Cancer and Oncology State-of-the-Industry
The supply and demand for oncologists was in a relative state of balance in 2005, but today more than half of currently active oncologists are over the age of 50. It is predicted that the industry will move to a state of acute shortage by 2020, with patient demand growing at a much quicker pace than the availability of practitioners. Demand for oncology services is expected to rise 48% between 2005 and 2020 (based on population aging and growth and improvements in cancer survival rates). Supply is expected to rise 14% (based on oncologists’ current age distribution and practice patterns).
Another challenge for the industry will be bringing together data generated out of basic research processes and data generated out of the clinical care processes.
Meanwhile, with healthcare consumerism on the rise, new opportunities are emerging to provide cancer care that addresses both quality and cost imperatives. This is good news for improving patient outcomes, but it broadens the scope of what physicians and specialists need to know and understand.
Personalized Hematology-Oncology of Wake Forest focuses on both the research and clinical treatment aspects of oncology. We are committed to advancing genome science, and we are available to consult with physicians to extend their capabilities and access to the latest science.
New Technologies & Market Trends
- Gene therapy
- Vaccine therapy/oral chemotherapy
- Molecular diagnostics
- Proton beam therapy
- Robotic surgery
- Shift from inpatient to outpatient/minimally invasive
- Reimbursement reductions for chemo drugs, drug administration and imaging
Opportunities for Oncology Practices
- Include core clinical services
- Incorporate complementary ancillary services
- Provide a quality-based infrastructure within integrated, competitive models
- Adopt personalized cancer care principles