Health Industry Insights Report Reveals Personalized Health on Brink of Transforming Health Industry, Patient Care
FRAMINGHAM, MA – OCTOBER 3, 2006 – In a new report published today by IDC's Health Industry Insights, industry expert Dr. Alan Louie identifies how personalized health will improve patient care, as well as lead to sustainable cost savings for all stakeholders in the healthcare and life science industries. In the first of many reports to publish under Health Industry Insights' new Personalized Health service, Louie and his co-authors provide an in-depth look at how the personalized health paradigm impacts the health industry value chain – from the life science research and clinical development to patients, providers and payers.
"Today's industry trends, such as the anticipated loss of the traditional pharmaceutical blockbuster business model and the ever-constant push to control healthcare costs, is forcing change across the health value chain," says Louie, research director for Health Industry Insights and lead analyst for the company's new Personalized Health service. "To maximize patient outcomes through cost-effective practices, the industry needs to embrace this major shift toward knowledge-based personalized health solutions."
In addition to defining the landscape of personalized health, the report identifies major drivers and barriers to adoption. Top potential barriers include reduced market sizes for personalized health within the advancing life science industry, the long-term need for pharmaceutical industry to change its blockbuster business model, the unequal distribution of benefits for innovative healthcare delivery, and consumer privacy and security concerns. When identifying drivers supporting the adoption of personalized health, Health Industry Insights' analysts cite the growing wealth of biological data, the industry's increased ability to transform data into knowledge, and increased electronic access to knowledge as areas to consider.
Regarding the immediate future of personalized health, the report offers specific actions to consider for each of the key industry stakeholders. Adds Louie, "The adoption and successful implementation of personalized health will be a truly collaborative effort. Whether you work in pharmaceutical and biotechnology industries, clinical development, or for a healthcare payer or provider organization, it's important that you recognize your role in advancing this endeavor."
The report, entitled "The Personalized Health Paradigm: Transforming the Pharmaceutical and Healthcare Industries for the 21st Century," publishes today online at www.health-industry-insights.com .
About Health Industry Insights, an IDC company
Health Industry Insights, an IDC company, provides health industry executives with research-based advisory and consulting services that enable healthcare and life science executives to maximize the business value of their technology investments minimize technology risk through accurate planning; benchmark themselves against industry peers; adopt industry best practices for business/technology alignment; make more informed technology decisions; and drive technology-enabled business innovation. Health Industry Insights provides full coverage of the health industry value chain and closely follows the payer, provider and life science segments, with special emphasis on developing and employing strategies that leverage IT investments to maximize organizational performance. Staffed by senior analysts with significant technology experience in the health care industry, Health Industry Insights provides a portfolio of offerings that are relevant to both IT and business needs. Visit www.healthindustry-insights.com for more information.