The Cost of Treating Patients is On the Rise: PwC Goes What’s Behind the 2024 Medical Spending Numbers
Health care cost trend will spike up another percentage point to 7.0% in 2024, according to the annual report from the PwC Health Research Institute, Medical cost trend: Behind the numbers 2024. Every year, the PwC HRI team goes behind those numbers to assess cost inflators and deflators which underpin annual medical inflation. As the first line chart illustrates, the peak of medical trend in the last 18 years was in 2007 when the U.S. saw double-digit cost growth of nearly 12%. Here’s a link to PwC’s 2007 study looking behind the
Technologies That Bolster Health Will Be Baked Into the Fourth Industrial Revolution: Listening to the World Economic Forum
The technologies that will drive the Fourth Industrial Revolution have health baked into most of them, based on the Top 10 Emerging Technologies of 2023, a flagship report from the World Economic Forum, Two of the ten technologies making up this forecast directly speak to health and health care” AI-facilitated healthcare, and The metaverse for mental health. But seven of the remaining eight all address health somewhere in their discussions, and even the tenth non-obvious tech — #3, sustainable aviation fuel — would resonate with many researchers working on the opportunity
The Latest KFF Poll on Consumer Experiences with Health Insurance Speaks Volumes About Patients’ Administrative Burden
People love being health-insured, but their negative experiences with health plans create serious burdens on patients-as-consumers. And those burdens impact even more people who are unwell than healthier folks. The 2023 Kaiser Family Foundation Survey of Consumer Experiences with Health Insurance updates our understanding of and empathy for insured peoples’ Patient Administrative Burdens (PAB). For this study, KFF polled 3,605 U.S. adults 18 and over in February and March 2023 who had health insurance across different plan types. Over the past several years, I’ve come to appreciate the concept of PAB by listening to and learning from colleagues Dr, Grace
If you live in Massachusetts, Hawaii, and New Hampshire, you win a kind of state lottery for public health and well-being, based on this year’s read of the 2023 Scorecard on State Health System Performance from The Commonwealth Fund. Here’s a picture of the annual study’s top-line findings, a roster of the fifty U.S. states ranked by a mash-up of health system indicators. As Annie Burkey of FierceHealthcare succinctly summed it up, the “Commonwealth Fund gives healthcare in southeastern states failing grades across the board.” I’ll give you more details about the Top and Bottom
We often talk about “the last mile” as the difficulty in getting broadband to cover folks in rural areas or bringing a product to fruition for delivery in a market. Uber Health is trying to solve another riff on the “last mile” challenge, which is expanding delivery of groceries and over-the-counter medicines to people who may be cut-off from transportation options, compelled to stay home due to physical limitations, or otherwise simply demanding the convenience of home delivery for basic daily needs related to their health. The service will be enabled through Uber
The fast-growing adoption of telemedicine and remote patient monitoring from the emergence of the COVID-19 pandemic led to hospitals and health systems launching new or expanding existing virtual care programs to accommodate a new reality for work-flow and patient care. Now that the worst of the coronavirus acute impact is in our rear-view mirror, it appears medical care providers are reassessing these implementations and may “rip [out] and replace” those systems, according to The Great Shakeup, a survey report from Panda Health. Panda Health collaborated with Sage Growth Partners
In 2023, U.S. consumers’ purchases of technology in their households will contract this year. Consumer-facing health-tech categories won’t be spared, we learn in the 2023 U.S. Consumer Technology Ownership & Market Potential Study, an annual update from the Consumer Technology Association (CTA). On the upside, smartwatch market penetration held steady in 2023, as this favorite form of wearable technology is “providing consumers a personalized digital health and fitness dashboard at their fingertips.” Many of these new smartwatch purchases will be cellular-enabled, blurring the space between smartphones and watches. One in five households intends to purchase
In health care, one of the “gifts” inspired by the coronavirus pandemic was the industry’s fast-pivot and adoption of digital health tools — especially telehealth and more generally the so-called “digital front doors” enabling patients to access medical services and personal work-flows for their care. Two years later, Experian provides a look into The State of Patient Access: 2023. You may know the name Experian as one of the largest credit rating agencies for consumer finance in the U.S. You may not know that the company has a significant footprint
Consumers and Cancer: 3 Patient-Focused Charts From IQVIA on the State of the Oncology in 2023 – and Introducing CancerX
It’s time for the annual ASCO conference, currently convening the American Society for Clinical Oncology in Chicago. Starting 2nd June, there have been dozens of positive announcements updating research and therapies bringing hope to the 2 million new patients who will be diagnosed with cancer in the U.S. in 2023, and millions of more people worldwide. Just in time for #ASCO2023, the IQVIA Institute published their annual report on Global Oncology Trends 2023 – Outlook to 2027, an update featuring pipelines, therapy approvals, research updates, costs of oncology products, and patients.
Patagonia, Costco, John Deere, and Trader Joe’s are loved; Twitter, Fox Corp., FTX and The Trump Organization? Not so much. Welcome to 2023 Axios Harris Poll 100 list of companies U.S. consumers rate from excellent in terms of reputation to very poor and, one in particular, “critical.” Exploring the list, we can find insights into consumers’ preferred touchpoints for health, health care, and well-being curated in their daily lives. In this, today’s, Health Populi blog, I consider The 2023 Axios Harris Poll 100 reputation rankings in light of what we learned from the Morning Consult Most Trusted Brands 2023 study
What $31,065 Can Buy You: a Toyota Corolla Cross Hybrid, a Year at Gnomon School, or Healthcare for a Family of 4 in America
“Healthcare costs came roaring back in 2021” after falling in 2020. In 2023, that roaring growth in health care costs continues with expected growth of 5.6%. For 2023, you could take your $31K+ and buy a Toyota Corolla Cross Hybrid auto, fund a year at the Gnomon School in Hollywood toward a degree in animation or game design, or buy healthcare for your family of 4. Welcome to this year’s annual look at health care costs for a “typical” U.S. family explained in the 2023 Milliman Medical Index (MMI).