Written by Donna Hui on March 9, 2016
in Healthcare Marketing

Healthcare innovation is happening now – there just needs to be more adoption by industry.

I attended an excellent session and panel discussion held recently by KPMG.  It drew an audience of mainly healthcare tech, innovation thought leaders, and consultants; while not surprisingly, void of pharma. Here’s a summary from KPMG’s report:

So what’s converging?

  • Pharma and med device companies with digital technology creating combination products to address unmet consumer needs (Sanofi and Medtronic focused on diabetes products and better disease management)
  • Retailers and telecom companies working with providers to enable both quality and better community-based care (Walmart and CVS clinics; Telus EMR and QHR EMR creating clinical tools/modules to improve patient outcomes)
  • Diagnostic companies leveraging disruptive technology for better predictive care (Theranos and 23andMe in the form of testing kits sold directly to consumers)
  • Senior care companies with adjacency care companies to integrate across the continuum from acute to long term, hospital to home-based (Revera with its many M&As)

And what’s driving this change?

  • Shifting demographics to a more senior population with increased pressure on the healthcare system
  • Focus on outcome-based payments (Greenshield Canada and Memotext disrupting traditional business models to increase adherence in hypertension)
  • Patients expect and want more (of course we already know this at Ariad Health)
  • Digital health technology and access to health data (LifeLabs providing lab test results for their patients in BC and ON)

Outside of this report, while the above sounds promising, what was clear from the panel:

  • Canada still lags far behind in terms of adoption because of the government controlled public funding. However, if governments want to change, they can. Take Netherlands for instance, they introduced a nationwide system for the exchange of medical information and access to electronic patient record
  • Canada is accelerating in entrepreneurship, 2nd in the world to the US, and tied with Australia. However, despite our home-grown efforts, the hardest sell for Canadian entrepreneurs lies within

Bottom line – there’s no shortage of healthcare innovation happening right now. Marketers need to cross the threshold and take advantage of what the converging industries are offering now, before they miss out.

Donna Hui is a Senior Account Director at Ariad Health

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