The mobility megatrend that has transformed our society so significantly will also alter the practice of medicine in profound ways. Even though healthcare moves at a much slower pace than consumer markets, there is no doubt of the shift that is occurring. Medical device manufacturers up to now have enjoyed a position of paramount importance in the healthcare ecosystem. Diagnosis, treatments and procedures were performed solely in the hospital or at the doctors’ office. High reimbursements for devices in a pay-for-transaction model ruled the day.
IoT and mobility are helping to accelerate a much more complex and interconnected healthcare ecosystem. Medical devices are now sharing the spotlight with companies that analyze data to deliver much higher levels of intelligence. In the coming pay-for-value environment, and accompanying reimbursement schemes propelled by the Patient Protection and Affordable Care Act (PPACA), a large percentage of profitability will shift away from the stand-alone medical device to other data-focused clinical workflow, population health and consumer engagement elements in the connected healthcare ecosystem.
Solutions that have the ability to significantly bridge the massive gap between what we do now in our pay-for-transaction model to what we need to do will partake in more of the profits. This will include solutions that better define, enable, quantify, analyze, report on and pay the ecosystem properly and fairly for outcomes with true health improvements or quality of life value that drive better usage of healthcare dollars.
A new revolution of data-driven health decisions and care delivery is at hand. A network of linked devices and other objects collecting, sending and receiving data about people, environments and processes without human interaction or input will enable a new model of “connected health” not only for the chronically ill but for the entire population.
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