The first Forum on Healthcare Innovation, revealed the need for greater efficiency in healthcare R&D efforts. There was particular interest in payer-guided investments. In this approach, payers and providers would identify specific problems that, if solved, would improve care and reduce costs.
Such problem statements would provide greater clarity and direction to investors and technology innovators leading R&D efforts. Though there would be no guarantee of reimbursement for such innovations, there should be a much higher likelihood of reimbursement for innovations requested by the healthcare system. Targeted or directed innovation driven by the analysis of patient population data should enhance the efficiency of the R&D process.
In the past, innovators originated ideas, investors capitalized them, the healthcare system tested them and insurers eventually passed judgment on whether innovations would be reimbursable and thus adopted by providers. Today, healthcare providers and payers can define needed innovations, and innovators and investors can collaborate to deliver those innovations. This model offers great advantages in cost and effectiveness.
The second Forum on Healthcare Innovation, held in the fall of 2015, was the first step toward payer-guided innovation in the healthcare system. Leading health insurers identified the most pressing problems in healthcare today, and the Forum brought together the scientists and entrepreneurs who are addressing these problems. The issues under consideration included:
— Care and treatment for chronic disease — Personalized and precision medicine
— Treatment of behavioral health issues — IT connectivity and interoperability
Click here to review the Challenges and Opportunities in detail.
The second Forum was a platform for exchanging ideas and fostering collaborations. Payers and providers will identified obstacles, bottlenecks and cost drivers. Researchers and innovators revealed the power of genomics, IT, chemistry, biologics and devices. Investors and entrepreneurs l presented new business models to augment effectiveness and efficiency. It was a first step toward a new and more effective innovation cycle.
The 2016 Forum on Healthcare Innovation, held October 26-27, 2016 examined the parameters that determine the success or failure of innovations in healthcare. Medical executives from private insurance carriers illuminated the procedures and metrics that drive reimbursement and coverage decisions. And once again, some of the nation’s most gifted scientists and entrepreneurs described the innovations that are shaping the future of healthcare.
The 2017 Forum will focus on the rapidly-changing healthcare industry and the effects of structural changes on the system. What is the climate for innovation in 2017 and beyond?