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The Consumerization of Healthcare

Updated: May 14, 2021

In the past (and, to a large degree, today), medical device companies focused on selling products to healthcare providers and payers. However, as healthcare moves away from a reactionary, fee-based care model to health and wellness or value-based models, more focus is now on the consumer/patient. Payers are realizing that reimbursement for fees, tests, and visits add cost to an already overburdened system. Over time, prevention is less expensive than treating an acute or chronic condition. This has led payers to reimburse for better patient care and deny payment or penalize for hospital-acquired conditions. In addition, many medical device users today consider themselves consumers, not patients. Read MPO article here

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