Patient Data Access News

The Future of MedTech Defined by Healthcare Consumerism

MedTech executives said healthcare consumerism and the “patient as consumer” trend will redefine their company’s long-term strategy.

medtech is embracing principles of healthcare consumerism

Source: Getty Images

By Sara Heath

- Healthcare consumerism is becoming more than just a buzzword, with medical technology (MedTech) executives signaling that the trend is starting to influence their company’s strategic planning, according to a new report from Accenture and AdvaMed.

The concept of healthcare consumerism, defined as the personal choice and responsibility in paying for and managing one’s own health, isn’t exactly new.

With the rise in high-deductible health plan (HDHP) enrollment, patients are increasingly on the hook for their medical expenses. That, coupled with the expansion of health technology options and focus on chronic disease prevention and management, has transformed the patient into a consumer who has choice and agency.