Healthcare

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. This acceleration is also boosted by the integration of traditionalists and technology enterprises as well as new businesses around virtual first health and data.

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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, Chairman, PwC in India.

Transcript

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, Llive insight/command centers, platform care, ambient voice, pill-device-data play and boundaryless care.

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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
acceleration

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
deepening minimalism

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
convergence of purpose

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
diverging focus

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.

 

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Dr. Rana Mehta

Dr. Rana Mehta

Partner, Leader - Healthcare, PwC India

Tel: +91 124 626 6824

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