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Top 10 Healthcare Market Trends of 2022

Top Healthcare Market Trends of 2022

Healthcare giants CVS, UHG, Humana, Cigna, Centene, and Elevance Health expand their reach and control with diversified operating models in 2022

Value-based care is emerging as a distinct healthcare landscape. The investments in value-based care quadrupled during the pandemic and will continue to accelerate to reach $1T by 2027”
— Dr. Purav Gandhi
AHMEDABAD, GUJARAT, INDIA, March 30, 2023/ -- 2022 has been a challenging year for all the healthcare stakeholders including Payers, Providers, and Pharma companies, however, at the same time there was focus on accelerated innovation in certain service areas. The healthcare market has begun to address the patient’s full health journey, leading to improved affordability, quality, access, and experience. This led to healthcare stakeholders changing their operating models through diversification, vertical integration and developing new businesses. The latest research report “Top 10 Healthcare Market Trends in 2022” published by Healthark Insights captures these trends and shifts in the healthcare ecosystem.

2022 witnessed increasing vertical integration and business relationship between payers, providers, PBMs and pharmacies. The big PBMs and Payers such as CVS, UHG, Humana, Cigna, Centene, Elevance Health (earlier known as Anthem), apart from having the insurer expertise, have strong footholds in pharmacy and provider businesses as well. Together these relationships help them exert greater control over patient access, sites of care / dispensing and pricing.

Value-based care is emerging as a distinct healthcare landscape. The investments in value-based care quadrupled during the pandemic and will continue to accelerate to reach $1T by 2027. The ecosystem is currently focused on building enhanced value-based capabilities across payers, providers and other healthcare stakeholders. Presently, the value-based care adoption is highest in primary care, but other specialties such as nephrology, oncology, orthopedics, women’s health and cardiovascular health are seeing significant and meaningful traction.

CMS’ envisions to shift 100% of Medicare beneficiaries into accountable care relationships by 2030. And to achieve this objective ~24M additional beneficiaries would need to be enrolled in ACO models by 2030. As ACOs continue to remain an important pillar for the US healthcare ecosystem, some robust measures can be expected by the CMS in coming months to boost ACO growth. ACO saved Medicare $1.7B in 2021 and it was the fifth year in row that ACOs generated overall savings for Medicare and met quality targets.

2022 witnessed retail giants boldly foraying into clinical trials services. The move was pioneered by CVS Health in 2021 when they launched a new clinical trials services business that promised to help drug companies and contract research organizations recruit clinical trial volunteers and conduct RWE studies. Walgreens & Walmart followed suit in 2022 and launched similar services focused on patient recruitment and RWE studies.

Home Healthcare emerged as the prime hotspot and a new frontier for players across the ecosystem. 2022 saw multiple partnerships to increasingly foray in this space. Cigna partnered with Heal, Walgreens acquired CareCentrix, UHG acquired LHC group, Amazon acquired One Medical and CVS Health acquired Signify Health to build strong footholds in home healthcare.

Inflation Reduction Act (IRA), which allowed Medicare to negotiate lower drug prices, was one of the biggest moves by the Federal government and created a lot of buzz in 2022. According to Congressional Budget Office (CBO) estimates, the prescription drug price inflation rebates and Medicare drug price negotiation provisions will result in combined cumulative government savings ~$200B by 2031, directly at the expense of manufacturer revenues. However, it will be interesting to watch how IRA will overall impact the healthcare ecosystem.

About Healthark Insights Top 10 Research Report Series
Healthark Insights annually tracks the top events and trends in the healthcare and life sciences industry, and publishes five reports at the end of each year summarizing the top 10 trends in healthcare industry, life sciences industry, health tech, the top 10 innovations and top 10 mergers & acquisitions, with an objective of summarizing the key events and industry shaping forces during the previous year, and shares a view-point on how the sector will evolve in the coming year.

About Healthark Insights
Healthark Insights is a global management consulting firm developed by a team of experts from diverse fields such as consulting, pharma, medicine, medical devices, digital health, public health, and management with a common vision to cater to the healthcare and life sciences industry, along with a relentless focus on delivering executable solutions.

Healthark Insights team helps customers make critical decisions every day through expertise that combines deep domain knowledge, rigorous research, and analysis, understanding of markets, technology, and experience. With the right experience and expertise, the team not only provides insights but also works closely with clients to execute the strategy that they have helped develop.

Purav Gandhi
Healthark Wellness Solutions LLP
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Top 10 Healthcare Market Trends in 2022 - A video snapshot by Healthark Insights