The Global Tilt and Why You Must Rethink the Future of Medical Technology - Thomas Loarie,...
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Transcript of The Global Tilt and Why You Must Rethink the Future of Medical Technology - Thomas Loarie,...
RESET: The Global Tilt -Why You Must Rethink the FutureWhy You Must Rethink the Future
of Medical Technology
. Marcus EvansJune 26, 2014
Thomas M. Loarie, Executive Chairman
eMedonlineMedication Therapy Management PlatformMedication Therapy Management Platform
• Designed from the patient out
Value propositions• Value propositions • Proven behavior change• Data and analytics
• Scientifically based (Parks)• 98% Compliance98% Compliance • 10 controlled clinical studies • Managing patients taking up to 27 meds/day
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eMedonline
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Markets
• Care TransitionC C• Chronic Care Management
• Specialty Pharma• Clinical Trials• Analytics for Pharma & Providers
4 7/1/2014
Road Map
• The Evolution of Healthcare in My Lifetime • Global Drivers of Transformation• Reactions to Forces• Foundation of Globalization• Foundation of Globalization• Future Medtech Opportunities• What Does This Mean for You?
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Transforming Events 1960-2014
•For Profit Hospitals
House Calls Hospital •HMOs•Hospitals M&A
•Segmentation•Doc in the Box
M&A
1970 1980 1990 2000 20101960
Health Reform
Transforming Events 1960-2014
Cuts in Funding to AeroDefense •Health Reform
•TEFRA•DRGs
i
•Kessler FDA•M&A
•ACOs•M&A Hospitals
FDA A t •Segmentation•Marketing
M&A
Globalization
•FDA ActTransforming Events 1960-2014
1970 1980 1990 2000 20101960
Social Security Act of
•FDA Modernization Act CMS takes front seat
•The Great Recession•Implosion of Venture Capital
•GoldStandard•Emergence of Multi National Act of
1965•CMS takes front seat Venture CapitalMulti-National
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Global Drivers of Transformation
• Technological advances• Demographic changesg p g• Global Networks• Global economic shifts• Urbanization• Resource scarcityy• Climate
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Global Population 1950 - 2050
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Death of Silos & Growth of Global NetworksNetworks
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Virtual currency and payment systemssystems
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US Companies are BrokenMany Don’t Know ItMany Don t Know It
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Forces Disrupting the Balance in HealthcareHealthcare
A i l ti• > Aging population
• > Chronic disease• > Chronic disease
• > Public spendingp g
• > Taxpayer revolt
• > Global middle class
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25 %25 %
25 %25 %25 %25 %Of CostsOf CostsOf CostsOf Costs
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Big Need - Solutions to Manage Costliest Chronic DiseasesCostliest Chronic Diseases
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The Global Middle Class is Booming
P. 207/1/2014
New Health Care Economy - US
• FFS to Value Based Pay• FFS to Value Based Pay
• Risk Shifting to Providers
• Care Mgmt Shifting to Doc
• Incomes Tied to Outcome and Volume
• Clinical and Economic Evidence
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Figure 3. Potential points of innovation
Shift delivery from discrete services based organizations (e.g. specialists) to team based models that address a patient’s overall need
Care delivery model
Transition from dominant payment models (FFS or Global Capitation) to reimbursement models that reward providers for improving the value of care
Payment model
Network model
Move from competitive single tier networks to multi‐ site networks that address adequacy yet support superior
services delivery
Value-driven care
services delivery
Transition from measurement of process based compliance and cost of charges to activity based cost accounting and
Analytics
& outcomes
Clinical
integration
Reorganize provider facilities to focused factories with defined niche services and concentratedvolume tobased cost accounting and
outcomes tracking concentratedvolume to
integrate care
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Information Technology Integration technology that transitions from siloed systems leveraging
aggregation of data, connectivity to all stakeholders and experts systems that allow for seamless sharing and engagement
New EntrantsOf Fortune 50 companies, 24 are new entrants The top companies also include 14 traditional healthcare organizations
Fortune 50 companies 7 Retailers
14 Traditional
5 TechnologyTraditional
healthcare companies 24
New entrants
5 Technology
entrants
4 Finance $$$$
3 Telecommunications
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2 Automotive 3 Consumer products
Disruptors
24 7/1/2014
D-Rev Non-profit medical product development company p p p p y
Designs and delivers products for people living onDesigns and delivers products for people living on less than $4 a day.
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Disruptors
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Globalization of U.S. Medical Care
• Global distribution of U.S. developed devices and drugs
• OUS clinical researchOUS clinical research
• Reverse brain drain • physicians & engineers• physicians & engineers
• Manufacturing expanded OUS
• U.S. multi-nationals expanding OUS product research
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OUS p oduct esea c
Disruptors - OUS
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Destination Medicine
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Destination MedicineAKA Medical TourismAKA Medical Tourism
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Expansion into Emerging Markets
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Globalization U S based > research centers in ChinaU.S. based > research centers in China
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Generic Therapeutic DevicesA threat to legacy marginsA threat to legacy margins
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Globalization China based > U S presenceChina based > U.S. presence
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Globalization of Delivery
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Globalization of Delivery
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eHealthPredicting Asthma Attacksg
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“What is the Meaning of Your Life?gThe World is Asking You That
Question ”Question…-Viktor Frankl
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Shape Your Identity or It Will Shape You
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Global Experience
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The Two Most Important Days In Your LifeLife….
…are the day you are born and the day you find out why! - Mark Twainy
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