Parks Associates analysts discuss the digital health market from both a business and a consumer perspective. The presentation sets the stage for the conference by highlighting areas of connected health that have gained traction while also calling out the many barriers to industry growth. Parks Associates’ survey data show consumers are starting to use digital tools in healthcare—26% of U.S. broadband households use a website for appointments, lab results, and prescriptions, and 25% use health apps. This presentation reveals current consumer activities and their demands, interests, and concerns related to connected health products and services.
Parks Associates estimates device manufacturers will sell more than 45 million personal health and wellness products in 2014 and 22% will be network connected. This panel examines innovations in connected devices and new wearable technologies and their role in enabling healthy living. Speakers also address the integration of healthcare applications and services with these devices and the role of health insurers and care providers in driving consumer adoption.
As the healthcare industry shifts to preventive care, traditional disease management companies are expanding their service scope and embracing technology to meet their clients’ interests. Population health management emphasizes the continuum of preventive care as consumers transition from one life stage to another, with solutions such as virtual care and digital coaching employed to reduce costs while improving care engagement and communication. Near the end of 2013, over 25% of U.S. consumers had used some type of online healthcare communications. This panel examines the best practices of population health management in the digital age and how technology can reshape consumers’ experience with population health management services.
As the financial model for healthcare shifts to paying for performance/value, the Accountable Care Organization (ACO) will secure a larger role as the provider type to deliver value-based care. ACOs are built on a collaborative care approach, and investment in technology will facilitate better patient-doctor communications and transform consumer care experience. Parks Associates estimates PCMH- or ACO-recognized practices will manage nearly 40 million U.S. patients by 2015, doubling the number from 2014. This panel looks at the challenges and opportunities that ACOs face in delivering patient-centered care and the best practices to proactively engage patients.
The population in the U.S. and many other developed markets is aging rapidly, with the care burden on the family increasing. Over 21 million U.S. broadband households currently either care for a family member with a chronic health condition or anticipate doing so in the near future. Technologies and care services designed to help older consumers live safely and independently in their homes, maintain a healthy lifestyle, manage chronic health conditions, and improve the overall quality of life will find a huge potential market, but current approaches have yet to crack open this market. In the U.S., the total number of independent living service subscribers will exceed 2.5 million in 2014, still a relatively low adoption compared to the much bigger addressable market. This panel discusses current challenges and highlights specific technologies, services, and strategies to better serve this market.
Nearly 60% of U.S. broadband households own some kind of personal health and wellness device, such as a digital weight scale or glucometer, and new designs and form factors, such as smart watches, have generated considerable consumer interest.However, the demand for these devices will be unsustainable if the technology fails to engage consumers or influence their behaviors, which would undermine their financial or healthcare incentives. This panel probes the design and use cases that drive consumer usage and how device manufacturers can leverage partnerships to bring consistent health benefits to consumers.
Parks Associates analysts explore the impact of the Affordable Care Act and other recent health reforms on the connected health products and services market. They also share primary survey data to illustrate strategies and techniques for engaging different consumers, looking beyond demographics to uncover key factors that explain how various consumer segments discover, adopt, and use connected health services differently.
Consumers are gaining increasingly active roles in their healthcare services. Spending is shifting from employers to employees, and personal technologies give consumers the ability to make informed decisions about their healthcare. However, uptake has been slow thus far. For example, nearly 75% of U.S. broadband households have not used online virtual care communications, while consumer usage of digital tools is infrequent. This panel examines the key trends reshaping the consumer health markets and highlights major opportunities in which a consumer-centric approach has yielded early fruition.
Walgreens has shown the industry how alignment of incentives can accelerate and sustain consumer health adoption of behavioral change programs. Come listen to the best practices Walgreens has developed and learn how your organization can "Connect with Walgreens" to accelerate your own initiative.
Parks Associates research finds over 50% of U.S. broadband households report having at least one chronic condition, predominantly obesity or high cholesterol. Digitization and connectivity in the healthcare industry bring fundamental changes to care practices for these conditions. Patients have multiple digital means to access health information, self-evaluate, and communicate with care providers. Care providers have far more convenient options to engage patients and can better understand consumer needs and motivations through big data analytics. This panel examines the roles of apps and big data for both end users and businesses and sheds light on future growth opportunities.
Consumer-centric healthcare represents a radical change in the way the U.S. healthcare industry operates. For many health industry players, consumer choice, pricing transparency, and patient feedback have been irrelevant to business operations—until now. Parks Associates research shows providers, if they are to succeed in this new space, need to demonstrate to consumers that their solutions can be effective and, most importantly, save time and money. In this panel, speakers discuss the ways in which pricing transparency and patient reviews will change their business operations and strategies. They also examine strategies and opportunities for industry players to engage the new population of informed consumers.
Consumers at different life stages have different needs for care assistance and support. Digital tools and programs can be a life-changer for people with chronic conditions or those who desire to live healthy and independently. This panel examines approaches to design effective and engaging programs and services that cater to the diverse needs of self-care and healthy living and discusses strategies and business models for consumer adoption.
Parks Associates estimates U.S. revenues from connected health products will exceed $8 billion by 2018. This panel of leading investors in the consumer health industry discusses the state of the market and analyzes the future solutions they find the most intriguing and exciting.
4th–5th September 2014