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.

  RosettaHealth can assist with any health information challenges you might have, book a free consultation with one of our interoperability experts.