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Unlocking Medical Device Technology Opportunities in
Value-based Healthcare
Parimal Shah
February 19, 2016
Parimal Shah Medtronic Director New Product Development Carlsbad, CA https://linkedin.com/in/parimalshah Parimal’s career spans 20 years directing global teams to deliver market-leading device therapy solutions at GE Healthcare, Baxter and Medtronic focused on CT/PET imaging platforms, Infusion systems , Critical care Ventilators and Healthcare IT.
Healthcare Challenges
Reimbursement models shifting to Value
Reform and Data Are Creating New Opportunities in the US
Hospitals Highly Connected (HIMSS Stage 4+)
>55% 50 -70% Hospital Revenue from Value Based
Reimbursement by 202O
Available, Connected Data Value Based Reimbursement
Health Consumerism
88% Consumers confident in ability to take responsibility for health
Defining Value in Health?
VALUE COST
OUTCOMES
Simple equation, in practice involves complexity on several levels
Stakeholder Interpretations Vary
How to win in Value-Based Healthcare?
• Integrate health economics in to technology opportunity assessments
• New partnerships and Business models based on joint accountability
• ‘Adoption’ of entire disease area, rather than focusing on one single stage condition
• Consider Patient Outcomes at a much earlier stage
Key Ideas
1. Value Based Care is here and a top priority
2. Health systems are responding & implementing
3. Mixed early results & remaining challenges
Reason to believe broad implementation soon and will occur abruptly
Steps to Value-based Healthcare
What does it mean to Medical Technology companies? 1. Select specific diseases or medical condition 2. Define and measure outcomes for that disease 3. Determine today’s baseline costs 4. Create business models to add greater value 5. Use new data to continually improve
New approach to MedTech R&D • Reducing time in hospitals through
improved surgical outcomes and minimally invasive procedures • Low power electronics • Electronics miniaturization • Battery energy density
• Improving and expediting diagnosis and negating need for biopsy • OCT, Ultrasound for Vascular
disease • CT-MRI for virtual colonoscopies
• Enabling remote patient monitoring, improving compliance • Glucose monitoring, asthma
inhalers • Clinical decision support systems
Legacy Organizations will have to Transform
Future Technology Ecosystem “open the aperture” (see the elephant!) and then
simplify and focus.
Looking beyond 2016
Virtual Helpers: Siri meets Dr. Watson
Patient Engagement: Self care Medication Adherence: Sensor technology
Voice recognition & AI: mHealth apps Predictive Analytics: for all
Disease detection: on smartphones
The Heilmeier Catechism
• What are you trying to do? (no jargon!)
• How does this get done today?
• What is new about your approach?
• If you succeed, what difference do you think it will make?
• How long do you think it will take?
• Can your work transition to others?
• How much will it cost?
Legacy Organizations will have to Transform
