fiercehealthcare webinar jan. 16, 2019 - medspace innovations · industries. so for 2019’s top...
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Top health industry issues of 2019The New Health Economy comes of age
FierceHealthcare webinarJan. 16, 2019
Today’s presenters
Trine TsouderosDirector and Regulatory Center Leader
Health Research Institute
Sp
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Mo
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Gurpreet SinghUS Health Services
Leader
Kathy MichaelUS Health Industries
Tax Leader
Karen YoungUS Pharmaceutical and
Life Sciences Leader
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Sarah HaflettDirector and Research Leader
Health Research Institute
Rob FrizUS Health Services Tax
Leader
PwC
About this report
Each December, right before the holidays, HRI names the trends that will shape the US health industry in the coming year.
These issues are chosen because they will significantly impact insurers, healthcare providers, pharmaceutical and life sciences companies, new entrants, employers large and small, government entities and, of course, American consumers.
The report, HRI’s flagship, is developed from input from dozens of PwC partners and staff, interviews with healthcare executives and other industry experts and analysis of government and industry data. This year, Top health industry issues also included perspectives from firm platform experts and thought leadership.
The report also is informed by surveys conducted by HRI of consumers and executives from providers, payers and pharmaceutical and life sciences companies.
Top health industry issues of 2019: The New Health Economy comes of age
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PwC
US healthcare is finally showing signs of behaving like other industries
The US health industry is looking less like a special case and is beginning to behave like other industries. So for 2019’s top health industry issues report, HRI for the first time is featuring business issues common to all industries.
The details may be healthcare, but the business issues are shared with many other parts of the economy.
Top health industry issues of 2019: The New Health Economy comes of age
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PwC
Consumers are ready to embrace a new era of care delivery
Top health industry issues of 2019: The New Health Economy comes of age
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PwC
Top health industry issues of 2019: The New Health Economy comes of age
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Digital therapeutics/connected care reshape the life sciences industry
Your company’s new, upskilled worker of the future is you
Creating the Southwest Airlines of healthcare
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Private equity – acquirer, competitor, and partner
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The Affordable Care Act in 2019: Still alive
Top health industry issues of 2019: The New Health Economy comes of age
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Tax reform has only just begun for healthcare companies
Your company’s new, upskilled health worker of the future is you
Few workers say their employers offer training in AI, RPA, or data analytics
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• Many provider aren’t confident their workforces have the skills they need, yet pharma execs are
• Workers see jobs at risk, but are eager to learn
• Few healthcare companies are offering training in data and analytics, AI, and other emerging tech
Implications
• Modernize the HR strategy
• Consider how best to train your employees
• Consider which employees should get top priority
Creating the Southwest Airlines of healthcare
Average deductible for employer-sponsored plans over the past decade
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• Americans are shouldering higher deductibles and cost-sharing, and many say they cannot afford them
• The seeds of innovation when it comes to developing value lines can be found in organizations making money off of Medicaid and Medicare
• Consumers want healthcare organizations to consider social determinants of health
Implications
• Recognize your consumer segments that need value
• Consider partnerships to deliver lower-cost, high-quality care
• Go beyond the prescription coupon
Digital therapeutics and connected care reshape the life sciences industry
Consumers are interested in FDA-approved apps or online tools
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• The FDA already has approved some new digital therapies, with many others in the pipeline
• A majority of consumers (more than 50%) surveyed by HRI are interested in FDA approved digital apps or online tools to treat their medical conditions
• Physicians are talking to patients about these tools more and more often
Implications
• Focus on outcomes, not just endpoints
• Evaluate the impact of digital therapeutics and connected care solutions on your practice
• Explore partnership models focused on demonstrating results
Private equity: Healthcare’s new growth accelerator
Private equity activity in healthcare has steadily increased over the past decade
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• Private equity firms are approaching (and competing with) corporate entities more frequently
• Partnerships between private equity and healthcare buyers also are evolving beyond acquisitions
• HRI expects to see more co-investing in 2019
Implications
• Realize that the market is ripe for divestitures
• Partner with private equity to unlock possibilities for growth and scale
• Understand that private equity is accelerating change in the industry and eyeing disruptors
The Affordable Care Act in 2019: Still alive
Consumers in Medicaid expansion states were more likely to say the ACA helped them
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• The reduction of the individual mandate penalty to $0 on Jan. 1 (thanks to the Tax Cuts and Jobs Act of 2017) likely will have the most impact on the industry in 2019
• Further reform is being pushed onto state governments as they try to secure insurance markets
• HRI expects continued focus on drug pricing
Implications
• Care delivery must move beyond the office and to a broader team
• Attention to drug prices will increase despite a slowdown in rule-making for manufacturers
• Insurance regulations are falling to states, creating a patchwork
Tax reform has only just begun for healthcare companies
There are over 18k manufacturing facilities registered with the FDA
Implications applicable to all sectors of healthcare
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Key Findings & Implications
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Key findings
• Most of the tax changes will have a negative impact on payers and providers, while PLS companies will come out ahead
Implications
• Be prepared to act
• Use tax savings to position for success
• Figure out what operational changes the new tax law will require
PwC Health Research Institute
For more information
For more on the research:
Benjamin IsgurHealth Research Institute [email protected]
Sarah HaflettHealth Research InstituteResearch Leader [email protected]
Trine TsouderosHealth Research Institute Managing [email protected]
For more on the business issues raised in this report:
Kelly BarnesGlobal and US Health Industries Leader
Rob FrizUS Health Services Tax [email protected]
Jeff GitlinUS Health Industries Advisory [email protected]
Kathy MichaelUS Health Industries Tax [email protected]
Gurpreet SinghUS Health Services [email protected]
Tim WeldUS Health Industries Assurance [email protected]
Karen YoungUS Pharmaceutical and Life Sciences [email protected]
For more on marketing:
Hindy ShamanNational Health Industries Marketing [email protected]
Rob WilsonNational Health Services Marketing [email protected]
Lesley BakkerNational PLS Marketing [email protected]
Jamie MumfordNational Health Industries Marketing Senior [email protected]
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Thank you!
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To download the full report, please visit: www.pwc.com/us/tophealthissues
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