Emerging Healthcare Ecosystems: A Trend No Medical Organization can Afford to Ignore
Technology is changing Healthcare in many fundamental ways, and both are very likely to become bedfellows in unimaginable ways. Software platforms will create new Channels and Markets for care delivery. The contribution of digital is much more significant as it has the capacity to integrate many stakeholders in the care value-chain and create new ecosystems in which these players can co-create new value with better products and services. These new pockets of value can make a large impact on competition and thus, each care organization must be mindful of the direction of the developments taking place.
Post-Pandemic Change May Surprise Many
Hitherto, the innovations in healthcare have focused elaborately on reducing the cost and increasing the productivity, but the results have been uninspiring vis-a-vis other industries.
The data clearly shows that labor productivity rise has been much behind other industries. New players such as diagnostic laboratory chains, retail health clinics, and dialysis companies have redesigned their business models to innovate and compete with hospitals.
Research estimates a possibility of improvement in healthcare that is over US$ 500 bn, and reduces the growth rate of expenditure by a massive 30%; innovations can thus benefit every party.
Some Recommended Business Model Innovations and tools:
• Ambulatory Surgery Centers (ASCs) have ramped up productivity at lower capex and reduced costs to half.
• Walmart Model: Providers can also indulge in innovation by leveraging technology as done by Narayana Health System, India. Its “Walmart” like approach leverages technology to boost efficiency with automated schedules and optimized operations that resulted in one-third the price of other hospitals.
• Digitization: Payor or insurance companies can remarkably benefit from digitization that can not only save their cost of acquisition but also reduce operating cost by over 20%. But companies must be aware of the full process of Digital Transformation while they even attempt to digitize part of operations.
• Here is our comprehensive DX framework
The above comprehensive platform is applicable to every industry with thoughtful emphasis on each step.
Techment’s DX Model and Opportunity to Create New Ecosystems
The step-by-step process has been designed to ensure the success of DX effort. While on the journey of DX, organizations have to craft their visions in such a way that they are not only able to adapt to new ecosystems, but are also able to create new ones themselves and stay ahead of the curve.
There are many more radical shifts happening in healthcare today. Please get you access to our white paper — Digital Acceleration in Healthcare: 12 Mega-Trends Driving its Giant Leap.