Healthcare and Innovations

Healthcare has a significant part of a words economy. In 2011, the healthcare industry consumed an average of 9.3 percent of the GDP or US$ 3,322 (PPP-adjusted) per capita across the 34 members of OECD countries. The US (17.7%, or US$ PPP 8,508), the Netherlands (11.9%, 5,099), France (11.6%, 4,118), Germany (11.3%, 4,495), Canada (11.2%, 5669), and Switzerland (11%, 5,634) were the top spenders, however life expectancy in total population at birth was highest in Switzerland (82.8 years), Japan and Italy (82.7), Spain and Iceland (82.4), France (82.2) and Australia (82.0), while OECD's average exceeds 80 years for the first time ever in 2011: 80.1 years, a gain of 10 years since 1970. The US (78.7 years) ranges only on place 26 among the 34 OECD member countries, but has the highest costs by far. All OECD countries have achieved universal (or almost universal) health coverage, except the US and Mexico. 

1. Use of “Big Data” to reduce costs for high-cost patients

2. Financial incentivizing of healthy behavior by employers

3. Innovations for managing outpatient behavioral health

4. Better reimbursement for telemedicine leading to greater use of telehealth and digital health by clinicians

5. Healthcare delivery goes retail to increase patient engagement

6. Increased use of “wearables” in hospitals to detect continuous biomarkers

7. Increased prescriptions for health apps

8. Care delivery innovation for end-of-life care patients

9. Increased use of 3-D printing

10. Better care delivery and engagement for the large number of newly insured and millennials

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