Updated on 20 February 2014
Healthcare providers and industry players need to consider key trends and dynamics driving reform in healthcare systems across Asia-Pacific and Australia, such as mobility and security of information, risk sharing, rebalancing of public and private sector financing, delivery of care and use of data analysis for decision making and patient engagement.
Transparency in pricing
Governments across the region are increasingly introducing populist measures and streamlining healthcare regulations. Transparency in pharmaceutical pricing is an important step toward affordable healthcare for the masses and providing access to underserved communities at minimal cost. This effects aggressive pricing conditions and tiered pricing, affecting profitability. Companies operating in these markets would need to relook at strategies, and increase the importance or private pay sectors, as well as the need to offer varying ranges of products. Generics as well as biosimilars will be a main component of minimising the impact of treatments on the overall system.
Health technology assessments and value based care gain momentum
Payments and reimbursements are increasingly tied to quality of care, with mandatory cost justification linked to clinical outcomes. Measures such as innovation or therapeutic value ratings and cost effectiveness assessment tools are being explored in relation to the cost of the product. Currently, very few governments across Asia-Pacific are introducing regulations and providing funding to support adoption of high level medical technology, making commercialisation models very important. An early adopter of hi-technology, Australia is now at the next level of the technology adoption curve. Physicians are now seeking ways to extract more value from existing systems and learn from best practices models from across the country and abroad.