Report by Bain & Company showed demographic changes and shifting consumer expectations necessitate significant transformation in healthcare systems in Asia.
By 2025, close to half a billion people across Asia Pacific will be aged 65 or older, and this represents an increased risk of age-related health conditions and diseases. Inevitably shifting the demand for chronic care management from acute care services, healthcare expenditure will also increase.
Bain & Company conduce a survey on more than 1,800 consumers in Australia, China, India, Indonesia, Singapore and Thailand, and more than 250 physicians in Australia, China India and Indonesia to better understand the region’s challenges and opportunities for the healthcare industry. Based on the results, healthcare systems across the region was urging for a transformational change as consumers and physicians alike recognise the status quo is unsustainable.
Almost 50 percent of the respondents expressed interest to adopt digital delivery models like telemedicine and remote care in the next five years. Consumers are pushing to change the existing frontline models of healthcare delivery by demanding more control, with nearly 70 percent stating that they would prefer a single touchpoint for managing their healthcare. Physicians are also feeling the strain on healthcare systems, with nearly half of all physicians surveyed said it would be more difficult to deliver high-quality care in the future.
“The ability of healthcare players to build trust with consumers and physicians will be key,” said Lucy d’Arville, a Bain & Company partner, who co-authored the report. “Interestingly, our research found that trust in healthcare players varies across countries. In Australia, India and Singapore, 70 percent of consumers say they most trust their primary care provider. However, in China, Indonesia and Thailand trust is greatest in secondary and tertiary care providers. Overall, there was mixed levels of trust for health insurers.”
Despite healthcare needs for each country to be unique, the research by Bain & Company revealed four universal opportunities that stakeholders can pursue as they look to reinvent their healthcare systems.
The first would be through empowering consumers by providing a single touchpoint for care. Secondly, transitioning care outside of the hospital by shifting non-emergency services from hospitals to outpatient settings. Also, to increase consume access to digital tools and platforms. Lastly, providing support to physicians with new technologies.
It is now time for healthcare stakeholders to respond to the needs of physicians and consumers to reinvent the dynamics of the healthcare industry in Asia for a more sustainable future. [APBN]