Frank Cunningham, Senior Vice President, Global Value and Access, Eli Lilly and Company, and Sam Marwaha, Chief Commercial Officer, Evidation
The pandemic has accelerated the adoption of telemedicine tools and features by patients, providers, and pharmaceutical companies, which can and will fundamentally change the patient experience and improve outcomes, enabling the next generation of value-based arrangements (VBA). Since March, the focus of healthcare delivery and management has been telemedicine, allowing patients to access healthcare providers through the nearest screen or phone. The increased use of telemedicine in the pandemic is the result of the efforts of providers, plan and technology companies to establish telemedicine capabilities, federal legislation and regulatory flexibility, and the help and encouragement of individuals willing to try this treatment approach.
This accelerated adoption of telemedicine demonstrates the opportunity to use telemedicine tools and methods that can facilitate patient participation outside the clinic, thereby improving patient prognosis. In a feasibility study conducted by Eli Lilly, Evidation, and Apple, personal devices and apps are used to determine whether they can distinguish between participants with mild cognitive impairment (MCI) and mild Alzheimer’s disease By. This research shows that connected devices can potentially be used to predict onset and remotely track disease progression, thereby providing the ability to send patients to the correct treatment as quickly as possible.
This study illustrates the extensive ability of using telemedicine to predict the patient’s disease progression faster and to participate in the patient earlier, thereby improving personal level experience and reducing population-level medical expenses. Taken together, it can gain value in VBA for all stakeholders.
Both Congress and the government encourage the transition to telemedicine (including telemedicine)
Since the beginning of the pandemic, the use of telemedicine has increased dramatically, and visits by virtual doctors are expected to far exceed those of previous years. In the next 5 years, telemedicine demand is expected to grow at a rate of 38% per year. To further adopt telemedicine, the federal government and legislators have incentivized stakeholders with unprecedented flexibility.
The telemedicine industry is actively responding, as evidenced by large-scale acquisitions to expand the telemedicine field. Teladoc’s $18 billion deal with Livongo, Amwell’s planned IPO, led by Google’s $100 million investment, and Zocdoc’s launch of free telemedicine functions in a record time for thousands of doctors, all show the pace of innovation and progress Swift.
The advancement of technology has greatly promoted the provision of telemedicine, but some constraints hinder its practicality and scope of use, and pose challenges to other forms of telemedicine:
Implementing a robust and vigilant IT department to oversee security, and working with doctors’ offices, remote monitoring providers, and patients to encourage participation and widespread adoption is the challenge that the telemedicine industry is facing to make telemedicine more accessible and secure. However, payment parity is an important issue that needs to be resolved beyond public health emergencies, because if there is no confidence in reimbursement, it will be challenging to make some necessary technological investments to enhance telemedicine capabilities, ensure flexibility and maintain financial viability.
These advancements in healthcare technology can incorporate patient experience and lead to value-based innovative arrangements
Telemedicine is more than just using virtual interaction instead of going to the doctor’s office in person. It includes tools that can monitor patients in real time in the natural environment, understand the predictive “signs” of disease progression, and intervene in time. Effective implementation will accelerate the pace of innovation in the biopharmaceutical field, improve patient experience, and significantly reduce disease burden. The industry now has both the means and the motivation to change not only the way evidence is generated, but also its deployment and payment methods. Potential changes include:
As mentioned above, the data utilized by advanced technology can provide information for treatment and value evaluation, thereby providing patients with meaningful therapies, improving the efficiency of healthcare, and reducing system costs, thereby supporting providers, payers and drug manufacturers Agreement between. One possible application of these new technologies is the use of VBA, which can associate value with therapy based on results rather than its monetary cost. Value-based arrangements are the ideal channel to take advantage of these new technologies, especially if regulatory flexibility goes beyond the current public health emergency. Using patient-specific indicators, data sharing, and merging digital devices can take VBA to a whole and higher level. Policy makers and healthcare stakeholders should not only focus on how telemedicine will continue to develop after the pandemic, but should focus on broader changes that should play a greater role in medical technology and ultimately benefit patients and their Family provides value.
Eli Lilly and Company is a global leader in healthcare. It combines care and discovery to create medicines that make the lives of people around the world better. Proof can measure the health status in daily life and enable anyone to participate in breakthrough research and health programs.
Post time: Feb-19-2021