2019 will be a year of value-based care as we will see the ‘outcomes-based care’ focus to globalize. By triggering maturation of risk-sharing in solution contracting between providers and drug/device original equipment manufacturers (OEMs), this will drive business value for providers.For the upcoming 2019 elections in emerging markets such as Asia, Africa and, Central and Eastern European countries, access to affordable and quality care will be key political agendas. Top predictions for global healthcare 2019 are as follows:
Value-based Models will consume 15% of global healthcare spending
The healthcare industry will continue to transit to the value-based model during 2019. Up to 15% of global healthcare spending will be tied in some form with value/outcome-based care concepts by the end of 2019. Countries that currently spend nearly 10% or more of their GDP on healthcare [e.g., the United States, Netherlands, Sweden, France, Germany, Canada, and Japan among others] will face the maximum outcome of this shift. VBC initiative will continue to transition from economic model/cost-effectiveness measures to more health outcomes and treatment focus this year, and this will be achieved by means of data-driven risk sharing frameworks and sustainable reimbursement model that benefits both providers and payers.
AI for healthcare IT Application will cross $1.7 billion by 2019
Artificial Intelligence across clinical and non-clinical use cases will show hard results this year, further bolstering the growth of in healthcare space. AI for Healthcare IT application market is expected to cross $1.7 billion by the end of 2019. Furthermore, is it anticipated that operationalizing AI platforms across select healthcare workflows would result in 10–15% productivity gain over the next 2-3 year. The pricing for AI solutions, however, remains critical because the end-users are often not convinced to dedicate an additional budget for such IT capabilities. A cost-effective approach that shows clear evidence for potential ROI for both parties can surely help sustain the market growth. AI as well as machine learning will further evolve human and machine interaction throughput 2019. Particularly in the imaging diagnostic, drug discovery, and risk analytics applications, AI will begin to see fruition.
Keep watching this space for more.