According to Dr. David B. Nash, Dean of the Jefferson School of Population Health, the healthcare economy is changing from one that encourages service volume to one that encourages better health outcomes. His mantra for the future is, “no outcome, no income”.
This was the gist of Dr. Nash’s talk at the 2012 CONVERGE Summit for Healthcare Innovation. He also stressed that insurance companies will be moving into the wellness and prevention business. One area of opportunity sited by Dr. Nash was that companies can create margin by reducing waste throughout the entire healthcare system. That doesn’t mean simply cutting costs, but improving value by making intelligent use of the burgeoning amount of health data and information that we will be able to tap into. Data will be the foundation for medical device design in the future.