Technological innovation continues to redefine healthcare
At Healthcare Europa we are always searching for changes in healthcare business models. Change can come from many sources. But the one route that is consistently shaking up this market is technological innovation.
From telehealth and point-of-care-testing (POCT) to mobile payments and biometric cards, technology is never far from the coalface in healthcare services. Its role in medical innovations is obvious. But the industry is also increasingly dependent on technology to disrupt existing business models and cut costs.
Take Laastari and Video Doktor, two Scandinavian telehealth services who have reduced overheads to an internet connection and capital expenditure to an iPad. Or Medicast in the US, which is supplying on-call doctors to patients through a mobile app. By revolutionising the way patients access their doctor, these companies are removing the need for physical premises and all associated expenditure.
The pattern is widespread and growing. Technology is facilitating the emergence of what has been termed the on-demand economy. Flexible labour enhances the ability for markets to match up consumers with service providers. As a historically labour intensive industry healthcare is ideally placed to take advantage. But the potential to disrupt existing businesses is huge. How will outpatient groups cope once patients can access medical professionals online?
The impact on public systems is another fascinating question. Arguably some are already more aligned to this model. In Germany, for example, appointments at a specialist are available without seeing a family doctor. But the potential for misuse is enormous and policy makers will be eager to know if it will increase or reduce costs. Efficiencies could easily be eclipsed by higher usage. And medical professionals may find it even easier to switch to private practice.
We would welcome your thoughts on this story. Email your views to Max Hotopf or call 0207 183 3779.
