Maria Shepherd, Medi-Vantage05.23.16
It is no secret that most of us in the medtech industry are working faster and smarter with less. In the ecosystem of healthcare change, how can medical device companies discover new innovations that disruptively transform the way healthcare is provided (and shift market share to our own revenue lines) because we are providing the highest value possible? And how do we then keep raising the bar to stay one step ahead of the competition?
Why This is Important
In a survey conducted by Global Healthcare Exchange,1 healthcare providers and medtech suppliers were interviewed to explore their vision for new ways to cut waste, reduce costs, and improve patient care. Key trends were identified that demonstrate the strategic role the medtech supply chain can play in delivering value and insight to all areas of the healthcare organization.
Trends Changing the Healthcare Industry
In a prior article, “An Update on Medtech Risk-Sharing, Services and the Volume-to-Value Paradigm Shift” that appeared previously in Orthopedic Design & Technology, a survey of hospital administrators and C-suite executives (n=85) found that hospital executives intended to continue cost reduction efforts. However, their definition of cost reduction is changing. Cost reduction is no longer solely defined as wrangling discounts from healthcare suppliers. The cost reduction paradigm has broadened and now includes minimizing Centers for Medicare and Medicaid Services (CMS) penalties by improving patient outcomes. This is a good change for those of us in the medtech industry that are prepared for this opportunity.
According to the Global Healthcare Exchange survey, one way the medtech industry will improve the patient experience in the future will be to supply big data. At the MassMEDIC 20th annual meeting in Boston, Mass., held April 13, Deborah DiSanzo, general manager and head of IBM Watson Health, presented a compelling picture of what big data can do for our over-worked and data-exhausted physician population. Watson Health compiles and aggregates clinical studies and other healthcare data resources to create a single source of information that streamlines physician decision-making. Think Siri, but much smarter.
Just in the nick of time, a McKinsey report2 was issued stating that, since 2010, more than 200 new players in the healthcare market have developed healthcare apps (how else will we manage all this big data?). Most interesting was the observation that approximately 40 percent of these apps are in development for predictive direct health interventions.3
It is estimated that the total number of apps designed for the orthopedic community is between 250–300.4 These apps5 cover multiple categories such as clinical evaluation and treatment, physician and patient education, and surgical training.
There are many interesting apps focused on goniometric tools for angular measurement. There have been multiple peer-reviewed articles that discuss the accurate use of mobile phones for joint orientation, angles, and motion. The studies validate that smartphone accelerometers and gyroscopes are precise, and that the apps built upon these functions will accurately provide angular dimensions as long as the mobile phone can be reliably attached to the anatomical area being measured. Sounds like a good smartphone accessory device!
mHealth Apps Are a Great Improvement—But Buyer Beware
The use of mobile technology is of great interest to healthcare providers as a way to meet requirements for meaningful use and CMS reimbursement requirements. However, according to a Healthcare Information and Management Systems Society (HIMSS) survey,6 while healthcare organizations are striving to effectively engage patients using existing mobile devices, not all apps are performing as promised. In the study, 73 percent of app-enabled portals provide patient engagement with respondents, but only 36 percent of respondents ranked this engagement as “highly effective.”
In addition, only 2 percent of current mHealth solutions achieve the Institute for Healthcare Improvement’s Triple Aim of improving the patient experience, improving population health, and reducing costs. Only 23 percent of these apps have peer-reviewed evidence for their claims.
How to Choose an App for Your Medical Device
In an article in Healthcare IT News,7 the following guidelines were provided to help direct effective technology selections. mHealth technology should:
References
Maria Shepherd has more than 20 years of leadership experience in medical device/life-science marketing in small startups and top-tier companies. After her industry career, including her role as vice president of marketing for Oridion Medical, where she boosted the company valuation prior to its acquisition by Covidien/Medtronic, director of marketing for Philips Medical and senior management roles at Boston Scientific Corp., she founded Data Decision Group, now re-branded as Medi-Vantage. Medi-Vantage provides marketing and business strategy and innovation research for the medical device industry. The firm quantitatively and qualitatively sizes and segments opportunities, evaluates new technologies, provides marketing services and assesses prospective acquisitions. Shepherd has taught marketing and product development courses, and is a member of the Aligo Medtech Investment Committee (www.msbiv.com). She can be reached at 855-343-3100 ext. 102 or at mshepherd@medi-vantage. Visit the Medi-Vantage website at www.medi-vantage.com.
Why This is Important
In a survey conducted by Global Healthcare Exchange,1 healthcare providers and medtech suppliers were interviewed to explore their vision for new ways to cut waste, reduce costs, and improve patient care. Key trends were identified that demonstrate the strategic role the medtech supply chain can play in delivering value and insight to all areas of the healthcare organization.
Trends Changing the Healthcare Industry
In a prior article, “An Update on Medtech Risk-Sharing, Services and the Volume-to-Value Paradigm Shift” that appeared previously in Orthopedic Design & Technology, a survey of hospital administrators and C-suite executives (n=85) found that hospital executives intended to continue cost reduction efforts. However, their definition of cost reduction is changing. Cost reduction is no longer solely defined as wrangling discounts from healthcare suppliers. The cost reduction paradigm has broadened and now includes minimizing Centers for Medicare and Medicaid Services (CMS) penalties by improving patient outcomes. This is a good change for those of us in the medtech industry that are prepared for this opportunity.
According to the Global Healthcare Exchange survey, one way the medtech industry will improve the patient experience in the future will be to supply big data. At the MassMEDIC 20th annual meeting in Boston, Mass., held April 13, Deborah DiSanzo, general manager and head of IBM Watson Health, presented a compelling picture of what big data can do for our over-worked and data-exhausted physician population. Watson Health compiles and aggregates clinical studies and other healthcare data resources to create a single source of information that streamlines physician decision-making. Think Siri, but much smarter.
Just in the nick of time, a McKinsey report2 was issued stating that, since 2010, more than 200 new players in the healthcare market have developed healthcare apps (how else will we manage all this big data?). Most interesting was the observation that approximately 40 percent of these apps are in development for predictive direct health interventions.3
It is estimated that the total number of apps designed for the orthopedic community is between 250–300.4 These apps5 cover multiple categories such as clinical evaluation and treatment, physician and patient education, and surgical training.
There are many interesting apps focused on goniometric tools for angular measurement. There have been multiple peer-reviewed articles that discuss the accurate use of mobile phones for joint orientation, angles, and motion. The studies validate that smartphone accelerometers and gyroscopes are precise, and that the apps built upon these functions will accurately provide angular dimensions as long as the mobile phone can be reliably attached to the anatomical area being measured. Sounds like a good smartphone accessory device!
mHealth Apps Are a Great Improvement—But Buyer Beware
The use of mobile technology is of great interest to healthcare providers as a way to meet requirements for meaningful use and CMS reimbursement requirements. However, according to a Healthcare Information and Management Systems Society (HIMSS) survey,6 while healthcare organizations are striving to effectively engage patients using existing mobile devices, not all apps are performing as promised. In the study, 73 percent of app-enabled portals provide patient engagement with respondents, but only 36 percent of respondents ranked this engagement as “highly effective.”
In addition, only 2 percent of current mHealth solutions achieve the Institute for Healthcare Improvement’s Triple Aim of improving the patient experience, improving population health, and reducing costs. Only 23 percent of these apps have peer-reviewed evidence for their claims.
How to Choose an App for Your Medical Device
In an article in Healthcare IT News,7 the following guidelines were provided to help direct effective technology selections. mHealth technology should:
- Be evidence-based;
- Validate quality improvement claims within six months of deployment;
- Produce positive outcomes for reimbursement;
- Identify risk factors for patients;
- Improve workforce quality and satisfaction;
- Be platform agnostic;
- Adhere to interoperability standards;
- Sustain long-term supports and services; and
- Provide technical assistance for baseline capacity.
References
- http://www.ghx.com/newsroomevents/news-releases/2015/eight-key-trends-of-the-future-healthcare-supply-chain/
- http://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-big-data-revolution-in-us-health-care
- Ibid.
- https://www.dovepress.com/mobile-apps-for-orthopedic-surgeons-how-useful-are-they-peer-reviewed-fulltext-article-ORR
- Ibid.
- 2015 HIMSS Mobile Technology Survey
- http://www.healthcareitnews.com/news/mobile-apps-helping-reduce-readmissions
Maria Shepherd has more than 20 years of leadership experience in medical device/life-science marketing in small startups and top-tier companies. After her industry career, including her role as vice president of marketing for Oridion Medical, where she boosted the company valuation prior to its acquisition by Covidien/Medtronic, director of marketing for Philips Medical and senior management roles at Boston Scientific Corp., she founded Data Decision Group, now re-branded as Medi-Vantage. Medi-Vantage provides marketing and business strategy and innovation research for the medical device industry. The firm quantitatively and qualitatively sizes and segments opportunities, evaluates new technologies, provides marketing services and assesses prospective acquisitions. Shepherd has taught marketing and product development courses, and is a member of the Aligo Medtech Investment Committee (www.msbiv.com). She can be reached at 855-343-3100 ext. 102 or at mshepherd@medi-vantage. Visit the Medi-Vantage website at www.medi-vantage.com.
