A new health economy is coming. In this reshaped sector, emerging technologies, an ability to cure, prevent and detect disease earlier along with highly engaged consumers focused on wellness will lead to a deceleration in health spending. By 2040, these trends could deliver a $3.5 trillion “wellness dividend” to the nation’s economy, according to “Breaking the Cost Curve,” a recent Deloitte report.
That’s the difference between health care spending projections from the Centers for Medicare & Medicaid Services and what Deloitte’s actuarial team forecasts in 2040. The contrasts between today’s health care economy and the one in 2040 will be striking, the report notes.
While about 80% of 2019 health spending went toward care and treatment, about 60% of spending will go toward improving health and well-being by 2040, Deloitte leaders believe. Fueling this shift will be new-generation well-being activities that will enable consumers to better monitor their health through technologies that can sense early signs of disease in asymptomatic people and address drivers of health. In addition, there will be better collaboration among physicians and payers and increased attention on keeping patients well. The report also highlights how care settings, the ways care is financed and drug therapies are delivered and administered may change.