The Future of Health Care

The health industry is transforming into a dynamic environment. Practitioners, patients and other industry players are all set to gain.

Healthcare faces numerous issues that are likely to grow over the next few years. The population of the world is ageing and growing. By 2035, it will increase to almost 9 billion. The number of people suffering from chronic illnesses such as cancer, diabetes and Alzheimer’s disease are also rising as are the costs of treating for these diseases expected to exceed USD$47 trillion in 2030 (PDF). The delays in health care services funded by the state delay routine treatment, and in light of the worldwide shortage of healthcare professionals this is not likely that this issue will be resolved within the next few years.

Although newer medicines like GLP-1 medicines provide hope for treating various ailments, the price is currently prohibitive for the majority of people and a course of these medications for obesity in the US could cost a patient an average of $500 per month. The disparities in income as well as education can further increase health inequalities. In the meantime, customers and those who expect convenience and superior standards of service in their shopping experiences are setting higher standards for their own health care.

However, today’s challenges also offer the future’s possibilities. Imagine a world where customized treatments are available to everyone; where medication discovery, made possible by AI is quicker efficient, more efficient and less expensive than it is now as healthcare technology platforms and technologies work together to make health care and procedures more digitally facilitated and therefore more accessible to all as smart personal electronic devices can detect early warning signs of a growing number of illnesses; and where wearable technology and advancements in medical devices permit immediate AI powered diagnosis.

As with all other aspects of the industrial environment healthcare is being redesigned in response to key megatrends like climate change, technological disruption, shifts in demographics as well as a fractured world as well as social unrest. These megatrends are long-term in nature, yet their impact is evident in the present. Business leaders need to confront a mix of ever-changing immediate crises, and simultaneously think about how their organizations can adjust to the effects of megatrends to grow and prosper.

The shifts triggered by megatrends are manifesting themselves in six key human activities which include how we construct movement, manufacture, and power, as well as the way we eat and take care of ourselves. In healthcare, just like every other area, a new ecosystem is developing. The care system of the future will look quite different from the current healthcare sector, as it develops to integrate traditional and non-traditional players working and innovating as they envision as they enable and provide healthcare interventions.

A huge shift in value — or in the words of experts”value in motion” — will be generated in this healthcare system. Value pools that are completely new will be created which will put the patients at its center. Other value pools that are currently small may grow into huge ones, and certain ones will vanish completely. Start-ups and incumbents, large and small companies including private and public corporations and regulators will enter the ecosystem with a broad variety of traditional sectors that span both the real and financial markets. The health sector will transform into a bigger and more varied network capable of meeting the demands of consumers and dealing with increasing costs and increasing consumer expectations.

Industry players have begun to work towards this goal but there is still much to be completed. Leaders have the ability to tackle the problems they face and make the most of the numerous opportunities that are available by changing their only a narrow view of their own value chain of the past to embrace the wider ecosystem.

Four reconfigurations

We believe that the world’s health care system will be reorganized around four main characteristics in the next decade. This will become more proactive and address diseases risk factors earlier to prevent deteriorating conditions, and help people live longer. This will also be individual as healthcare shifts away from a one-size-fits-all model to one that is tailored to each individual particular requirements.

Healthcare will become more predictive and proactive, making use of advanced technology to move from being reactive to intervening before problems become crucial. It will also be more focused on the goal of care and will change how, where and who care is offered, with areas like remote surgery, telehealth and physical community-based healthcare facilities expected to see a rapid expansion.

Preventative care

Concentrating on risk factors for disease and promoting self-directed, healthy living and wellbeing can decrease the need for medical attention. When leaders focus on prevention and wellness, the overall health of the populace is improved, which reduces the burden on the healthcare system.

In the UK the voluntary-led Our Future Health programmed uses genetic data to design solutions that focus on preventing diseases. It’s financed by a combination of grants from the government and investments from life science firms and health research organizations, and as well as providing financial assistance, all parties that provide financial backing are providing their expertise and skills to assist in the creation of more effective methods to prevent disease and treatment.

In Malaysia the non-profit organization Better Health Programmed has developed an app for digital health, My BHP (PDF) (file size: 1.1 MB), designed to improve the capability to fight non-communicable disease by a healthy diet and weight reduction. The app has recruited local food retailers and outlets to participate in an effort to reduce obesity and also serves as a marketing platform for healthy food items.

Individualised care

Individualised care can provide significant improvements in health through more thorough and balanced assessment of treatments. When considering the genetic makeup of the patient as well as other factors that contribute to it, like lifestyle and the environment, personalised treatments are able to address the patient’s unique needs and preferences.

This approach allows more precise diagnosis and the recognition of any abnormalities that require treatment, which could be more difficult to spot, and efficient interventions, and possibly a decrease in costs. In Dubai meta[bilic], a therapy company, incorporates information into the Glucaric healthcare platform collected via its Our bandage that is worn that monitors a variety of indicators, such as metabolic activity and heart health. Continuous monitoring is used to avoid complications and detect the earliest signs of illness before they become worse.

Predictive and proactive health

Healthcare institutions must leverage information and technology in order to take an earlier and more proactive approach to health care. This could allow them to take care of patients at a younger stage, before illnesses or other health issues become a problem. This will assist in improving health outcomes for patients and reduce the burden on healthcare and enhance the quality of care.

There are numerous ways through how proactive care is assisted. For instance data analytics and testing will reveal health problems earlier, allowing for faster interventions. Zoe Health, a program for health which operates in both the UK as well as the US offers consumers kit for home testing that includes the ability to monitor blood glucose levels and examine which foods can cause spikes in blood sugar. This aids Zoe clients make healthier choices in their food choices that improve gut microbiome health.

The users will be able take control of their health using subscription-based health management systems where healthcare providers oversee and maintain the health of a person. In the US 1upHealth’s cloud-based platform has helped improve the quality of care for patients through effective access to health data to provide an efficient and proactive healthcare. It accomplishes this by providing sharing of data between payers, providers as well as health tech companies and life science companies as well as claims information.

Point of care

The shift of care to locations which are more convenient and accessible for patients alters the nature of the delivery of care. This includes the utilization of community-based services, telehealth and remote surgery. These could result in substantial savings, while also improving patient care and efficient.

Kaiser Permanente aims to bring customers convenience by offering healthcare services in Target Clinics in California, where patients can fill prescriptions at the nearby CVS pharmacies inside these Target Clinics. Kaiser Permanente’s expertise in offering innovative solutions to healthcare has led to it create a venture fund to help other providers that could be able to help drive further innovations.

Critical enablers

Many crucial enablers are required to remove the various obstacles and enable the re-configuration of the care environment. It is crucial for organizations to understand how they can use these levers to speed up the pace of change.

Workforce

The future of healthcare requires a new method of attracting and keeping health professionals. Employers should concentrate on establishing new models of employment that reward and inspire the employees. Training staff can be equally motivating. Health professionals are given the ability to apply new technology skills and broaden their knowledge base. This is crucial for a modern healthcare system.

Technology and AI

Technology plays a major role in enhancing the health outcomes. Information gathered from sensors and wearables has led to better prevention of disease and management. Monitors for blood glucose, which were once an exclusive solution they are now a mainstream product. The advancements in technology help patients with greater information and tools to the self-guided management of their medical condition. Technology is also helping facilitate remote consultations as well as remote surgery.

AI applications are used throughout the value chain in order to enhance healthcare teams. For the office front, AI can be used in clinical settings to identify patients who are at risk of being a part of the care team so that they are monitored more closely. AI can also be used to enhance the quality of data through coded data, which allows for more precise diagnosis of ailments like delirium. AI Scribes, which can automate transcription of doctors’ notes, could ease the back office burden placed on healthcare teams.

Data and insights

Sharing data is essential to generate greater health-related insights. Due to the sensitive nature of data from patients sharing, it is essential to facilitate the process by the establishment of strong security and data regulation to protect privacy and ensure security. In addition, companies and individuals should be urged and rewarded for sharing information about health. Health professionals must also use data to make better prediction and planning, and also use it to create new ideas.

Regulation and planning

Regulations must evolve from being confined to specific countries to be more global to take into account the possibility of delivery of more trans-border healthcare services.

Incentives and financing

The move to new models of healthcare which focus on earlier intervention, personalized treatments integrated care, and community-based models will place a new emphasis on the funding system, which will result in difficult decisions regarding how funds are distributed.

Life science and pharmaceutical businesses will need to be rewarded for their efforts to change their strategies to fit the new model of care to ensure they can ensure their models of business stay viable, whether these incentives come in the form grants or subsidy for preventative medicines. All players in the healthcare ecosystem must understand the benefits of a change in care for everyone involved in healthcare over the long run.

Consumer empowerment

The empowerment of consumers is the key for the health system’s future. This involves providing patients with the knowledge, tools as well as the agency and knowledge they require to make informed choices regarding their health. Education for patients also plays a part in highlighting the importance of proactive and preventative treatment and in encouraging healthier behavior.

Making sure that the proper utilization of health information and technology that supports self-monitoring could further ease the burden of healthcare with strategies like virtual ward scenarios that enable patients to receive hospital treatment at home. Wearable technology can further empower individuals with access to and ownership of their personal health information.

Making preparations

To participate in and benefit from the ever-changing healthcare environment, it’s essential to start working now. Everyone involved who will be involved in healthcare’s future must have a clear understanding of the way in which the healthcare ecosystem will develop like. This should include establishing the ways and places where value can be generated or lost.

Players must decide on what they would like to contribute to the ecosystems they are part of in light of their current and potential capabilities. Reinvention of business models is required to shape and redefine the company’s position to be successful within the newly reconfigured ecosystems that healthcare providers have designed. Additionally, healthcare players must actively engage other stakeholders to the various ecosystems they reside in by establishing new or improved partnerships with third parties and collaborative models to assist them in achieving successful outcomes.