Key Trends Shaping Healthcare in 2024: Insights from Julia Strandberg of Royal Philips
In a rapidly evolving healthcare landscape, Julia Strandberg, Executive Vice President and Chief Business Leader of Connected Care at Royal Philips, outlines the most impactful trends that emerged in 2024. According to her insights shared with MobiHealthNews, the focus has been on advancements in home-based care and the expanding realm of digital health reimbursement.
The Drive for Home-Based Care Innovations
Advancements in home-based technologies are paramount. The shift aims to extend superior care to patients in the comfort of their homes, effectively alleviating pressure from traditional healthcare facilities. While the intention to enhance patient outcomes is clear, hurdles remain in scaling these services to reach broader audiences. Key elements still needing attention include the necessary infrastructure and the incentive structures to promote adoption among healthcare providers.
Navigating Digital Health Reimbursement Challenges
Another focal point for 2024 has been the progress within digital health reimbursement. Digital tools are increasingly recognized as essential players in delivering patient-centered care, which can lead to better health outcomes and fewer hospital readmissions. Notably, the expansion of Medicare coverage for Remote Therapeutic Monitoring (RTM) signals a notable shift towards the mainstream acceptance of digital health technologies. Moreover, the integration of AI tools into these reimbursement policies highlights a commitment to leveraging technology for better patient care.
Ensuring Patient-Focused Healthcare Navigation
The challenge now lies in crafting a healthcare ecosystem that allows patients to navigate these systems effortlessly. The future will require ongoing collaboration among stakeholders, including MedTech companies, consumer tech, and public and private healthcare entities, to build a sustainable framework that benefits everyone involved.
Key Surprises in the 2024 Healthcare Landscape
Reflecting on the surprises of 2024, Strandberg identifies two significant developments poised to influence the future of healthcare health: evolving healthcare policy discussions and a rise in cybersecurity threats. As the new presidential administration takes office, it has sparked renewed debates about the integration of patient-centered care models. While the benefits of this approach are acknowledged, the overall adoption has been slower than expected.
Navigating Healthcare Policy Changes
To realize the full benefits of patient-centered care effectively, there is an urgent need to reassess the U.S. reimbursement system. A revised approach would better support various health technologies delivering care across diverse settings, ensuring clinicians are properly compensated for managing care that extends beyond traditional hospital boundaries.
Rising Cybersecurity Threats
The year also saw a concerning spike in cybersecurity attacks targeting healthcare systems. Hospitals have been put in challenging positions, caught between adhering to new cybersecurity protocols and the necessity to adopt innovative technologies that extend care. Often, financial constraints can hinder their ability to keep pace, leaving them vulnerable to cyber threats.
In response to this pervasive issue, the FDA has tightened regulatory requirements for digital health technologies, particularly through 510(k) submissions. This proactive stance aims to safeguard the health systems and patients alike in an increasingly fraught digital landscape.
Looking Ahead to Digital Health Funding in 2025
Strandberg is optimistic about digital health funding continuing to flourish. Despite the challenges that arose post-investment boom of 2021, there’s now a better understanding of how regulations and reimbursement surroundings can affect the practical and safe utilization of digital health tools. As the industry navigates these complexities, the focus remains on delivering care directly where patients reside.
Significant Milestones in Digital Health Reimbursement
2024 marked crucial advancements in digital health reimbursement frameworks as well. The Centers for Medicare & Medicaid Services finalized payments for Digital Mental Health Treatment (DMHT) devices. This step serves as a significant milestone for expanding access to psychotherapy and may pave the way for further reimbursements related to digital therapeutic devices.
New Codes for Remote Patient Monitoring
Additionally, updates from CMS on Remote Patient Monitoring (RPM) codes aim to simplify billing processes, enhance reimbursement capabilities, and support broader adoption of digital health services. New bundled CPT codes are designed to consolidate various services related to RPM, which should alleviate administrative burdens on healthcare providers.
The Future of Mergers and Acquisitions in Digital Health
As we look towards 2025, Strandberg predicts that mergers and acquisitions will play a significant role in the digital health sector. However, she also anticipates a shift towards increased collaboration among clinical tech vendors and healthcare providers. This new ecosystem of partnerships will be critical in bridging healthcare gaps and improving patient access to digital solutions.
Examples of Strategic Collaborations
Collaborative efforts between companies are already bearing fruit. For example, Royal Philips has teamed with AWS to integrate cutting-edge cloud diagnostics and generative AI into clinical workflows. This partnership aims to enhance operational efficiencies and improve patient outcomes in areas such as radiology and cardiology.
AI’s Future in Healthcare
AI’s influence in healthcare will continue to expand in 2025. Strandberg foresees that AI will particularly transform how clinicians process vast datasets to make more informed decisions rapidly. For instance, AI-driven remote monitoring systems can analyze patient data and generate actionable insights, effectively supporting clinical decision-making processes.
Empowering Clinicians Through AI Integration
The increasing adoption of AI-integrated workflows represents an opportunity to streamline clinical processes. By doing so, clinicians can regain valuable time and focus on delivering high-quality care. This advancement will help determine which patients can successfully manage their treatment at home and which require in-person consultations.
Conclusion: A Future of Innovation and Collaboration
In summary, the healthcare landscape is on the brink of transformative changes fueled by advancements in digital health, AI integration, and strategic collaborations. While challenges exist, the collaboration between various stakeholders presents a unique opportunity to overcome hurdles, leading to improved patient outcomes and a more resilient healthcare system. As we progress through 2024 and beyond, the emphasis on patient-centered care stays strong, guiding the industry towards a healthier and more accessible future.
