Healthcare in 2009 – Part One

Another new year is on our doorsteps, undoubtedly bringing with it challenges and exciting prospects for individuals and businesses alike. The healthcare industry is no exception to this and Freedom looks ahead to just two of the issues likely to be raised in 2009, according to PricewaterhouseCoopers' Health Research Institute.

Smaller pharmaceutical companies could boom this coming year, as the overall economic downturn has meant that production in large businesses has slowed down. These big companies, also known as Big Pharma (referring to those companies with revenues of over £2 billion, such as the British GlaxoSmithKline) will be increasingly relying on the takeover and mergers of smaller pharmaceuticals to bring innovation back into the drug development industry. This could be exciting news for private health insurance customers, because more new drugs could become available on the market as a result, and with NHS top-ups now available, private medical insurance policy holders could choose to take advantage of their cover by paying the difference for these more expensive new drugs.

Preventative treatments are also likely to get a boost in the New Year from a range of health care players including drug makers. Vaccines will be at the forefront of the market and new ones are likely to emerge, like the cervical cancer vaccine that began to be delivered to teenage girls earlier in 2008. Some of these brand new preventative healthcare measures may not immediately be offered by the NHS, so a quote for private medical insurance could posibly help to ensure full access to the treatments, as and when they become available.