Orr Inbar, Quant Health

2024 will be the year that AI integration will be pivotal to the continued success of those working throughout biotech and life sciences, especially for those involved in the drug discovery and regulation processes.

Short- and long-term use cases recommended by experts.

Neurolief, Relivion

Viz.ai continues to demonstrate significant real-world evidence on the patient and economic outcomes of AI-powered care coordination; Neurolief’s neuromodulation device Relivion is approved by the Japanese Ministry of Health, Labor and Welfare; and Kanerika partners with Microsoft to build an enterprise business intelligence platform powered by Microsoft Fabric for a leading global pharmaceutical company in the United States.

Most medtech companies can’t seamlessly exchange product information between in-country and global regulatory assurance teams, according to the 2023 Regulatory Benchmark Report from Veeva MedTech. Without a standardized and consistent way to share documents globally, organizations can’t ensure the reliability or accuracy of product information across markets. This increases compliance risk.

Fitbit, wearable devices

Fitbit and Quest Diagnostics have announced a collaboration to study the potential of wearable devices to improve metabolic health, which influences the risk of developing several diseases, including diabetes and heart disease.

2024 predictions

As we step into 2024, the realm of market access undergoes dynamic shifts influenced by technological advancements, policy changes, and evolving consumer behaviors. There are the usual suspects like evolving provider models, the continued transition to value-based care, and pharma and biotech companies’ increased investment in “access,” but there are two trends that are at the top of the “what we’re watching” list for 2024.

A survey of 141 healthcare executives by MD Revolution showed that C-suites are expanding their budgets to establish programs that increase patient and clinician satisfaction, improve outcomes, reduce overall expenses, and unlock new revenue.

Doctor, cell phone

Many telehealth policies expanded during the pandemic have been extended through December 31, 2024. Beyond that, policymakers will need to make hard decisions or continue with temporary extensions. Either way, a range of changes in telehealth are coming and will impact reimbursement policies, technology infrastructure, privacy, provider and patient/member adoption, and economic factors.