The Global Tilt and Why You Must Rethink the Future of Medical Technology - Thomas Loarie, eMedonline
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The document discusses the future of medical technology and why rethinking is needed. It outlines global drivers transforming healthcare like aging populations, chronic diseases, and the growing global middle class. Payment models are shifting from fee-for-service to value-based care, and care delivery is transitioning from specialist-focused to team-based models. New entrants from various industries are disrupting healthcare. Medical innovation will increasingly be globalized through international clinical trials, manufacturing, and research centers.
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The Global Tilt and Why You Must Rethink the Future of Medical Technology - Thomas Loarie, eMedonline
- 1. RESET: The Global Tilt - Why You Must Rethink the FutureWhy You Must Rethink the Future of Medical Technology . Marcus Evans June 26, 2014 Thomas M. Loarie, Executive Chairman
- 2. eMedonline Medication 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 2 7/1/2014
- 4. Markets • Care Transition C C• Chronic Care Management • Specialty Pharma • Clinical Trials • Analytics for Pharma & Providers 4 7/1/2014
- 5. 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? 5 7/1/2014
- 6. 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
- 7. 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 Act Transforming 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 NationalAct of 1965 •CMS takes front seat Venture CapitalMulti-National
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- 9. Global Drivers of Transformation • Technological advances • Demographic changesg p g • Global Networks • Global economic shifts • Urbanization • Resource scarcityy • Climate 9 7/1/2014
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- 11. Global Population 1950 - 2050 11 7/1/2014
- 12. Death of Silos & Growth of Global NetworksNetworks 12 7/1/2014
- 13. Virtual currency and payment systemssystems 13 7/1/2014
- 14. US Companies are Broken Many Don’t Know ItMany Don t Know It 14 7/1/2014
- 15. Forces Disrupting the Balance in HealthcareHealthcare A i l ti• > Aging population • > Chronic disease• > Chronic disease • > Public spendingp g • > Taxpayer revolt • > Global middle class 15 7/1/2014
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- 17. 25 %25 % 25 %25 %25 %25 % Of CostsOf CostsOf CostsOf Costs 17 7/1/2014
- 18. Big Need - Solutions to Manage Costliest Chronic DiseasesCostliest Chronic Diseases 18 7/1/2014
- 19. 19 7/1/2014
- 20. The Global Middle Class is Booming P. 20 7/1/2014
- 21. 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 21 7/1/2014
- 22. 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 22 7/1/2014 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
- 23. New Entrants Of 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 23 7/1/2014 2 Automotive 3 Consumerproducts
- 25. D-Rev Non-profit medical product development companyp p p p y Designs and delivers products for people living onDesigns and delivers products for people living on less than $4 a day. 25 7/1/2014
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- 30. 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 30 7/1/2014 OUS p oduct esea c
- 31. Disruptors - OUS 31 7/1/2014
- 33. Destination Medicine AKA Medical TourismAKA Medical Tourism 33 7/1/2014
- 34. Expansion into Emerging Markets 34 7/1/2014
- 35. Globalization U S based > research centers in ChinaU.S. based > research centers in China 35 7/1/2014
- 36. Generic Therapeutic Devices A threat to legacy marginsA threat to legacy margins 36 7/1/2014
- 37. Globalization China based > U S presenceChina based > U.S. presence 37 7/1/2014
- 38. Globalization of Delivery 38 7/1/2014
- 39. Globalization of Delivery 39 7/1/2014
- 40. eHealth Predicting Asthma Attacksg 40 7/1/2014
- 41. “What is the Meaning of Your Life?g The World is Asking You That Question ”Question… -Viktor Frankl 41 7/1/2014
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- 44. Shape Your Identity or It Will Shape You 44 7/1/2014
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- 47. The Two Most Important Days In Your LifeLife…. …are the day you are born and the day you find out why! - Mark Twainy 47 7/1/2014