Showing posts with label medical supplies. Show all posts
Showing posts with label medical supplies. Show all posts

December 29, 2022

Healthcare Market Opportunities

The global healthcare market is growing at an unprecedented rate. Over the past decade, advances in technology and medical treatments have revolutionized the industry, allowing for the development of new treatments, therapies, and technologies. As a result, the global healthcare market is expected to grow to a staggering $4.95 trillion by 2026.

Growth Factors

This growth can be attributed to several factors, including increased access to healthcare services in emerging markets and an increasing focus on preventive care. In addition, advancements in digital health technology are also contributing to this growth, as they make it easier for providers to monitor patient data remotely and quickly respond to changes in their conditions or develop treatments that are tailored specifically to them.

Future Expansion

These developments will likely lead to further market expansion in the coming years. To capitalize on this opportunity, stakeholders must ensure that they are actively participating in innovation and leveraging existing trends such as artificial intelligence (AI) integration and big data analytics. As the U.S. population ages, needing more healthcare services, strong market opportunities are emerging for innovative companies, from creating "find a medical service" apps, to caregiver management and inter-organizational information exchange.

Leveraging Opportunities

Of course, companies need to continue investing in research and development efforts related to precision medicine, predictive diagnostics and personalized therapies that can provide better outcomes for patients while simultaneously driving industry growth. But at the same time, consumer-facing technologies, such as patient portals and "find a provider" services need to acquire and deploy accurate healthcare provider information, covering many tens of millions of rows of provider data that is updated constantly.


Companies that sell advanced products to hospitals, physician offices, clinics and other businesses also need provider information to infuse their campaigns with contact information and business intelligence. The U.S. healthcare industry is aggressively competitive, and business intelligence is jealously guarded. The job of finding the information is challenging, and companies like CarePrecise are dedicated to just that task.

Conclusion

To be successful, it is essential to have a comprehensive understanding of the market dynamics and leverage existing trends such as AI integration and big data analytics. Equally important is having accurate healthcare provider information - which can be effectively provided by companies like CarePrecise. Using these resources, businesses will be able to reach out to healthcare decision makers with their messages.


By engaging with these strategies now, stakeholders will be able to take full advantage of the rapidly expanding healthcare market – which is set to become one of the most lucrative industries of our time.

April 24, 2012

Hurry Up, Sunshine


Senators Chuck Grassly (R-IA) and Herb Kohl (D-WI), authors of the Physician Payments Sunshine Act, are pushing for CMS to get its final implementation rule out the door. Once the rule is published, the process of collecting data on financial transactions between doctors and industry vendors can start. Six months after CMS missed the October 1, 2011 statutory deadline, the senators expressed their displeasure with the agency's slow movement.

After missing the implementation date, CMS again missed a March 31, 2012 start date for the 1,150+ drug, device, biologics and medical supplies manufacturers to report all "transfers of value" given to physicians and teaching hospitals.

The Sunshine Act, as it is nicknamed, is designed to bring transparency to physician interactions with revenue sources that may unduly influence decisions regarding patient care. While such sources as manufacturers' payments for research are vital to healthcare technology development, patients should know when (and what for) large sums of money are attached to their doctors' treatment decisions.

Proposed implementation, published December 19, is available online.