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Scooped by
Linda Holroyd
April 4, 2016 2:04 PM
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The healthcare landscape is changing exponentially and the following technologies are expected to have far-reaching implications in terms of diagnostics, treatments and delivery of care in the future. 1. Artificial Intelligence: CAGR of 42% to reach $6.6 billion in 2021 Artificial Intelligence (AI) is defined as the intelligence demonstrated by machines or software with the ability to depict or mimic human brain functions. AI in healthcare aims to improve patient outcomes by assisting healthcare practitioners in using medical knowledge, which has been thoroughly analyzed and memorized by these systems, thereby providing excellent clinical and medical solutions. AI systems have the potential to provide physicians and researchers with clinically relevant, real-time, quality information sourced from data stored in electronic health records (EHRs) for immediate needs. The AI market for healthcare applications is expected to achieve rapid adoption globally, with a CAGR of 42% until 2021. Excellent patient outcomes, reduced treatment costs, and elimination of unnecessary hospital procedures with easier hospital workflows and patient-centric treatment plans are the prime reasons for the wide adoption and successive growth of the AI market in the healthcare industry. By 2020, chronic conditions, such as cancer and diabetes, are expected to be diagnosed in minutes using cognitive systems that provide real-time 3D images by identifying typical physiological characteristics in the scans. By 2025, AI systems are expected to be implemented in 90% of the U.S. and 60% of the global hospitals and insurance companies. In turn, AI systems will deliver easily accessible, cheaper and quality care to 70% of patients. AI is consistently improving the approach and access to reliable and accurate medical image analysis with help from digital image processing, pattern recognition and machine-learning AI platforms. For example, a startup, Butterfly Network, has developed a handheld 3D-ultrasound tool that creates 3D images of the medical image in real time and sends the data to a cloud service that identifies the characteristics and automates diagnosis. Such clinical support from AI is expected to have a significant impact on the overall medical imaging diagnosis market and its growth. Innovative, automated patient guidance and engagement solutions, such as AI-enabled medication adherence to observe patient devotion by using advanced facial recognition and motion-sensing software, have started to automate one of the major healthcare processes of directly observed therapy (DOT). New entrants with similar solutions are expected to rapidly capture this sub-segment of the market. IBM IBM +0.41% Watson Health’s recent acquisition of Truven Health Analytics for $2.6 billion creates a new and important dimension in health data analytics, further strengthening IBM’s already strong healthcare market position. 2. Immunotherapies: Checkpoint inhibitors growing at 139% CAGR Immunotherapy provides therapeutic benefit by focusing on the capabilities of the immune system in regards to the tumor and promises to transform cancer care. It charts new territory in both individual duration of survival and the potential for significant numbers of patients to benefit. For example, malignant melanoma is a significant unmet medical need with limited treatment options. More than 160,000 cases of melanoma are diagnosed worldwide with 40,000 deaths annually. The promise of immunotherapy rests largely in its aptitude for broad application in various patient populations. Once the algorithm for its effective use in the oncology setting is properly realized, the growth potential is humongous. While checkpoint inhibitors dominate the current headlines in the clinical care communities, other promising approaches include novel molecular constructs such as chimeric antigen receptors (CARs), therapeutic combinations with old and new drugs, dosing regimen modifications and vaccines. The market for check point inhibitors was valued at $3 billion in 2015 and is expected to reach $21.1 billion by 2020, growing at CAGR of 139%. 3. Liquid Biopsy: Potential to monitor tumors non-invasively Liquid biopsy extracts cancer cells from a simple blood sample and has the potential to revolutionize cancer treatment by non-invasively monitoring cancer cells. Today, repeated biopsies are needed to study the changing tumor and present a huge challenge to the patient. Liquid biopsy provides attractive investment opportunities for diagnostic companies. The focus on blood biomarkers, such as ctDNA and CTCs, has unleashed the potential to now track and monitor tumors in a non-invasive manner. It is expected in about two years, liquid biopsy will become an adjunct to tissue biopsy. This technology has proven to be much more effective and detects worsening of a disease condition even before a CT scan. There are key benefits to this technology where “go to the source” is not a concern, unlike tissue biopsy. 4. CRISPR/Cas9 (RT): Disrupting the way R&D is conducted and products are developed CRISPR/Cas9, a gene editing technique, can make targeted modifications to DNA accurately, cost effectively and reliably. In short, it holds the promise of transforming the way R&D is conducted and products are developed across major sectors of the global life science economy. This technique catapulted onto the research scene in 2014, and companies are flocking to provide research tools and develop therapeutics using the technology. Sangamo Biosciences is the most prolific company to have applied one of these technologies—Zinc Finger Nucleases—to the development of clinical-stage human therapeutics. Other companies, such as the start-ups CRISPR Therapeutics and Editas Medicine, have focused on CRISPR, having received millions in VC funding. However, while human therapeutic applications of gene editing steals the limelight, there are other sectors, including agriculture and specialty chemicals, in which the technology has advanced beyond research onto the market. Gene editing offers the ability to do the following: - Modify critical traits in crops and animals
- Boost food crop yields and nutrient quotient
- Create crops capable of withstanding blights, pests or climatic extremes
- Breed hardier, disease-resistant farm animals with improved nutritional profiles
An analysis of NIH-funded projects mentioning CRISPR/Cas9 from 2013 to 2015 finds astronomical growth of this promising gene editing technology. From 2013 to 2014, funding grew seven times, and from 2014 to 2015, funding more than tripled. Academic researchers are not the only end users adopting CRISPR/Cas9 as the technique is having a major impact in therapeutics as well. The technology overcomes many of the challenges with RNAi, TALENs and ZFN genome editing tools, promising to be a market worth hundreds of millions over the next few years. 5. 3D Printing: Game changer for organ or tissue repair 3D printing technology has enormous potential in healthcare due to its ability to be customized. Customization can dramatically reduce surgery times and medical expenses. Currently, the largest applications are 3D-printed scaffolds or prosthetics (orthopedic implants) and medical devices, such as dental implants and hearing aids. The game changer for 3D printing will be in human tissue printing: printed livers, hearts, ears, hands and eyes, or building the smallest functional units of tissues, which can lead to the fabrication of large tissues and organs. This can be used as surgical grafts to repair or replace the damaged tissues and organs. It is estimated more than a million people need kidney transplantation worldwide. However, only a little more than 5,000 people receive a transplant, as there is an insufficient number of donor organs. Scarcity of legally donated organs has led to a dramatic increase in a worldwide illegal organ trade. The 3D printing business for healthcare is expected to be worth approximately $6 billion by 2025. Some prominent companies in this field areStratasys Ltd., Arcam AB, Organovo Holdings Inc., Johnson & Johnson JNJ -0.68% Services Inc. and Stryker SYK +0.96%. These five technologies have enormous potential to transform the healthcare industry. This article was written with contribution from Nitin Naik, Global Vice President of Life Sciences; Christi Bird, Senior Industry Analyst; Divyaa Ravishankar, Senior Industry Analyst; and Venkat Rajan, Global Director of Visionary Healthcare with Frost & Sullivan’s Transformational Health Program.
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Scooped by
Linda Holroyd
November 9, 2015 1:11 PM
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Regenerative medicine is one of the fastest growing biomedical industries in the world because patients are being cured of diseases that were once incurable. Regenerative medicine represents a new paradigm in human health because the vast majority of treatments for chronic and life-threatening diseases focus on treating the symptoms, not curing the disease. In fact, there are few therapies in use today capable of curing or significantly changing the course of a disease. New regenerative medicine is changing this by engineering, growing, and regenerating tissues and organs using biological processes similar to those normally used in humans. There are already over 500 regenerative medicine products available on the market. Figure 1 shows the current status of this treatment. Knee Replacements will be Unnecessary in the Next Five Years Cell therapy makes up over 60% of the regenerative medicine market, most of which is in the area of stem cell therapy. Adult stem cells can be used in the areas of cardiology; musculo-skeletal, including neurology; optometry; dermatology; cosmology; wound healing; and cancer. Stem cell therapy, when combined with immune and gene therapy, shows even greater potential to cure diseases. This new combination of regenerative cell therapies will open a new age of medicine, forever changing how it is practiced. For example, in the future, knee replacements may no longer be needed with regenerative cell therapy. Regenerative medicine is not only driven by new evidence indicating these therapies are capable of curing diseases, but also by the fact that the world’s population is aging. In Japan, 25% of the population is over the age of 65. In the U.S., by 2030, 19% of the population will be over 65. By 2030, there will be more people older than 60 than younger than 10, globally. Today, there are fewer children under the age of five than adults over the age of 60. In addition, healthcare systems in many countries are burdened by costly treatments for their aging and increasingly ailing populations. There are few solutions for containing the rising costs of healthcare; therefore, countries like Japan are helping regenerative medicine companies gain a foothold with new products. In doing so, they are hoping to keep their populations healthier longer, thus reducing the cost of healthcare. Figure 2 shows the geographical activity in this space, with US leading currently. In the U.S., there are hundreds of clinics offering non-FDA-approved stem cell interventions for a wide range of conditions. Clinics charge $7,000 to $10,000 per treatment, multiple treatments are often required, and no insurance coverage is available. The 2014 FDA guidelines indicate it will be necessary for clinics to offer stem cell therapy in order to have an approved Biological License Application (BLA). If the stem cell isolation procedure is “more than minimally invasive,” it may need to be licensed as if it were a drug. The following are companies with technology with the potential to innovate regenerative medicine: - Orthofix International; Texas, U.S. A company providing reconstructive and regenerative orthopedic and spine solutions.
- BioStim; an electrical stimulation to enhance healing of the spine and neck – VersaShield; a thin hydrophilic amniotic membrane to cover wounds and is derived from human placental layers amnion and chorion – COLLAGE™; a synthetic bone graft substitute product that has demonstrated biocompatibility and safety of collagen in over 10 million implants. - Capricor Therapeutics; California, U.S. A company focusing on the prevention and treatment of heart failure and heart attacks.
- CAP-1002; a leading product using cardiosphere-derived cells to treat post-myocardial infarction (heart attack), advanced heart failure, and Duchenne Muscular Dystrophy. Big Pharma Investments Big in Regeneration MedicineBig Pharma cannot be left out of this race. Many companies have become interested in regenerative medicine. Pharmaceutical companies are building relationships with innovating regenerative medicine companies. Pfizer Pfizer has created its own unit, Neusentis, in Massachusetts, U.S. Neusentis’ main focus is to develop cell-based therapies for age-related macular degeneration.Celgene and Teva Pharma Celgene has a 4.5% stake in Mesoblast to develop an Acute Graft Versus Host Disease (GVHD) program. Teva Pharma holds a 20% stake in Mesoblast and is a major partner in the Chronic Congestive Heart Failure (CCHF) program, in phase III clinical trials. Johnson & Johnson Johnson & Johnson invested 12.5 million in Capricor Therapeutics (CAPR) for support in a stem cell therapy program. The investment could increase to $325 million, depending on milestone attainment. The program has also received $20 million from the California Institute for Regenerative Medicine. Phase II trials for treatment of cardiovascular disease have been scheduled. The global healthcare consumer demand for stem cell therapies is very high, with stem cell therapy tourism gaining popularity – mostly from the U.S. Globally, many stem cell therapies are not clinically proven or tested, with only a few resulting in positive clinical results. These international clinics are charging anywhere from $20,000 to $100,000 per treatment, and they are not covered by insurance. In most cases, more than one treatment is required. Transnational supply-side economics is driving the market; there is low regulation and multiple offerings for numerous conditions, with some being offered to treat life-threatening diseases. Regenerative medicine has the potential to ultimately change the way medicine is practiced throughout the world.This article was written with contribution from Jane Andrews, Ph.D., Senior Consultant with Frost & Sullivan’s Transformation Health Program. For more information on regenerative medicine, please visit http://bit.ly/1MWo63Y.
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Scooped by
Linda Holroyd
June 30, 2015 3:52 PM
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Streamlining the lab test process is the next step for this virtual medial care startup. HealthTap, a startup enabling patients and doctors to connect via the Internet for consultations and care, is adding a significant weapon to the arsenal it already provides its physicians: lab tests. The Palo Alto, Calif.-based startup is partnering with Quest Diagnostics DGX 1.90% , one of the largest networks of medical lab test providers in the U.S. Through the partnership, announced Tuesday, HealthTap’s physicians will be able to directly prescribe any lab test offered by Quest to patients. The patients can then schedule at the location and time that best fits their needs. The test results will also be automatically sent to the doctor for review, as well as to the patient. Quest will invoice the patient’s health insurance provider. Founded in 2010, HealthTap now works with more than 71,000 licensed physicians in the U.S., and lets patients connect with doctors via desktop computers or mobile devices 24 hours a day. HealthTap offers both a community and network of doctors patients can turn to to ask questions about symptoms or concerns for a monthly fee, and a service that lets them remotely connect with their own doctors for a pay-per-visit fee. So far, doctors have been able to provide consultations as well as prescribe medicine remotely to patients. Now, it will have access to Quest’s 2,200 patient service centers. Quest Dignostics,ranking at No. 375 on this year’s Fortune 500 list, brought in more than $7.4 billion in revenue last year. “70% of medical decisions involve a medical test,” HealthTap chief health officer Dr. Jay Wohlgemuth told Fortune, citing a statistic found in reports by Quest and others in the field. Wohlgemuth was previously a senior vice president at Quest. Wohlgemuth added that along with tests prescribed as a result of patient symptoms, tests can also help in the prevention of a large number of medical problems. Screening tests can help better manage and anticipate cardiovascular risk and infectious diseases, among many other areas. However, only about 30-40% of these tests are ordered and administered, Wohlgemuth said. To help with that, HealthTap’s system will prompt users with recommended tests and areas of concern based on the patient profile they complete when they sign up for HealthTap. In the telemedicine space, HealthTap competes with Doctor On Demand, Teladoc, and MDLIVe, among others. Founded by Ron Gutman, Sastry Nanduri, and Dr. Geoff Rutledge, HealthTap has raised $35.5 million in funding to date from investors such as Mohr Davidow Ventures, Khosla Ventures, Mayfield Fund, and Asset Management Ventures.
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Scooped by
Linda Holroyd
April 13, 2015 9:46 AM
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As one of the nation’s largest producers and transporters of energy and with thousands of employees spread out across the country, there is a lot riding on the health of the employees at Dominion Resources. Dominion, which is headquartered in Richmond, Virginia, has more than 14,000 employees at various locations in 16 states. The company’s energy portfolio includes approximately 24,600 megawatts of generation, 10,900 miles of natural gas transmission, gathering and storage pipeline and 6,455 miles of electric transmission lines. It also operates one of the nation's largest natural gas storage systems, with 949 billion cubic feet of storage capacity and serves utility and retail energy customers in 11 states. And while the business of Dominion has been improving in recent years – the company was recently named one of the “most admired electric and gas utilities” by Fortune magazine – the health of many of Dominion’s employees was not so good. After conducting an annual health risk assessment and biometric health screening in 2012, Dominion, which is self-insured, found that the following five health risk factors accounted for 84% of the company’s costs for treating avoidable health care issues: weight, stress, blood pressure, eating and cholesterol. Leadership at Dominion decided it was time to help employees change behaviors that ultimately could reduce their quality of life and negatively affect the company’s bottom line. Management, in partnership with their internal wellness team and external provider, StayWell, set a short-term goal of driving participation and a long-term goal of engagement and behavior change. Getting in front of potential health care costs wasn’t the only factor driving Dominion to embark on a wellness program. Improving employee health also connected to Dominion’s four core values of safety, excellence, ethics and One Dominion (which represents the company’s commitment to working together as a unified team). “We believe that if employees are healthy and well, they will perform better and be safer while at work,” says Wendy Wellener, vice president of human resources. “Initially, we just wanted employees to know their numbers; but now, we are moving more toward a progress-based approach. Because employees are One Dominion, we are confident that they can work together to improve overall health and reduce health care costs.” Program components Dominion’s employee wellness program started officially in 2012 and is branded “Well On Your Way.” The program currently consists of leadership support and involvement, annual health risk assessments, biometric screening, lifestyle coaching (telephonic and mail based), incentive strategy (health plan premium reduction or credit), StayWell’s participant portal, online healthy living programs, wellness ambassador network, Dominion-sponsored onsite activities for employees, employee assistance program and onsite fitness centers at approximately 40 locations. Leadership support and involvement, which is critical to the success of a wellness program, includes webinars that promote wellness opportunities during open enrollment and throughout the year. Leaders can also be found participating in a variety of wellness program activities and company-sponsored fitness events, such as softball teams, volleyball teams, Team Dominion Running Club, and the annual American Heart Association Walk. The company also sponsors blood drives and onsite flu clinics to make it easy for employees to stay ahead of their health care needs. Communication plays an important role in the success of Dominion’s program, as well: from the “pop-up” reminders employees receive when they sign into their computers, to the numerous communication pieces they receive from partners like Aon Hewitt and StayWell; and through postcards, targeted emails, posters, flyers and the company’s intranet and internal news outlets. Dominion also has established a growing network of wellness ambassadors. This initiative started at the employee level in 2013 and remains driven by employee volunteers. Currently, Dominion has approximately 80 wellness ambassadors working to promote its wellness program. The leadership and wellness team at Dominion feel the program is moving in the right direction and is already producing positive outcomes, including: The average number of health risks for first-time health assessment completers decreased from 3.17 to 3.00. The average number of health risks for repeat health assessment completers went from 3.16 to 3.09. This demonstrates that people are maintaining their behavior change from year to year. For people who participated in the company’s lifestyle coaching programs, the average number of health risks went from 3.73 to 3.54. For people who participated in a NextSteps program, their health risks decreased by 5.1%. In addition to enhancing program offerings with a continued focus on weight and more emphasis on stress, Dominion will begin to move toward a progress-based incentive structure in 2015 for some employee groups. Employee response to the program continues to be positive, as more than 300 employees submitted personal testimonials of how the Well On Your Way program has helped them. The secrets to Dominion’s success are really quite simple, says Wendy Wellener: get management support, make sure your incentive matches your culture, and use behavioral economics to drive participation. David B. Robinson is supervisor of benefits with Dominion Resources. Heidi Trow is senior account executive with StayWell.
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Scooped by
Linda Holroyd
April 2, 2015 3:35 PM
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As health evaluations move further center stage – be it via celebrities pushing for cancer screenings or companies including health assessments in wellness programs – it is becoming clear that to take full advantage of the health opportunities available, employees need to know as much as possible about their current health status. Biometric health data can provide reliable information about risk for chronic conditions, which afflict one out of every two Americans, and account for 80% or more of all health care spending in the U.S, according to the Centers for Disease Control and Prevention. Consumers, however, know a lot less about their health than they need to, according to new data from HealthMine. Sixty-eight percent say they don’t know their biometric measurements, even though 83% in the same group say they have easy or somewhat easy access to such information. “Chronic conditions such as heart disease and diabetes are among the most common, costly, and preventable of all health problems,” says Bryce Williams, CEO and president of HealthMine. “With out-of-pocket costs rising, it’s no surprise that three out of four workers want guidelines and incentives from their employers to help them manage their health. Employers who deliver this support with personal clinical engagement can help bridge the gap for consumers and lower costs.” In fact, more than three-quarters of those surveyed believe employers should offer some sort of program or guidelines to help with managing health. Even more (80%) think employers should offer some sort of incentive to help with improving health. “Beyond the cost issue, consumers are struggling to understand their own health information. To lower their burden or even make informed decisions they’ll need personal clinical engagement from plan sponsors,” Williams adds. To help manage health, the employee wish list includes: - 88% believe it’s important to have a single login for access to health information.
- 82% want regular updates on their health conditions and health progress from their plan provider.
- 80% want easy access to clinical information and evidence from national associations, leading hospitals, medical studies.
- 80% say it’s important to have concise summaries and simple visual graphics when accessing health information.
- 76% want to easily share their information with health care providers when on the go.
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Scooped by
Linda Holroyd
April 1, 2015 4:01 PM
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With 2015 fast approaching, employee benefit decision makers are scrambling to ensure that they stay ahead of the curve – particularly as the Affordable Care Act’s employer mandate kicks in next month. As employers look to increase benefit offerings and weather rising health care costs, below are the top five areas everyone should be paying attention to. Building wellness programs
We all know that 2015 is the year of the ACA – and for most employers with 100 or more employees, it’s beginning to sink in that now it’s for real. At the same time, many employers are seeing their health care premiums rise, which adds a layer to the work being done right now. A properly administered wellness program can help an employer reduce premiums and promote a healthier and more productive workforce. However, many employers are having considerable difficulty understanding the rules for wellness plans, since there are still questions about them under the ACA, the Americans with Disabilities Act, and relevant employment laws and regulations. Given that there is considerable uncertainty in the law in this area, as a first step in implementing a properly administered wellness plan it is important that these programs be voluntary. Micro networks to minimize costs
Most major carriers are expected to implement smaller network options. They’re looking for ways to minimize costs for employers within the framework of the ACA, which requires them to deliver affordable insurance to everyone, regardless of pre-existing conditions. Employers who are considering joining a micro-network should allow plenty of time to plan and investigate the opportunity. Given the very specific provider parameters around a micro-network, employers need to understand their employee population and the provider options available, and how they mesh, or don’t mesh. It’s best to start by looking internally to get a good reading of employee health care needs, including how they access healthcare providers today. From there, employers should examine what’s available externally to gain an understanding of the provider network available to them and their employees. Adoption of private insurance exchanges Employers are gravitating more and more toward private insurance exchanges as they look for better ways to deliver health insurance to their employees. Rather than continuing to assume the responsibility for making health care decisions for plan participants (or managing the risk on their behalf), employers are transferring responsibility to employees and essential making them better consumers of health care. At the same time, employers have something to gain too: predictable health care costs. The challenge is that it’s not a simple switch you flip. In fact, the move to a private exchange could be difficult for employees who generally are not accustomed to making benefits plan decisions for themselves, or who balk at the potential of an increased out-of-pocket burden. It’s incumbent upon employers to guide employees through the transition to help them accept the idea that having more power and choice is a good trade-off to taking on more risk. To do this, the employer must introduce a defined contribution approach to the workforce and embrace concepts like premium transparency, fixed dollar contributions and multiple plan options. Using forensic underwriting As employers investigate ways to reduce benefit costs, a growing trend is the practice of forensic underwriting. It’s the act of auditing the employer’s existing insurance rate structure and working with carriers to reduce annual increases. Understanding how carriers formulate insurance rates is the foundation of forensic underwriting and the first step to reining in annual renewal hikes. Underwriting, as we all know, is the premise of carrier profit. With that in mind, carrier underwriters are often amenable to negotiation as long as counter-offers are logical and make sense and the resulting renewal rate is sustainable. As long as brokers approach insurer underwriters with the goal of developing a win-win scenario, it’s possible to create a beneficial outcome for everyone. Cyber insurance About 80% of cyber attacks are focused on theft or loss of information as opposed to taking down a system. As executives look to safeguard their intellectual property, customer information, financial data and employee records, they’re also looking to protect against the inevitable financial hit. Instead of thinking about cyber insurance as an expense, employers are increasingly viewing it as a cash flow tool. If a business system is attacked and high-priced consultants have to be hired to fix the problem, a significant cash flow will be required to cover the expense. There could be lawsuits by customers to deal with and significant loss of revenue, not to mention hard-to-overcome reputation damage. The risk is real. The loss can happen in an eye blink. Brian Feeley is senior vice president of marketing for Corporate Synergies, an employee benefits consulting firm and private health care exchange vendor.
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Scooped by
Linda Holroyd
March 23, 2015 6:23 PM
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Health care policymakers concerned about improving the management of health risks should view the pace of medical innovation as an important “lever of influence,” says Julian Reif, a professor of finance and of economics at Illinois. A new analysis co-written by a University of Illinois expert in health care economics concludes that increases in the pace of medical innovation reduce overall physical risks to health, and thus function in a manner similar to an expansion of or improvement in the efficiency of health insurance markets. Policymakers concerned about improving the management of health risks should view the pace of medical innovation as an important "lever of influence," says Julian Reif, a professor of finance and of economics at Illinois. "With the Affordable Care Act, policymakers in the U.S. have focused on improving health insurance access and design. While those are certainly worthy goals, medical innovation policy may have an even greater impact on reducing health risks," said Reif, also a faculty member of the Institute of Government and Public Affairs and the Center for Business and Public Policy. "We spend 17 percent of our economy on health care and regulate many aspects of it. Going forward, it is important for the U.S. to provide an environment conducive to continued innovation in the medical sector." Economists tend to think of medical innovation as a valuable but risky good, one that yields health benefits for the sick but ultimately increases the financial risk for the healthy through higher medical costs, Reif said. But according to the paper, this perspective doesn't account for how innovation can lower the risks of a currently healthy person contracting a life-altering disease in the future. Just like buying auto insurance reduces the financial risk of car accidents, medical technology reduces the physical risk of illness, Reif said. "The key point of the paper is that we ought to start thinking of medical innovation as a form of insurance," he said. "It generates value even for someone who is not sick because it reduces the risk of falling ill." One of the examples Reif and co-authors Darius Lakdawalla of the University of Southern California and Anup Malani of the University of Chicago use in the paper is Parkinson's disease. "You may not have Parkinson's, but there's a chance in any given year that you may develop it or some other similar life-altering illness," Reif said. "But unlike with a car, you can't go out and buy some sort of financial contract to get rid of this health risk. It's a risk that you face every year and there's nothing you can do about it without an advance in medical technology." For the risk-averse, medical technology reduces those risks and generates insurance value, Reif said. "This is similar to the value generated by auto insurance," he said. "People are willing to pay a little extra to avoid the risk of paying large bills if they wreck their car. Likewise, people are willing to pay a bit more to avoid the risk of falling ill. Which is why our framework shows that there's a really good reason why we might want to invest more money in researching cures for severe diseases, because they generate a lot of insurance value that is not being captured by traditional cost-benefit analyses." But then the question is, how much more value? "What we find is that it depends a lot on the type of disease the medical technology is addressing," Reif said. "The numbers are going to be vastly different from mild diseases to severe diseases." If you come out with a new lotion to treat a mild skin rash whose physical risks are "not huge," the insurance value of that innovation is still present "but it's basically trivial and small enough to ignore," Reif said. But treatment for severe diseases like Parkinson's, HIV or Alzheimer's disease might be undervalued by "300, 400 or 500 percent," Reif said. "With severe diseases, now you're talking about very large risks, and we find that the insurance value of treatments for these diseases is very large," he said. The policy implications of the paper suggest that "encouraging medical innovation may actually reduce risk more efficiently than giving people health insurance," Reif said. "And of course, they are complementary – you can give people health insurance and encourage medical innovation at the same time," he said. "Medical technology reduces physical risk, and health insurance reduces financial risk. But the physical insurance value of medical technology is often larger than the financial insurance value created by health care insurance. That suggests that medical technology, on its own, may do more to reduce health risk than financial health care insurance."
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Scooped by
Linda Holroyd
December 14, 2015 12:26 PM
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Top 10 Healthcare Predictions For 2016
As 2015 comes to a close, Frost & Sullivan experts and thought leaders gather together to predict the top 10 trends to expect during the coming year.
1. Next generation wearables hit a $6 billion market
The new generation of “medical” or “clinical wearables” is going to be equipped with more sophisticated sensing, capture and analytical functionalities, thus making the clinical utility of those devices more actionable. Currently, sales of healthcare wearables primarily involve monitoring technologies like those developed by Vital Connect and Proteus Digital Health; moving forward, technologies like the Quell from Neurometrix that provides therapeutic support will continue to gain traction.
Expect healthcare and consumer technology companies alike to be highly active in exploring strategic acquisitions of early stage wearable companies.
Frost & Sullivan’s recent study on consumer behavior to digital health shows approximately 24% of consumers currently use mobile apps to track health and wellness, 16% use wearable sensors and 29% use electronic personal health records. This trend is expected to continue as 47% of consumers would consider using wearables in the near future.
2. Retail care goes mainstream with 35% expansion of in-store clinic footprint
2015 witnessed retailers allocating a great deal of investment toward expanding their clinical footprint, acquiring new tools and forming unique partnerships with healthcare companies. Consequently, 2016 should see the efforts of those machinations as retailers begin to fully execute their strategies for becoming the front line of primary care services.
3. New Development Bank (NDB) invests heavily in healthcare, changing dynamics in many countries
With a total capital of $100 billion, the NDB was formed as an alternative to other world banking organizations dominated by American and European stakeholders. Formerly the BRICS (Brazil, Russia, India, China, South Africa) Bank, the NDB is focused on improving the lives of citizens in developing nations. Its key initiatives include significant infrastructure investment in healthcare and wellness services for underserved populations.
4. Rapid Expansion of Private Insurance in India finally unlocks untapped market
Through March 2014, only 17% of Indians were covered by health insurance, resulting in a high (more than 75%) out-of-pocket burden for care. The new government is prioritizing healthcare, through the National Health Assurance Mission, which will provide free drugs and diagnostic services as well as help individuals gain access to low-cost insurance schemes.
5. Population Health opportunity drives over $50 billion in healthcare M&A
Long term corporate strategy aligned with opportunities tied to population health management is expected to drive decision-making tied to corporate restructuring, M&A, spin-offs, R&D spending and venture arm investments. Industry participants must evolve or risk obsolescence in a new healthcare industry paradigm where compensation is tied to outcomes.
The requirements for population health tools are forcing companies to consider their acquisition strategies differently, leading to more transactions involving companies in adjacent or complimentary markets.
6. Less expensive and faster point of care (POC) testing enables new diagnostic care models
Commercialization of new POC test platforms with capabilities such as molecular POC, connectivity features, biosensors and microfluidics is able to drastically improve turnaround times (5 to15 minutes) and allow for testing services to be performed in settings previously not feasible.
7. Free preventative care services available to over 90% in the U.S.
To mitigate the cost and care burden of late-stage chronic diseases, everyone from payers, employers, and the government will be offering a wide range of technology and wellness enabled preventative services. With access now available, it remains to be seen how engaged consumers will be in leveraging those services.
8. Healthcare IoT solutions spur $10 billion in venture capital investments for start-ups
The startup environment in healthcare is being reinvigorated by a wide spectrum of early stage companies looking to bring their IoT expertise honed in other industries to healthcare. With a focus on “disruptive” business models, these companies are looking to help tear down outmoded forms of care delivery and deploy approaches optimizing new tools and technologies.
9. Hospitals investing heavily in overhauling and retooling outdated facilities to avoid closure trends
Ongoing trends of hospital closures and consolidations are forcing hospitals to rethink everything from hospital layout to resource utilization. Initiatives like the $1.3 billion overhaul of Dallas’s Parkland Hospital are happening around the country, as those institutions seek to adapt to new forms of care delivery that emphasize efficiency and patient satisfaction.
10. The global regenerative medicine market to reach $30 billion in 2016
Pharmaco will see the regenerative market as its trump card as the business is expected to see growth rates of 22.4% from 2015. With growing investments in this area, favorable legislative policies and an increasing number of cell therapy marketed products this business will witness new competitors vying for a slot.
With these changes and disruptions looming ahead, it is essential for companies to start asking critical questions, such as whether there is a data and analytics strategy and platform in place. How will the company monetize population health management to align with value based care models in the future? How to start the process of building a patient engagement platform that goes across the care continuum and look at it from the patient or consumer’s point of view, not a company perspective? It is critical that as data science replaces the block buster drug or device as the king or queen of the healthcare world, companies start taking some risks and build a culture of collaboration to succeed in 2016.
This article was written with contribution from Venkat Rajan, Global Director of the Visionary Health practice with Frost & Sullivan’s Transformation Health program
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Scooped by
Linda Holroyd
September 28, 2015 2:55 PM
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New model can save time and money when treating chronic care patients Much has been written on the “Uberization” of healthcare and the potential benefits this model could provide in terms of cost reduction, improvement in efficiency of care, and judicious use of both manpower and resources. The prevalent consensus thus far is the Uberization of healthcare will be one of the defining healthcare trends of the 21st century. The core objective of this model is widely assumed to be the facilitation of primary care physician home visits. These home visits expect to benefit patients who are not ambulatory because of a disability or ailment. With two-thirds of the American population using a smartphone, coupled with network connectivity and high rate of Internet penetration, healthcare providers can target this large home care market. Patients can access custom apps allowing them to view doctors in the area, select a visit from a particular general physician (GP) and make an appointment. However, use of the Uber model for primary care home visits is debatable. A survey conducted by the American Academy of Family Physicians in 2013 shows home care visits declined from 19% a week in 2010 to 13% in 2013. This trend indicates patient mobility may not play as large a role in home visits as previously thought. Another major issue limiting Uberization of primary care is the current physician shortage in the U.S. Despite the number of primary care physicians increasing over the past five years, the number of primary care visits a year is a staggering 1 billion annually, making an average of 3,000 patient visits per physician. Conservative estimates expect the primary care physician shortage to go as high as 12,000 by 2025, with other estimates projecting a shortage of 31,000. The most acute shortages are currently seen in rural areas, with a current deficit of 4,000 primary care physicians. Only 10% of primary care physicians in the U.S. practice in rural areas, home to one-fifth of America’s population. With an existing primary care physician shortage expected to widen over the next decade, using physicians for house calls would adversely impact time between consultations and make a poor case for smart utilization of primary care physicians. Virtualization – Healthcare’s New White Knight? While Uberization of primary care through use of smartphone technology does not seem viable, the same technology can be leveraged toward virtual health services. A survey conducted by the American Hospital Association two years ago shows 76% of responders prioritized access to care over the need for human contact with providers. This survey showcases strong potential for growth in virtual healthcare. An international survey conducted in the U.S. shows only 29% of physicians indicated their practices made arrangements for ensuring after-hours care for patients, other than automated phone referral to the emergency department. Only 30% of patients in this survey described getting care on nights and weekends as “very” or “somewhat” easy. In another national parent survey conducted by Joseph S. Zickafoose, only 47% of patients reported access to their child’s primary care office on the weekend, 23% reported access to primary care after 5 p.m., and only 13% reported access to primary care physicians via email. Creation of virtual platforms enables patients to contact primary care physicians over video calls 24 hours a day will ensure greater real-time access to physicians. Virtual care could also reduce cost per consultation to about $40 to $50 over time and eliminate doctor visits. This would benefit insurers looking to reduce costs and improve efficiency of care provision. Primary care physicians could see more patients on a daily basis, as well as manage patients more effectively. For example, patients who are scheduled to see physicians for regular check-ups can do so over a virtual video call, while more serious patients can visit the doctor’s office in person. This practice allows primary care physicians to allocate more time and effort on patients requiring in-person care to improve health outcomes. This, of course, does not mean virtualization will completely replace the Uberization of healthcare. Virtualization can work with Uberization to create comprehensive patient management solutions, which will greatly benefit chronic care patients. Virtualization and Uberization of Healthcare – A Hybrid Solution to Patient Management in the 21st Century Chronic care management is perhaps the most critical component in the U.S. health system. Chronic diseases are on the rise and expect to kill approximately 64 million people each year in the U.S. Four-fifths of healthcare spending is driven by chronic conditions, most of which are lifestyle diseases. Chronic care requires continuous patient management as opposed to one-off surgical or medical intervention. Currently, 71% of chronic patients are managed through face-to-face meetings with primary care physicians and specialists, while 50% of chronic patients are also supported by home visits. To facilitate efficient patient management, it is essential to monitor patient health in real time and share this information along the care continuum. While wearable technology is currently used to monitor and share a range of health parameters such as blood pressure, heart rate, oxygen saturation, etc., without requiring a doctor or caregiver to be physically present, monitoring for some chronic conditions will require high-end imaging solutions. In such a scenario, Uberization of health can create an extension model of care provision. In this model, specially trained diagnosticians can partner with ride-sharing services to bring portable imaging services to the patient’s home. Portable ultrasound, MRI and CT devices can be leveraged to improve efficiency of diagnosis, with results transmitted via encrypted networks to doctors and patients post-analysis. Doctors can then make an appointment with the patient either in person or virtually, based on the results. The Tricoder – From Star Trek to Med Tech For fans of the Star Trek series, the Tricoder needs no introduction. For the uninitiated, the Tricoder is a handheld device used to record, store and analyze data. To this end, there has been interest in creating a medical Tricoder allowing patients to self-diagnose, store and analyze health data. While there has been resistance to the idea of patient self-diagnosis, including from the FDA, there is tremendous potential for medical Tricoder adoption among care providers. Care providers can work with device firms to create Tricoders that capture multiple parameters of health data and store for later analysis. Diagnosticians can partner with ride-sharing services to reach patients who are unable to visit the diagnostic lab. Tricoders can be used to record health data not already captured by wearable technology. Data on these devices can then be transmitted to cloud-based servers for analysis and then to the doctor. Conclusion Virtualization of health has and will continue to revolutionize the way care is provided. However, physical human presence will remain the backbone of the care provision spectrum. To this end, Uberization will have a huge role in connecting caregivers and patients outside of doctor’s offices, hospitals and diagnostic labs. With a shift in focus from intervention to patient management, aggressive monitoring without putting a strain on already limited resources and manpower is necessary. To achieve this goal of aggressive monitoring, it is essential caregivers utilize both virtualization and Uberization to create hybrid solutions to meet current and future demand. This article was written with contribution from Sowmya Rajagopalan, Research Manager with Frost & Sullivan’s Transformation Health Program
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Scooped by
Linda Holroyd
June 25, 2015 10:54 AM
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These mobile-centric digital-health startups have collectively raised over $1.3B. Patients can now text doctors, request house visits, and consult therapists — all from their phones.
See which “Uber for X” startups have momentum and which don’t at our Rise of the On-Demand Economy webinar.
The multi-trillion dollar healthcare industry is getting a makeover from mobile apps.
Many of these startups are bringing the on-demand phenomenon to healthcare, providing app-powered services such as medical-marijuana delivery and therapist sessions. Teladoc, a telemedicine provider that recently filed for an IPO, is backed by investors including Kleiner Perkins and Trident Capital. Teladoc handled nearly 299,000 patient consultations in 2014. Meanwhile, startups such as First Opinion allow consumers to text questions to doctors 24/7, and Pager and Medicast extend into on-demand house visits.
Other sets of companies focus on diabetes-management tools and fertility tracking. The graphic below breaks down a selection of startups offering or planning to offer mobile health services. In aggregate, they have raised $1.3B across 114 deals. Click the graphic to expand.
Below is a full list of the companies in the graphic broken down by target area. If there are other emerging companies that you think should be highlighted, let us know in the comments. Note: Mobile fitness and general health-tracking apps were not included.
The Rise of Mobile Healthcare
Company Select Investors Category
Glow Founders Fund, Andreessen Horowitz, Formation 8 Fertility & Pregnancy Tracking
Bellabeat SV Angel, Universal Music Groupe, CrunchFund, Promus Ventures Fertility & Pregnancy Tracking
Clue Hoxton Ventures, Joanne Wilson, Groupe Arnault, Brigitte Mohn Fertility & Pregnancy Tracking
Ovuline Lightbank, Techstars Ventures, LionBird, BlueCross BlueShield Venture Partners Fertility & Pregnancy Tracking
Alt12 Apps InterWest Partners, Felicis Ventures Fertility & Pregnancy Tracking
Kindara SOSventures, Drummond Road Capital Fertility & Pregnancy Tracking
TalkSpace Spark Capital, Softbank Capital, Metamorphic Ventures On-Demand Therapy
Thrive Network Mayfield Fund, SoftTech VC On-Demand Therapy
PillPack Atlas Venture, Accel Partners, CRV, Menlo Ventures, Sherpa Ventures, Box Group Pharmacy Delivery
Pager Lux Capital, Montage Ventures, Goodwater Capital, Mayfield Fund, Summation Health Ventures On-Demand House Visits
Medicast - On-Demand House Visits
Heal Paul Jacobs, Lionel Ritchie, March Capital, Jamie McCourt On-Demand House Visits
Dose - On-Demand House Visits
Go2Nurse - On-Demand House Visits
CurbsideCare - On-Demand House Visits
Teladoc Trident Capital, HLM Venture Partners, Cardinal Partners, Kleiner Perkins, New Capital Partners Telemedicine / Remote Doctors & Health Assistance
Doctor On Demand Venrock, Google Ventures, Shasta Ventures, Andreessen Horowitz, Lerer Hippeau Ventures Telemedicine / Remote Doctors & Health Assistance
American Well Tava Pharmaceuticals, Thomas Spiegel Family Foundation Telemedicine / Remote Doctors & Health Assistance
MDLive Heritage Group, Kayne Anderson Capital Advisors, Sentara Healthcare Telemedicine / Remote Doctors & Health Assistance
TouchCare Mosaic Health Solutions Telemedicine / Remote Doctors & Health Assistance
Spruce Health Kleiner Perkins, Baseline Ventures, Google Ventures, Cowboy Ventures Telemedicine / Remote Doctors & Health Assistance
PingMD Lambda Funds Telemedicine / Remote Doctors & Health Assistance
Sherpaa Health First Round Capital, SV Angel, Softbank Capital, O’Reilly AlphaTech Ventures, Draper Associates Telemedicine / Remote Doctors & Health Assistance
Maven Clinic Great Oaks VC, Box Group, Matt Mullenweg, F Cubed Telemedicine / Remote Doctors & Health Assistance
HealthTap Mayfield Fund, Khosla Ventures, Mohr Davidow Ventures, Innovation Endeavors Telemedicine / Remote Doctors & Health Assistance
Better Mayo Clinic, The Social+Capital Partnership Telemedicine / Remote Doctors & Health Assistance
ZocDoc Founders Fund, Khosla Ventures, Bezos Expeditions, Goldman Sachs, Digital Sky Technologies Appointment Scheduling & Prep / Doctor Discovery
BetterDoctor Commerce Ventures, Kima Ventures, SoftTech VC, NEA, Lifeline Ventures, 500 Startups Appointment Scheduling & Prep / Doctor Discovery
Practice Fusion (Patient Fusion) Salesforce Ventures, Felicis Ventures, Morgenthaler Ventures, Founders Fund, Kleiner Perkins, SV Angel Appointment Scheduling & Prep / Doctor Discovery
One Medical Oak Investment Partners, Benchmark, DAG Ventures, Maverick Capital, Google Ventures Appointment Scheduling & Prep / Doctor Discovery
Gamgee Vinod Khosla Appointment Scheduling & Prep / Doctor Discovery
Zesty Mangrove Capital Partners, Qualcomm Ventures, Innovation Capital, ABRT Venture Fund, TA Venture Appointment Scheduling & Prep / Doctor Discovery
DocPlanner Point Nine Capital, Piton Capital, RTAventures, Fabrice Grinda Appointment Scheduling & Prep / Doctor Discovery
Mango Health Kleiner Perkins, First Round Capital Adherence
MediSafe Qualcomm Ventures, Pitango VC, TriVentures, Lool Ventures Adherence
Glooko Canaan Partners, Medtronic, Samsung Ventures, The Social+Capital Partnership Diabetes Management
One Drop RRE Ventures, Capital Factory, Neu VC, Box Group, Launch Fund Diabetes Management
mySugr Roche Venture Fund, iSeed Ventures Diabetes Management
Eaze Solutions Doll Capital Management, 500 Startups, Fresh VC, Casa Verde Capital Medical Marijuana Delivery
Meadow Care Y Combinator Medical Marijuana Delivery
Nugg - Medical Marijuana Delivery
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Scooped by
Linda Holroyd
April 2, 2015 4:30 PM
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The Equal Employment Opportunity Commission rattled the business community late last year when it filed suit against Fortune 100 conglomerate Honeywell International for including too much “stick” in its corporate wellness program. Honeywell’s program included penalties for employees who refused to participate in a biometric testing regimen, raising the cost of their company-subsidized medical coverage. A U.S. District Court judge denied the EEOC’s attempt to block the effort, but many companies are still worried they’ll be slapped with a federal suit of their own as the EEOC seeks to clarify its position and the federal government moves forward to adopt new regulations governing the practice. To figure out how businesses with wellness programs are responding, The Post sat down with Bryce Williams, president and chief executive of Healthmine, to talk about the company’s new opening in its Washington office for a senior director of wellness compliance. Healthmine is a Dallas-based company that manages wellness programs on behalf of employers, acting as a third party between a company and its employees. The interview has been edited for brevity and clarity.
Why are you investing in a compliance officer? Why now? The reason we’re opening this position is we’re trying to crack the code on “how can we make wellness perform as well as the rest of your health plan.” The Affordable Care Act is heavily incenting wellness spending, heavily protecting it, but there are almost no high-performing wellness plans out there. We know that coming soon is a whole new set of wellness regulations that define what employers can and can’t do. We need to get ahead of that and have someone in place to help us shape our strategy around the new regulations. We think this is a really, really important position that is literally at the crossroads of where the ACA has brought us over the last three or four years — and the next three or four years of where it’s going.
Apart from the obvious need to avoid a lawsuit, why do employers care about wellness programs? Why all the emphasis on cash incentives? From employers’ perspective, they’re spending probably well over a trillion dollars a year now for employer-sponsored plans. But because they’re paying for a lot of Americans’ health care, they want to have a say in how those dollars are being used, whether they’re being used effectively. So there’s a healthy tension between the government wanting to create a rational set of rules, a rational marketplace, and companies wanting to make sure that they can incentivize employees to take certain actions that they know will improve their health and therefore help the company control costs.
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Scooped by
Linda Holroyd
April 2, 2015 12:12 PM
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April 2 is National Employee Benefits Day. This year, the focus is on Wellness 2.0 — the movement to expand employer wellness programs to encompass all areas of total well-being: body, mind, wallet, community and work.
The International Foundation of Employee Benefit Plans encourages those in the industry to celebrate by examining ways to increase overall health, and offers some ideas for each of the five areas of well-being to help kick start a wellness program:
Body
• Free or discounted flu shots
• Smoking cessation program
• Chiropractic services
• Health risk assessments (HRAs)
• Disease management program
• Acupuncture
• On-site massage therapy
• Wellness competitions such as fitness challenges
• Health coaching
• Healthy food choices in cafeteria or vending machines
• Weight loss/management program (on-site or subsidized)
• Nutrition counseling
• Organized group run/walk events
• On-site fitness equipment/center
• Gym membership subsidies
• On-site exercise classes
• Healthy food at staff/trustees' meetings
• Activity/exercise breaks during work time
• Standing work stations
• On-site walking trails/paths
• Employer-sponsored sports teams
• Fitness equipment discounts
Mind
• Employee assistance program (EAP)
• Mental health coverage
• Critical incident/crisis response counseling
• Stress management program
• Mental health assessment included in health risk assessment
• Massages
• Mental health return to work program
• Gratitude/appreciation journals/initiatives
• End-of-life counseling
• Mental health first aid training (i.e., training to identify and help individuals that may be developing a mental health problem or in a mental health crisis)
• On-site meditation classes
Wallet
• Competitive pay
• Comprehensive benefits package
• Retirement planning workshops
• New hire orientation on your organization’s retirement plan
• Free personal finance consultation sessions
• Projected account balance statements and/or pension benefit statements
• Retirement income calculators
• Budgeting workbooks
• Financial literacy education
Community
• Community charity drives (e.g., food drives, school supplies, etc.)
• On-site events/celebrations (e.g., wedding/baby showers, cook-offs, bake sales, department parties/potlucks, etc.)
• Staff outings (e.g., golf, tours, parks, bowling, holiday parties, pro sports games, picnics etc.)
• Community volunteer projects
• Blood drives
• Cultural/diversity initiatives or training
• Themed dress-up days
• Game leagues (e.g., bocce, cribbage, etc.)
Work
• Vacation/time off encouraged
• Service recognition
• Tuition reimbursement
• All staff is notified of internal job openings and qualified candidates are encouraged to apply
• Retirement celebrations
• Flexible work hours/telecommuting
• Performance reviews tied to organizational mission
• Subsidized continuing education opportunities
• Manager training
• Mentorship program
• Transfers are encouraged when internal opportunities better fit worker interests
• Leadership opportunities outside job hierarchy structure via teams, committees and/or councils.
• Workers can review job descriptions and edit/redesign their jobs
• Creative/autonomous built-in worker time (i.e., flexibility to spend a certain amount of time on independent/"pet" projects)
• Stay interviews (i.e., periodic meeting designed to keep and engage talented workers)
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Scooped by
Linda Holroyd
March 23, 2015 6:27 PM
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In the five years since its passage into law, the Affordable Care Act has and will continue to attract criticism and scrutiny. Whether it is the GOP commitment to repeal the Act or the current Supreme Court case that could potentially undermine the health insurance exchanges, there is no lack of controversy around the ACA. But behind the noise and confusion, there are some major forces at work that are driving new models of care and changing the way we practice, pay for, and evaluate health care. Your doctor may not even realize these changes are occurring but here are five ways your visit might be different than five years ago. 1. Your physician might be part of a patient care team. New payment models in the ACA, such as accountable care organizations promote team-based care. There is growing evidence that shows providing care in a team can lead to higher quality care and better health outcomes for patients. Also, at a time in which the demand for health care is increasing-- both because the ACA expanded coverage and the population is aging and requiring more care -- a team can support doctors by taking on routine administrative tasks, patient follow up, and coordinating your care with other doctors. Care teams may also be interdisciplinary, including non-clinical staff such as social workers, behavioral and community health workers and patient navigators when necessary. This allows doctors to spend time providing more intensive, specialized care such as diagnosing patients and devising a treatment plan. As a result, you might interact more with non-physician staff when it comes to follow up calls, medication instructions or symptom management. In some cases, patients might also work with social workers or patient navigators to help them access housing or job training. 2. Prevention and wellness are more important than ever. One of the biggest steps the ACA has taken toward encouraging a culture of wellness and prevention was ensuring that health plans covered all preventive screenings, immunizations and well visits for women at no cost. Since the policy took effect in September 2010 it is estimated that an additional 76 million people now receive preventive care. The law also included these services among the Essential Health Benefits; the minimum benefits required in order for health insurance plans to participate in the Obamacare exchanges. Moreover, under new payment models, doctors are now being financially supported to take a more proactive approach to patient care and making sure their patients are healthy, rather than only treating them when they are sick or come in for visits. Therefore, patients may experience more interactions with members of the care team when it’s time for recommended tests, immunizations, or well visits. 3. You may have better access to care on evenings and weekends. To participate in new payment models such as bundled payments, practices are often required to offer extended hours for their patients on evenings and weekends to reduce the overuse of expensive and unnecessary emergency room visits. Many patients can now expect to call their doctor’s office and get clinical advice at any time. For example, a new model for treating cancer patients requires that participating practices provide their patients with 24/7 hour access to a clinician who has real-time access to their medical records. 4. Chances are your health information is being stored in an electronic health record, not a paper file. An electronic health record (EHR) is a digital version of a patient’s medical chart, which if used appropriately can significantly improve patient care. While the use of EHRs was encouraged through a separate law from the ACA (and significantly increased provider adoption of these tools), participation in the new ACA-promoted delivery models is practically impossible without the use of EHRs. Depending on how advanced they are, EHRs can be used to improve a patient’s care in several different ways. For example, doctors can set up online patient portals where patients can receive educational materials, view a history of their visits or lab results. More advanced systems can use EHR information to predict when a patient’s health is deterioratingso that life threatening conditions such as cardiac arrest can be prevented. However, there is still a long way to go before patients can expect for their information to be seamlessly integrated and exchanged across different doctors and settings in real-time. 5. You can access care remotely, wherever you are. Increasingly, to keep their patients healthy, doctors are using mobile technology and virtual visits to provide care in rural or remote areas and to make themselves more efficient and available to patients. The uptake of these technologies means that patients can consult and communicate with their doctors through a variety of user-friendly internet, mobile, and video tools without having to physically be in the office. For example, services like NowClinic allow patients to “meet” with a physician by communicating over the phone or via instant messaging. Patients can receive a diagnosis for minor conditions without having to leave home or work. The trend is being picked up by several large insurance companies and employers to save costs related to in-office visits, but also for offering access to care that might otherwise be sought out in the emergency room or that might be delayed and cause more serious illness. Kavita Patel is Managing Director of Clinical Transformation, Engelberg Center for Health Care Reformand Fellow, Economic Studies at the Brookings Institution. Domitilla Masi is Research Assistant, Economic Studies,Engelberg Center for Health Care Reform. This article first appeared on the Brookings Institution website.
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