Healthcare systems across Asia are facing unprecedented challenges. Ageing populations, rising chronic disease burdens, and resource constraints are pushing traditional models of care to their limits. However, there remains tremendous opportunity for innovation. Multiple stakeholders across the healthcare landscape – from ministries of health and their digital agencies, providers, system integrators, large corporates, start-ups, payers and investors – are committed to finding new, better ways to deliver healthcare, in a sustainable, patient-centric manner.
How do we connect these different groups together to identify areas of opportunity, collaboration and growth? This is where HealthTechX Asia comes into the picture.
The first of its kind in Asia, HealthTechX is envisioned as a dedicated platform bringing the entire healthcare ecosystem together to drive innovation across the health continuum, from prevention and diagnostics to treatment and care delivery.
Ahead of the inaugural event happening in May 2025 in Singapore, an exclusive launch was held with two engaging panel discussions on HealthTech innovation and investments in Asia.
What’s holding back healthcare innovation?
Healthcare is “one of the few industries where innovation doesn’t lead to lowered costs,” said Mr Sutowo Wong, Director of Health Analytics Division, Planning Group at Ministry of Health Singapore.
The value of healthcare innovation lies in other metrics, such as improved quality of life and reduced healthcare utilisation. This makes it less straightforward to measure and define its ROI.
Nonetheless, digital transformation is one innovation strategies that has proven cost-effective, highlighted Dr. Eric Wong, Group Chief Digital Health Officer, National Healthcare Group.
There remains lots of white space – unmet needs and demands – in healthcare that technology solutions could potentially help fill, panellists pointed out.
Alongside Singapore’s shift towards proactive, preventative care as part of Healthier SG, healthcare will become increasingly anchored in the community and the home, noted Assoc Prof Low Lian Leng, Chairman of Division of Population Health and Integrated Care, Singapore General Hospital.
Prof Low, who is also concurrently Director, Centre for Population Health Research and Implementation at SingHealth; and Director, Research and Translational Innovation Office at SingHealth Community Hospitals, raised the examples of home testing devices and DIY testing kits (for example HbA1c blood tests, used to track blood glucose levels), as well as AI solutions for patient reminders and education, as areas that can be further explored.
Agreeing, Mr Wong pointed to geospatial dashboards collating community and social activities, which GPs can tap on to issue ‘social prescriptions’, on top of typical medical prescriptions.
In conclusion, panellists agreed that transforming healthcare requires collaboration across sectors – from payers, industry to academia and community partners – as well as innovative ideas across different levels of each organisation.
The challenges are significant, but so are the opportunities. By embracing innovation and putting patients at the centre, Asia’s healthcare systems can transform to deliver more equitable, sustainable, and effective care.
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