TOP HEALTH INDUSTRY ISSUES OF 2019 - THE NEW HEALTH ECONOMY COMES OF AGE - FIERCEHEALTHCARE WEBINAR JAN. 16, 2019 - MEDSPACE INNOVATIONS
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Top health industry issues of 2019 The New Health Economy comes of age FierceHealthcare webinar Jan. 16, 2019
Today’s presenters
Speakers
Rob Friz Kathy Michael Gurpreet Singh Karen Young
US Health Services Tax US Health Industries US Health Services US Pharmaceutical and
Leader Tax Leader Leader Life Sciences Leader
Moderators
Sarah Haflett Trine Tsouderos
Director and Research Leader Director and Regulatory Center Leader
Health Research Institute Health Research Institute
2
About this report Each December, right before the holidays, HRI names the trends that will shape the US health industry in the coming year. These issues are chosen because they will significantly impact insurers, healthcare providers, pharmaceutical and life sciences companies, new entrants, employers large and small, government entities and, of course, American consumers. The report, HRI’s flagship, is developed from input from dozens of PwC partners and staff, interviews with healthcare executives and other industry experts and analysis of government and industry data. This year, Top health industry issues also included perspectives from firm platform experts and thought leadership. The report also is informed by surveys conducted by HRI of consumers and executives from providers, payers and pharmaceutical and life sciences companies. Top health industry issues of 2019: The New Health Economy comes of age PwC 3
US healthcare is finally showing signs of behaving like other industries The US health industry is looking less like a special case and is beginning to behave like other industries. So for 2019’s top health industry issues report, HRI for the first time is featuring business issues common to all industries. The details may be healthcare, but the business issues are shared with many other parts of the economy. Top health industry issues of 2019: The New Health Economy comes of age PwC 4
Consumers are ready to embrace a new era of care delivery Top health industry issues of 2019: The New Health Economy comes of age PwC 5
Top health industry issues of 2019: The New Health Economy
comes of age
Your company’s new, upskilled worker of the
01 future is you
Creating the Southwest
Airlines of healthcare 02
Digital therapeutics/connected care
03 reshape the life sciences industry
Private equity – acquirer, competitor,
and partner
04
05 The Affordable Care
Act in 2019: Still alive
Tax reform has only just begun for healthcare
companies
06
Top health industry issues of 2019: The New Health Economy comes of age
PwC 6
Your company’s new, upskilled health worker of the future is you
Key Findings & Implications Few workers say their employers offer
training in AI, RPA, or data analytics
Key findings
• Many provider aren’t confident their workforces
have the skills they need, yet pharma execs are
• Workers see jobs at risk, but are eager to learn
• Few healthcare companies are offering training in
data and analytics, AI, and other emerging tech
Implications 03 Implications applicable to all sectors
of healthcare
• Modernize the HR strategy
• Consider how best to train your employees
• Consider which employees should get top priority
7
Creating the Southwest Airlines of healthcare
Key Findings & Implications Average deductible for employer-
sponsored plans over the past decade
Key findings
• Americans are shouldering higher deductibles
and cost-sharing, and many say they cannot
afford them
• The seeds of innovation when it comes to
developing value lines can be found in
organizations making money off of Medicaid and
Medicare
• Consumers want healthcare organizations to
consider social determinants of health
03 Implications applicable to all sectors
of healthcare
Implications
• Recognize your consumer segments that need
value
• Consider partnerships to deliver lower-cost, high-
quality care
• Go beyond the prescription coupon
8
Digital therapeutics and connected care reshape the life sciences
industry
Key Findings & Implications Consumers are interested in FDA-
approved apps or online tools
Key findings
• The FDA already has approved some new digital
therapies, with many others in the pipeline
• A majority of consumers (more than 50%)
surveyed by HRI are interested in FDA approved
digital apps or online tools to treat their medical
conditions
• Physicians are talking to patients about these tools
more and more often 03 Implications applicable to all sectors
of healthcare
Implications
• Focus on outcomes, not just endpoints
• Evaluate the impact of digital therapeutics and
connected care solutions on your practice
• Explore partnership models focused on
demonstrating results
9
Private equity: Healthcare’s new growth accelerator
Key Findings & Implications Private equity activity in healthcare has
steadily increased over the past decade
Key findings
• Private equity firms are approaching (and
competing with) corporate entities more frequently
• Partnerships between private equity and
healthcare buyers also are evolving beyond
acquisitions
• HRI expects to see more co-investing in 2019
Implications 03 Implications applicable to all sectors
of healthcare
• Realize that the market is ripe for divestitures
• Partner with private equity to unlock possibilities
for growth and scale
• Understand that private equity is accelerating
change in the industry and eyeing disruptors
10The Affordable Care Act in 2019: Still alive
Key Findings & Implications Consumers in Medicaid expansion
Key findings states were more likely to say the ACA
helped them
• The reduction of the individual mandate penalty to
$0 on Jan. 1 (thanks to the Tax Cuts and Jobs Act of
2017) likely will have the most impact on the
industry in 2019
• Further reform is being pushed onto state
governments as they try to secure insurance
markets
• HRI expects continued focus on drug pricing 03 Implications applicable to all sectors
of healthcare
Implications
• Care delivery must move beyond the office and to a
broader team
• Attention to drug prices will increase despite a
slowdown in rule-making for manufacturers
• Insurance regulations are falling to states, creating a
patchwork
11Tax reform has only just begun for healthcare companies
Key Findings & Implications There are over 18k manufacturing
facilities registered with the FDA
Key findings
• Most of the tax changes will have a negative
impact on payers and providers, while PLS
companies will come out ahead
Implications
• Be prepared to act
03 Implications applicable to all sectors
of healthcare
• Use tax savings to position for success
• Figure out what operational changes the new
tax law will require
12For more information For more on the business issues
raised in this report:
Kelly Barnes
For more on the research: For more on marketing:
Global and US Health Industries Leader
Benjamin Isgur Hindy Shaman
Rob Friz
Health Research Institute Leader National Health Industries Marketing Leader
US Health Services Tax Leader
benjamin.isgur@pwc.com hindy.shaman@pwc.com
rob.w.friz@pwc.com
Sarah Haflett Rob Wilson
Jeff Gitlin
Health Research Institute National Health Services Marketing Leader
US Health Industries Advisory Leader
Research Leader robert.wilson@pwc.com
jeffrey.gitlin@pwc.com
sarah.e.haflett@pwc.com
Lesley Bakker
Kathy Michael
Trine Tsouderos National PLS Marketing Leader
US Health Industries Tax Leader
Health Research Institute Managing lesley.bakker@pwc.com
kathleen.michael@pwc.com
Editor
trine.k.tsouderos@pwc.com Jamie Mumford
Gurpreet Singh
National Health Industries Marketing Senior
US Health Services Leader
Manager
gurpreet.singh@pwc.com
jamie.mumford@pwc.com
Tim Weld
US Health Industries Assurance Leader
timothy.r.weld@pwc.com
Karen Young
US Pharmaceutical and Life Sciences
Leader
karen.c.young@pwc.com
Top health industry issues of 2019: The New Health Economy comes of age
PwC Health Research Institute 17Thank you!
pwc.com/us/healthindustries
pwc.com/hri
To download the full report, please visit: www.pwc.com/us/tophealthissues
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