Financial intelligence for Asia's healthcare markets
 
 
Remember me:

HIAS: Telemedicine does not replace doctors

Despite all of the conversations about patient-centric technology, James Kilmister, development director at Civica, and chairman of the panel on “How tech and digitalisation can enhance operational efficiency and patient outcomes” cut straight to the heart of the matter. “How do you get it into organisations?” he asked.

Ronald Ling, chief executive, ConnectedHealth, said that technology needed to be both consumer and doctor facing. There has been a huge take-off of digital health in the US, indeed it is one of the fastest venture funded sectors because it is supported by insurers. “What the payer says the providers have to follow,” he said. Areas where this has resulted in cost savings are getting traction because of an active payer system. But, he emphasised: “Healthcare is a local game, it has to be significantly adapted to local markets”.

Peng Chung Mien, chief executive of The Farrer Park Company, explained how it has worked in Singapore. In one sense, he said, it was easy for him because he was a startup with a clean slate. “Business processes have been challenging,” he admitted. He specifically mentioned adoption by doctors. Older ones are happy with pen and paper, while it is easier to convince the younger ones. The new National Electronic Health System in Singapore is helping. “Doctors realise that it is top down,” he said.

For Michael Fernandes, partner at LeapFrog Investments, the difficulty is how to deliver healthcare in spaces that are not urban. “The biggest challenge is to connect the providers with the patients,” he said. He pointed out that although telemedecine has existed for a long time, it has often been impractical. It has been difficult to do bloodwork, for example and often results in the teledoctor recommending a trip to a conventional physician.

But the issue remains of how can organisations overcome a well-known aversion towards technology in older patients. “You have to design your products well,” said Ling. If they are to succeed, products in Asia have to recognise local conditions. There is the recognition that people get help from helpers and family members. Technology needs to recognise that. Above all, he concluded is the need to recognise that “technology will never replace the human, but it will improve the productivity of doctors.”

Posted on: 15/05/2018 UTC+08:00


News

SGX-listed Acromec, which designs and builds medical and sterile cleanrooms, has secured another contract in the healthcare sector valued at S$2.9 million (US$2.1 million). It is expected to be completed by the end of the year.
Sydney-based 1st Group, the Australian digital health, media and technology group, has appointed Richard Rogers as chief financial officer. He joins from Lenovo Australia & New Zealand.
Asia-focused market expansion services provider DKSH is to sell its healthcare business in China to Warburg Pincus for SFr100 million (US$100.7 million).
Summerset Group, New Zealand’s third-largest listed retirement village operator, has said that it expects underlying half year profits to jump between 21% and 26% to NZ$43 million (US$29.4 million) and NZ$45 million.
Patient flow management firm Jayex Healthcare has signed a binding licence agreement with medical cannabis company MediCann NZ under which it will be granted the exclusive use and application of its technologies in New Zealand in connection with their proposed sale and distribution of medical cannabis products in line with the expected deregulation in New Zealand of medical cannabis.
IDS Medical Systems Group, a leading medical supply-chain solutions company in Asia, and Tencent-backed We Doctor have formed idsMED WeDoctor China, the country’s first smart medical supply chain solutions and procurement company.
Australian medtech company Resonance Health has signed an alliance partner agreement with Blackford Analysis which grants it rights to integrate and combine Resonance Health products with, or sell and license Resonance Health products in connection with the host application.
Malaysian medical services company Adventa has scrapped plans to raise M$80.2 million (US$20.3 million) after Top Glove Corporation, the world’s largest rubber glove manufacturer, announced legal proceedings against its parent Adventa Capital and two of its directors.



Analysis

Ping An Healthcare and Technology, formerly known as Good Doctor, has signed contracts with nearly 200 large corporations, including Vanke, Greentown, Bank of China, China Telecom, China National Nuclear Power, Evergrande Group and provides services to nearly 1.5 million employees, covering 27 provinces, autonomous regions and municipalities.
Earlier this week, Cigna Corporation released the results of its 2018 Cigna 360° Well-Being Survey – Future Assured. The findings, which were tracked over a four year period, show rising awareness of the need to prepare for old age, which includes being continually active and financially independent. As a result, people are working harder today, and increasingly calling on employers to help in managing workplace stress.
Auckland-based ehealth software company Orion Health is to sell off two significant parts of its business to private equity technology investor Hg for NZ$225 million (US$150.7 million). The sale could revitalise a company that has struggled recently.
Aon’s inaugural Asia Healthcare Trends Report 2017/18 shows that although Hong Kong has a lower medical inflation rate than the average in APAC, it is the highest in Greater China.
Out of date and unsecure fax machines are still being used to share patient information between healthcare providers in Australia. Not only do fax machines cause frustration for healthcare providers trying to communicate with each other, they can also cause patient harm.
Health and well-being programmes are fragmented and do not meet the needs of stressed Asia workforces, finds Willis Towers Watson. By and large, employers in Asia still miss the mark when it comes to their health and well-being benefits, with many employees feeling that their needs are not met, according to research from the global advisory, broking and solutions company.
According to a survey of biopharma companies by L.E.K. Consulting, the majority of firms from Western Europe or the US are interested in China, specifically those at Phase 2 or later development.
Sara Jost, global healthcare industry lead at BlackBerry, explains that putting the systems and procedures in place to deliver a healthy and secure digital healthcare system will protect patient health information and support medical innovation.
my images

Podcasts

HealthInvestor Asia twitter feed