The healthcare industry continues to face significant challenges. The COVID-19 pandemic, an ageing population, and a consistent increase in the prevalence of chronic diseases are among the most urgent. Demand for quality care and delivering value to all stakeholders continue to be the primary goals for healthcare providers.
If the healthcare industry is to thrive in the coming decades, healthcare providers must focus on expanding precision medicine, transforming care delivery, improving patient experience and digitalising healthcare. This will require value partnerships among healthcare innovators and providers so that these challenges can be handled and the opportunities in healthcare can be better utilised.
Healthcare providers can add value by:
- Optimising current operations in a way that more can done with the same resources.
- Expanding capabilities by adding a good mix of staff, facilities, services.
- Advancing the pace of innovation within healthcare by developing novel capabilities and approaches.
Value creation in healthcare can be significantly leveraged with the right value partnerships. That is why the demand for partnerships with medical technology partners is already increasing in healthcare. These partnerships can help healthcare providers put interdisciplinary competencies of their technology partners and further improve performance in key areas such as facilities design, medical technology management, process optimisation and digital technology. In the end, the objective is to create value for both patients and healthcare organisations.
In order to determine if the time is right for a value partnership, it is important to evaluate and consider events such as new hospital construction, expansion, replacement of an ageing technology fleet, financial challenges, performance issues, changes in reimbursement, changes in ownership/management and a need to improve quality and reduce costs. These are challenges that can benefit from value partnerships.
The type of partner that healthcare providers select is also very important. An enduring partnership will require a partner with the technological expertise to help drive innovation in efficiency, personalization and digitalization of the healthcare enterprise. This transformation will also require change management experts to guide healthcare providers to handle and address challenges through strategic and clinical consulting. Partners should ideally have a broad portfolio and global reach as well as deep insights into the science of medicine. This can help pave the way for success for healthcare providers and improve the quality of care for patients.
Overall, value partnerships can go a long way in helping healthcare providers achieve their goals of providing high-quality care and delivering value to stakeholders.
Source: Siemens Healthineers
Image Credit: Siemens Healthineers