Digital Transformation—Spotlight on the Hospital: Jonathan Melnick, Lux Research (Digital Health Summit @ CES 2017)
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Digital transformation is coming to healthcare as major tech companies invest heavily in digital health. While disruption happens quickly in other industries, healthcare change will be slower due to its complexity. However, automotive examples show electronics will comprise over 50% of vehicle costs. This will open the supply chain and accelerate innovation. A digital hospital would be organized by data and analytics rather than medical specialties. Predictive analytics could link previously separate conditions. Behavior augmentation solutions would be common. Monitoring of things like fertility and seizures would be core capabilities. Data-driven healthcare will challenge providers' competencies and how expertise and data share profits.
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Digital Transformation—Spotlight on the Hospital: Jonathan Melnick, Lux Research (Digital Health Summit @ CES 2017)
- 1. DigitalTransformation—Spotlight on the Hospital Jon Melnick, Ph.D. Senior Analyst January 7, 2017
- 3. Agenda Digital disruption comes to an industry near you Digital pushes traditional care past existing practices Restructuring the digital hospital 3
- 4. Electronics giants are betting big on Digital Health and Wellness 4 “GoogleVentures Shifts Focus to Health Care” WSJ Dec 2014 The venture group plans to continue investing in the area, looking to capitalize on an explosion of health data and new ways to analyze it. - Bill Maris, head of GoogleVentures “Google Bets on Health: 'The MostYou Can Lose Is AllYour Money'” Bloomberg Feb 2016 • Health care became GV’s largest investment category in 2014, topping consumer, data and artificial intelligence, enterprise and robotics. In 2013, only 6 percent of GV’s investments were in health care.That jumped to 34 percent in 2014 and 31 percent in 2015. Apple Goes Big on Digital Health, Acquires Gliimpse [personal health data platform that enables any American to collect, personalize, and share a picture of their health data] ETF Daily August 2016 “Aetna and Apple collaborate on digital health and wellness for employers” Internal Health Management September 2016
- 5. 5 Electronics disruption happens fast, but not in healthcare Timeframe: 2-5 years to lock in 30+ years of dominance
- 6. 6 Electronics disruption happens fast, but not in healthcare Timeframe: 2-5 years to lock in 30+ years of dominance Source: Commonwealthfund.org
- 7. Automotive shows what is coming to healthcare 7 “We take steel, raw steel, and turn it into car.They have no idea what they’re getting into if they[ Apple] get into that.” formerGM CEO Dan Akerson February 2015 1% 3% 4% 10% 15% 20% 30% 35% 50% 0% 10% 20% 30% 40% 50% 60% Electronics and software as percent of total car cost Apple CarPlay AppleTitan
- 8. The new automotive supply chain will be blown wide open, and innovation is decoupled, and accelerated 8 Tier 1 supplier Tier 2 supplier Tiers 3-5 Raw materials Electronics Components Foundries Raw materials OEM (Automaker) ODM (Device maker) New car models every 4-7 years New car electronics hardware every 1 year New car software every 1 month
- 9. Diamler is more concerned about Apple’s moves than GM 9 “We take steel, raw steel, and turn it into car.They have no idea what they’re getting into if they get into that.” formerGM CEO Dan Akerson February 2015 “What is important for us is that the brain of the car, the operating system, is not iOS orAndroid or someone else but it’s our brain,” “We do not plan to become the Foxconn ofApple,” Diamler CEO Dieter Zetsche September 205
- 10. Agenda Digital disruption comes to an industry near you Digital pushes traditional care past existing practices Restructuring the digital hospital 10
- 11. 19th century technology is the basis for today’s hospital structure Physiological specialties define today’s hospital Modern hospitals began in 18th century Department specialization (and organization) started in the 19th century When does care become about data and analysis as opposed to doctor’s specialty? Cardiology Ear, nose, and throat Dermatology Gastroenterology Ophthalmology Psychiatry Endocrinology Neurology Pulmonology 11
- 12. Digital threatens to transform every conceivable arena 12 Exam Decision-making Location Source: Lux Research Arena Hospitals Data security Data storage
- 13. Digital threatens to transform every conceivable arena 13 Past Exam Decision-making Location Cybersecurity Centralized repository Doctor Centralized 20th Century Source: Lux Research Arena Hospitals Data security Data storage Qualitative symptoms
- 14. Digital threatens to transform every conceivable arena 14 Past Future Exam Decision-making Location Cybersecurity IoT Security Centralized repository Blockchain Data Doctor AI Centralized Distributed 20th Century 21st Century Source: Lux Research Arena Hospitals Data security Data storage Qualitative symptoms
- 15. Agenda Digital disruption comes to an industry near you Digital pushes traditional care past existing practices Restructuring the digital hospital 15
- 16. Gastroenterology A “digital” hospital is organized differently Cardiology Ear, nose, and throat Dermatology Gastroenterology Ophthalmology Psychiatry Endocrinology Neurology Cardiovascular disease Skin cancer Diarrhoeal disease Visual impairment and blindness Epilepsy Depression Asthma Lung cancer Parkinson’s disease Diabetes Infertility PulmonologyDeafness and hearing loss Data-driven hospital departments: Monitoring Diagnostics Predictive analytics Therapeutics Assistive technology Behavior augmentation D PA T AT BA M 16
- 17. Predictive analytics connections link previously disconnected conditions Cardiovascular disease Skin cancer Diarrhoeal disease Visual impairment and blindness Epilepsy Depression Asthma Lung cancer Parkinson’s disease Diabetes Infertility Episodic condition Predictive Analytics Deafness and hearing loss Prediction based on environmental factors 17
- 18. Behavior augmentation solutions are most common Monitoring Diagnostics Predictive analytics Therapeutics Assistive technology Behavior augmentation Cardiovascular disease Skin cancer Diarrhoeal disease Visual impairment and blindness Epilepsy Depression Asthma Lung cancer Parkinson’s disease Diabetes Infertility Deafness and hearing loss 18
- 19. Monitoring-Temperature sensing becomes a core capability Fertility tracking Breast cancer screening Epileptic seizure predictionChildhood development 19
- 20. Takeaways 20 Intervention Referrals Appointments Symptoms Prevention Assistive/ Treatment Prediction Monitoring/ Diagnostics Healthcare Electronics Data-driven healthcare will upset quality of care and the patient experience, forcing existing providers to compete in ways far outside of core competencies There will be room for both data and medical expertise, but how quickly does each evolve, how do they share profits?
- 21. Thank you Lux Research Inc 100 Franklin St. 8th Floor Boston, MA 02110 Jon Melnick, Ph.D. Senior Analyst jonathan.melnick@luxresearchinc.com
Editor's Notes
- Helps clients find new business opportunities from emerging technologies in physical and life sciences Offers ongoing technology and market intelligence, as well as market data and consulting services Over 250 clients on six continents – multinational corporations, investors, governments, and SMEs Global reach, with offices in Boston, New York, Amsterdam, Singapore, and Tokyo Combines deep technical expertise with business analysis to support strategic decisions (“scientists & engineers with business experience; strategic advice”)