Healthcare outlook for 2017

The election of Donald Trump in America, the fact that many African economies are in recession and a global aging population will make 2017 an interesting year for healthcare. The major global challenge for healthcare providers is how to provide increasing amounts of value at a lower unit cost. This is an issue we will continue to struggle with well beyond 2017. This article will address a few of the many trends to look out for in healthcare over the next year. Please feel free to comment below as to what you feel is important also.

1. Weaning the digital hospital

2017 will not be the year that the digital hospital fully comes of age. But the digital hospital has been breast-feeding for many years. 2017 will probably be the year when we see it eating solid food for the first time. The latter part of 2016 saw Silicon Valley multi-million dollar investments hone in on health in a way they haven’t done before. This is good for the ecosystem and excellent for patients.

In the next 15 years alone, the worldwide population of individuals aged 65 and older is projected to increase more than 60%, from 617 million to about 1 billion. So without a doubt, the biggest market to follow in healthcare is technology. With too few doctors /healthcare personnel and a growing aging population with multiple co-morbidities; wearables, tele-medicine and associated technology is an emerging space that is on track to transform healthcare delivery. Healthcare technology is saving millions of dollars and simultaneously providing more personalized, effective care for patients.

2. Growth in private health across the developed/developing world

Healthcare is one of the highest growth industries in the entire world. Over $200 billion of revenue was generated last year in healthcare revenues in the United States alone. Investment in healthcare across the world has made it more accessible to more people than ever before. New medical facilities are being built at an ever growing rate, and global healthcare revenue continues to increase.

Fortis Group/Apollo Hospitals and Narayana Hospital in India are just three of hundreds of multi-billion dollar hospital groups in developing countries offering affordable, lean business models that the West can learn from.

3. Hello Trumpcare

Trump and Republicans in Congress have stated that they will seek to repeal ObamaCare within Trump’s first hundred days in office. Donald Trump will try to apply his business acumen to the monolithic government healthcare system. This should result more cost-effective medications and procedures for patients.

Many Republicans believe that Obamacare puts too much power into the hands of the government, hospitals and doctors.  They hope to give patients more and better health care options, and to hold medical care providers accountable for the quality of their care.

If Trump is successful, then this type of entrepreneurial reform will showcase how we can all make healthcare delivery leaner.

Trump's 'America first' stance may also mean less American aid for Africa/other developing countries that rely; sometimes almost exclusively, on foreign aid to fund their healthcare budgets. In the long term I think this will be good for Africa. Its not sustainable for any country to rely donor funds for their healthcare budget. In 2017 I look forward to seeing African countries decrease reliance on aid as we continue to industrialize.

4. Epidemics and catastrophes

Outbreaks are an inevitable threat of nature. They cannot always be predicted. But most times they can be contained and controlled — if they are detected in time, and if there is an appropriate, speedy response.

Accordingly to the Air Transport Action Group (ATAG)  there are 102,465  flights globally everyday. With so many national and international travelers, every nation’s health security depends on the health security of other nations.

In the aftermath of the Ebola outbreak many global health organisations have learned lessons about speed of response, keeping healthcare workers safe and working in areas with poor healthcare infrastructure.

In 2017, if there is an outbreak of an infectious disease or a natural disaster, the learning points from the Ebola outbreak have almost definitely helped healthcare providers everywhere to be more prepared.

As both a business owner and a start-up investor, I look forward to a year of exciting digital health innovations, a leaner ,more accessible global healthcare system and better response to inevitable infectious disease outbreaks/natural disasters.