enabling data sharing, and government initiatives promoting data transparency. The document outlines various data sources fueling big data and examines how stakeholders can leverage insights from big data to address issues like variable healthcare quality and rising costs through more effective treatments and reduced readmissions.
Big data revolution_in_health_care_2013_mc_kinsey_reportkate hong
This document discusses the emerging "big data" revolution in healthcare and its potential to accelerate value and innovation. It notes that healthcare stakeholders are now gaining access to large amounts of clinical data, claims data, pharmaceutical R&D data, and patient behavior data. Technological advances have improved ability to analyze these diverse data sources while protecting patient privacy. The convergence of greater data availability, demand for insights into reducing costs, and government policies promoting transparency have created a tipping point where big data can play a major role in healthcare. Innovative companies are building tools to make better use of available data, with the potential to substantially reduce healthcare costs in the US.
At the center of smarter life sciencesis an increasingly more networked operation focused on the end patient. The result is also a safe, effective and valued treatment solution targeted at the patient.
The pharmaceutical industry faces significant challenges adapting to changes in the global market. Growth rates have declined, markets have shifted to specialty drugs, and the blockbuster drug model is declining. To ensure future success, companies must develop new business models that focus on specialty drugs, leverage technology and the internet, resize sales forces, and pursue partnerships and acquisitions. Dramatic changes may be needed, including downsizing by over 50% and moving away from integrated business models, to adapt to more volatile and specialized markets. The future of the industry depends on creative strategies to profit from new opportunities while managing risks and costs.
The document discusses opportunities and challenges for GSK's marketing strategy due to various political, economic, social and technological factors. It analyzes GSK's strengths like focus on R&D and parent synergy, as well as weaknesses like limited liquidity position. Opportunities discussed are launch of new products and growth in healthcare markets like India. Threats include uncertain R&D outcomes and government regulations. The document also discusses trends reshaping the healthcare industry like empowered patients and use of real-world data. Major changes in digital health are driving new opportunities for pharma companies.
The blockbuster drug model of targeting single large indications is becoming less viable as a strategy. However, it is still possible to generate blockbuster revenues through alternative approaches such as diagnostic-led strategies, single-pill combination therapies, and treatment platforms that affect multiple conditions. These new strategies require greater coordination between pharmaceutical R&D and commercialization efforts from an early stage.
Analysis of drivers that cause restricted access to funding for smaller biotech companies.
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venture capitalists and companies are
taking — models such as fail-fast R&D, asset-centric funding and more.
Proposal of a model that
could radically change R&D by taking a
much more holistic approach to drug
development, sharing information to
learn in real time across the cycle of care
and fundamentally changing how risk
and reward are allocated.
Presentation on current state of pharmaceutical drug research and ideas for change. It addresses how the pharmaceutical industry, NIH, Government, HealthCare Law, OIG, Public Health
Case for emerging 9 sustaining oncology innovationyuvrajgill
The document discusses the challenges facing major oncology innovator companies as their traditional cash cow drugs lose market share to biosimilars. It argues that innovators need to look beyond traditional Western markets and consider partnering with emerging markets like India to strengthen their healthcare systems and generate sustainable revenues. This could help build new cash cows to fund future innovation while improving access in populations with high cancer rates. The document outlines how an integrated approach with partners across government, non-profits and hospitals could work to mutually benefit patients, innovators and healthcare systems in emerging markets.
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This document provides an overview of various case studies of HCL Life Sciences providing IT solutions to clients in the healthcare and life sciences industries. It includes summaries of projects involving back office solutions, pharmacovigilance, clinical data management, manufacturing, and more. Specific case studies provide details about clients, their needs, challenges faced, and benefits delivered through solutions implemented by HCL.
CSL Behring implemented a unified global CRM platform called Compass using Oracle Siebel with help from HCL AXon. The platform provides a single customer view across regions and business functions. It allows sales, marketing, medical and customer service teams to collaborate effectively and share key customer insights. The new system is improving customer interactions and helping CSL Behring achieve its goal of serving 1,000 users across 20 markets.
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HCL provided services to help a large Blue Cross Blue Shield health insurer client comply with the ICD-10 regulatory requirement and transition to ICD-10 with minimal business impact. HCL created custom code maps, remediated medical policies with domain experts, and performed analysis to maintain clinical equivalence and payment neutrality during the transition. HCL brought strong healthcare domain knowledge, a dedicated ICD center of excellence with over 500 experts, and proprietary tools to help the client manage the complex mapping scenarios and identify impacts across business and IT applications.
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Medicine expenditure in South Africa decreased slightly by 0.6% in 2012, continuing a downward trend from 2011. This is due to a 0.8% decrease in medicine utilization and a 0.2% increase in medicine item costs. The increased use of generic medicines, which have significantly lower costs, contributed to the decreased expenditure. Top therapeutic groups with the highest expenditure were treatments for hypertension, diabetes, and high cholesterol.
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Accountability in Healthcare: Collaboration and Analytics are Key
1. January 2013 http://www.wipro.com | http://knowledge.wharton.upenn.edu
Knowledge@Wharton-Wipro Future of Industry Series: Accountable Healthcare
Accountability in Health Care:
Collaboration and Analytics Are Key
2. Knowledge@Wharton | WIPRO
Knowledge@Wharton-Wipro Future of Industry Series: Accountable Healthcare
Accountability in Health Care:
Collaboration and Analytics Are Key
The health care industry continues to face demands for cost control, while needing to demonstrate
improvements in quality of care and making care more patient-centric. Policy makers are taking the
lead to achieve these goals. The U.S. Accountable Care Act, signed into law in March 2010 and upheld
by the U.S. Supreme Court in June 2012, identifies these as its core goals. While there seems to be an
equal split between enthusiasts and critics of the ACA, the “trend towards accountability in healthcare
is irreversible, according to Sangita Singh, senior vice president and global business head - healthcare,
”
life sciences and services business at Wipro Technologies. In the emerging environment, health care and
life sciences companies will have to reinvent their business strategies to survive and grow, says Patricia
Danzon, Wharton professor of health care management.
One word defines the meanwhile, struggle to contain overhead and care
opportunities and challenges for the uninsured, while insurers are stingier on
ahead for health care reimbursements. And the insurers themselves are
providers, insurers and now required to provide near-universal coverage.
life sciences companies: In the background, regulators, politicians and
accountability. Everybody public watchdogs are scrutinizing all players more
wants affordable, quality closely than ever, prompted by recent scandals
health care that is more involving drug recalls, inaccurate regulatory
easily accessible. While that reporting and concerns over the pricing of drugs
is the goal, each stakeholder and medical services.
— pharmaceutical
Given such stern tests, health care and life
companies, medical device
sciences companies are reworking business
makers, hospitals and insurers — must navigate
models and using technology more aggressively
their own path forward.
to grow profits. Pharmaceutical companies
Pharmaceutical companies, for example, face are adding generic drugs to their portfolios,
expiring patents on blockbuster drugs, with few expanding in emerging markets and working
others in line to replace them, at the same time harder to find new blockbuster molecules.
they are under attack from cheaper generics. Medical device makers are tapping under-
Medical device makers are being told to lower penetrated emerging markets with cheaper and
costs and innovate for emerging markets. Both often smaller devices. Hospitals are diverting
have to stretch RD dollars even more as investors some procedures to out-patient ambulatory care
raise the bar on expected returns. Hospitals, services, and fine-tuning data analytics to boost
Accountability in Health Care: Collaboration and Analytics Are Key | 2
3. Knowledge@Wharton | WIPRO
patient outcomes. And insurers are demanding BLOCKBUSTER DRUGS, PHARMA’S BEST BET
tighter cost controls and better patient outcomes
For pharmaceutical companies, accountability
from health care providers. The entire health care
in care will bring opportunities, according to
complex is struggling to find a new order.
Singh. True, they are grappling with a diminishing
portfolio of blockbuster drugs, which still generate
ALL ROADS LEAD TO ACCOUNTABLE, the most profits. “But all that is in no way a
EVIDENCE-BASED CARE deterrent to affordable care, the accessibility and
Policymakers are taking the lead in ensuring quality of care a patient can get.”
universal or near-universal healthcare access at The emphasis on accountability begins with new
reasonable cost. The best example, of course, is drug discovery. Until recently, “everything was
the 2010 U.S. Patient Protection and Affordable gold plated in RD, says Singh. “There were no
”
Care Act (ACA) that the U.S. Supreme Court questions asked about the cost of getting a patent. ”
upheld in June 2012. U.S. President Barack Today, pharmaceutical companies have to strike
Obama championed and the U.S. Supreme Court a tighter cost-benefit balance in innovation. No
backed in June 2012. It aims to provide affordable longer can they charge patent-protected, premium
care to millions of previously uninsured people. prices for long as they did in the past because the
And while the ACA remains controversial, the threat from cheap generics arrives sooner.
“trend towards accountability in healthcare is
irreversible, says Singh. All industry players will
” Singh sees a distinctive strategy shift as pharma
be guided by two principles: accountability and weans off the blockbusters. “The problem
patient-centric care, she says. would be serious if they did not realize what
the ‘new normal’ is. There is declining RD
The notion of a patient-centric approach is productivity, a declining flow of new drug patents
popular, but can be interpreted in many ways, and the patent cliffs — but I don’t think any of
says Danzon. “The useful notion [of patient- the pharmaceutical companies are in denial. ”
centricity] is that there is a push towards trying Their fundamental challenge is to develop new
to measure outcomes and get a better evidence products that will be sufficiently superior to older
base for medical decisions and treatments. ” drugs whose patents are expiring, says Danzon.
But evidence-based medicine generally means Only then can they justify the much higher prices
looking at what works on average since it cannot that new drugs command relative to generics.
be applied at an individual patient level, she adds.
Also, it must incorporate sensitivity to patient Singh expects pharmaceutical companies to
preferences and differences in co-morbidities. divest unprofitable businesses, stick to their
For example, if one patient is young and healthy core competencies and grow more through
vs. another with a heart condition and diabetes, acquisitions. They already are expanding
then the optimal treatment may be quite different portfolios to include generic drugs, lifestyle
for each one. Accountability in care also has to products (for example, health tonics and other
do with evidence. “Providers and health care wellness offerings) and animal health medicines.
companies are going to have to provide evidence Emerging markets are also a big, new area. “If
that what they are doing, and what they are you look at the CEO speeches of any of the top
asking payers to pay for, does in fact deliver five pharmaceutical companies, you will see them
value to patients, says Danzon.
” talk about diversification, emerging markets, RD
productivity increases, etc., Singh says.
”
Accountability in Health Care: Collaboration and Analytics Are Key | 3
4. Knowledge@Wharton | WIPRO
Generics can absorb only a limited amount of countries — face the same sort of patent cliffs when
the revenue downturn as patents expire. While patents expire because the follow-on biologics will
generics can bring in some stable revenues with not be as numerous, as cheap or as substitutable
a well-executed strategy, they don’t offer the high as the follow-on chemical-based drugs.
returns that successful new drugs deliver, Danzon
Even as Big Pharma companies work to
notes. “In a way, the pharmaceutical industry
discover new blockbuster medicines, smaller
is a victim of its own past success, and we as
biotechnology firms and generic drug makers
consumers benefit from that — we now have all
will bring more innovation than in earlier years,
these good, cheap generic drugs available. ”
Singh predicts. She is especially bullish about
The potential in emerging markets looks personalized medicine, where gene-based
promising. But here again, Danzon sees sequencing and other tools help customize drugs
some obstacles. The market share of MNC based on patient profiles. Notable work is being
pharmaceutical companies in both India and done in this area by Amgen, Gilead Sciences,
China is well under 40%, she points out. “So they Roche and Genzyme. “Personalized medicine
are going into markets where they face tough is now beyond the idea stage. It has gained
”
competitors, limited insurance coverage for drugs acceptance, and the challenges now are about
and a limited ability to pay on the part of much getting scale and managing the cost of providing
of the population. There is also often a mismatch such treatments.
between the products the MNCs are currently
bringing to market and what consumers in those WANTED: A STEVE JOBS FOR MEDICAL
countries want.” DEVICES
And don’t expect big gains from efforts to increase The opportunities are different for medical
patient compliance. “Improving compliance is device companies, where attention is focused on
something the pharmaceutical industry has been miniaturizing products “to make them cool and
struggling with and trying to achieve for years, ” appealing, says Singh. Miniaturization also works
”
she says. “It’s just not obvious that there is an easy well for emerging markets, she adds. “You need a
way to do this. Patients are non-compliant for
” Steve Jobs in that industry. These companies are
”
many reasons – some have to do with costs, some also sourcing innovation from India and China to
with a dislike of taking medicine, or some with a cut costs and customize products for those new
feeling by consumers they are not getting value. and expanding markets.
“There is no magic bullet here. Singh agrees that
”
increased patient would add only incremental The big medical device companies, including GE,
revenue, whereas one blockbuster drug can Philips, Siemens and Johnson Johnson, have
generate “a billion dollars.” already established their presence in emerging
economies by supplying devices adapted for
Still, says Danzon, new drugs offer the “highest- those markets and sourcing innovation locally.
risk, but it’s also the highest-return strategy. An
” GE, Philips, Siemens and others also have local
industry-wide shift away from chemical-based manufacturing units in India and China.
drugs to biologics [a treatment made from a
biologic process] will help. That is because the Medical device makers increasingly are using
biologics will not – at least under the new U.S. technology to respond to the challenges. One
health care law and regimes in some other example: A large U.S.-based maker of cardiac
Accountability in Health Care: Collaboration and Analytics Are Key | 4
5. Knowledge@Wharton | WIPRO
devices is introducing new product features that services for all residents, and the more expensive,
enable communication with back-end patient private insurance U.S. health care model.
history databases using mobile telephony, cloud
One big organizational issue facing health care
technology and business analytics. Some efforts
providers is the likelihood that payers will move
have helped cut manufacturing costs by 80% for
soon towards more bundled forms of payment,
select devices. Others are creating new revenue
according to Danzon. Those “bundles” would
streams, in one case by analyzing patient data
cover payments for the pre-hospital diagnosis,
from devices such as insulin pumps.
hospitalization, post-hospital care and possibly
Business transformation is the key theme all drugs used in the treatment. That approach
at another large U.S.-based medical device would also incentivize providers to be more cost
company. One example: Since 2011, the company conscious. “The basic idea is to move away from
has set up a global complaints management the fee-for-service approach to reimbursement,
center in the Philippines, hiring hundreds of where the more services you provide, the more
nurses and biomedical engineers to resolve user you are paid, says Danzon. The transition won’t
”
problems and report adverse events as required be easy. “In the short run, it could mean pain
by the FDA. The company wanted to reduce the for some providers as they face the need to
costs of complaints management and harmonize reorganize and change the way they practice. ”
the global complaints management process.
With the pressure to contain costs, hospitals
Meanwhile, makers of big medical equipment are pushing more for home care, outpatient
face business-model changes as hospitals treatments that avoid hospitalization, the
increasingly rent rather than buy. Called the parceling out of specialist services to ambulatory
“loaner model, it could be “a very profitable
” care centers, and remote patient monitoring
strategy” for makers of expensive equipment, and wellness programs. Moving some hospital
says Danzon. Medical device companies are also services out of the inpatient sector into more
improving margins by removing the “bells and ambulatory care settings “is good news for
whistles” from products, while retaining basic patients and payers, says Danzon. She is not
”
technology and functionalities. Danzon says as optimistic about the impact of wellness
that helps them extract more sales by varying programs. Billions of health care dollars could
the features and the price points based on each be saved if people could be persuaded to lead
customer’s ability to pay. healthier lifestyles, she says. “But there is not a
lot of evidence that wellness programs actually
HEALTH CARE’S HUNT FOR EQUILIBRIUM have such results. ”
Given that accountability will be the chief
driver for health care organizations as policy
MIXED FORTUNES FOR INSURERS
makers globally seek to rein in costs, expect For insurers, laws such as the ACA may herald
physicians, hospitals and insurers, to seek new gains, but not without some pain. The
equilibrium between the lowest-cost treatments focus on coverage for just about everyone
and expanding access to patients, says Singh. means insurers could enroll millions of potential
That equilibrium most likely will rest somewhere additional “lives, or customers, but there are
”
between the U.K.’s taxpayer-funded National obstacles. Danzon points to constraints on the
Health Service, which provides almost free types of policies that can be offered, limits on
Accountability in Health Care: Collaboration and Analytics Are Key | 5
6. Knowledge@Wharton | WIPRO
medical loss ratios (a measure of the portion this information is retrospective in nature and has
of health care premiums insurers spend on limited ability to affect point-of-care decisions.
administrative costs and profits), restrictions on Hospitals and large provider groups have access
policy exclusions and the elimination of caps on to real-time clinical data that can improve point-
total expenditures per patient. of-care decision making. However, they have
limited historical data for patients.
The good news for insurance companies is that
the rules apply to all. That will make it easier for Clearly, a key need is to integrate data from
them to adjust premiums to accommodate the payers and providers to improve the outcomes
additional costs, says Danzon. But premiums will and quality. Today, collaboration between
tend to go up. “That is a big concern. Payers will providers and payers is occurring on a scale
have to pay for additional services, and that will “we have never seen before, says Singh. These
”
add to costs and add to premiums. There is not collaborations help cut costs, improve care and
much [in the ACA] to help them control the fees create better reimbursement models based on
of providers, or the prices of drugs or the prices outcomes. “It is classic B-to-C consumerization,”
they pay hospitals. Insurers will have to develop
” says Singh. Also of help: technology such as
new strategies to control reimbursements. cloud platforms (where data sits on remote
servers, accessible to multiple users) connecting
Insurers have been eagerly awaiting electronic
hospitals, physicians and patients.
health records to bring new efficiencies. But
despite more than a decade of talk progress is Business analytics is already helping
slow, Danzon says. Electronic records will help pharmaceutical companies make wiser decisions
providers know about a patient’s conditions and on which products they should sell where, when
previous treatments, and that could potentially and at what price points, including offering
eliminate duplicated services. But providers will suggestions for dealer incentives, stock levels
adopt new technologies only if they save both and promotion strategies. Singh points to several
costs and time. examples of the use of data analytics to help
improve patient outcomes. AstraZeneca has
COLLABORATION AND BUSINESS partnered with insurance and health benefits
ANALYTICS — THE NEXT FRONTIERS provider WellPoint to gain more insight into
patients. Once equipped with the medical history
The key to measuring cost and quality is to of patients and their families, insurers can make
aggregate claims, financial and clinical data. But better-informed decisions on the coverage they
that does not necessarily ensure the appropriate provide. GE Healthcare recently joined up with
decision making to deliver high-quality care. Intel for remote patient monitoring services. In
Delivering truly patient-centric care requires December 2011, it also partnered with Microsoft
predictive analytics and modeling, where in care management, using real-time business
historical data is used to identify risks and intelligence on health care quality and patient
opportunities. This would also require a blurring experiences to boost outcomes. Philips is
of the lines between the traditionally separate, experimenting with remote patient monitoring
and often adversarial, positioning of those that where its devices are linked with patients who
provide care and those that pay for it. Payers are connected with paramedics and doctors at
typically have had access to analytics for patient its back offices. The UnitedHealth Group has
identification and stratification. However, most of an in-house entity called OptumHealth that
Accountability in Health Care: Collaboration and Analytics Are Key | 6
7. Knowledge@Wharton | WIPRO
does analysis for wellness, disease and care competing goals, says Danzon. “At a simple
management programs. level, broader access is in contradiction to cost
control, because one approach to cost control
The quest for accountability in care is forcing
is to limit access, she says. “Hopefully we will
”
health care and life sciences companies to retrace
reconcile these goals and get universal access at
their steps, too. Expect medical management
reasonable cost. The biggest challenges will be
”
to be “the next big thing, with a focus on
”
complexity, heterogeneity and volume of data.
prevention before cure, says Singh. “There is a
The ability to combine, normalize and harmonize
shift from treatment to wellness, and everybody
this information from multiple stakeholders will
in the food chain will be involved. But it should
”
be the key to success.
be understood that improving access to health
care and making it affordable are to some extent
Accountability in Health Care: Collaboration and Analytics Are Key | 7
8. Knowledge@Wharton | WIPRO Future of Industry Series: Accountable Healthcare
This article was produced by Knowledge@Wharton, the online business
journal of The Wharton School of the University of Pennsylvania. The
project was sponsored by Wipro Technologies.
www.wipro.com http://knowledge.wharton.upenn.edu
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