The Rise and Challenges of Home Infusion Therapy and the EV Takeover

Ben H.

Hatched by Ben H.

Jul 18, 2023

4 min read

0

The Rise and Challenges of Home Infusion Therapy and the EV Takeover

Introduction:

The rise of home infusion therapy and the increasing popularity of electric vehicles (EVs) have brought about several questions and challenges. While home infusion therapy offers convenience and potential cost savings, concerns about safety and reimbursement gaps have emerged. On the other hand, the EV takeover faces obstacles such as limited charging infrastructure and cyber-security vulnerabilities. This article will explore these two topics and shed light on the complexities and opportunities they present.

Home Infusion Therapy:

Home infusion therapy has witnessed significant growth due to patient demand, the availability of specialty drugs, and workforce shortages. By administering prescription drugs intravenously in a home setting, health systems and specialty companies can avoid overhead fees and allocate clinical space more efficiently. Additionally, payers highlight potential savings. However, as the practice expands, cost and safety considerations are being raised. With approximately 900 providers and 1,500 pharmacies offering home and specialty infusion therapy to 3.2 million patients annually, ensuring proper reimbursement and addressing safety concerns becomes crucial.

Reimbursement challenges pose complications, as Medicare per-diem rates may not account for the rising cost of drugs and equipment. This puts pressure on the home infusion industry to cover all service and delivery costs, running a cleanroom facility, and providing necessary supplies. Moreover, quality reporting initiatives like those from The Centers for Medicare and Medicaid Services and the Leapfrog Group do not include data from home infusions. Nonetheless, research suggests increased safety benefits, such as better treatment compliance, reduced risk of infection, and improved infusion monitoring. Exploring a mail-order pharmacy model for specialty home infusion drugs could expand accessibility if safety and regulatory concerns are adequately addressed.

The Potential of Home Infusion Therapy:

Home infusion therapy has the potential to extend beyond chronic disease treatments into post-acute care services. Insurers, consulting agencies, and tech companies recognize the attractiveness of this market but must have a comprehensive understanding of the industry to succeed. The evolving definition of providers and payment policies offers opportunities for disruptor companies to enter the space. However, navigating the complexities of the business and ensuring patient safety will be crucial for their success.

The EV Takeover:

While the Biden administration has set ambitious targets for EV adoption, the current scale of the challenges is immense. With EVs accounting for only 1% of all vehicles in the U.S., according to the Energy Department, significant efforts are needed to achieve the proposed goals. The administration aims for two out of every three personal vehicles sold by 2032 to be electric. To support this transition, the administration has committed $7.5 billion to increase the number of charging stations across the country.

However, the expansion of charging infrastructure faces skepticism, particularly in state governments. Critics argue that the goal of having charging stations every 50 miles on U.S. highways is unrealistic. Nevertheless, private enterprise sees potential in capitalizing on the time drivers spend recharging. General Motors and Pilot, for example, have partnered to add 2,000 fast-charging stalls to select locations, allowing drivers to spend money on food and other amenities while they wait.

Another challenge for the EV industry is cyber-security vulnerability. Similar to computers and smartphones, EVs can experience software problems that may expose them to potential hacking and cyber-attacks. Addressing these security concerns is crucial to ensure the safety and trust of EV users.

Actionable Advice:

  • 1. For the home infusion industry, it is essential to advocate for fair reimbursement rates that account for the rising costs of drugs, equipment, and services. Collaboration with payers and policymakers can help address these challenges effectively.
  • 2. Employing technology and innovative solutions to enhance the safety and monitoring of home infusion therapy can improve patient outcomes and reduce the risk of infections. Investing in proper training for clinicians and patients can also contribute to better treatment compliance.
  • 3. In the EV sector, collaboration between government entities, private enterprises, and charging infrastructure providers is crucial to accelerate the expansion of charging stations. Exploring creative partnerships, such as the collaboration between General Motors and Pilot, can help overcome the challenges associated with charging infrastructure.

Conclusion:

The rise of home infusion therapy and the EV takeover present unique opportunities and challenges. Ensuring patient safety, addressing reimbursement gaps, expanding charging infrastructure, and mitigating cyber-security vulnerabilities are critical for the success of these industries. By advocating for fair reimbursement, embracing technological advancements, and fostering collaboration, both sectors can overcome obstacles and provide better healthcare and transportation solutions for the future.

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