Medical Devices in Health Solutions
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This week we’re delighted to feature a ‘my take’ written by our US colleague Harry Greenspun – MD, Director, Center for Health Solutions. We thought it would strike a cord with those fair weather cyclists who are starting to emerge from winter hibernation, but also to those of us interested in learning how the US Med-Tech industry is adapting to new value based payment models.
This week the Center for Health Solutions is delighted to bring you a guest blog from one of our consultants in health care and life sciences:
The life science industry is facing significant challenges such as patent cliffs, pricing and market access restrictions as well as increasing regulatory pressure. These challenges fundamentally call into question traditional business models and, as a result, life science companies are increasingly looking to new and innovative ways to tackle these challenges
Wearable technology is an industry that continues to grow and adapt to meet the ever-changing needs of our world. Many health- and fitness-related technologies have multiple applications and encourage wearers to be more engaged in their own fitness, help modify behavior by reminding wearers to exercise or take medication.
In December 2012, the Deloitte Centre for Health Solutions’ report ‘Telecare and telehealth- a game changer for health and social care’ focussed on the costs and benefits of scaling up the adoption of traditional telecommunication technology. Given that the adoption of mobile technology in healthcare was still in its infancy we proposed returning to the use of mobile technology at a later date.
Pharmaceutical companies face a very real and immediate challenge to achieve sustainable Research and Development (R&D) models and produce affordable treatments. The rising cost of drug development, highlighted in Deloitte’s return on pharmaceutical innovation research, is a key part of this challenge which could be addressed through transforming the way clinical trials are conducted.
First we had the internet, connecting people to information through emails and websites; then the development of social media and networks, connecting people to each other and encouraging us to reveal more about ourselves than we might previously have considered advisable.