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Technologies that will Impact Healthcare of the FutureTechnologies that will Impact Healthcare of the Future
Are we Ready to Tackle Consumer Expectations?Are we Ready to Tackle Consumer Expectations?
Aarti Shetty, Senior Industry Analyst
Healthcare
08/22/201208/22/2012
© 2012 Frost & Sullivan. All rights reserved. This document contains highly confidential information and is the sole property of Frost & Sullivan. No part of it may be circulated, quoted, copied or otherwise reproduced without the written approval of Frost & Sullivan.
Today’s Presenter
Aarti Shetty, Senior Industry Analyst
Frost & Sullivan
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�Over 5 years of research expertise, which include business and scientific/academic research
�Experience base covering broad range of sectors, leveraging long-standing working relationships with leading industry participants’ Senior Executives- Orthopedics, Medical Imaging, Obesity Devices, Biomaterials, Wound Care, Tissue Engineering and others
Focus Points
• Healthcare of the Future
• Discussion on Influencing Factors
• Patient Cycle Segments
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• Innovative Technologies in Each Segment
• Summary
Poll Question
According to you, what is the most important issue to tackle in the next 10 years:
• Curtailing healthcare costs
• Providing access to healthcare to all
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• Consumers taking personal responsibility of their health
Healthcare of the Future
Why should we start thinking about healthcare of the future?
• Aging baby boomers
• Informed patient population
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• Power of technology
• Increasing healthcare costs
National Healthcare Expenditures
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
Ex
pe
nd
itu
res
($
Bil
lio
ns
)
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1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
4.6%
4.8%
5.0%
5.2%
5.4%
5.6%
5.8%
6.0%
6.2%
6.4%
1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Medical Devices Market: Device Spend as Percent of National Healthcare Expenditure, United States, 1989-2009
Ex
pe
nd
itu
res
(%
)
Source: Frost & Sullivan analysis.
Market Drivers and Restraints Discussion
Medical Devices Market: Key Market Drivers and Restraints United States, 2012-2018
1-2 years 3-4 years 5-7 years
Patient demographics create the demand for new technologies that improve quality of life and reduce the risk of procedural complications.
Care models focused primarily on wellness and prevention should lead to earlier detection and higher utilization.
Telehealth and demand in care settings outside of the
hospital necessitates new/modified devices.
Dri
vers
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hospital necessitates new/modified devices.
Underserved treatment segments including neurology and
pulmonary represent growth opportunities in the market.
Restr
ain
ts
Impact: High Medium Low
Government influence on regulatory process impacts time-to-market and adoption.
Complex purchasing environment requires building
consensus among various influencers that impact decisions.
On-going reimbursement cuts and cost-containment
measures in United States healthcare have restricted the
market.
Source: Frost & Sullivan analysis.
Segmentation by Activity
Healthcare Spending by Type of Activity
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Patient Satisfaction is Central to the Success of Providers
6%
Hospitals Promoting New Policies, Guidelines, or Initiatives in Last 12 Months to Improve
Patient Satisfaction
18%
82%
Importance of Patient Satisfaction on Hospital’s Financial Health
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94%
Promoting Not Promoting
Note: N=17 hospital CFOs surveyed in 2011.
Very Important Somewhat Important
Neither Important Nor Unimportant Somewhat Unimportant
Very Unimportant
Consumer
Retailing & Finance� Customer service focus� Comparison shopping� Self-service, online shopping� Special offers
Manufacturing & Distribution� Faster time to market� One stop shop� Anytime anywhere
Patient Comfort and Satisfaction
Consumers expect Consumers expect
Consumer experiences in other markets affecting expectations from healthcare:
Key success factors• Utility• Ease of use• Engaging, not sterile
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ConsumerExpectations
Entertainment & Media� Customized products� Home services
� Anytime anywhere care
24 / 7 / 365 support to resolve questions,
One stop resolution, or call back
Proactive outreach to address issues affecting consumer
24 / 7 / 365 support to resolve questions,
One stop resolution, or call back
Proactive outreach to address issues affecting consumer
Ability to control and customize use and service features
Consumer controls interaction
Ability to control and customize use and service features
Consumer controls interaction
Consumers expect real time info at pt of consumption
Info comes to consumer
Consumers expect high levels of interaction and Q&A in face to face encounters
Consumers expect real time info at pt of consumption
Info comes to consumer
Consumers expect high levels of interaction and Q&A in face to face encounters
Shift in Focus
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Source: Frost & Sullivan analysis.
Preventative Technologies
Patient Education Aging in
Place
Markets in Preventative Healthcare Markets
•Patient Education: Patient education include systems that provide information, whether they may be mobile or online guides, about a specific medical condition or instructions for post-treatment care.
•Out of Hospital Elderly Care: Out of hospital elderly care include services that allow elderly patients to manage their health within the comfort of their own home and send such information to their healthcare providers.
•Remote Monitoring Devices: Remote monitoring devices are devices that allow patients to monitor their health within the comfort of their own home and send such information to their healthcare providers.
Remote
Monitoring
Devices
Technology Showcase - Preventative Market
Patients Like Me• Social networking site: members connect with patients with similar medical conditions• Learn and share information about treatment methods, how to check for symptoms, and how to monitor their health.• Patients who are new to certain medical conditions can learn from real life outcomes
Healthsense eNeighbor• Remotely detects movement and vital signs• Allows physicians and family members to log in to the eNeighbor System to retrieve information about patient’s activity and current medical statuses
eNeighbor Exit Care iTriagePatient
EDUWebMD Pill Alerts Logicare
Patients
Like Me
Pill Alerts• Ingestible pill that alerts physicians and care givers when swallowed through a signal emitted by a microchip and antenna within the pill capsule•The signal is transmitted to an external electronic device that can provide information to computer or cell phone•Device is powered by a low voltage charge from the external electronic device, does not require a battery
Diagnostic Technologies
Overview of Diagnostic Technologies
• Records Reform
• Self-Diagnosis
• Molecular Diagnostics
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• Mobile Applications
• Remote Monitoring
Technology Showcase - Diagnosis Market
Streamline Health• Enterprise solutions and services for content management and integration•Patient financial services solutions•Health information management solutions
23andme-Genetic testing to predict future health profile-Consumers send in a sample of their spit to analyze-Results show how genes will impact health of the individual and list disease risks and drug response
23andmePatient
SecureMASH Allscripts eClinicalWorks
Streamline
HealthCardioscan
eClinicalWorks
- Intuitive electronic medical record system that improves quality of care for patients- Allows patients to communicate with their physicians through a Patient Portal and provides important medical educational information- Provides a management tool for appointments, medical bills, and important data
Treatment Technologies
Overview of Treatment Technologies
• Disease Management
• Prevention Control
• Management of Chronic Diseases
• Miniaturization
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• Personalization
• Surgery
• Robotics
• Minimally Invasive Tools
Technology Showcase -Treatment Market
M7 Bot•Telepresence surgery device that allows doctors to perform surgical procedures from anywhere in the world via Ethernet or radio link•Controls are intuitive for surgeons, offers force feedback equipped controls and high definition sound and optics
HyGreen• Hand hygiene recording and reminding system• Protect patients and staff from HAI•Lower costs by lowering infection
Xenex HyGreen Sensiotec IMPRESSTitan
Medical
Radianse
SystemDa Vinci M7 Bot
Radianse System• Used to track, monitor, and locate patients, doctors, and expensive equipment within the hospital in real time•Comprised of ID-Tags, wall mounted receivers, an application server, and a suite of web based software applications•Real time interaction data between patient and staff is combined with clinical data
Poll Question
According to you, advancement in which component of the patient cycle should be prioritized in the next 10 years:
• Prevention
• Diagnosis
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• Therapeutics
• Treatment
What does the future hold?
1 Reimbursements for healthcare providers will include a prevention component.
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Source: Frost & Sullivan analysis.
2Newer methods of treatment to move patients from hospital to home settings will emerge
3Consumers will begin to take an increased responsibility for their own health.
Next Steps
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For Additional Information
Britni Myers
Corporate Communications
Healthcare
(210) 477-8481
britni.myers@frost.com
Aarti Shetty
Senior Industry Analyst
Healthcare
(650) 475-4552
aarti.shetty@frost.com
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Venkat Rajan
Industry Manager
Advanced Medical Technology
(210) 247-2427
venkat.rajan@frost.com
Joe Stoken
Sales Manager
Healthcare
(650) 475-4537
joe.stoken@frost.com