Compiled by Cari Kraft, Jacobs Management Group, Inc.
A majority of Gen Y doctors learn from peers
Physicians 26-36 say peers are the most relevant source for learning about new treatments, compared to 18% of non-millennial doctors, who depend more on traditional sources of information.
Source: “Millenial Mindset: The Collaborative Clinician” from GSW, inVentiv Health PR Group and PALIO, June 2016
Healthcare costs increase across the board
National healthcare costs increased by 6.5% in the commercial market in the last year. Medical services costs increased by 4.30%. Drug costs increased by 15.83%. Brand-name drug costs increased by 19.17%. Generic drug costs increased by 6.58%.
Source: S&P Global Report, May 2016
Biosimilars responsible for major savings
An estimated $110 billion in savings from the use of biosimilar medicines has been achieved. An active pipeline of 56 new products in clinical development are expected to deliver these savings to health systems across Europe and the U.S. through 2020.
Source: Competitive Markets,” IMS Institute for Healthcare Informatics, March 2016
86% of email is now read at least once on mobile
Click-through-to-open (CTOR) rates are also 3% higher on mobile, and iOS users have a CTOR of 19.0%, while Android use is 5.4%
Source: Kahuna Mobile Marketing Index: “Smart Messaging Triples App Retention,” May 2016
40 -45% of consumers with chronic conditions use at least one health app
Also, more than 60% of U.S. broadband households have someone with a chronic condition, while the number of people 65-85 will account for more than 16% of the total population by 2025.
Source: Parks Associates consumer research
Health and pharma ad spending will surpass $2 billion in 2017
Digital Ad spending by the US Healthcare and Pharmaceutical Industry is forecasted to exceed $2B in 2017 and will grow at a rate of over 10% per year to $3B by 2020.
Source: eMarketer, March 2016
Doctors send $1.6M on average to hospitals
Physicians are generating more revenue for hospitals even as insurers and the government shift more dollars away from fee-for-service medicine toward value-based care. A new study shows that a single doctor on average brings in $1.56 million in direct net inpatient and outpatient revenue to a hospital, an increase of nearly 8% over 2013.
Source: Merrit Hawkins, Physician Inpatient/Outpatient Revenue Survey, 2016