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Analysis: Healthcare leaders need to be digital to succeed

Business leaders in Asia Pacific’s healthcare industry are showing urgency in embracing the fourth industrial revolution, according to the Microsoft Asia Digital Transformation Survey. More than three-quarters of them believe that they need to transform to a digital business to enable future growth and yet only a quarter said that they have a full digital strategy in place today.

Technology advancements have ushered in the fourth industrial revolution, where cutting-edge technologies such as internet of things (IoT), artificial intelligence (AI), advanced data analytics, and mixed reality that are powered by cloud computing are creating limitless possibilities in transforming the way people work, live and play. This revolution, compounded by on-going challenges faced by the healthcare industry, such as the evolving healthcare needs due to changing demographics, rise of chronic diseases, shortage of caregivers and cost of quality healthcare, is ushering societal and economic changes at an unprecedented pace. However, the fourth industrial revolution also has the potential to be truly game-changing for the healthcare industry. Taken together, the potential for merging physical, digital and biological systems can enable the healthcare industry to achieve its aspirations.

The Microsoft Asia Digital Transformation Study surveyed 1,494 business leaders from Asia Pacific working in organisations with more than 250 employees from 13 Asia Pacific markets: Australia, China, Hong Kong, Indonesia, India, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan and Thailand. All respondents were pre-qualified as being involved in shaping their organizations’ digital strategy. This included 247 healthcare leaders from Asia Pacific.

Even as majority of business leaders are aware of the urgent need to transform digitally to address the changing business climate, the study found that the transformation journey for most organisations in Asia Pacific is still at its infancy. In fact, only a quarter of healthcare leaders indicated that they have a full digital transformation strategy in place, and less than half are in progress with specific digital transformation initiatives for selected parts of their organisation. A third still have very limited or no strategy in place.

“The Microsoft Asia Digital Transformation Study has shown that Asia Pacific’s healthcare industry has started to act on the need for digital transformation to address the challenges and opportunities of the fourth industrial revolution in the region,” said Gabe Rijpma, senior director, health and social services for Asia at Microsoft. “Healthcare providers are not acting fast enough in capitalising the value of latent data to transform a reactive sick care system into a proactive one that manages individual and population health more effectively and at a lower cost. We urge all business leaders in this space to digitally transform themselves amidst changing demands externally and internally, to stay relevant.”

He continued: “At Microsoft, we believe this involves transformation in four key pillars – empowering care teams, engaging patients, optimising clinical and operational effectiveness and transforming the care continuum. Underlining these four pillars are the use of data and cloud, which will further accelerate the aspirations of the healthcare industry.”

Posted on: 10/11/2017 UTC+08:00


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New Zealand-based cancer diagnostics company Pacific Edge (PEB) has entered into an agreement with MediNcrease Health Plans, a US national provider network, to make its bladder cancer diagnostic test available.
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Kelantan-based Ain Medicare, which manufactures both blood and renal medical devices as well as pharmaceutical products, has raised M$20 million (US$5.1 million) in a strategic investment from Malaysian government investment company A-BIO.
Anthea Muir has been named chief executive of Australian cosmetic clinic chain Laser Clinics Australia with Paul McClintock as chairman. Muir comes from Luxottica Group while McClintock is best known as the former chairman of Medibank Private.
Harmonicare Medical, the largest private obstetrics and gynaecology specialty hospital group in China, has increased its loan to help the Rmb160 million (US$25.3 million) construction of Wuxi Harmonicare, a new obstetrics and gynaecology hospital in Wuxi, Jiangsu Province.
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