• 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.

• 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.

• 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

Deloitte’s view

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.

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.

Explore the predictions