The three tech trends disrupting healthcare

Here are some key highlights from our recently published report. For more information on a paid research subscription, contact me at [email protected]

The Healthcare industry is vulnerable to disruption with A$23b out of A$130b at risk

Telstra is set to lead the disruption in Australian Healthcare

Disruption is set to transform the healthcare industry driven by rising costs, value conscious consumers and archaic patient experiences.

Big data in eHealth, point of care testing and mHealth are emerging as the three key disruptive trends in healthcare.

Disruption is coming...

Like industries before them (ie retail, travel, media) healthcare operators are vulnerable to the disruptive forces of technology.

Healthcare operators must embrace disruption to become more efficient, lower costs, increase accessibility and provide patient centric care.

Trend #1: Big data is transforming eHealth

• The emergence of big data in eHealth will disrupt the Healthcare IT segment driven by digitalisation of patient information, rising demand for medical insights, reduced medical errors, lower costs and greater efficiencies.
• While the Australian Government is the largest proponent of eHealth,  Telco giant Telstra is emerging as the largest disruptor in the eHealth market.

Trend #2: Mobile enabled point of Care testing

• Mobile enabled point of care testing driven by rising penetration of smartphones, ageing population, lower population density and improved patient outcomes is about to disrupt the medical equipment segment.
• The market for traditional equipment will shrink as new entrants like Universal Biosensors and Signostics take a larger share of the pie.

 Trend #3: TeleHealth 2.0 = mHealth

• mHealth (teleHealth) driven by lower costs (40% lower than traditional care), patient focused care, accessibility, geographic flexibility and ubiquity of mobile platforms is threatening to disrupt the general healthcare services segment by allowing patients to access healthcare services from the palm of their hands.
• Telstra is emerging as the biggest disruptor in the mHealth space.

Embrace innovation and change

• Digital and mobile technologies are providing the foundation for countless innovations in healthcare products and services and disrupting the way healthcare and diagnosis is performed, delivered and received.
• The winners will be those that are ready to adapt to changes and thereby make their health practices more cost effective while providing an improved level of care to patients.

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This blog is based  on our recent Venture Insights report 'Disruption In – Disruption is good for health', where we analyse the potential for disruption in the healthcare industry.

Venture Insights is a strategic research company. Venture Insights provides our clients a competitive advantage by outlining the key trends and implications flowing from disruption in key verticals that result from the information and internet age that we live in. We provide long term strategic thinking to capture the trends that will determine the winners and losers in sectors and sub-sectors as challengers test the rules of engagement with incumbents, whether they are in the telco, media or other digitally affected industries such as finance, health, travel, employment, real estate, etc.

We have partnered with Enders Analysis, the market leading independent research house for media, digital and Telco across UK and Europe. This supplements our local market coverage with coverage from UK and European markets so that our subscribers can gain insight on leading global trends.

For more information on this report and Venture Insights, please go to www.ventureinsights.com.au or contact me on [email protected]