Deloitte releases its 2020 Global Health Care Outlook
Deloitte has released its 2020 Global Health Care Outlook, which takes a detailed look at the factors driving change in the sector and outlines suggestions that stakeholders can consider as they lay a solid foundation for the future.
The Deloitte report comes at a time of rising health care costs, changing patient demographics, evolving consumer expectations, new market entrants, and complex health and technology ecosystems. The Deloitte report finds that health care stakeholders need to invest in value-based care, innovative care delivery models, advanced digital technologies, data interoperability and analytics, and alternative employment models to prepare for these uncertainties and build a smart health ecosystem.
Abdelhamid Suboh, Partner, Healthcare and Life Sciences Leader, Deloitte Middle East, said: “Value will be the watchword for the health industry in the coming years, as it rises to meet various challenges. Digital transformation is slated to play a major part in laying the foundation for new care delivery models, and it is encouraging that in the Middle East we are already seeing evidence of digitally-enabled care being embraced, although still in its early stages. With noncommunicable diseases on the rise, it is crucial that health care stakeholders work toward a future in which the collective focus shifts away from a system of treating patients after they fall ill to one of healthcare, which supports physical and mental well-being, prevention and early intervention.”
According to the report, questions health care leaders should consider for 2020 are:
- How can our organization deliver cost-effective, high-quality healthcare today and prepare for the future?
- How can we strengthen consumer engagement, improve the patient experience, and optimize where and how health care is delivered?
- How well prepared is our health care system to undertake digital transformation? What needs to happen to equip our clinical workforce and patients to embrace technology-enabled care?
- How do we attract, develop and retain skilled health care professionals? How do we make our workforce more efficient and help them feel more fulfilled and satisfied?
The 2020 Global Health Care Outlook predicts that over 2019-2023 health spending will rise at a compound annual growth rate of 5 percent, up from 2.7 percent in 2014-2018. All regions apart from North America are expected to see average spending growth accelerate in the forecast period, with the largest annual increases in the Middle East/Africa (7.4 percent) and Asia (7.1 percent).
“The focus is now on how well we are prepared to undertake digital transformation, and how we can equip our clinical workforce and patients to embrace digitally-enabled care,” concluded Suboh.