The pandemic has been an unlikely catalyst across industries. Inadvertently causing changes in the way they have done business, and for people to adapt to new ways of living and working. One particular industry that has been in the centre of this storm – but has not effectively changed its methods of delivering its services – has been the healthcare industry. Let me explain.
There have been enough comments and written papers, about the idea of ‘digital health’ and how providing virtual care in this environment of restrictions on personal interactions, has forced patients and doctors to adopt methods of remote consultations and other aspects of ‘tele-health’. This is all true. However, the word I have used above is “effectively” change. To be able to effectively impact something would mean having a meaningful, even tectonic shift in the way something was being done before. That, in my opinion, has not happened in the healthcare industry yet.
An area of healthcare where a massive change is coming is in how we pay for it: The Fintech for Healthtech, with payments simplification driving this change.
Indian healthcare services expenditure* stood at $115 Billion this year, with over $72 Billion