NEW YORK — While the Patient Protection and Affordable Care Act will undoubtedly reshape the U.S. healthcare industry for years to come, it is only one of many factors that will emerge next year, according to a new report released Wednesday.
The report, Top Health Industry Issues for 2014, by PwC's Health Research Institute, was based on a survey of 1,000 consumers and interviews with health industry leaders.
According to the report, the 10 issues that stand out as the top focus for the industry are:
- Price transparency is growing as purchasers - consumers and employers - are demanding and receiving more information on cost and quality
- Employers are exploring new health insurance options through private exchanges
- New regulation aims to eliminate counterfeit medications in the drug supply chain
- States are turning to managed care to help contain Medicaid long-term care costs
- All healthcare companies need to rethink their roles and business models in the new health economy
- Healthcare companies will need to change their rules on innovation — embrace “fail fast” approaches
- Social, mobile, analytics, and cloud technologies are driving new health industry business models
- Corporate venture capital is picking up the slack as traditional venture funding slows for pharmaceutical start-ups
- Technology is redefining the healthcare job market
- Drugmakers must rethink their clinical trial research methods, embracing alternative approaches
“While health insurance exchange implementation is driving headlines today – in reality the next 12 months will be marked by how well the industry addresses a range of core business challenges," PwC U.S. health industries leader Kelly Barnes said. "Our annual Top Issues report identifies the main concerns facing the health industry in 2014. Businesses must address rapid innovation and competition from non-traditional players, but above all they must respond to empowered consumers as customer-centric transformation sweeps healthcare.”