MedTech and the IoMT are crucial drivers of value-based care has been saved
MedTech and the IoMT are crucial drivers of value-based care
Predicting the future of healthcare and life sciences in 2025
Prediction for 2025. MedTech companies drive the future of health, focusing on transformative technology to enhance products/services and enable 4P medicine. They also use sophisticated data analytics capabilities and work closely with end users to leverage new cognitive/robotic technologies to improve outcomes. MedTech companies partner with consumer focused tech companies to benefit from their experience of brand development, customer engagement and advanced analytics. Many have also become ‘Software as a Service’ providers, targeting preventative care at specific patient groups. Companion diagnostics have become a crucial tool for personalising patient therapy with MedTech playing a major role in driving value-based health care.
The world in 2025
- MedTech companies have entered into long-term Value Based Health Care (VBHC) arrangements. These arrangements differentiate products that offer protection from price erosion, create stickier relationships with customers, and increase market share and revenue by being a preferred product.
- Generate and publish peer reviewed evidence on efficacy of outcomes. Most companies have robust strategies for generating evidence to meet health technology assessment and provider requirements on cost-effectiveness.
- Deeper insight into the clinical context. As a result of this, MedTech companies better understand the clinical context in which their devices are used, and create VBHC solutions to deliver preventative wellness solutions.
Conquered constraints in 2025
- Skills and talent. MedTech companies recruit talent with advanced digital, cognitive and analytical skills, and have partnered with academia/tech companies/innovative start-ups to access data scientists and bioengineers.
- Funding. New payment models use innovative contracting and value-based arrangements (e.g. risk sharing), while payment pathways encourage the use of VBHC payments at scale. Flexible funding models (e.g. ‘per-patient per-use’) remunerate RPM, digital therapeutics etc.
- Regulations. Regulatory teams use ‘Regulation by design’ across the MedTech value chain. Companies have robust compliance systems enabling them to respond to regulatory changes. They publish RWE on outcomes to meet safety and efficacy requirements and speed up approval for innovative medical devices.
- Data and interoperability. MedTech has adopted FAIR data principles and protocols for the exchange and use of data, alongside a governance framework and eConsent system. Manufacturers adopt ‘Security by design’ (key data encryption and authentication mechanisms), working with providers to manage AI-ethics, data privacy and cyber security challenges.
A snapshot of a patient in 2025: How recent technology developments streamline stroke care and dramatically improve outcomes
Mike is at high risk of having a stroke, so he and his wife attended an online support session on recognising a stroke. Some days later, his wife noticed he was slurring his speech and one side of his face had sagged. She immediately called 999 and a specialised stroke ambulance (fitted with 5G-enabled video communication, monitoring and consultation technology) was dispatched.
Once Mike was on board, paramedic Alex confirmed the likelihood of a stroke using a new smart camera ML-algorithm. Using the ambulance’s video, Alex shared the results and a mobile CT scan with a stroke consultant who confirmed an Ischemic stroke. Under supervision, Alex administered a clot-busting intravenous thrombolytic drug.
A cerebral angiogram at the hospital confirmed no further clots and Mike was discharged 2 days later with a set of RPM tools to support his rehabilitation.
Evidence in 2020
- Digital therapeutics for the treatment of substance abuse in the US. Pear Therapeutics’ reSET® treats Substance Use Disorder (SUD) and was the first prescription digital therapeutic (PDT) to receive FDA marketing authorisation to treat SUD. Its reSET-O® treats Opioid Use Disorder and was the first PDT to receive Breakthrough Designation. Pear’s third product, Somryst™, for the treatment of chronic insomnia, was the first PDT submitted through FDA’s traditional 510(k) pathway while simultaneously reviewed through FDA’s Software Precertification Pilot Program. Its products collect RWE, have been tested in RCTs with results published in peer-reviewed journals. The products, are adjuncts to outpatient counselling, providing patients with algorithm-driven CBT, fluency training, and contingency management. Clinicians receive access to clinical dashboards to inform in-office and tele visits.
- Evidence of new payment models in MedTech. Medtronic-Tyrx reimburse hospitals for certain costs if its antibacterial sleeve fails to prevent infection in cardiac-implant patients. Meanwhile, Bruin biometrics has developed a hand-held wireless scanner that detects pressure ulcers (bed sores) and helps caregivers or providers prevent the formation of pressure ulcers. The company has been developing a variety of risk sharing agreements with providers in the UK which may involve payment tied to early detection and prevention of ulcers
How COVID-19 has accelerated this prediction
The pandemic has accelerated peoples use of MedTech devices to record their behaviour, get an online diagnosis, and manage their health more efficiently (all while at home).
Virtual consultation technologies have been scaled dramatically to help HCPs diagnose, monitor and care for patients remotely (and reduce the risk of infection). Wearable tech, for example, provides patients, carers and HCPs with invaluable real-time data about a patient’s activity and vital signs.
The IoMT has also played a crucial role in ‘test, track and trace’ by creating a virtual perimeter using GPS, RFID, Wi-Fi, Bluetooth and cellular network. AI-enabled MRI, CT scanners and IVD tests have also increased the accuracy/speed of diagnoses.
Critical care patient monitoring
To help support the care of COVID-19 patients, Philips has an array of solutions, including secure, connected and intelligent approaches to diagnosis, treatment and predictive monitoring in hospitals, plus screening, RPM and care at home. In June 2020, Philips received Emergency Use Authorisation (EUA) from the FDA for it’s IntelliVue Patient Monitors and Active Displays, for use during the COVID-19 health emergency. These solutions support infection-control protocols and provide critical patient information remotely when caring for hospitalised COVID-19 patients. Updated features, include enhancements to monitor and assess clinical and network device performance, and additional functionalities to strengthen cybersecurity.
The future unmasked
Predicting the future of healthcare and life sciences in 2025
What does the future hold for the life sciences and healthcare industry? Our latest predictions report looks ahead to the year 2025 to help you see what’s coming and to keep your organisation moving forward.