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Insurance Benefits For Innovation And Research In Europe – How to pay for digital health solutions in Europe? R2G Team at GIANT Health Europe
Today, Europe is a hot topic for digital health providers. At the gold standard, the cost of acquiring digital solutions is still money. But how are digital health solutions integrated into the reimbursement system, and why are digital health solutions attractive to paying insurers?
Insurance Benefits For Innovation And Research In Europe
At GIANT Health European Tech Innovation Week, Teams from Oviva, OnlineDoctor, SilverCloud Health, ORCHA and CSS discuss the state of the art of recent restoration opportunities in EU countries and why they are funded. Market channel for digital health solutions, is DiGA a strong option to enter the European market? Should other channels be preferred in the coming years? What are the key factors for insurance companies to cooperate with startups?
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On May 18, 2022, a virtual panel discussion “How to implement digital solutions in a satisfactory European system” with global thought leaders.
The European market opportunity is huge. Healthcare costs 1.3 trillion euros, or about 10% of the European economy’s GDP on average. A feature of the European market and European culture is that they do not like to pay for health care out of pocket. According to the World Health Organization, the proportion of out-of-pocket expenses is about 16%, varying from country to country, from a low of 9% in France to a high of 39% in Bulgaria. Because of these nuances, digital health companies want to be acquired and paid for in some way by the health system.
The European market is very limited, and it is a big challenge for digital health companies to adapt to different healthcare systems, institutions, consider different go-to-market options and HCP, and choose the right distribution channel to reach a greater number of patients. . Selected European markets.
Germany is the first country in the European Union to implement procedural rules for digital health applications that are prescribed by doctors and paid for by the insurance company. DiGA is an excellent opportunity for digital health providers to enter the German market, as it opens the door to 73 million German residents with public health insurance and offers a model and quality of reimbursement. To date, some European countries (for example, Belgium) have implemented or hope to implement the same evaluation framework as France to evaluate digital health applications and provide direct access to public compensation systems. However, most European countries have not yet shown interest in services digital health standard practice in their established health insurance systems.Entering the market in these countries requires different strategies to go to market and the adoption of secondary solutions.
Integrated And Consistent Reporting System
The team’s extensive research, which divides European countries into 4 groups, based on the reimbursement status of their public health insurance system, shows that Germany, Belgium and France, with more than 149 million already urbanized public health insurance, are the most attractive markets. Access to the European system returns.
These are just some of the open facts and thought provoking content shared by host Ralph Johns MD.
It shows unique business models and service offerings, as well as an informative perspective on the benefits of engaging with digital innovators and the challenges facing the current market.
Ralph was also on hand to set the scene and spark an interesting conversation during his speech
Mmb Health Trends 2023
Four Key Pathways for Digital Health Companies to Access Digital Health Solutions with Public/Private Reimbursement
There are 4 main channels that digital health companies can choose to monetize their digital solutions.
Optional contract – This is one of the options and channels used to receive payments for digital health.
Digital Health Code – Regulators specifically introduced digital health codes during the pandemic. Most of these codes refer to telehealth services and in some cases RPM. These codes allow the payment of remote services and consultations, as well as the payment of software for the use of services.
Chapter 8 Healthcare Systems And Pharmaceutical Industry In Emerging And Developed Economies: China And Poland Versus The Us And The Eu In: Economics And Mathematical Modeling In Health Related Research
List of Regulators – Various programs managed by national regulators aimed at creating a standardized process for digital health solutions paid by healthcare systems. Germany has Degas and Belgium health walkers.
The German DiGA started the process a few years ago and today we are looking at 33 digital health records that can be prescribed by doctors and the first reports show that their use is quite limited. One of the reasons for this is the expected slow pace of adoption among healthcare professionals, who must incorporate digital solutions into their daily lives.
“DiGA was hyped, but almost two years later, public companies are only reporting the number of DiGA prescriptions per day. It will increase, but digital health companies must understand other channels in the country’s revenue process,” Ralph-Gordon Johns, MD; Ph.D.
Almost everyone in Europe has health insurance. For many companies, payments are seen as the only option to monetize their applications. But is it so?
Health Sovereignty: How To Build A Resilient European Response To Pandemics
The leading digital health companies in this group have chosen different business models and market entry options to successfully enter specific European markets. Let’s see what they are!
Oviva is a leading European digital health market player, providing treatment for diabetes and obesity through a unique humanitarian treatment platform, Digits 2 Diabetes.
“Oviva is focused on delivering better patient care and outcomes while reducing healthcare costs. If done right, the rewards will come in time.” Kai Eberhardt, CEO, Oviva
More than 300,000 patients have been treated with Oviva. The physician-prescribed solution offers fully app-based remote care as well as a hybrid solution that combines digital and personally delivered care.
Europe Bancassurance Market Size & Share Analysis
It is a perfect example of the success of demonstrating all four of the aforementioned routes of market entry, and in each case, digital solutions have been compensated. The company with the current health regulations is organized by DiGA Oviva Direkt, it works within the current budget and has selective contracts, one of the partners is actually CSS in Switzerland. According to Kay
People who work in fashion don’t expect the system to innovate
Synchronous access to “stock-and-trade” technology, a teledermatology service provided by doctors online, is currently not covered by German regulators. The company’s main payment channel is through opt-out contracts. In Germany, the company works with more than 50 legal insurance companies to provide services to its members. As a result, more than 25 million patients already have free access to online doctors. The contract with private health insurance is simple from a regulatory perspective, as patients are forced to pay in full for services, which provides approximately 10 million additional patients who can again use the service.
“Doctor online has been able to win over health insurance companies because we have positioned ourselves as a long-term development partner and tailored personalization plans to health insurance companies.” Dr. Philip Wustrow, Co-Founder, OnlineDoctor.
Digital Health Center Of Excellence
From a strategic point of view, unlike some teledermatology companies, Doctor Online Company has an exclusive agreement with the Professional Association of German Dermatologists. To date, more than 600 expert dermatologists / dermatologists use the platform on a daily basis. The device is also the only provider of teledermatology medicine.
The main insurance tests in Switzerland do not cover the skin. The solution found by Online Doctor was an outpatient insurance product integrated with digital skin tests. In this case, patients can go up to 90% discount services. Many insurance companies that partner with the company offer the service at a low price and advertise it to their members. CSS is one of the online teacher partners.
Silver Cloud Health is a leading and trusted on demand virtual mental health platform – delivering clinically proven results at scale in the UK and Ireland, part of Amwell.
The company is a leader in digital mental health, reaching 12 million people in six countries. With over 18 years of academic and clinical research experience, Silver Cloud is the industry leader in Internet-based CBT (Cognitive Behavioral Therapy) solutions.
Europe’s Best Decade In Tech
The British system is different. There are various ways of marketing the NHS at local, regional and national levels. SilverClouds works with many NHS trust foundations. The company is also now represented by businesses and insurance companies – private health insurers, private healthcare providers, employers, etc. Yes, except in the advertisement.
ORCHA is a trusted global leader in the delivery of digital health technology, producing more digital health products than any other company in the world.
The company has developed an agile end-to-end technology that allows them to evaluate and validate digital health technologies at a new speed. ORCHA works with organizations and governments to provide secure, verified, and compliant services
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