Technology offers immense potential in Asia Pacific’s search for effective healthcare solutions. Justin Wang, Managing Director at L.E.K. Consulting based in China, discusses how healthcare businesses can administer technology-enabled remedies to alleviate industry pain points, from catering to rising public health needs, to tailoring service offerings for decentralized healthcare.
DarkArrow.svg
Healthcare INDUSTRY INSIGHTS: TENDING TO THE PAIN POINTS
img_21.svg
Healthcare IT is an area of significant opportunity, as Asian healthcare practitioners and patients continue on their fast track of “digitalization”, through the use of smart phones, mobile wallets, and innovative apps. Market participants are thinking beyond just using healthcare IT as a tool to enhance operational efficiency and communication with their customers – they are actively exploring ways to digitalize their products, and even into monetizing data and analytics. The tightening of cybersecurity laws in China and other Asian markets puts higher requirements on market participants in upgrading their systems, tightening protocols, and re-strategizing their infrastructure investments to comply with local regulations and further capture opportunities.
INDUSTRY PLAYERS THAT MONETIZE HEALTHCARE IT WILL STAY AHEAD OF COMPETITORS
1
Asia’s emerging market populations, with their increasing mobility and spending power, represent a significant business opportunity for healthcare companies. However, to capture this segment, healthcare companies need to continue to evolve their business models to better cater to people outside the major city centers, enabling them to deliver timely and affordable treatment to the broader markets. Business models that emphasize mobile health technology can empower populations where the central healthcare systems are concentrated and overloaded, but where smartphone penetration is high. Those that aim to enhance access to healthcare infrastructure for populations in less developed areas will also help solve this problem.
MOBILE HEALTHTECH WILL BE THE CENTRAL COMPONENT OF HEALTHCARE BUSINESS MODELS
2
Healthcare in Asia is gradually becoming decentralized. Reflecting this trend, China, which boasts one of the world’s largest medtech markets, is seeing investment into new tech, such as telemedicine, mobile health, and home care technologies. Asian pharmaceutical and medtech companies need to think about how to optimize their distribution channels to address retail pharmacies, reach online/mobile customers across geographies, and get products delivered more efficiently to patients. For businesses with crossjurisdictional footprints, staying abreast of changing regulations will also be a priority.
HEALTHCARE DECENTRALIZATION WILL REQUIRE BUSINESSES TO ADJUST OPERATIONAL STRUCTURES AND DISTRIBUTION CHANNELS
3
Back_to_top_arrow.svg
BM_logo_colour_retina_x2Open Menu Grey