Healthcare delivery has never been more important. With costs on the rise and the funding gap growing exponentially, it remains paramount that providers of healthcare do more with less while maintaining the quality of care offered to patients.
The evolving healthcare landscape has dictated a shift towards value added thinking and addressing the question of “at what point in time” and at “what additional cost” and to “whom” does investing in digitally enhanced technologies, is key. Based on Michael Porters definition, value can be defined as the trade-off between patient health outcomes achieved vs. cost of delivering those outcomes. One of the unique challenges of the medical device industry is the fact that the same innovation may create widely divergent value for each of the stakeholders involved in healthcare delivery chain.
Digitally enhanced technologies will drive system efficiencies and allow patients to receive the personalised care they so deserve. Digital health and care refer to tools and services that use information and communication technologies (ICTs) to improve prevention, diagnosis, treatment, monitoring and management of health and lifestyle. These digtally enabled technologies have the potential to innovate and improve access to care, quality of care, and to increase the overall efficiency of the health sector (European Commission, eHealth: Digital Health and Care)
Thus demonstrating the value of these digitally enhanced technologies to various decision makers, has never been more important to medical device manufacturers than now. These innovative solutions will help address changing market dynamics and maintain care delivery for those most in need. A comprehensive understanding of the patient population, the patient pathway and the data needed to support clinical and cost-effectiveness, is not a 'nice to have’' for market access, it is a must have!!
This paper explores the how digital health advancements are optimizing value-based healthcare solutions for the entire healthcare ecosystem and how this transformation is directly affecting all stakeholders in system today.