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Australian HealthcareA digital perspective
Disruption, innovation and the new ecosystems for care and prevention
Caitlin Francis
April 2016
Page 3
Our Agenda
Digital disruption: What do we mean by digital disruption?
The digital customer: Why is digital changing expectations?
Participatory health: A new model to deliver care and outcomes
Digital health: What is ‘digital health’?
Digital health:
What is ‘digital health’?
Page 5
Digital is the defining mega-trend of our time
Page 6
Health data integration
Consumer health
engagement
Health market place
Care optimisation
Digital health encompasses a set of capabilities thatenable engagement by consumers and providers
• Social engagement
• Self monitoring
• Self-service
• Access to clinical data
• Personal health analytics
• Cloud computing
• Aggregated clinical &/or
self-monitoring data
• Anonymising
• Analytic framework
• Provider engagement
• Cost, quality & outcome
analytics
• Telehealth & home
monitoring
• Care management tools
• Market for insurance
purchases
• Market for selecting
doctors
• “Just in time” healthcare
Page 7
Healthcare has lagged behind other industries in its progress towards digital enablement (mobile, cloud, big data & social)
Opportunistic Repeatable Managed
Telecommunications
Utilities
Banking and Finance
Federal Government
Ma
turi
ty
Transport and
Logistics
HealthMining
Time
Energy
Media & Entertainment
Insurance
Retail
Source: EY
Page 8
In the future, the ‘health digisphere’ will be a complex, borderless, interconnected community formed around an individual to advance lifelong health
Source: Health Reimagined, EY, March 2016
Digital health:
What do we mean by digital disruption?
Page 10
The secret to understanding digital is that the underlying business model and allocation of capital is being re-architected
The technology is a byproduct of the new business
Digital disruption is a business model change which creates opportunities and threats
Worlds largest taxi company owns no taxis
Largest accommodation provider owns no real estate
Largest phone companies owns no telco infrastructure
Most valuable retailer has no inventory
Most popular media owner creates no content
Fastest growing banks have no actual money
Worlds largest movie house owns no cinemas
Largest software vendors don’t write the Apps
Page 11
Digital disruption is changing what is possible in healthcare
Radically different approaches
to care
New/non-traditional players
enter through increasingly
permeable boundaries
Consumers have adopted the
‘digital life’ with enthusiasm
Social shifts towards sharing
economy, crowdsourcing
Generation of vast amounts of
personal data via ‘quantified
self’ and ‘Internet of Things’
(IoT)
Consumers expect mobile-
enabled solutions they enjoy in
travel, transport, financial
services & retail
Page 12
This disruption is being reflected in the range and number of new entrants/non-traditional players in the health sector
New entrants/
nontraditional players “Brilliant, connected healthcare for everyone”
Online services/online
patient communities “Live better, together! Making healthcare
better for everyone through sharing, support
and research”
Consumer engagement “Big data, better health. Smarter care starts
with your smartphone’”
Big data/
clinical/administration“The deep learning healthcare company
ushering in a new era of Data Driven
Medicine”
Telehealth/point of
care/New Science “Expert doctors online when you need them”
Consumer goods/
wearables“Fitbit activity index – we geek out about
workouts…tips for getting started and staying
motivated”
Page 13
The growth in venture capital interest in digital health illustrates the changing business model
Venture Capital Investment (United States): Digital Health end of Q3, 2015
Total investment in digital health Q1-Q3 2015 = US$3.3b
Top 6 CategoriesQ1-Q3
2015Key deal
Healthcare consumer engagement $489m ZocDoc
($130m)
Wearables and bio-sensing $430mJawbone
($300m)
Personal health tools and tracking $315mHelix
($100m)
Analytics and big data $233m
Health
Catalyst
($70m)
Telemedicine $209m
Doctor on
Demand
($50m)
Payer administration $164mPlanSource
($70m)
Source: RockHealth. Q3 update: 2015 digital health funding exceeds 2014, 1 October, 2015 http://rockhealth.com/q3-update-2015-digital-health-funding-exceeds-2014/
The digital patient:Why digital changes customer (patient, provider) expectations?
“Put the user at the centre of everything you do”
Page 15
Experience is the new currency for digital businesses
Page 16
Interest in new types of services:
Australian healthcare consumers are poised to adopt digital health
Interest in using digital technologies:
Digital Health:A new model to deliver care and outcomes
Page 18
There are four irrefutable facts for the Healthcare and Life Sciences sectors which are shaping their development
1
2
3
Healthcare and Pharmaceuticals will continue to take an ever larger share of GDP – putting all payers under pressure
The merging of computational power with the health data and artificial intelligence will change the delivery of healthcare
R&D productivity and market access remains the sectors’ biggest challenges leading to increased consolidation and deconsolidation cycles
Information is driving patients, payers and healthcare providers to become Super Consumers – who are then determining the rate of change 4
Page 19
Sick-care Health-care
Blockbusters
Drugs
Personalised
Medicine
Disconnected
Healthcare
Connected
Healthcare
The pace of change is being governed by the “Shift to Digital”
“Uninformed”
Buyers/Users
Super
Consumers
Analogue Digital
Irrefutable Facts The Healthcare & Life Science Ecosystem Trends
Page 20
New entrants are betting on a new digital ‘participatory’ model in which maturing consumerism, technology and new social media platforms are key enablers
Page 21
Participatory Health is a future that’s underway
“The patient
will see you
now”
Page 22
EY report
“The future of
health insurance:
A roadmap
through change”.
2015
EY report
“Health reimagined:
a new participatory
health paradigm”.
2016
Recent and relevant EY publications
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