A Roundup of 2014 Healthcare Predictions
IDC Health Insights
- New business models will drive at least 50% of healthcare IT spending growth.
- Value-based healthcare will move care delivery from the four walls to the community.
- The need for agility on-demand will turn IT organizations inside out.
- Service providers will become the gatekeeper for the 3rd Platform.
- HCOs will focus on extracting more value from information.
- Consumer analytics programs will fail without strong data governance investments.
- First generation EHRs will fail.
- Platform underinvestment in business continuity and disaster recovery (BC/DR) and security will finally come home to roost, driving providers to the Cloud.
- Healthcare providers will accelerate adoption of operations management industrial best practices.
- Compliance will cost more than you think.
PwC “Top Health Industry Issues”
- Industry changes will cause healthcare companies to reconsider their roles and business models. Many companies will look to expand their footprint and expand revenue streams (ex: insurers are acquiring providers and providers are entering the insurance business).
- Social, mobile, analytics and cloud tools have changed how health organizations interact with patients and with each other, which will drive new business models for healthcare companies.
- Companies will think more like startups — forcing experimentation and failing faster, cheaper and better.
- Demand for price transparency continues to grow and will be fueled by new health insurance exchanges. Cost-conscious companies will make transparency a priority in negotiations with health plans and providers.
- New technology has created rising demand for a digital-savvy healthcare workforce that can leverage technology to engage with patients.
- More employers will explore the potential of private exchanges. Sixty-five percent of surveyed consumers preferred that their employers offered three to five plan choices.
- In the face of precision medicine and a focus on specialty products, drugmakers will need to embrace alternative clinical trial designs.
- Drugmakers will prepare for new requirements to prevent counterfeit medications in the drug supply mandated by the recently enacted Drug Quality and Security Act. In 2015, drugmakers will be required to begin tracking prescribed drugs in large bundles.
- Corporate venture capital will make up a bigger share of healthcare deals, filling in gaps left by retreating traditional venture capital firms. Partnerships between those two kinds of VCs will help corporations broaden their reach into startup communities.
- States will continue to turn to managed long-term care solutions to help contain Medicaid costs. PwC estimates that 26 states will have Medicaid managed long-term care programs by 2014.
Frost & Sullivan
- As healthcare is geared towards a personalized medicine model, companion diagnostics will alter drug development and the commercialization process of drug candidates. Combining biomarkers and drugs will result in enhanced therapeutic efficacy and safety.
- The healthcare and life sciences industry will consolidate further in this decade, with many big pharma companies seeking alternatives to the blockbuster model.
- The rise of new technologies capable of integrating medical devices into a connected platform will enhance the functionality of devices, reduce the manpower burden and minimize errors.