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Mountain View, CA, United States, 2015/02/05 - The means to evaluate, pay for, and provide care will evolve to greater adaptability and targeted support from vendors - Frost.com.
Change in the healthcare industry has historically been slow owing to a complex ecosystem of stakeholders devoted to legacy systems and methods of operation. However, financial pressures and technology trends are accelerating the pace of change and are heightening the need for the global healthcare industry to adapt.
New analysis from Frost & Sullivan, Next-generation Healthcare Global Advanced Medical Technologies 2014 (frost.com/nde7), finds that healthcare delivery is transitioning from service type models toward business models built around value and quality of service. Companies with solutions around specific procedures or treatments could see attrition as cost pressures and reimbursements continue to undercut future market opportunities. Integrated platforms addressing wellness and preventive health, on the other hand, will capture new money funneling into the system.
“The future of healthcare sustainability requires a significant evolution in how value is compensated and what means and methods are used to pay for care,” saidFrost & Sullivan Healthcare Principal Analyst Venkat Rajan. “Solving issues plaguing the healthcare system will require the aggregate impact of many lower key changes rather than a handful of enacted macro overhauls.”
Many companies that have attempted to launch initiatives tied to wellness, connected health and disease management have stumbled in the endeavor as the solutions were not monetized properly or structured in a manner where customers could quantify use value. Rather than rigid, off-the-shelf solutions, the healthcare market is looking for greater adaptability and targeted support from vendors.
Further, although several participants have sought to launch services and value-add components to their offerings through big data solutions, there is little market value for generating, collecting and storing large sets of data. The key to data monetization involves integrating and leveraging information from multiple relevant sources to benchmark performance, identify risks, forecast trends and make recommendations.
“As opposed to discrete interactions, the provision of healthcare is moving to a model where information is transmitted and shared in real-time between individuals and caregivers,” explained Rajan. “Collaborative patient-centric disease management strategies and industry convergence will bridge the disconnect between various clinical specialties and transform care delivery models globally.”
Next-generation Healthcare Global Advanced Medical Technologies 2014is part of the Visionary Healthcare Growth Partnership Service program. This study analyzes trends impacting the future of healthcare delivery and market participants in the industry. The study looks strategically at some of the most significant transitions occurring in the industry and where future opportunities lie.
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Next-generation Healthcare Global Advanced Medical Technologies 2014 / NDE7-54