Foresight and collaboration key to take healthcare infrastructure into the future
Healthcare in 2065: A Deloitte report
Singapore, 3 December 2015 — As the healthcare industry evolves, we will see patients behaving more like consumers and technological advancement in the healthcare space empowering them to take full ownership of their health data and choose the manner of care best suited to them. These are just some of the many insights from a new report put together by the Deloitte Southeast Asia Future Healthcare Centre of Excellence, titled Healthcare in 2065.
The report discusses what the healthcare landscape will be like in 50 years and delves into the potential evolution and changes of the healthcare industry. It envisions a future whereby healthcare is personalised and designed around the individual, and also posits that the future convergence of technologies will form the basis of a medicalized, quantified self which will shift business models of healthcare from one of episodic illness events to a subscribed and evolved continuous wellness approach.
With the view that the future of healthcare rests on a decentralized and disseminated data model, collaboration is key between the different players to ensure a fully integrated and seamlessly coordinated experience for the patient consumer.
“The creation of the future healthcare model is not solely a technology play, but also a logical value innovation response to the issue of ever rising healthcare cost and tight manpower constraints arising from the pursuit of a traditional acute care model,” says Dr Yong Chern Chet, Healthcare Sector Leader Deloitte Southeast Asia.
“Healthcare industry players need to pay heed to the development of the megatrends and sense the directional change of winds to be always one step ahead in the game, or better yet, transit smoothly from the ‘old’ to the ‘new’,” adds Dr Yong.
Other insights and features in the report include:
- Patient centred healthcare: Everything from diagnosis, drugs to devices will be custom designed to seamlessly integrate into a patient’s daily life.
- Wearables at the forefront: Always and constantly collecting data, these peripherals are the basis of the medicalized quantified self.
- Digitised and decentralized doctors: Improved connectivity and miniaturized diagnostic technology means accessibility and convenience for future medical consultations.
- Rise of the machines: Medical robots and artificial intelligence create more efficient healthcare platforms that are powered by the insights of data analytics.
- Evolved healthcare provision: Services will now be consumed continuously lending itself to a subscription based business model that focuses on high productivity and asset light strategies.
To read more of the “Healthcare in 2065” report, please click here.
A meeting of minds at Deloitte’s inaugural future healthcare industry event
In line with the vision of future healthcare, Deloitte Southeast Asia held its inaugural future healthcare industry event – Blue Strands – in Singapore last week. This event brought together different stakeholders within the HealthTech sector, giving them a chance to find out, beyond their own expertise, the landscape of the industry and other innovations in the sector, particularly in Asia where the industry is in different stages of development. This event also provided a platform for industry players to start conversations and birth collaboration to take healthcare into the future.
A highlight of the event was a panel discussion between representatives from LumenLab, MyDoc, SMS Asia, NUHS – a good mix of an SME, an MNC, a venture capitalist and a clinician, who provided different perspectives of the industry, citing that collaboration across all stakeholders is important, and that traditional healthcare models need to adapt to the technology disruption that the industry is seeing to remain relevant and competitive.
“HealthTech innovation is disrupting healthcare and its established players, with technology driving a new paradigm to create better healthcare. This creates opportunities, particularly in Asia in the countries with developing healthcare industries, were players can leapfrog their healthcare infrastructure limitations. In countries with more developed healthcare systems like Singapore, there is also opportunity to create value in the region, says Julien de Salaberry of The Propell Group in his presentation at the event, “I look forward to collaborations born out of this event as the health tech momentum in Asia continues to build.”
At the event, Dr Yong used 5Ds to sum up future healthcare – Data, Design, Delivery, Droids and Destiny. These refer to the important part that healthcare data and analytics plays in forming the foundation of a future wellness and healthcare model. They also highlight the likelihood of a systemic redesign for healthcare to better serve evolving needs, the creation of new healthcare supply chain and health delivery models, the increasing role of AI, smart algorithms and robotics in clinical practice and lastly, the beginnings of the ability to intervene and alter the course of natural disease progression via personalized medicine with the use of personalized therapies (genomics) and regenerative medicine.