8 Predictions for Healthcare In 2019
What's ahead for the healthcare industry in 2019?
A Frost & Sullivan look ahead offers a mix of the predictable -- AI continues to make inroads -- and the surprising -- healthcare will become an important vertical in voice applications.
Writing in Forbes, Reenita Das, a partner and VP of Healthcare and Life Sciences at Frost & Sullivan, makes 8 healthcare predictions for next year, with the most far-reaching being the globalization of outcomes-based care.
"We anticipate that by end of 2019, up to 15% of global healthcare spending will be tied in some form with value/outcome based care concepts," Das says. In fact, writes Das, "Globally, 2019 will be a year of value-based care... Furthermore, access to affordable and quality care will be key political agendas for upcoming 2019 elections in emerging markets such as Asia, Africa and, Central and Eastern European countries."
She says, "As the lines between retail, IT and healthcare industries continue to blur" online services like Facebook, Amazon, Tencent and Baidu "among others will dominate the home health space, providing the required impetus to public health systems to ensure accessibility and affordability of care."
Some of the other 7 predictions are in one form or another related to the growth of outcome-based care and to the increasing role AI and data are playing in healthcare. Here's what Das sees ahead for healthcare next year:
- 15% of global healthcare spending will be tied to value-based models
- Artificial Intelligence for healthcare IT application will cross $1.7 billion by 2019 -- "AI across clinical and non-clinical use cases will show hard results further bolstering the growth of in healthcare space."
- Digital health tech catering to out of hospital will grow by 30% and cross $25 billion -- "The application of digital health will continue to go far beyond the traditional system and empower individuals to be able to manage their own health."
- Asia becomes the new local innovation hub for global drug and device OEMs -- "We anticipate, by 2019, up to 10% of healthcare R&D will be invested to localize innovation for emerging markets in Asia."
- Analytics shifts from big data to meaningful small data by hospital specialty -- "We foresee a high number of specialty-specific analytics solutions will gain prominence among providers striving to investigate drug utilization, treatment variability, clinical trial eligibility, billing discrepancy, and self-care program attribution specific to major chronic conditions "
- Healthcare will be a dominant vertical in voice applications -- "We anticipate, throughout 2019, HIPAA-compliant voice and chatbot applications for healthcare will gain prominence as these tech titans aggressively compete on voice solutions."
- Blockchain move from hype to real initial commercial implementations generating ROI -- "We anticipate, by end of 2019, 5%-10% of healthcare-focused enterprise blockchain applications will move from pilot stage to partial/limited commercial availability."