The American Heart Association recently released a statement that it expects the costs to treat heart failure patients will more than double by 2030.
Highlights of the statement: "- Heart failure costs are projected to more than double in the next 20 years as the U.S. population ages and the incidence of the condition climbs.
- By 2030, every U.S. taxpayer could be paying $244 each year for heart failure expenses.
- Strategies to prevent and treat heart failure are needed to curb the rise in the incidence of heart failure."
While the projected figures are daunting, they are not surprising. The Centers for Medicare and Medicaid Services (CMS) and Congress have been very concerned about the growth in costs to treat this illness. Hence, AMI, heart failure and pneumonia are the first three indications to be subject to accountable care initiatives like Value Based Purchasing (VBP) and Hospital Readmission Reduction programs.
For those of us in the medical device industry, the cost projections provide opportunity to communicate the clinical and economic value of the products and technologies we provide. If you sell a technology that can somehow impact the costs of treating the heart failure population it's critical that you develop adequate targeted messaging that resonates clearly with your customers. Without targeted messaging that clearly defines your value proposition, you, your company, and your products will likely be considered just an additional expense to be either marginalized or commoditized out of existence.
Click here to read the full AHA statement.
