Tax bill going to lead to a big boost in Mhealth

KEY TAKEAWAY: The tax bill approved by the Senate, but not read by anyone, is going to lead to a cut in health care.  Millennials are going to need to take care of themselves if they hope to avoid wiping out retirement savings.  This, in turn, could lead to the adoption of more mHealth interventions.

In a study published in CA: A Cancer Journal for Clinicians, researchers led by Dr. Farhad Islami at the American Cancer Society analyzed national cancer data and calculated how much of cancer cases and deaths can be attributed to factors that people can change . These included smoking, exposure to second-hand smoke, being overweight or obese, drinking too much alcohol, eating red and processed meats, eating too few fruits and vegetables, not exercising, exposure to ultraviolet radiation through activities like tanning and six cancer-related infections (including HPV).

Despite the increased approval of cancer drugs, there is no indication that prices are going to come down anytime soon.  Some drugs have co-pays that could wipe out patient savings and the tax cut bill that is moving through Congress is sure to lead for a call to cut health care spending later on.

This represents a huge opportunity for mHealth developers.  People are going to need to take charge of their health or potentially suffer catastrophic financial implications.  

The key to successful mHealth adoption is going to be:

1ne: Utility (ease of use and easy for people to use on a regular basis)

2wo: HCP buy-in that mHealth can lead to better patient outcomes and that the data they collect is actually accurate.

3hree: Insurers recommending mHealth to customers and offering incentives to people to use mHealth.

Given that the majority of voters are against the tax cuts and Republicans it could possible for Democrats to win more seats in Congress and force changes but given how non-responsive politicians have become Millennials shouldn’t hold their breath.

 

FACTOID:

In 2015, U.S. health care spending increased 5.8 percent to reach $3.2 trillion, or $9,990 per person. The coverage expansion that began in 2014 as a result of in the Affordable Care Act continued to have an impact on the growth of health care spending in 2015.

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