In response to several industry and consumer trends, global healthcare spending is expected to reach $10.06 trillion by 2022, according to a recent report by multinational professional services firm Deloitte.
Four things to know:
1. Deloitte highlights several factors affecting global healthcare costs, including soaring life expectancy, the fight against communicable diseases, and the continued contraction of noncommunicable diseases, including cancer, heart disease and diabetes.
2. "Superclusters" of public-private providers, payers and market disruptors are turning to "smart health" to collectively drive innovation and lower costs.
3. Industry players will continue to contend with the push toward value-based care models, and continue to form unique payer-provider collaborations and engage IT and analytical support tools throughout the transition.
4. Providers will continue to turn to virtual health solutions like telemedicine to align themselves with consumers and their needs. However, progress may be hindered by the lack of reimbursement, complex licensing requirements, and privacy and security issues related to the technology.
To access the full report, click here.