Home Health Hot Topic at Global Market Development Center HBW16 Marketing Conference
COLORADO SPRINGS, Colo., Sept. 30, 2016 – Health care at home was the topic of the day at the Global Market Development Center’s Health Beauty Wellness Marketing Conference. During a lunch-time business session, industry experts discussed GMDC’s latest Health Beauty Wellness Best-Practices white paper, “Preparing for the Future of Retail Health Care: Home Health,” which explores the shift in care from the institutional settings to “wherever the patient is.”
The session’s keynote speakers and panelists included Patrick Spear, president and CEO of GMDC; Dave Wendland, vice president of strategic relations at Hamacher Resource Group, Inc.; Marcus Whitney, president of Jumpstart Foundry; Chris Jobes, director of health and wellness, Johnson & Johnson; and Tim Buskey, vice president of consumer products, AmerisourceBergen.
“Patient empowerment means putting the patients and those who may be helping to care for them in charge with the right tools and knowledge,” said Wendland, who helped develop insights for GMDC’s home health white paper. Hamacher Resource Group, Inc. is the leading partner in category management, business strategy, and marketing services focused on consumer health care at retail.
“In the health care continuum, the patient is surrounded by market trends such as the self care movement as a whole, transitions in care from the hospital to the home and – perhaps most impactful – advances in technology.”
A combination of factors, including a shortage of primary care physicians, the consumerism of health care, quickly-emerging technology solutions in health care, and an ever-increasing appetite for health information are contributing to a trend that has patients and family caregivers dealing with more health issues themselves. The cause and effect? Downstream innovation and consumer self care is causing the shopper to shop differently inside brick and mortar.
“We are seeing trends that are moving to much more of a consumer-driven culture, where we as patients are bearing more of the responsibility of shopping for health care, and paying for care at a time when insurance companies by the dozens are dropping out of the exchanges,” said Whitney. “Tech centered around millennials, focused on mobile delivery, artificial intelligence such as Siri, Uber and self-driving cars, and in clinical settings where it’s helping doctors with real time decisions using evidence-based care. Also, drones, primarily used today for taking pictures, could one day deliver prescriptions.” Jumpstart Foundry is a seed stage health care innovation fund dedicated to being the home of health care innovation, and helping entrepreneurs make something that truly makes a difference.
Additional insights of session included a look at how the downward consumer-patient shift in health care is translating into sustainable increased profits for all trading partners if executed correctly in the retail environment.
“For retailers and manufacturers, the market potential in home health is significant, and it's being driven by the consumer taking ownership of their own health and wellness. This is just the tip of the iceberg -- there is downstream innovation on the horizon that will continue to drive market opportunities, and we’re working diligently to help our members capitalize,” said Spear. “Nearly every household in the U.S. is engaged in self care in one way or another. From smart scales, to ingredient scanners, to brain activity monitors, retail is the primary pathway for the patient-consumer to better manage their own health. The home has become the place to address most chronic - and some acute – conditions, and the consumerism of health care is not just a trend, it’s the future.”
HBW16, continues through Oct. 2, in San Antonio, Texas. For more, visit https://www.gmdc.org/conferences/2016-hbw-conference.