Why IDM will matter to patients
Recently Diabetic Investor has spent a fair amount of time covering the growing number of companies who are seeking to capitalize on the coming of interconnected diabetes management (IDM). We have consistently stated that for all their way cool whiz bang technology it’s patient outcomes that matter and all that matters. We have also noted that the old guard isn’t built for the coming changes to diabetes management and how systems are reimbursed. That’s it just a matter of time before the four remaining branded players no longer exist as we know them today.
We’re also curious which of the many newcomers to this space will actually survive, which approach will be the pathway to better outcomes. As we have stated before we have no idea who the winners or losers will be about all we know is that these companies and others will continue to attract capital. What many seem to forget it’s not just payors and employers who want better outcomes. That it’s not just payors and employers who will save millions when patients with diabetes achieve better outcomes.
No in the future patients will also save money using IDM. Looking ahead Diabetic Investor sees patients buying health insurance like they do auto insurance today. That technology will make it possible for insurers to not just track patients but reward them with lower premium payments or co-payments for better outcomes. This isn’t as far-fetched as some may think as this is exactly what auto insurers are doing today. Drivers who are willing to attach a monitoring device to their car not just receive an upfront discount but continual discounts based on how they drive. Where it is written that health insurers using IDM cannot follow the same path.
This is why Diabetic Investor sees high-tech companies like Apple, Google, Samsung and Facebook continuing their diabetes initiatives. They know when outcomes really matter that consumers will seek out and pay for the most user-friendly simplest systems that will help them save money. This is also why companies like iHealth, TelCare, Livongo and OneDrop have a future.
The fact is IDM is very real but it is very raw. Quite frankly IDM isn’t about technology the technology is ready to go. What will transform IDM is money who makes it, who spends it and who saves it.