Digital transformation in healthcare
IMD recently organized a discovery event which brought together a number of executives from the health sector to focus on digital transformation in healthcare. The healthcare sector is experiencing a huge number of digital innovations both from start-ups and existing players. It is witnessing initiatives like pharmaceutical companies going “beyond the pill”, wearable companies, including Apple, entering the market, hospitals using big data for better treatment, medical device companies using predicting surgical operations and pharmaceutical retailers delivering customized and patient-centric services on a massive scale.
The participants at the event discussed how the commercial success of these innovations is dependent not only on improving patient health, but also on the need to reduce costs and the interest of the players on a relatively conservative ecosystem. They talked about how e-health needs to be patient-centric (Patient 4.0), outcome driven, ecosystem friendly and equipped to respond to huge cost pressures. The majority of developed countries are facing a collapse of the healthcare system in the near future because of the aging population; or, as it is called in the USA, the white tsunami (referring to the white hair of the aging baby boom generation). Thus, there is a need to innovate and digital transformation may well be the answer to that need. Which e-health innovations are most successful? How can one embark on a successful digital transformation in the healthcare ecosystem? These were some of the many questions tackled at the event.
Professor Carlos Cordon, Lego Professor of Strategy and Supply Chain Management at IMD, chaired the event and shared insights from a major research project conducted by the Value Chain 4.0 Center and the Global Center for Digital Business Transformation. The event was attended by about 40 high potential executives from pharmaceuticals, consulting firms, hospitals, medical device and technology companies. Invited speakers from a wide range of backgrounds shared their views on digital transformation in healthcare:
-Nils v. Dellingshausen, CEO of BetterDoc.org, showed how healthcare outcomes can be improved by using digital innovation to find the best physician for a particular health issue;
-Dr Michelle van Velthoven, research fellow in digital health at the University of Oxford, discussed findings from research on the quality and risks of wearables and apps in healthcare;
-Dr Sampath Koppole, Principal Consultant and Senior Technology Architect at Infosys, presented how leveraging real-world evidence can reduce drug development costs and deliver better outcomes;
-Toni Yanez, CEO and Senior Consultant at Synologic Sàrl, shared his vast experience with 3D printing, visual recognition and agile development in healthcare solutions;
About IMD’s Discovery Events:
Discovery Events bring together executives from across the network for intensive working sessions with our world class faculty. Corporate Learning Network Members have exclusive access to IMD’s Discovery Events. Discovery Events bring together executives from across the network for intensive working sessions with our world class faculty. They represent an unparalleled opportunity to discover, discuss and debate the very latest in management thinking and to come away with a renewed mind set and fresh ideas to implement in your business.