Healthcare innovation to watch for in 2014

To react to the arrangements of reform that require healthcare systems to decrease costs while improving quality of care, more healthcare service providers will embrace innovation and technology in 2014. Since innovative devices offer patients greater agency over their healthcare management and choices, suppliers that offer novel care alternatives will be more appealing to customers.

The theory and execution of innovation will help the healthcare service providers by providing the competitive edge needed to be effective and sustainable. Companies that resist or outsource innovation will be disrupted by those going to buy and pursue innovation. In sum, the onset of rapid innovation is here. The time to accept and lead it is now.

Among the rapid innovation that will surface throughout 2014, 4 significant trends will emerge.

Enhanced Usage of Sensor Technology

Sensors are a terrific way to aid evidence-based care decisions. Devices like Propeller Health (previously Asthmapolis), Sotera Wireless, and Proteus’s ingestible sensors will play a greater duty in exactly how care groups examine treatment strategies, patient progress, and exactly what treatments to advise in the future. By aggregating objective information, these tools help patients, caregivers, and clinicians customize more personalized treatment strategies.

More Reliance on Big Data

There will be a higher reliance on the use of big data and analytics to enhance health. From population health management to point-of-care service, advanced analytic services will dictate exactly how big-data sets are translated into interventions. Even companies that have actually been primarily focused on technology, like Box and Intel, are approaching the health sphere. Today, Box has 23 healthcare platform partners, many of which consist of companies exploring data-focused opportunities of enhancing care delivery.

Care delivery will change

Driven by the results of health exchanges and other care delivery trials, novel models of care will multiply. Already, innovation based on Accountable Care Organizations, Patient-Centered Medical Homes, and specialized care groups have yielded a number of novel care organizations. Organizations like Iora Health are focusing on main care services, offering care to more patients by eliminating insurance overhead. Gathering primary care physicians and a range of specialists under one roofing system, companies like ChenMed are delivering care to diverse populations as a concierge service.

More transparency

The degree of transparency demanded from healthcare systems and suppliers will enhance, yielding growth of innovative tools to help inform both patients and providers to assist them make cost-effective decisions. The recent IPO by Castlight highlights a belief that employers prepare to make real changes in advantage design, enhance employee health, and identify savings.

Health systems need to view the rapidly growing list of innovators and disruptors as opportunities for partnerships to supplement and advance their own efforts.

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