Sixty percent of hospital leaders polled in a Reimagine Care survey cite concerns that they may lose market share in competitive oncology service line if they do not operationalize this clinical and business imperative in the near future
NASHVILLE, Tenn., Nov. 17, 2021 /PRNewswire/ — Nearly 6 out of 10 of healthcare executives are “extremely” or “very open” to making home-centered cancer care a reality at their healthcare organizations, according to a new survey. The survey also found that 71% of executives agree that “we need to be considering home-centered oncology care now.” Even more significantly, 60% of surveyed executives expressed concern that their organizations may fall behind if they don’t make the shift to home-centered cancer care in the very near future.
The survey, conducted by a healthcare market research firm on behalf of Reimagine Care, an innovator in home-centered oncology, reached C-level and VP-level decision-makers at academic medical centers, regional community health systems, and cancer specialty hospitals. It explored healthcare executives’ attitudes towards home-centered cancer care and their perceptions of market drivers and key barriers to adoption.
“These survey results illustrate the urgent need to give patients a new path to receiving cancer drugs and supportive cancer care during an exceptionally challenging and emotional-draining time in their lives,” said Aaron Gerber, MD, co-founder and CEO of Reimagine Care. “The data shows healthcare executives already see home-centered cancer care as a great fit for many patients because it offers a better experience and more affordable, safer care. The executives we surveyed and those we have spoken with across the country have told us that the shift to home-based cancer care is inevitable and possible – and that they see these home-centered alternatives as an opportunity to differentiate themselves from competitors while growing their share in a critical and competitive service line.”
Key survey findings include:
- Patients have power – and are a key motivator: Patients are integral to the changing perceptions of healthcare executives. Four out of five health system leaders said that improving patient experience, satisfaction and outcomes are top reasons for adopting home-centered oncology care models. That datapoint reflects the findings of other recent surveys which found 95% of all patients interviewed preferred chemotherapy and supportive cancer treatments at home as opposed to facility-based care.
- First-movers will have a strategic business advantage while others will be left behind: Executives recognize that home-centered oncology care is gaining traction with 66% of executives agreeing that it represents a “real opportunity for growth” for their health systems. As the overall data reflects, patient preferences can translate to a strategic business advantage in this era of healthcare consumerism. Early adopters of this new home-based option that clearly differentiate themselves from facilities-bound competitors can gain a significant market advantage. In addition, 60% of executives expressed concern that their organizations may fall behind if they don’t make the shift to home-centered cancer care.
- Financial and operational constraints are concerning but not barriers to adoption: Healthcare executives cited financial constraints as the most difficult barriers to overcome, with 57% of respondents ranking the development of sustainable contracting and payment models as the most significant challenge. Those who are open to home-centered cancer care, but do not yet offer any aspects of it are two times more likely to consider payments and contracting as “extremely” or “very difficult” compared to those who already offer some form of the dual care delivery model. However, the data also reflects that healthcare executives do not necessarily perceive these challenges as barriers to adoption but rather as opportunities to innovate and learn.
- Healthcare executives see need for expert guidance and partnership to realize success: Nearly half of those surveyed are extremely interested in finding an external partner to help address the potential challenges and speed up the critical transition to home-enabled oncology care. One respondent said, “it is energizing to see the immediacy and the depth of the solutions offered.” Thirty-one percent cited the ability to reach the right patients at the right time using predictive analytics are a critical program element that partners can help to address. Twenty-six percent of respondents also cited a strong need for support with financial sustainability models through value-based contracting.
To learn more about the survey results or Reimagine Care, please visit www.reimaginecare.com.
About Reimagine Care
Reimagine Care provides technology-enabled services to support health systems and oncologists in delivering high-value, coordinated, home-centered cancer care. Please visit https://www.reimaginecare.com/ to learn more.