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Zayna Khayat, Ph.D. Futures @ Saint Elizabeth Healthcare @ZaynaKhayat | #SEFutures | @StElizabethSEHC
Health: From Cost Center to Wealth Creator
Clinical Trials Ontario Conference 27 March 2018, Toronto
Source of image: https://www.naijapreneur.com/how-entrepreneurs-create-wealth/
• Economic wealth • Societal prosperity
2
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
Source of image: GETTY
Experience
VBIP will enhance health outcomes and health service delivery by:
• Using modern, value-based procurement techniques that recognize and reflect the needs of patients, caregivers, and health service providers
• Partnering with health industry leaders and calling openly for solutions to complex health challenges
• Breaking down the silos of healthcare delivery across the patient journey through health system funding reform
• Sharing the risks and benefits of new technologies and processes with industry and health service providers, seeking new approaches to financing innovation.
The Value-Based Innovation Program (VBIP) supports the Value-Based Innovation framework for leveraging Ontario’s health system as a demand driver for innovative
services and technologies that support health system priorities.
Ontario (& many others) transitioning to Value-Based models
Source: William Charnetski, OCHIS (2018)
• Economic wealth • Societal prosperity
7
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
• Economic wealth • Societal prosperity
8
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
PRODUCTIVITY
• Presenteeism • Longevity in labor force
Source: Think Progress (2008)
Canada (Conf. Board 2013) • ~8 days/year lost productivity • ~$200b productivity loss p.a. • Informal caregivers (8 million) • Longevity – labor force participation Source: Conference Board of Canada (2013)
Economic Development 2.0: Playing The Healthcare Card, by David Chase in Forbes (May 2015)
“After payroll, the largest cost for most industries is healthcare benefit costs. Just as manufacturers shift production to low-cost manufacturing centers, industries will be attracted to high value healthcare centers. For instance, IBM is making decisions on where to locate new technology centers based on the healthcare value equation. These decisions represent thousands of jobs for communities vying for those growth opportunities.”
• Economic wealth • Societal prosperity
12
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
JOBS #1
JOBS #2
• ~1.5M health workforce • Higher wages • Inelastic
>5,000 companies ~80k skilled workers ~$40B revenues • $21B GDP contribution
~26% higher wages 10% of income tax Total economic impact: • ~$40B GDP • >165k jobs
Priorities
Ontario Office of the Chief Health Innovation Strategist
14
- Improve Patient Outcomes
- Optimizing Impact of Investment in Health Innovation
- Scaling Health Innovation Companies
Purpose
Pathways to Adoption and
Scalability
Procurement of Innovation
Better Care Closer to Home
Empowerment Through
Digital Health
Enhanced Indigenous
Health
Alignment and Collaboration Across the System
Source: William Charnetski, OCHIS (2018)
Pan-Canadian Approach
• Alberta, British Columbia and Quebec championing health innovation as an economic driver
• Justin Reimer, Assistant Deputy Minister, Innovation and
Strategic Operations, Alberta Health at Government of Alberta
• Heather Davidson, ADM, Partnerships and Innovation
Division, Ministry of Health, Province of British Columbia
• Quebec Life Sciences Strategy – a similar role and office to OCHIS will be set up in Quebec
Source: William Charnetski, OCHIS (2018)
17
Zayna Khayat - 2018
https://gnhic.com/
NEURO-TECH CELLULAR THERAPY
The New Health Economy
• Economic wealth • Societal prosperity
19
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
JOBS #3
Source: Association of Faculties of Medicine of Canada report (2014)
jobs roi $3:$1
economic activity
Spinouts-licensing
22
Siteless trials
23
Blockchain technology for improving clinical research quality; Mehdi Benchoufi andPhilippe Ravaud, Trials https://doi.org/10.1186/s13063-017-2035-z
Blockchain-enabled Smart Contracts
AI transforming trial recruitment
https://blog.andreacoravos.com/software-enabled-clinical-trials-8da53f4cd271
eData Capture eClinical Outcomes Assessment ePatient Reported Outcomes Personnel communication platforms …
Smart operations
Smart engagement
• Economic wealth • Societal prosperity
27
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
JOBS #2 FOREIGN REVENUES #1
Net exporters Foreign investment
Image source: Siemens Healthineers
• Economic wealth • Societal prosperity
29
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
FOREIGN REVENUES #2
Image source: Siemens Healthineers
“A burgeoning new solution economy has emerged, where players from across the spectrum of business, government, philanthropy and social enterprise converge to solve big problems and, in the process, create tremendous public value and new wealth.”
• Economic wealth • Societal prosperity
32
Government
• Work productivity • Quality of Life • Presenteeism • Longevity • Fewer health claims
Canadian Health Systems ~$220B
Industry
Programs, policies
Tax
Global markets
Taxes
Academia
Knowledge, IP
Good, services
HC services
$
Research ~$1-2B
~$140B
$
$
$
Services, data
PRODUCTIVITY
JOBS #1
JOBS #2 JOBS #3 FOREIGN REVENUES #1
FOREIGN REVENUES #2
Health: From Cost Center to Wealth Creator
KEEP CALM & KEEP INNOVATING Zayna Khayat, Ph.D. [email protected] @ZaynaKhayat
https://www.saintelizabeth.com/futures
