Healthcare Technology global trends


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Global Trends in Healthcare Technology with focus on US and India

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Healthcare Technology global trends

  1. 1. Overview of TechnologyInnovation Trends inHealthcareFocus on US and IndiaJagmeet LambaEmail: jlamba@gmail.comTwitter: @jlambaJanuary, 2012
  2. 2. Continuing technology advancements have created the “infrastructure” to solve major healthcare pain points Major Pain Points Enabling Technology Infrastructure •  High cost of care straining US • Wireless Internet becoming ubiquitous: economy: - 56% of US population on 3G5 - 17.6% of US GDP1 - By 2015, India is expected to have 450M internet users, with ~60% on mobile6, - 25% of all US federal outlays1 driven by rollout of 3G and 4G wireless internet •  Low correlation between • Decreasing cost of computing and connected devices: spend & quality: In spite of high per capita spend on - in 2008, connected devices overtook world’s population7 HealthCare, US is ranked 37th - 20B connected devices worldwide by 2020 with 5B in China alone7 by the WHO • Data analytics and Artificial Intelligence (AI) proven in real world: •  Low availability: - E.g., IBM Watson’s Jeopardy win, 23andMe’s personal genomics analyzer •  Health care in India grossly inadequate to meet the growing • Social media creating a “friends layer” for the Internet: demand: - 800M Facebook users worldwide8 - 60 doctors per 100,000 people in India vs. 142 in - 85% of Internet users in India use social networking8 China and 256 in US2 • Smartphones replacing features phones: - Number of diabetic patients in - In 2010, smartphone shipments > feature phone shipments in Western Europe India more than doubled from and US9 19M in 1995 to 50M in 20103 •  Aging population straining US • Design orientation /consumerization of technology medical system with projected - E.g.,’s user friendly financial analytics , FitBit pedometer’s motivating deficit of 35–44K primary care leaf indicator vs. a number display doctors expected by 202541 US center for Medicare and Medicaid Services (CMS), office of the actuary 5 United Nations International Telecommunications Union2 World Resources Institute ( 3 International Diabetes Federation, 2009 6 McKinsey digital consumer survey, McKinsey Quarterly (Feb 2011) | 14 American College of Physicians, M. Renee Zerehi 7 GSMA, in partnership with Machina Research 8 Comscore 9 Morgan Stanley Research
  3. 3. Innovation trends: Driven by enabling infrastructure & compelling needTop innovation trends Description Example companies1 •  Measuring and tracking body’s stats Connected health (e.g., BP, temperature, heart rate, technologies blood glucose, sleep patterns) automatically via connected devices2 •  Delivering healthcare thorough Technology enabled Internet video /audio aided by healthcare delivery connected health devices usually disintermediating the insurance cos.3 •  Gaining information and support from Social media aided care peers (e.g., similar patients) or & support experts (e.g., doctors) through specialized online social networks4 •  Analyzing large sets of data to Data, informatics & AI achieve personalized care, understand relative cost /benefit of treatments and reduce cost of care5 •  Reducing the cost of care by utilizing Frugal innovation consumer technologies6 •  Rewarding proactive preventive care Rewarding prevention which is often measured through connected health technologies7 •  Enabling better utilization of Improving utilization / healthcare resources by making processes information easily accessible online | 2
  4. 4. Continuing progress likely to cause a tectonic shift in global healthcareindustry Significantly reduced cost & improved accessibility with higher Phases of healthcare technology evolution quality Pre- 2020 internet 2000 - 08 2008 - 15 2015 - 20 onwards Rich siloed AI Patients Bionic tools1 Complete data algorithms accessing aided reliance on assisting provide healthcare personalized doctors care / “first info. online medicine prevention opinions”First •  Doctor + •  Basic decision + •  Online with + •  Doctor aided by •  AI tools withoutopinion support systems Doctor generic bionic doctor •  Generic internet •  Advanced tools research decision support •  AI tools (e.g., systems skin scan)Second •  Doctor •  Search medical •  Doctor with rich •  Doctor with •  Doctor with + + + +opinion •  Medical journals empirical data personalized personalized journals treatment info bionic toolsData •  Symptoms, + •  Electronic + •  Connected + •  Consolidated + •  Analyzed •  Physical medical records medical devices medical + medical + examination •  Genomics and connected connected •  Paper medical proteomics health devices + health devices + history at genomics & genomics & facility proteomics proteomicsProcess •  Manual + •  ePrescriptions + •  eAppointments + •  Automatic + •  Automaticoptimiz- •  Online notifications / recommend-ation collaboration alerts ations1 Tools that augment and amplify human understanding | 3