Global Healthcare Service as Product Solutions, 2016

Global Healthcare Service as Product Solutions, 2016

Medical Device OEMs are Starting to Share the Responsibilities of Patient Outcomes and Profit Margins with Providers

RELEASE DATE
19-Sep-2017
REGION
North America
Deliverable Type
Market Research
Research Code: 9AB9-00-61-00-00
SKU: HC02884-NA-MR_20760
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Description

Servicization of healthcare with innovative Platform-as-a-Service (PaaS) and Data-as-a-Service (DaaS) models are opening new revenue streams for medical device OEMs and are driving the future sustainability.

Focus on Healthcare:
As the focus of providers shift from treatment to diagnosis, prevention, and monitoring, PaaS and DaaS are expected to provide the required insights on patient management and operational effectiveness necessary for the providers. With the emergence of Affordable Care Organization (ACOs) and value-based reimbursement models, the financial risk is shifting from payers to providers and providers are in turn shifting the risk on medical device original equipment manufacturers (OEMs) to provide affordable and quality solutions.

The Need of the Hour:
Through new services and product solutions such as such as telehealth and remote patient monitoring, medical device OEMs are striving to provide cost-effective solutions that are expected to improve the long-term profitability of both providers and OEMs as well as that of payers and patients. Digitization of products, services, and care delivery models are set to transform the current healthcare systems, unlocking new values by displacing high cost care providers and previously inaccessible segments. More and more medical device OEMs are coming out with new digital health based products and services and these technologies and services are expected to drive the patient management and performance of providers through an intelligent, intuitive, and data-driven approach. Increased information access, awareness, and digital health technologies have not only empowered OEMs and providers but also empowered patients, thereby allowing increase in patient participation and helping patients manage their own health. Companies are incorporating socially beneficial elements into their business models that allow providers, payers, and consumers to drift toward such companies that help them improve their lives in a mutually beneficial way. Hospitals are taking initiatives to reduce the procurement costs and inpatient admission and emphasizing more on increasing outpatient and home healthcare as a part of their cost-containment strategy and patient outcome improvement programs. Hospitals are seeking to provide high-quality care at affordable costs by improving efficiencies and judicious management of manpower and resources. This is one focus area where providers need support from OEMs, which provides huge opportunities for OEMs, especially in saturated markets such as Cardiac Rhythm Management, Orthopedic Implants, etc. Further, to address the need of hospitals in providing value and efficiency in departments, OEMs are acquiring capabilities and turning data into actionable insights and creating service oriented future revenue streams.

Table of Contents

Executive Summary

Product Solutions—Overview

Shifting Care Delivery Focus from Treatment to Prevention

The Current Scenario of Healthcare Spending

Factors Shaping the Focus of Hospitals

Evolution of New Models of Care Delivery

Emergence of OEMs becoming Service Providers

Service as a Product Solution—Segmentation

B2B Clinical Care Service Examples—Selected Companies

The Need for Patient Management

Segmentation of Patient Management Solutions

Patient Management Solutions by Application

Patient Management Solutions Mapping

Patient Management Solutions Mapping—Examples

The Future of Patient Management

mHealth/Apps—Current Scenario

Patient Engagement through Mobile Applications—Realities and Roadblock

Insights from Frost & Sullivan’s Telehealth Services Survey

Patient Management Solutions—Market Adoption Attractiveness

Analysis of Telehealth and Remote Patient Monitoring Services

Analysis of Long-term Follow Up Solutions

Patient Management Solutions—Key Takeaways

Medtronic—Patient Management Solutions

Medtronic—Patient Management Solutions (continued)

Medtronic—Patient Management Solutions (continued)

Boston Scientific—Patient Management Solutions

Abbott Laboratories—Patient Management Solutions

LivaNova—SmartView Remote Monitoring System

Philips Healthcare—Telehealth

Philips Lumify—App-based Handheld Ultrasound Solution

Stryker Performance Solutions—JointCOACH

NeuroPace—Responsive Neurostimulation System (RNS)

Masimo Corporation—Telehealth (Masimo Patient SafetyNet)

Proteus Health—Proteus Discover

Neurometrix—Quell

Elekta—MOSAIQ Survivorship

eviCore—Benefit Management Solutions

MedSentry—Medication Adherence Monitoring System

Laerdal—SimCenter (Training)

NuVasive—Surgeon Education Program

Syncera—Platform-based OR Efficiency

Simulab—TraumaMan System

OR Efficiencies—Sterile Processing Training and Education Assistance

Performance Management—A Trend that is to Stay and Redefine Healthcare

Traditional vs. Performance Management-enabled Care Delivery—Comparative Ecosystem

The Need for Performance Management Solutions—Changing Payment Models

Market Attractiveness and Analyst Opinion—Performance Solutions

Comparison of Efficiency Management Solution by Key OEMs

Stryker Performance Solution—Episode Performance Manager

Zimmer-Biomet—Signature Solutions

Drager—Innovian Anesthesia

STERIS Corporation—STERIS Professional Services

Reimbursement Redefined—Shift in Payment Models Driven by Payers and Government

Emerging Business Model in Healthcare Space—Heat Map

Key Trends Driving Medical Device Industry Business Model Shift

Emerging Healthcare Business Models

Role of ACOs

Bundled Payments Example—Orthopedics Sector

Examples of Select Companies and their New Business Models

Examples of Select Companies and their New Business Models (continued)

Examples of Select Companies and their New Business Models (continued)

Public Private Partnership Models for Chronic Disease Management Initiative—Case Study

Growth Opportunity 1—Bringing Solutions to the Market that Enhance the Value Proposition for Payers, Providers, and Patients

Strategic Imperatives for Success and Growth—Key Factors to Consider

Key Takeaway

Legal Disclaimer

Legal Disclaimer

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Servicization of healthcare with innovative Platform-as-a-Service (PaaS) and Data-as-a-Service (DaaS) models are opening new revenue streams for medical device OEMs and are driving the future sustainability. Focus on Healthcare: As the focus of providers shift from treatment to diagnosis, prevention, and monitoring, PaaS and DaaS are expected to provide the required insights on patient management and operational effectiveness necessary for the providers. With the emergence of Affordable Care Organization (ACOs) and value-based reimbursement models, the financial risk is shifting from payers to providers and providers are in turn shifting the risk on medical device original equipment manufacturers (OEMs) to provide affordable and quality solutions. The Need of the Hour: Through new services and product solutions such as such as telehealth and remote patient monitoring, medical device OEMs are striving to provide cost-effective solutions that are expected to improve the long-term profitability of both providers and OEMs as well as that of payers and patients. Digitization of products, services, and care delivery models are set to transform the current healthcare systems, unlocking new values by displacing high cost care providers and previously inaccessible segments. More and more medical device OEMs are coming out with new digital health based products and services and these technologies and services are expected to drive the patient management and performance of providers through an intelligent, intuitive, and data-driven approach. Increased information access, awareness, and digital health technologies have not only empowered OEMs and providers but also empowered patients, thereby allowing increase in patient participation and helping patients manage their own health. Companies are incorporating socially beneficial elements into their business models that allow providers, payers, and consumers to drift toward such companies that help them improve their lives in
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Brahadeesh Chandrasekaran
Industries Healthcare
WIP Number 9AB9-00-61-00-00
Is Prebook No