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online consultation service in all areas of medicine.
Second Opinion Market Data
Healthcare’s Trillion-Dollar Disruption
Wave 1: Patient-Centered Care (2010-2016)Eliminate nearly $350 billion of low-value-add activity and shift another $600 billion from provider-centered care models to patient-centered care models.
Wave 2: Consumer Engagement (2014-2020) in Wave 2, another $150 billion in low-value-add activities is squeezed out, while $400 billion ofadditional value will rotate to the new retail value chain.
Patient Protection and Affordable Care Act (PPACA)
Increase in the number of people who are seeking health insurance and healthcare services
Significant shortage of physicians over the next 5 -10 years
Personalized and concierge medicine
Alignment of Policy, Trends, Technology and Global Need
Tremendous pressures to cut healthcare expenses – second opinions are most effective in prevention, unnecessary expensive treatments & surgeries and in fighting fraud and abuse
Pressures to cut staggering medical error rates and improve morbidity/mortality
Urgent need to add a second engine as we are flying a single engine plane in healthcare
Universal coverage by 2014; insurance companies must differentiate and compete for 30+ million uninsured
Global shortage of qualified MDs
Maturation of Technology/Internet( (HTML5 etc)
Consumerization of healthcare (15 years late! )
Second opinions are not only universally desired but even fashionable
Acceptance by medical community
Telemedicine/Telehealth Trends and Scalability
Annual telemedicine growth rate of 19% from 2010-2015
Radiology: 600M+ radiological exams in the USA alone and 5B+ globally, growth rate 10-20% per year
Used to close the gap in healthcare
Lowers the cost of treating patients
Enables healthcare personnel to meet demand without delays in treatment
Opens an opportunity for Personalized Medicine and Second Opinion Service
Select Recent Second Opinion Market Data Examples
Cancer Treatment Centers campaign to drive primary traffic: www.cancercenter.com
52 percent of people use their smartphone to get a second opinion: www.pcmag.com
Majority of Americans concerned about medical errors; 56% of patients seek a second opinion: www.clinicaladvisor.com