More real time notes from the World Health Care Congress on Innovation - an internet-less innovation conference - which sort of sums up the state of innovation in health care - very insular.
William Boyles - Director, Global Business Forum on Health
The more news comes in the more people value the filters and screening. They want trusted screeners.
In 2010 Employer Cost Trend is projected to fall. from 7% in 2009 to 6.5%
"Reform is dead and decentralizing" Next round is in 2014. Now is the high water mark for federal legislation.
The clock is ticking down on private health insurance in the USA.
What happens next?
Action moves to the state level and the emergence of state exchanges.
We will see the merger of 3rd generation CDH with wellness.
Consumer Health Savings update in 2010:
HSA - 11.4M+ lives in 2010. Projected to Grow to 23M in 2015
HRA 8.5M lives and tied to incentives. (difficult to measure and under reported)
Consumers alone can slow health spending
- CDH and HDHPs will rule
- Value based designs and CDH will be more integrated
Government alone can increase Access
- Small Group / Individuals need lower-priced products
- Local markets are much stronger backers of CDH
Times have changed in Technology and Medicine.
"HealthCare is not like IBM selling mainframes to companies"
[Editor] Really - Aren't individual plans the equivalent of the PC....?
Who wil prosper?
- Internet cloud-based solutions
- All levels of government are potential customers (not just medicare)
- Direct to Consumer will be provider-linked
- Finding demand is easier than creating demand
Predictions for the next five years
- HIT adoption will redefine all products
- Cost pressures will drive innovation budgets
- Products which save consumers money will excel
- Products increasing physician interaction
CDH Consumer Directed Health Plan
HDHP High Deductible Health Plan
FSA Flexible Spending Plan
HRA Health Retirement Account
HSA Health Savings Account