2014 Predictions

THE CLOUD WILL SAVE THOUSANDS IN PATIENT TRAVEL EXPENSES

Unnecessary Time/Money Commitments

89% would travel for an appointment with a medical expert, according to a Grand Rounds survey

The average round trip ticket costs nearly $400 and that does not include hotel or car rental fees – all unnecessary expenses

Virtual Clinics

Allows you to share medical records virtually

Easier access to expert opinions regardless of geographic location

Electronic Health Records (EHRs)

THE YEAR OF ACCESS

Collaboration will be made easier(physicians, pharmacists, patients, etc.)

Babies are more likely to attend all recommended wellness visits when parents viewed records online (Kaiser Permanente Center for Health Research-Hawaii Study)

Informed healthcare is improved healthcare

People will be able to access, manage and share medical records

A “DR. HOUSE” IN EVERY HOSPITAL – THE RISE OF THE FIVE-STAR PHYSICIAN

“Dr. House” Comes to Life

• Hospitals are given incentives to ensure best possible care with ACA rulings/five-star grading system

• Hospitals will be more selective about staffing

• World Health Organization says: the top physicians will emerge within their organizations/will excel in the following traits: care provider, decision-maker, communicator, community leader, and manager

2014 WILL BE THE YEAR OF LITTLE DATA: THE BACKBONE OF “PRECISION MEDICINE”

Diagnosing and treating illness based on individuals’ genetic make-up (molecular make-up to diagnosed illness)

Results in more efficient diagnosis and treatment strategy

Early- stage Implementation:

Precision Medicine Movement: Little Data Stomps Big Data

Penn (Dr. Gary Gilliland-Vice Dean and VP for Precision Medicine)UCSF/Harvard (precision medicine summits)Baylor (precision medicine services)

BACKLASH OF THE ONLINE INSTANT DIAGNOSIS: PATIENTS WILL REALIZE “DR. RIGHT NOW” IS NOT “DR. RIGHT”

Kicking “Dr. Right Now” to the curb

• Instant Diagnosis: Convenience has temporarily overpowered common sense, despite disclaimersMore than one-third of adults diagnose

themselves on the Internet

• Patients will begin to realize an instant diagnosis from an app or the Internet can bring more pain than empowerment

• 2014 will be the year consumers begin to realize “Dr. Right Now” is not always “Dr. Right”

THE PPO CONTINUES ITS SLOW DECLINE

People are more knowledgeable/empowered about owning their healthcare. As a result the industry will have to adjust accordingly

High deductibles/narrow networks associated with PPOs will no longer be tolerated

• Will result in a shift away from PPOs

• Private exchanges will offer consumers more affordable healthcare options

• Grand Rounds provides an alternative voice

Owning Your Healthcare

OBAMACARE 2.0: THE MOVE TO PRIVATE EXCHANGES

Gov’t will drop public insurance exchanges for private exchanges• 20-30% of the marketplace will gravitate to a

private exchange over the next 3-5 years without any bias by size of employer (Oliver Wyman, consulting firm)

• 50% of all employers would switch to private health insurance exchanges for the benefits of 10% savings (Oliver Wyman, consulting firm).

• 20% would move employees to exchanges even if there were zero savings (Oliver Wyman)

• There will also be successful private exchanges with comprehensive services such as AON-Hewitt, GetInsured.comg firm)

HEALTHCARE APP MARKETPLACE – EVERY BUSINESS WILL NEED ONE

Smartphone and tablet sales are continuing to explode

Consumerization of IT

The Rise of the Healthcare App Marketplace

• Gartner predicts by the end of 2013: 184 million tablets sold; 1.8 billion smartphones sold

• User-friendly experience across all departments (including healthcare and benefits)

• Employers will begin thinking more about consumer-friendly mobile services and recognize the benefits of healthcare-specific apps and app marketplaces

• Resulting in: employees downloading apps to manage diseases (e.g.: Diabetes, Parkinson’s); able to access the right medical expert for their illness through online portal

grandroundshealth.com