Strategies for healthcare providers in APAC

Hospitals in the Asia-Pacific region are beginning to shift their priorities from COVID-19 recovery back to fundamentals, such as improving safety and operations. Further, they are continuing to prioritise digitalisation and innovation that will increase operational efficiency and improve patient satisfaction.

FREMONT, CA: With elective procedures returning to pre-pandemic levels, hospitals are on course for a full post-pandemic recovery. A balanced budget or positive EBITDA is something that between 80 and 90 per cent of companies claim to have accomplished. Hospitals all around the region anticipate a significant income increase this year. Hospital management claim that ongoing cost reductions are necessary.  Over 40 per cent of executives anticipate higher spending on physical and digital infrastructure, and 38 per cent anticipate higher spending on medical supplies like cutting-edge drugs and devices, as they shift their attention away from pandemic preparedness and toward operational and clinical improvements to hasten the recovery. Reversing a trend, providers are now constructing new in-hospital care facilities like diagnostic imaging centres rather than free-standing outpatient clinics. For many executives, digitalization is a top priority. Hospitals are realising that the benefits of digital health go beyond generating more income. Additionally, it can boost patient happiness and operational effectiveness. Over 20 per cent of hospitals in the majority of APAC use digital solutions for routine medical care and administrative needs. Most APAC country executives anticipate that digital solutions would improve staff productivity and patient happiness. This is another shift from the past when executives concentrated more on using technology solutions to cut down on medical errors. 63 per cent of executives are worried about the impact on patient privacy, and 45 per cent are concerned about incompatible solutions, despite the enthusiasm for digital solutions.

1. Rising consumerism in healthcare: Consumption extends beyond only applications and gadgets. In exchange for improved health outcomes, experiences, and efficiencies, 

nearly half of consumers said they would be ready to pay more out of pocket for healthcare costs. Over the next three years, over a third of consumers would spend up to 20 per cent extra; they are most willing to pay for chronic care and regular, diagnostic health examinations.

2. A realignment of stakeholder trust: However, to alter healthcare delivery and grow digital healthcare, trust must be realigned throughout the system. Many customers are prepared to investigate new care options. Consumers trust pharmacists and primary care doctors more than technology businesses in the majority of Asia-Pacific markets. Consumers in Australia, Singapore, Malaysia, and the Philippines, on average, have roughly 30 per cent more faith in traditional primary care providers to coordinate and manage their care than they do in digital players.

3. New, tech-enabled healthcare norms: Covid-19 safety concerns first fueled the development of telemedicine. Due to its effectiveness and time savings, consumers are already embracing telehealth more widely. During the epidemic, it was also challenging to find pharmacies and offline providers. Customers admitted to using telehealth to receive urgent and emergent treatment, manage continuing and chronic care, and get second views. Two-thirds of customers feel at ease managing all or a portion of their healthcare digitally by seeing "any physician," not just their primary care physician.

There was a rapid transformation of healthcare delivery in the region. The pandemic boosted provider innovation ambitions and raised consumer interest in novel delivery systems. Many customers who used digital channels during the epidemic for safety concerns will keep using telehealth services out of convenience.