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US healthcare industry

Infiniti’s Healthcare Market Research Engagement to Support Expansion Strategy

“Disputes over the US healthcare reform and the future of the Affordable Care Act dominated headlines in 2018, but that could take a backseat this year, as challenges such as digital therapeutics and tax reforms have started coming to the forefront,” says a healthcare market research expert from Infiniti Research.

The US healthcare industry is witnessing a phase of tremendous disruption, triggered by the advent of digital therapeutics, rising need for upskilled health workers, and emerging trade pressures. This pace of change has not only brought about new opportunities for companies in the US healthcare industry but has also compelled companies to restructure their businesses to efficiently tackle the rising challenges. Consequently, many healthcare companies, especially companies who are new to the US healthcare industry are now partnering with market research firms like Infiniti Research to explore new avenues and markets for growth.

Major companies in the healthcare sector have already started using data and research to increase their marketing visibility and sales opportunities. Don’t get left behind. Request for a FREE proposal today!

Business Challenge

The client is a healthcare company based out of Canada. The client was looking to expand their business operations to the United States. As the US healthcare industry is highly saturated, the client wanted to gain detailed insights into the market before making huge investments.

They also wanted to understand how the advent of digital therapeutics is reshaping the landscape for new medicines, product reimbursement, and regulatory oversight. Moreover, the client wanted to evaluate capital requirements for increasing their workforce’s efficiency and productivity and ensure they get the most out of new and impending investments into technologies such as AI and robotic process automation (RPA).

Furthermore, the client wanted to identify the tax reforms and restructure their business strategies to accommodate new rules and healthcare policies in the US healthcare industry. To do so, the client approached the healthcare market research experts at Infiniti Research.

Top challenges faced by the US healthcare company were:

Advent of digital therapeutics – As companies in the US healthcare industry are highly investing in digital therapeutics and connected devices, the client wanted to understand how these digital health technologies will reshape the landscape for new healthcare companies.

Tax reformsTax reforms posed a serious threat to companies in the US healthcare industry. Therefore, the client wanted to understand the evolving healthcare policies and restructure their business to accommodate new rules and regulations. They also wanted to restructure their supply chains to accommodate a new territorial tax system.

Need for skilled workers – With artificial intelligence and robotic process automation becoming mainstream in the US healthcare industry, the lack of skilled workers to support the new processes can turn out to be costly for the company. Therefore, by conducting a thorough US healthcare industry analysis, the client wanted to evaluate the budget they would need to recruit skilled workers or train them.

Entering a new market without a thorough understanding of the competitive landscape and industry challenges can prove to be costly for any company. CONTACT US to know how our healthcare market research solutions can help your company to engage more efficiently with today’s healthcare consumers.

Solutions Offered

With over 15 years of experience in serving various healthcare companies across the globe, the experts at Infiniti Research helped the client to devise an efficient market expansion plan to enter the US healthcare industry.

  • By leveraging Infiniti’s expertise in offering market entry advisory solutions, the experts helped the client to review macro and micro-economic environment, identify potential barriers to market entry, and identify the best route to enter the US healthcare industry.
  • By conducting a detailed market opportunity analysis engagement, the experts at Infiniti Research helped the client to assess markets’ readiness for new offerings including digital health technologies. With our help, the client was able to understand how digital health technologies will transform the US healthcare industry landscape in the years to come and identify competitors who were leveraging similar technologies.
  • By leveraging our expertise in offering market scanning solution, the market research experts at Infiniti Research helped the client to understand the evolving healthcare policies and tax reforms and track regional developments.
  • The experts also helped the client to evaluate the capital requirements for entering the US healthcare industry and also analyze the capital investment for recruiting skilled workers to support business operations.

Results Obtained

Based on our insights, the client gained detailed insights on the market demographics and competitive scenario. They also developed a detailed understanding of the attractiveness of market opportunities for their product and service offerings. The healthcare company was also able to devise a market expansion plan to establish a foothold in the US healthcare industry. Also, they were able to better understand the current and future market potential, capital investment, and market opportunities in the US healthcare industry. Furthermore, within two years of entering the US healthcare industry, the client was able to achieve profitable growth and establish themselves as one of the top 20 companies in the US healthcare industry.

By offering actionable market intelligence solutions, we help our clients meet their business goals and objectives to gain a leading edge in the market. Request for more information to learn more about our services and their benefits for your business.

US Healthcare Industry: Major Challenges

US Healthcare Industry Analysis

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Future of healthcare

4 Factors Shaping the Future of Healthcare

The healthcare industry has experienced a myriad of changes ranging from public legislation to technological development over the past couple of years. With the increasing population and the rising need for enhanced healthcare services, we can expect the future of healthcare to be dominated by technological advancements to ensure the efficiency of both patient care and processes in healthcare organizations. In this blog, healthcare industry experts at Infiniti Research unveil factors that play a key role in shaping the future of healthcare.

The global health care industry doesn’t show any signs of slowing down in 2019. RFP to know what the future of healthcare would look like and learn how our experts can help you build strategies to survive the rapid changes in this sector.

Factors shaping the future of healthcare

Future of healthcareCosts

There is an increased demand for healthcare services in the US. Experts predict that consumer spending on healthcare is expected to rise exponentially over the next decade. However, the healthcare costs are also expected to see a rise in the future of healthcare industry. The lack of transparency in pricing in U.S. healthcare organization will add on to this challenge.

Aging population

According to recent reports, a quarter of the US population consists of baby boomers. This generation is estimated to have a greater life expectancy than any of the previous generations. This means that there will be an increasing need for continued medical care for this population in the future of healthcare. Furthermore, the rising population will spur the need for healthcare services. This means that healthcare talent management professionals will continue to battle head-to-head with their peers. Furthermore, the biggest growth areas for employment in the future of healthcare will be home health aides, geriatric nurses, physical therapists, and similar jobs.

If healthcare providers can transform their organizations to foresee future challenges and plan strategies to overcome them, they are one step closer to success in the long run. Get in touch with our healthcare industry experts to know how we help clients to keep a closer watch on their target markets.

Healthcare consumerism

One of the biggest trends in healthcare right now is consumerism, and this trend is expected to play a dominant role even in the future of healthcare. Patients now have gradually started to believe that proactivity on their part is critical to ensuring high quality care and better outcomes.  As a result, patients are now taking active participation in their care experience and are even more empowered to choose their care plans. Furthermore, decreasing levels of direct contact with medical professionals are becoming common, and in the future of healthcare, patients will be able to order refills, schedule appointments, and consult with their primary care physicians with the use of online patient portals.

Drugstore clinics

There is an increase in the prevalence of healthcare clinics across the US, and this growth is expected to continue through the future of healthcare. These establishments provide a wide range of services including treating sprains and shingles, administering pregnancy tests, doing diabetes monitoring, and much more. This will be a direct competitive threat for the healthcare organizations in the near future.

Learn more about Infiniti’s solutions for the healthcare industry

healthcare marketing strategy

Essentials for Creating an Unbeatable Healthcare Marketing Strategy

Every organization needs to have a marketing strategy to stay competitive in the marketplace. When it comes to healthcare, irrespective of whether you are a healthcare provider, health tech developer, or a medical device manufacturer, you need to have a strong healthcare marketing strategy in place in order to survive amidst the emerging trends and massive consolidations in the sector. To stay competitive and gain new business, it is vital to have an effective brand strategy and marketing innovation. In this blog, we’ve discussed some of the must-haves for a winning healthcare marketing strategy.

The best strategies are those that are customized to meet the demands of your organization. Request a free proposal for a tailor-made healthcare marketing strategy to suit your organizational needs.

Essentials for a strong healthcare marketing strategy

healthcare marketing strategyFocus on customer experience

Today, customer experience is one of the most critical factors of success for any business. Your healthcare marketing strategy should revolve around how your products/services will meet the customer needs and ensure better customer experience. An effective healthcare marketing plan must include creating a mobile-friendly website, undertake accessibility best practices for those with disabilities where needed (such as your website or product), enhance usability for your website, service, or product design.

Easier accessibility

Another essential factor to enhance your healthcare marketing plan is to become more accessible to the customers. Undertake efforts to minimize the time taken for patients to reach a hospital facility in order to undergo treatment. This can be done by adopting more advanced technologies in healthcare such as live chat platforms, extended support hours, and telehealth services.

Be where the audience is

For your healthcare marketing strategy to be successful, it is vital to identify where your audience is most active and establish your presence there. Some key questions to be answered here include – what are the social networks that the target audience is clustered around? Is there an opportunity to develop a mobile app? What is your ranking on various search engines? An ideal healthcare marketing strategy should be able to place you where your target audience expects to find you.

While building a healthcare marketing strategy, chances are that you overlook critical factors that may play a key role in influencing your target audience. Request a free brochure to know how our solutions for the healthcare industry can help overcome this.

Build inter-personal relationships

Healthcare is a sensitive subject, so the closer you get to your customers and the better relationships you build with them, the chances of your success becomes higher. Advanced capabilities such as big data and analytics can facilitate in formulating a good healthcare marketing strategy and build better customer relationships. Furthermore, it also helps to understand if there are any common patient or customer demographics that can be incorporated into your marketing message.

Increase security

Security is one of the key issues looming in the healthcare industry right now. All your efforts put into building a good healthcare marketing strategy can go down the drain if your customers do not trust you with their data. From electronic health records to customer login details, security best practices must be followed, and all the regulatory requirements should be adhered to.

healthcare industry analysis

Asian Healthcare Industry Analysis 2019: The Wows and Woes

According to our healthcare industry analysis for the Asian market, the sector is expected to record positive growth this year. The rising adoption of technology, innovative healthcare access programs, and growing healthcare industry trends like care delivery outside hospital settings are some of the vital factors fueling the growth of this sector. However, players in this industry still have to identify complex and innovative solutions that can tackle key healthcare industry challenges such as access and affordability in Asian countries. Other challenges in the Asian healthcare sector that requires immediate attention includes policy innovation, support for new business models, development of patient-focused technology platforms, and the evolving role of consumers in healthcare.

Based on a comprehensive healthcare industry analysis by experts at Infiniti research, we have listed out some of the top healthcare industry trends and challenges to watch out for in 2019.

Request a free brochure to know more about our services for the healthcare industry and learn how our healthcare industry analysis has helped several global players strategize their moves for different markets.

Asian Healthcare industry analysis 2019: Top trends and challenges

Healthcare industry analysisRising need for private health insurance

This year, Asian countries will see an increase in the adoption of private insurance, including in countries such as Japan and Singapore that has a strong universal coverage system in place. Our healthcare industry analysis shows that the rising cost of healthcare services is driving consumers to invest in better protection against healthcare-driven-poverty. Furthermore, insurance companies are also bringing in new channels of consumer penetration and wellness-focused products that use advanced technologies to manage consumer health better.

Rise of digital platforms in clinical trials

The increasing cost pressures and a decrease in new drug pipelines have prompted pharmaceutical companies to adopt digital solutions to gain greater efficiency in their research operations. Advanced technologies such as big data, artificial intelligence (AI), Internet of Things (IoT) devices, mHealth platforms, wearables, and crowd-sourcing platforms will facilitate new workflows in clinical trials management and their execution across Asian countries.

A comprehensive healthcare industry analysis is critical for players in the sector to understand the key opportunities and challenges in different markets. Request a free proposal for more insights on your target healthcare market.

Value-based reimbursement

The in-depth healthcare industry analysis of the Asian market conducted by experts at Infiniti Research suggests that value-based reimbursements will soon make its debut in Asian countries. The popular global trend of outcome-based payments and reimbursement models are currently missing in Asia. A closer look into the Asian healthcare industry analysis also shows that industry suppliers, including IT vendors, medical technology companies and pharmaceuticals are already partnering with public and private payers to introduce outcomes-based reimbursement models for expensive therapeutic products and services. Japan is expected to be the first country in Asia to introduce an outcomes-based reimbursement model with China potentially following suit in the near future.

Growth of Home health monitoring platforms

The rise in tech-enabled homecare platforms, which was introduced in Asia a few years ago will start generating returns as well as ecosystem level partnerships that will consequently result in better market sustainability. Based on Infiniti’s healthcare industry analysis, experts also suggest that the industry will move to the next level with the increasing adoption of home-based sensors, robotics, and AI-enabled home health monitoring platforms.

Learn more about Infiniti’s solutions for the healthcare industry

future of healthcare

How Mobility will Transform the Future of Healthcare System in the US

The way in which the US population seek and receive care is so dynamic that it often becomes hard to keep track and also predict the future of healthcare system in America.  Healthcare providers are taking on financial risk for patients, identifying ways to improve healthcare access and outcomes, and prioritizing consumer experience in order to cope with the changing patient needs. Despite several challenges coming their way, providers are increasingly looking at ways to adopt mobility into healthcare solutions.

Are you prepared for the dynamic changes in the future of healthcare? Submit RFP to know how our customized solutions can help you stay prepared to face all the latest healthcare industry trends, opportunities, and challenges.

What is healthcare mobility?

The rapid adoption of mobile devices and other advanced technology by healthcare providers to improve patient care is known as healthcare mobility. As a greater number of patients are increasingly looking for convenient ways to gain healthcare access, mobile devices are gradually becoming a significant part of healthcare IT infrastructure. The use of mobile devices in healthcare will not only reduce the time it takes to save a patient’s life by retrieving data and communicating with team members faster, but it will also give clinicians the tools they require at their fingertips whether they are operating in a primary care, ICU, or emergency unit. Some of the key benefits that mobility can provide in the future of healthcare include:

  • Demand for trauma care will fall as partially and fully autonomous vehicles become mainstream.
  • Increased access to healthcare as providers can develop better mobility networks. As a result, patients will get new options to reach existing providers.
  • More efficient supply networks with fundamental changes in the medical supply chain, thereby enabling nimble transportation networks and disrupting existing models.

This blog from Infiniti Research explores how the various changes that will unfold in the future of healthcare will benefit providers and highlights how providers and other stakeholders in the healthcare industry can position themselves in an ecosystem that is underpinned by autonomous and shared mobility.

The role of mobility in enhancing the future of healthcare

Future of healthcareReduced demand for trauma care

According to reports, in 2012 alone, the number of patients in the US visiting the emergency room due to motor vehicle accidents were over 2 million. This has resulted in millions of dollars’ worth of lifetime medical costs. As roadways in the US are being increasingly filled with autonomous vehicles, accident rates and the associated financial, social, and health burdens are expected to fall. With fewer road accidents, demand for trauma care will likely decline. In the United States, this will likely amplify the future of healthcare to shift focus on advancing overall population health and preventative care.

The future of healthcare is here, and unless you are ready to rethink and reimagine traditional healthcare services, survival in the industry would prove to be challenging. Request a free brochure to know how our solutions can help your healthcare organization.

Improved access to care

One of the persistent challenges for health systems is patient-no show. With the rising number of missed appointment rates in many large clinics, there is a consequent financial burden and lost efficiency for providers. Access to transportation is often a critical barrier to receiving care, especially for chronic conditions that require regular appointments. With mobility, healthcare systems or emergent players could create mobile care units that optimize health professional rounds, dispatching physicians, and nurses to remote care sites or patient homes. Furthermore, the concept of driverless vehicle enables the usage of other emergent technologies such as additive manufacturing, augmented reality, and virtual reality to create highly capable autonomous mobile care units that can carry out tasks that once took place in hospitals, such as 3D printing a custom cast for a broken bone on the spot, running tests on vitals, or holding consultations with specialists.

Optimize clinical supply chain and procurement

Mobility transformation will play a significant role in making the future of healthcare better for not only the patients but also the providers. Medical supply chains can be dangerously fragile. With increased access to cheaper, faster, and more flexible distribution channels, healthcare systems would be able to deliver clinical supplies more efficiently and at a lower cost across their provider network. Distribution networks powered by advanced technology could promise a better future of healthcare with increased speed and predictability with which goods move from suppliers to patients or providers. Companies throughout the medical supply chain should think about how mobility in the future of healthcare could impact their business models, including the potential unintended consequences.

Get more info on the opportunities and challenges facing the future of healthcare

Metal Fabrication

Healthcare Market Access: The Present and The Future

The current state of the U.S healthcare market is characterized by continuous flux and uncertainty. When compared to the overall healthcare costs, the drug costs have grown at a slower rate. Companies in the U.S. healthcare system are now exploring ways to combat these challenges and survive the mounting healthcare market access pressure.

Healthcare market access assists the right patients to get timely and easy access to medical services and products at an affordable price. Accessibility, availability, affordability, adoption, and willingness to pay (reimbursement) should be achieved while ensuring equity and quality at each level. Furthermore, multiple challenges and inefficiencies and uncertainty in healthcare systems lead to unnecessary delays in access to innovative technologies, slow adoption of new and effective technologies, and inequalities in guaranteeing that patients receive the best-in-class treatment.

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Challenges in successful healthcare market access 

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IR26

Top 3 Digital Solutions for Preventive Health Care in 2019

Today, no one can dispute the fact that technology that has enabled all of us to live healthier and longer lives. From surgical robots to smart hospitals, digitization has become inevitable and is revolutionizing patient care in innovative and exciting ways. Healthcare and technology are becoming inextricably linked with new discoveries and innovations becoming the new norm in the industry.  Many health-related services and devices have been developed in recent years with the intention of improving the quality of life of everyone. This has resulted in the implementation of innovative digital solutions for better preventive health care delivery by many international healthcare companies. In this article, we have talked about some of the most useful digital solutions for preventive health care in detail to help you serve your customers with better healthcare services.

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