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The Indian healthcare landscape has become one of the largest sectors of the Indian economy, in terms of both revenue and employment. The new leap of growth is accelerated on account of developing newer business models around the core, hybrid models and transformation in public health and policy. This acceleration is also boosted by the integration of traditionalists and technology enterprises as well as new businesses around virtual first health and data.
Healthcare Technology
PwC’s healthcare advisory team assists clients in every step of their digital transformation journey in healthcare technology and to execute assignments across the healthcare ecosystem with differentiated outputs. This includes assistance with healthcare systems design, patient experience, pricing strategy, commercial due diligence, operational due diligence, EBITDA or profitability improvement, mergers and acquisitions, growth strategy and feasibility and location study
Enabling healthcare with technology
AI is going to be the game changer in solving two of the most significant challenges for Indian Healthcare of - access and affordability.
Committed to India
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Committed to India: What next for Indian healthcare?
Committed to India: What next for Indian healthcare?
What are the opportunities that have emerged for Indian healthcare in the post-pandemic world?
Find out how your enterprise can plan ahead with Dr. Rana Mehta, Partner & Leader - Healthcare, PwC India and Sanjeev Krishan, Chairperson, PwC in India.
A new healthcare era - Trends in a post-pandemic world
Four key shift pivots are transforming the landscape in the post-pandemic world - accelerators, deepening minimalism, convergence of purpose and diverging focus. The resultant impact – faster decisions, contactless care at scale, care continuum coverage with consumers at the heart of it and increasingly holistic treatment plans with simplified workflows without losing quality care.
This paper brings alive the relevance of fifteen plus emerging moats that are shaping the industry. To name a select few – virtual first health, Live insight/command centers, platform care, ambient voice, pill-device-data play and boundaryless.
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A new healthcare era in India
The increased focus on digitalisation has helped in accelerating contactless healthcare and faster decision making. Technological innovations have further helped patients and consumers to understand diseases better and subsequently, demand higher-quality healthcare services. The following changes have been identified across the healthcare framework during the pandemic.
- Delivering live insights
- Delivering post facto data insights to business insights at scale
- Disrupting traditional pharma practices
- Transitioning from medication to holistic addressal of adjacencies
With contactless care gaining ample momentum this pandemic, the focus moved towards reducing and optimising the number of touchpoints between the health system and health seeker, without losing the quality of care. This new need to optimise steps, has resulted in deep minimalism – a concept closely associated with the ability of a system to simplify steps without compromising with quality.
- Platform care
Decision support to virtual treatment enablement - Enabling care
Telemedicine to teletherapy - Emergence of voice AI
Graphical user interface (GUI) to voice user interface (VUI) - Pill-data-device in one continuum
Multiple players with limited touchpoints to single-engagement with multiple touchpoints - Universal health interface
Multiple access points to a single point of access
The way healthcare is delivered in the post-COVID era has shifted along with changing consumer preferences. The traditional means of healthcare delivery are undergoing an evolution with the aim of serving the end consumer while creating added value for all the players in the ecosystem.
The pandemic has highlighted the need for partnerships driving consumer ownership across the spectrum of care to ensure the best possible outcomes.
- Reengineering business models
Care delivery to continuum of care - Monetising data
Data capture to use of insights engines and advanced analytics - Untapped diagnostic potential
Active marketing to provider push for testing - Shifting influence of stakeholders
Independent purposes to one unified purpose - Proactive Government role
Regulator to active participant and driver
The impact of the pandemic on the healthcare sector as a whole and its various sub-sectors has compelled them to explore more holistic models of care delivery.
The demand-driven shift that we are experiencing today is only the beginning. The preparatory shift across the healthcare value chain aims at improving both business and health outcomes.
- Differing models different objectives
Service rendering to service-model sophistication - Expansion of health coverage
Coverage for a few to universal coverage - Blurring of boundaries
Disparate care delivery to holistic models - Diversification in digital
Standalone offerings to partnering for value-added services - Data impacting health outcomes
Early detection to continuum of care to data insights
Value Creation
Value creation in the healthcare industry will emerge from the interplay of these four big shifts highlighted above to expedite sectoral transformation into a more accessible, affordable, high quality and a hyperscale-ready health system.
Explore
- New entrant
- Data & Analytics
New entrant
New entrants from outside the traditional business transformation of healthcare are redefining the US$9.59 trillion global healthcare market for consumers, providers, payers, and investors in both developed and developing nations. These savvy, entrepreneurial players are bringing consumer acumen, innovative business models, more affordable and convenient care options, wellness and fitness and more to address long standing challenges.
Data & Analytics
Organisations are adopting new approaches to turning data insights into tangible results. From strategy to execution to results, PwC’s healthcare consulting teamcan assist clients with: executive workshops, strategy and innovation pilots, proprietary benchmarks, advanced analytics, analytics apps with data visualisation, and advisory engagement.
Insights
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