Wednesday, July 23, 2014

Parks Associates: U.S. patients of Accountable Care Organizations (ACOs) to exceed 130 million by 2017

Connected Health Summit features session on ACO challenges and opportunities with Intel-GE Care Innovations, SSM Health Care, Meridian Health, and Intermountain Healthcare

Parks Associates digital health research finds recent business and regulatory changes in healthcare will drive the number of U.S. patients receiving care from an ACO from 40 million in 2015 to over 130 million by 2017. The research firm, which will host the inaugural Connected Health Summit: Engaging Consumers, September 4-5 in San Diego, says the new emphasis on performance-based metrics and payment will boost usage of this business model as well as the healthcare technologies that promise to improve care outcomes.

“Reforms to the healthcare financial model tie compensation to care outcomes, and ACOs, built on the coordinated care model, align well with this new emphasis," said Harry Wang, Director, Health & Mobile Product Research, Parks Associates. "Parks Associates defines ACOs in the broadest sense to include Medicare ACOs, private-sector Patient-Centered Medical Home practices, and healthcare providers that accept a pay-for-performance arrangement with private and public payers."

Parks Associates expects ACOs to generate nearly $1 billion in care management revenues this year.

“At Connected Health Summit, industry leaders will discuss innovative business models that match with these new initiatives and the technologies that support them, including home monitoring, cloud services, mobile computing, and data analytics," Wang said.                                            

"The digital health markets need to develop business models that make sense while organizations are transitioning to these different care reimbursement models," said Sandra Elliott, Director, Consumer Technology and Service Development, Meridian Health. "Health and technology providers should focus on providing end-to-end scalable solutions that offer financial benefits to purchasers while showing value to patients as individuals by enabling them to live their life to the fullest, thus encouraging strong consumer engagement."

The Connected Health Summit session “Path to Quality of Care: Leveraging Technology for ACOs” will examine the challenges and opportunities facing ACOs face in delivering patient-centered care and the best practices to proactively engage patients. Speakers include:

  • Julie Cherry, Director of Clinical Services, Intel-GE Care Innovations
  • Gaurov Dayal, President, Delivery, Finance and Integration, SSM Health Care
  • Sandra Elliott, Director, Consumer Technology and Service Development, Meridian Health
  • Tammy Richards, Operations Director, Patient and Clinical Engagement, Intermountain Healthcare

The two-day summit will feature keynote addresses from Ascension Health, Humana, Kaiser Permanente, Qualcomm Life, and Walgreens as well as interactive panels focusing on the impact of connected devices, mobile health services, and new health reforms on service providers, connected device manufacturers, payors, and institutions in the digital health markets.

Connected Health Summit Sponsors are ADT, Care Innovations, Lowe’s, Z-Wave, Independa, Masimo, and Alya Networks.

Information about the Connected Health Summit: Engaging Consumers is available at www.connectedhealthsummit.com. Press passes for the event are available at http://www.parksassociates.com/events/connected-health/media. To schedule a meeting with an analyst or speaker, contact Holly Sprague at hsprague@gmail.com or 720.987.6614.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

About Connected Health Summit: Consumer Engagement and Innovation

Parks Associates’ Connected Health Summit is an executive conference focused on the impact of connected devices and IoT healthcare solutions on consumers at home.

Connected Health Summit provides insights on consumer behaviors and changing demands driven by the COVID-19 pandemic and new business models, IoT technologies, and deployments emerging to target these new needs. The conference addresses opportunities for new solutions, including smart home platforms, on-demand services, voice assistants, and wearables, to empower consumers, caregivers, and providers with new insight into patient health and to meet the growing demand for services in independent living, chronic care management, remote access to care, and wellness and fitness.

The eighth annual Connected Health Summit: Independent Living and Wellness will feature virtual sessions throughout 2021, including January 27, April 14, June 30, August 31, September 1, and December 1. www.connectedhealthsummit.com

Follow the event on Twitter at @CONN_Health_Smt.

Next: Leading Healthcare Companies Join Advisory Board for 2014 Connected Health Summit: Engaging Consumers
Previous: Parks Associates: 60% of U.S. broadband households own a personal health and wellness device

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