Impact of digital transformation in healthcare

Health is a personal asset and the spectrum of care that will continue to grow from preventative, diagnostic, and treatment areas. Across the demand points of consumer, employers, and governments, the drive to optimize among the technology, industry, and full value chain will continue.

Strategic choices and thereby potential growth/value potentials for respective players in the industry will drive ongoing changes for profitability and outcome delivery.

The landscape of healthcare industry is shown below by approx. relative size on conceptual basis although country specific distribution will differ based on maturity of industry structure.

From the healthcare delivery perspective, the basic needs of the hospital are shown below. The primary source of human and financial capitals enables the capacity of service of diagnosis and treatment along with securing the aspects of operations and management of various executional processes.

The recent global event has accelerated the digital transformation of the healthcare industry. Various forces are acting to transform the industry as indicated below.

  • A winning healthcare organization must act to take advantage of this digital transformation opportunity with a focus on the following areas:
  • Innovate to improve outcomes for key stakeholders such as patients, insurers, and governments
  • Individualized focus on various revenue streams leading to revenue pools. This has to be matched with granular control of cost and profit streams traceability
  • A commitment and sustained innovation through:
  • Technology: Foundational technology, Analytics, Machine learning/artificial intelligence, Medical/clinical science
  • Innovative healthcare delivery models
  • Insurer's managed care models Manage the digital transformation process

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