Healthcare Vital Signs

Industry incumbents and new disruptors are now vying to get and keep control of the consumer. These organizations believe enterprise-level strategies to own access, patient experience and pricing can unlock tremendous value for their constituents. For example, numerous hospital systems are partnering with or acquiring urgent care networks, traditional and new-entrant retailers are eyeing healthcare ventures, private equity firms are backing specialty physician groups and major pharmacies are buying health insurance companies. Responding to consumer preferences, legacy healthcare providers are undertaking several tactical initiatives. First, many of them are moving care closer to patients, offering urgent care, clinics, ambulatory surgery centres, and in some U.S. states, free-standing emergency departments or micro-hospitals in areas where patients live, rather than having every service located on or near the hospital campus. Centralized patient scheduling provided by health systems or large physician groups has also emerged as a key strategy for many. This service allows patients to call one number to find a referral to a specific kind of physician and book an appointment. The widespread adoption of electronic healthcare records helps facilitate such scheduling and gives care providers another tool to ensure patient care is coordinated throughout complex healthcare organizations. HOW IS THE INDUSTRY RESPONDING Digital health initiatives are also emerging as a new tool for both patients and healthcare providers to stay engaged with one another. While adoption in the U.S. has been slow, many European firms have developed useful approaches. For instance, in November 2017, the UK’s National Health Service awarded the first trial contract for a specific telehealth system based on hand-held technology in the UK Public Health system. The system, which is now operational, is known as ‘GP at hand.’ This is a 24/7 wearable technology that has massive operational and cost implications for patients, doctors, administrators and all those associated with the provision of healthcare. Experts expect that these types of tools will challenge the infrastructure surrounding healthcare delivery. While this initial trial centres on London, it is expected to migrate to major cities around the UK. The technology, powered by Babylon Health, relies on proprietary artificial intelligence developed in the private sector over the last few years. Babylon’s mission is to put an accessible and affordable health service in the hands of every person on Earth – bringing the burgeoning power of AI and best- in-class medical expertise together. For most teenagers, millennials or those living in remote areas, hand-held technology is often the best and/or preferred means of communication. The ability to access healthcare assessments, advice and even face-to-face appointments, similarly to how we access a range of social networks, are likely to become the norm and not the exception. Looking beyond consumers to healthcare providers, insurers and facilitators, handheld medical technology solutions have massive attraction, not least on economic and operational grounds. Indeed, technology platforms and companies with a global reach may well lead the charge toward a whole new approach to the delivery of medicine – from medications to expert advice and monitoring. 37 | CUSHMAN & WAKEFIELD