SINGAPORE, July 30, 2018 /PRNewswire/ -- Globally, health systems are gravitating towards value-based care models whereby, each country is critically analyzingwhat the value drivers for its health system should be.
This was one of the key issues discussed at the recent Frost & Sullivan GIL Executive Briefing on the topic "Emerging Care Delivery Models in Asia-Pacific"
An informal audience poll showed technology remained relevant with 'Telehealth' named as a key necessity for emerging care delivery models, reflecting the market's inclination to bring in a change in the way healthcare is practiced today.
In the Asia-Pacific region, health systems, whether public or private, continue to struggle with wasteful and/or avoidable spending on duplicate diagnostics and medical procedures; resource constraints in terms of nurses, clinicians, specialists and hospital beds, and inefficient data management and exchange which creates gaps in patient understanding and quality of care. These challenges further aggravate the problems of rising healthcare spending, aging populations and increasing incidence of chronic and infectious diseases.
Transitioning from volume- to outcomes-based care has been a slow and painful process for Asia-Pacific (APAC) and as it requires dramatic changes in the regulatory framework and payment models; significant dollar investment in new technologies and workflows, and cultural and consumer behavior shift across all industry stakeholders.
According to Frost & Sullivan, the most notable disruptions in healthcare services over the next five years will be:
Virtual Care platforms are being utilized by hospitals and stand-alone service providers, creating a new type of competition in the market and enabling equity of healthcare service access and distribution. Encompassing Cloud-based platforms, Mobile platforms, Patient Support Call Centres and AI/Voice Assistants, adoption of these platforms has increased recently due to advances in telecommunications although the concept has been around since the 90s.
A connected ecosystem of sensors and devices on and around the individual including but not limited to body, home, community, in clinic and hospital, the concept of homecare/ubiquitious care is creating new ways of accessing the patient for hospitals, medical technology vendors and pharmaceuticals. Examples include Wearables, Home Medical Devices, and Ambulatory Therapies.
Preventative Health leverages predictive analytics to allow patients and consumers to manage their own health as and when they require it. This could include access to health insights or apps and devices that enable daily monitoring and incentivize healthy behaviours. This is likely to influence outcomes compared to traditional tools such as advertising or online search.
Population Health Management
A form of value-based care that shifts the industry focus from episodic, individualized healthcare approaches to collective action against the cost and burden of disease in a society, Population Health Management enables seamless information exchange and medical intervention at various points of care. However, a key challenge is that the building blocks for collecting data that achieves PHM are in place, workflows in this direction are yet to be instituted.
Guest speaker Dr. Samuel Chong, Chief Technology Officer at Fullerton Systems and Services spoke on the importance of aligning data systems with healthcare care delivery systems.
"I tell my data scientists not to come with pre-conceived notions of cutting costs. I tell them to look at hospital data with a blank mind and they come back to me after three days with a mind-blowing finding," he added.
Rathanesh Ramasundram, Principal Consultant, Transformational Health, Asia-Pacific at Frost & Sullivan said that emerging care models are focusing more on patient engagement, personalised care and efficient care.
"Patient-controlled data, generated from mobile apps, wearables, social media platforms and patient portals, is valuable for providers, pharmaceutical companies, and medical device manufacturers that are investing in services-based business models," she added.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Melissa TanCorporate Communications – Asia PacificP: +65 6890 0926F: +65 6890 0999E: email@example.com
View original content:http://www.prnewswire.com/news-releases/frost--sullivan-new-care-delivery-models-creating-innovative-disruptive-services-and-growth-opportunities-in-healthcare-industry-in-the-long-term-300688487.html
SOURCE Frost & Sullivan
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