The traditional healthcare model—episodic, fragmented, and often inconvenient—is on the cusp of a transformative change. At Techwave Solutions, we’re at the forefront of integrating secure, real-time data across the healthcare ecosystem to foster a more cohesive, patient-centric approach. As the industry evolves, it’s crucial to rethink every component of the value chain to meet the demands of the digital age.
The Promise of Connected Care
Connected care introduces a multitude of opportunities and benefits, driving a fundamental change in how healthcare services are delivered and experienced. New partnerships will emerge, and the power dynamics within the industry will shift as the sector adapts to a connected care model. While the technological infrastructure to support this transformation exists, a comprehensive blueprint for orchestrating these elements remains to be developed.
In exploring this evolution, we conducted a global survey involving 375 senior decision-makers across five key sub-sectors of the healthcare industry. Participants included healthcare providers, payers, pharmacies, pharmaceutical manufacturers, and medtech providers. The survey, conducted in North America, Europe, and other regions, aimed to understand their perspectives on connected care.
The Need for Ecosystem Collaboration
Connected care demands a holistic reimagining of the entire healthcare system. According to the survey, 60% of respondents believe that healthcare practices must be reinvented to realize connected care fully. Furthermore, 69% see a broader role for pharmacies in this new model. The majority of participants (88%) anticipate that pharmacies will become primary points of care, dispensing precision medicine, and monitoring patient health. Connected care also promises to help payers simplify processes, manage costs, and enhance member experiences.
Overcoming Challenges
Healthcare professionals (HCPs) acknowledge the pivotal role they play in implementing connected care but face significant challenges. Funding models that do not incentivize investment in new technologies and practices remain a major concern. Effective connected care relies on the availability of training for connected care devices, remote monitoring capabilities, and robust funding models.
Pharmacies, in particular, have the potential to revolutionize connected healthcare by improving care accessibility and managing the handoff between HCPs and patients. They need access to remote monitoring devices, patient health records, and support for technological development to offer new services effectively. Virtual assistants powered by large language models (LLMs) can assist pharmacies in managing medications and patient interactions.
The Role of Payers
For payers, connected care offers new models for healthcare delivery and patient engagement that can reduce costs and improve member satisfaction. The adoption of AI, IoT, and advanced mobile connectivity through technologies like 5G or 6G are critical to these new models. Hyperscale cloud services can disrupt traditional healthcare value chains by automating processes such as coding, member communication, and regulatory compliance. Payers have a crucial role in legitimizing these new processes through their policies, driving collaboration across stakeholders to overcome obstacles.
Advancements in Pharma and Medtech
Pharmaceutical leaders emphasize the importance of reliable access to patient records and advanced computational tools for precision medicine. AI is expected to significantly reduce clinical trial costs and enable value-based contracting and pricing models. Medtech providers also see AI as a top value driver, though its adoption among healthcare providers is still limited. AI has the potential to transform workflows by automating tasks such as patient communication, documentation, and data analysis, thereby enhancing patient care.
Unlocking a New Era of Connected Care
The success of connected care hinges on overcoming numerous challenges, including the development of a robust communications infrastructure. Effective connected care requires seamless coordination among various stakeholders, ensuring trust and cooperation. By focusing on strategic questions and fostering integrated data flow, the healthcare ecosystem can unlock a new era of interconnected, collaborative care.
At Techwave Solutions, we are committed to leveraging forward-thinking strategies and innovative technologies to shape a future where healthcare is predictive, preventive, and personalized, setting new standards for patient-centered care.
