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Health Ecosystems Essay

2422 words - 10 pages



Today, the healthcare industry finds itself on the threshold of a new era in which key stakeholders, empowered by technology, are breaking down barriers and redefining what’s possible in medical care. Find out how IT is shaping this new healthcare ecosystem.

Never before has the healthcare industry offered so much hope amid so much uncertainty. In the last decade, we have seen the unlocking of the human genome, which has put personalized and predictive medicine within reach for the first time in history. Advances in biomedicine and pharmaceuticals are achieving unprecedented success against ...view middle of the document...

In the U.S., the convergence of medical advances, technology innovations, and policy shifts are rewriting the rules of a $2.5 trillion industry that makes up an astonishing 17.3% of the nation’s economy.1 When President Obama signed the Patient Protection and Affordable Care Act in March 2010, an entire industry was mobilized by the prospect of serving 32 million newly insured people. A year before, the Health Information Technology for Economic and Clinical Health (HITECH) Act-part of the 2009 economic stimulus program2 - poured billions of dollars into the development of electronic medical records (EMRs).

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In the U.S., the convergence of medical advances, technology innovations, and policy shifts are rewriting the rules of a $2.5 trillion industry that makes up an astonishing 17.3% of the nation’s economy. These new programs come with sticks as well as carrots, and the new era of healthcare will be marked by a ratcheting up of regulatory rules, mandates and penalties designed to cut fraud and waste and jumpstart new solutions such as health information exchanges. Similar government initiatives are reshaping the healthcare landscape of Europe, Asia and other developed economies around the world. What does this all mean for industry stakeholders? At a minimum, stakeholders will need to prepare for a world of escalating complexity and volatility. Navigating this new environment won’t be easy. It will call for flexible strategies that can evolve in step with the changing economic, technological, and regulatory landscape. It will call for smart investments in technology - ones that emphasize interoperability, scalability, and cost-effectiveness. And it will call for strategic partnerships to help stakeholders thrive in the new healthcare ecosystem.

Navigating this new environment won’t be easy. It will call for flexible strategies that can evolve in step with the changing economic, technological, and regulatory landscape.

Who are the stakeholders in the new ecosystem? At the highest level, we all are. Anyone who seeks medical care as a patient has a vested interest in the healthcare system. So the architecture of the new healthcare ecosystem begins with the patient—the first “P” in what we call the “6 Ps” of healthcare, as shown in the figure on the next page. The following key stakeholders populate the rest of the ecosystem: - doctors, nurses, therapists, hospitals, physician groups, clinics and other medical professionals and organizations that provide medical care to patients. ? Payers - health insurance companies that cover the cost of medical care, as well as businesses, organizations, and individuals who either directly pay for care, or pay for insurance coverage. ? Pharmaceutical companies - makers of drugs prescribed by

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