The Future of Healthcare: A View of 2018
Healthcare has long been in the throes of massive change, and the escalation point is fast approaching thanks to the progress and tumult of 2017. Putting politics aside, in the last year the industry has made tremendous advancements in technology, patient-care delivery, analytics and significant mergers/acquisitions. These moves have set us up for an even more pivotal year ahead, where we’ll begin to solve some of the toughest issues in healthcare, create new categories, and put patient empowerment at an all-time high.
Although I’m not a futurist, I fully expect 2018 to bring more exciting advancements in health and wellness. For brands and healthcare marketers, this means that 2018 is the year to: capitalize on unfolding events by being a thought leader on their implications and gain the trust of patients by providing needed education. With that in mind, here are the key trends to look out for in the year ahead:
Surge in mHealth and telehealth popularity
The exam room is no longer confined by walls thanks to mHealth technologies that evolve the patient experience. More patients receive exam results by text, consult patient portals on their phones and access treatment instructions through an app, which empowers them to manage better their health and wellness – anywhere and at any time.
In the same breath, telehealth is taking off successfully with patients. It has never been more convenient, seamless and helpful for patients to seek diagnosis and support from the comfort of their own homes.
More mergers and acquisitions
It is no surprise mergers and acquisitions will continue to reshape the health and wellness category, and dominate the headlines. However, the companies involved may take us by surprise, as they will occur across categories beyond hospitals. Case in point, Aetna’s acquisition of CVS last year. In fact, experts expect to see large tech giants such as Amazon and Google make more moves in healthcare. In October 2017, Modern Healthcare reported “consolidation among hospitals and health systems in 2017 will likely outpace 2016’s mark and continue at that same pace through next year.” The cost efficiencies and expanded resources achieved with M&As are important to delivering the care patients demand. It will be telling to see if this results in any cost savings to payers.
Disrupting technology
In 2018, the future of healthcare shines bright with companies dedicated to disease prevention, diagnosis, treatment and education through technological solutions. Just look at the announcements from the Consumer Electronics Show (CES) this month as well as HIMSS 2018 in March! From drones that deliver medicine to remote areas to life-size robot companions for seniors, these innovations show we have much to expect in the next year, let alone 10 years in the health space.
Continued opioid abuse
Unfortunately, the opioid health crisis will continue to dominate healthcare headlines in 2018. Deaths from opioids have risen sharply for years, and drug overdoses have already killed more Americans under the age of 50 than any other cause. Tackling this health crisis is complex and multi-pronged, and a turnaround isn’t expected for years. However, it is our greatest hope to see progress this year in addressing the root causes of the problem.
Patient engagement
Thanks to wearable technologies, mobile health apps, online support communities and telehealth consultations, patients have more personalized information at their fingertips than ever before. More impressive than the surging volume of wearables is the adoption rate at all ages. We fully expect more niche technologies to launch this year that will only continue to support specific health conditions as well as health self-management.
New treatments
As a Fortune headline noted, 2017 saw the most U.S. Food and Drug Administration drug approvals in 20 years, with 46 medicines receiving approval. While 2018 will likely not see the same volume of approvals per the current pipeline, the impact of these now-approved treatments will come to life with patients this year. Interestingly, many drugs up for approval this year focus on rare diseases and sub-types of cancer.
It's time to put on your seat belt, because the ride in 2018 is going to be fast, perhaps a bit bumpy, and on uncharted territory. And, the scenery just might amaze us: life-saving technologies, improved patient care, and results we never thought possible.
Virginia Anderson is a vice president in Allison+Partners’ healthcare practice.
