Updated on 20 February 2014
Healthcare need to revive business process: Frost & Sullivan
Singapore: Globally, the healthcare industry is in a state of accelerated evolution due to changing demographics and various market forces. These are giving rise to disruptions in the traditional industry value-chain resulting in the transformation and collapse of traditional healthcare systems, highlights Frost and Sullivan.
The balance of consumers has shifted; with public healthcare prioritised for those with greater need, necessitating a focus on cost efficient healthcare delivery through shared responsibility across the value chain. The significant increase in aging populations increases old-age dependency ratios, especially in industrialised countries like Australia, Japan and Singapore, and translates into a higher demand for surgical interventions as well as aging-in-place supportive care. These countries are seeing a transition in healthcare infrastructure towards day or ambulatory surgery, as well as home healthcare. Emerging markets in Asia have been been slower to adopt this as healthcare is still very much treatment oriented and hospital focused.
Australia's healthcare industry is hugely affected by the political climate as potential regulatory changes significantly influence access and affordability of care. The industry is constantly battling to build on healthcare delivery value, employment generation and infrastructure development. Increasing patient population, budget constraints and a shortage of resources supporting healthcare delivery are impacting the medical world. In Australia, efficiency is vital in hospital management and delivery of healthcare services.
Ms. Rhenu Bhuller, Senior Vice President, Healthcare Practice, commented that the integration of care delivery is a key concern across the healthcare delivery landscape. Transitioning and ensuring seamless care across primary and tertiary centres and holistic healthcare management is challenging. A well-established primary and aged care infrastructure has to increase accessibility for patients. "This is changing the way hospitals review their operations, structure, roles, activities as well as their key measurements. Traditional operating models are no longer relevant in today's healthcare environment and healthcare service providers need to focus on areas where they have expertise and can create efficiency and value based care."
Ms. Bhuller added, "Healthcare service providers can move across the value chain through partnerships, collaborations or acquisitions in order to provide end to end services, consisting not only of treatment, but financing, pharmacy and lab services as well as follow on home care that will enable them to ensure resources are used effectively and for maximum benefit."