The client: A leading home health care services provider
Area of engagement: Real world evidence
Home health care services offer a cost-effective alternative to facility-based health care and have been proven to provide similar efficacy. Home health care services providers offer a range of skilled nursing as well as other healthcare services. The increasing geriatric population is a significant driver of the home health care services market space. Other factors driving the growth of the global home health care services market include the growing demand for affordable healthcare treatments, awareness about home health among the population, the pressure to decrease the healthcare treatments costs and government support to promote home healthcare.
Moreover, in the healthcare industry, the establishment and maintenance of hospitals is capital intensive and entails considerable investments in terms of operational expenses. This has prompted leading players in the healthcare industry to enter into the rapidly growing home health care services market space with the help of mergers and acquisitions. Also, these establishments engage extensively in strategic initiatives to enhance regional presence.
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The Business Challenge
The client, a leading home health care services provider, approached our team of experts to help them embrace new technologies, strategies, and partnerships to realize opportunities to optimize and demonstrate value through the application of real world evidence (RWE). The client also wanted to gain detailed insights into ways to offer personalized home health care services and improve the health outcomes of its patients. Moreover, the industry-wide shift toward value-based payment models and the demand for personalized healthcare services helped fuel the client’s interest in real world evidence as it can help understand the real value of medical and pharmaceutical device innovations.
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The Solution and the Business Impact
The real world evidence solution offered by the experts at Quantzig helped the home health care services provider to improve their health care services and achieve better health outcomes. It also helped them in adopting new capabilities, industry trends, and strategies to support collaborations and partnerships within the healthcare industry. Moreover, leveraging real world evidence assisted the home health care services provider to understand and demonstrate the value of medical devices and health care innovations.
Real World Evidence Solution Predictive Insights
To thrive in today’s value-focused and technology-enabled health care industry, health care services providers should focus on developing real world evidence based models based on end-to-end (E2E) evidence management from R&D through commercialization. Quantzig’s real world evidence solution was based on a secondary analysis of observational data from patients and healthcare systems. This included establishing an effective governance strategy and leveraging cloud and IoT based technologies to ensure the integration of data sets.
Want to know more about our approach to real-world evidence and how we helped a leading home health care services provider identify and adjust to the latest healthcare industry trends? Request more information from our analytics experts.
Home Health Care Industry Trends
- Demand for smart home health care services: With the advances in medical health care and technological innovation, there is a greater demand for smarter home health care services. Also, voice-technology is increasingly being harnessed to manage home environments that are getting smarter by the day.
- The retail revolution: The integration of home care and retail is a thread running through several trends in the healthcare industry. Several retail stores, local malls, and big-box stores are increasingly starting to double as health care providers and medical equipment suppliers.
- Technological innovations: Old outdated systems are increasingly being replaced with less-intrusive and smarter healthcare systems. However, the effective use of such gadgets requires a considerable investment in terms of time and effort.