AIM’s DIGITAL TRANSFORMATION DIGEST: HEALTHCARE SECTOR (Part 2)
Ram Nidumolu, PhD
Professor, Indian School of Business | Award-Winning HBR Author | Strategy, Leadership and Digital Transformation Expert
This content has been developed by the Academy for Innovation and Management (AIM) to help busy corporate executives quickly learn about recent developments in their industries related to Digital Transformation (DT) and related trends. This specific report is the second in a series that focuses on the Healthcare sector. To prepare this content, we identify, filter and summarize the key news and business research worldwide and in India on how companies are implementing business transformation through digital and related approaches.
DIGITAL TRANSFORMATION IN HEALTHCARE SECTOR
Interesting Conversations
Five Digital Health Trends Investors Are Watching in 2017: A partner in an investment firm discusses the five key trends that investors are tracking in 2017 with regard to the healthcare sector: Digital interventions through apps that try to improve patient care, provider workflow solutions that enable scale, data integration and analytics, insurance reimbursement of mental health issues, and new models for insurance companies. READ MORE >>
The Role of Big Data in Medicine: A leading doctor and founder of a top medical center in the US talks of the role of big data in shaping the future of healthcare, including how big data enables modeling at different scales (DNA to ecosystem levels), how wearables are transforming medicine, how patients, payers and pharma will all benefit from big data, and how to engage with physicians whose training runs counter to big data collection. READ MORE >>
Why Data Block Is the Leading Cause of Death for Digital Health Startups: The CEO of a digital healthcare startup talks of how the leading cause of failure of healthcare startups is “data block”, which is the difficulty in integrating with legacy systems such as physician EHRs due to the variety of interoperability standards involved. READ MORE >>
Industry Reports and Analysis
World Economic Forum White Paper - Digital Transformation of Industries: Healthcare: This detailed report by Accenture on the digital transformation of healthcare discusses how digital technologies are shifting the industry from a provider-centric to a patient-centric model. Two big associated shifts are occurring, i.e., in the location of care (from hospital to closer home) and the type of care (from “diagnose and treat” to “prevent and manage”). To enable these shifts, four key digital themes are important, i.e., smart care, care anywhere, empowered care, and intelligent health enterprise. The report also discusses the key strategies that companies and other stakeholders can pursue in enabling this transformation. READ MORE >>
The Digitization of the Healthcare Industry: Using Technology to Transform Care: In this overview of how digital disruption is transforming the healthcare industry, Cisco describes how companies can implement digital transformation by defining, documenting and measuring business outcomes around health. They also describe five top strategic digital imperatives that healthcare providers need to pursue, including making the business interoperable, securing data and systems, empowering a more efficient workforce, creating an innovation environment, and cultivating the right partners. Interestingly, despite the impact of digital, a recent Cisco survey showed that almost half of the companies did not see digital disruption as a board-level concern, and only a quarter were willing to disrupt themselves to become more competitive. READ MORE >>
The Healthcare CEO Gets a New Job: In this report by Accenture Strategy, the CEOs of fifty healthcare companies describe how technology, regulation, demographics and the underlying economics are transforming the industry’s business models. Companies will need to reinvent themselves before they get disrupted and the skill requirements of CEOs are themselves changing dramatically. Moreover, new C-level roles are being created in the healthcare industry in response to these changes. READ MORE >>
I hope you enjoyed reading the content here and benefited from the information it provided. I'd appreciate your feedback and comments below. Thank you!
Warm Regards,
Prof. Ram Nidumolu, PhD, Founder and MD, Academy for Innovation and Management, Bengaluru
(NOTE: AIM provides incubation services such as innovation programs, advisory services, and next practices to enable the digital business transformation of companies. AIM’s founding team has developed deep expertise working with global companies such as PepsiCo, Nestle, USL Diageo, Godrej Consumer Products, Britannia, Medtronic, The Birla Group, Harley-Davidson, Alcoa, FedEx, Puma, Intuit, and many others to develop and implement business practices and programs that transform business. Our founding team’s frameworks and models have been recognized by the Harvard Business Review, the Stanford Social Innovation Review and other leading business publications. Learn more about AIM)