Consumers Demand “Anywhere, Everywhere” Healthcare
The medical technology (MedTech) industry is being reshaped by digital health and consumers’ expectations to receive care how, when and where they want, according to a new report from Accenture.
Accenture surveyed more than 150 MedTech executives who are seeing a shift away from traditional healthcare models – and more towards digital health models that are improving patient outcomes.
“Healthcare is at a crossroads, facing unprecedented pressure and disruption — including affordability challenges, shifting patient expectations, and an increasing deluge of health data,” said Tim Durst, a managing director at Accenture, in this press release. “With a unique understanding of therapeutics, patients and providers, as well as insights gained from digital devices in the hands of patients, MedTech companies are well-positioned to lead the transformation to digital health. However, companies will need the proper digital foundation to leverage the necessary insights and create a comprehensive digital health solution.”
The report notes that developing the right connected products, services and programs for patients and providers remains a hurdle, citing implementation complexity and the lack of the right partners as primary challenges. In addition, nearly nine out of 10 executives (86%) said that technology and collaboration are key to addressing these challenges.
Accenture also identified five key trends driving future growth in MedTech:
The Consumer Patient: Healthcare is no longer a one-way interaction with the patient only on the receiving end; it now requires continuous engagement between patient, provider and payer.
Care Anywhere, Everywhere: As consumers increasingly expect to receive care how, where and when they want, healthcare is increasingly expanding from hospitals to ambulatory and at-home care locations.
The Rise of Digital Health: MedTech company leaders are prioritizing digital health by building capabilities in-house through investments in R&D, technology, digital and new business models.
Converging Sectors: The rise of digital in healthcare is also fueling non-traditional deals, with future success dependent upon various sectors converging to develop products and services across the entire care continuum.
New Regulatory Pathways: Digital Health may fall outside the bounds of established regulatory pathways for untested technologies, requiring new approaches from the sector.
Click here to access the full report.
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