Disruptive trends in healthcare

Yves SchoofBusiness, Finance

In a previous article (click HERE) I commented on how doctors can turn disruption into opportunity.

In this week’s article I wanted to share some other interesting insights I found on current disruptive trends in healthcare. Below is a summary of the information that is available on the PWC Healthcare Website.

I would encourage you to watch the 5 minute video summary there as well.

5 disruptive trends in Healthcare

1) Demographics

An ageing population and growing middle class are driving up the demand for healthcare. Accelerated urbanisation and access to middle-class comforts are promoting sedentary lifestyle changes that will inevitably lead to greater incidence of obesity, diabetes and other costly health conditions.

2) Chronic diseases

Costly chronic care needs are growing and exerting considerable demand on health systems. As highlighted before, an ageing population and changes in societal behaviour are contributing to a steady increase in these common and costly long-term health problems.

3) Lack of resources

Healthcare systems around the world are dealing with depleting resources at a time when demand for healthcare is rapidly rising. Governments face growing pressure to reduce costs without impacting quality or access to care.
While funding challenges exert significant pressure on healthcare systems, the shortage of human resources presents a more alarming trend. Current systems will be unable to keep up with the swelling health needs of the population. According to the World Health Organization, by 2035, we face a projected shortage of 12.9 million healthcare professionals globally.

4) Increasing lack of trust

Consumer skepticism is fuelling a rise in DIY and non-traditional care services. Patients are becoming more demanding of information, alternatives and improved outcomes.

5) The Patient/Consumer is more demanding

More demanding and discerning consumers are opening doors for new entrants in healthcare provision. Patients are demanding more sophisticated, convenient, transparent, affordable and personalised service.
Patients are also welcoming the flexibility that technology brings to their care.
Patients are taking a greater interest in their care and are more willing to self-manage. They want to be more empowered when it comes to their health.

Summary

It is obvious that the traditional healthcare model is changing at an ever-increasing pace, and practitioners need to come to terms with this. As I highlighted in my previous article, disruption also presents opportunities, both for patients and practitioners. It is my belief that those who embrace technology and focus on the patient will thrive in this new environment.

About me

I specialise in managing and coordinating the financial affairs of medical professionals and have been recognised as one of the best financial planners in Australia. I am a Certified Financial Planner and member of the Financial Planning Association of Australia.

As I understand your time is extremely valuable and scarce, I am able to offer flexible meetings times, including outside business hours and during the weekend. I can even come and meet you somewhere convenient, or talk via videoconference on Skype.

My first consultation is free. I allocate up to 90 minutes to discuss your personal circumstances and to establish how I may best assist you. Where you already have an existing adviser, I would be happy to offer a second opinion. I always quote a fixed dollar fee before we start working together.

Please contact me on yves@affluenceprivate.com.au or call me direct on 08 9381 2704. You can follow me on Twitter @YvesSchoof or connect with me on Linkedin to receive new articles.

Disclaimer

Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313. 

The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.

Yves Schoof
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Yves Schoof

Author | Specialist Adviser for Medical Specialists and Surgeons at Affluence Private Wealth
I specialise in managing and coordinating the financial affairs of medical professionals and have been recognised as one of the best financial planners in Australia. I am a Certified Financial Planner and member of the Financial Planning Association of Australia.

As I understand your time is extremely valuable and scarce, I am able to offer flexible meetings times, including outside business hours and during the weekend. I can even come and meet you somewhere convenient, or talk via videoconference on Skype.

My first consultation is free. I allocate up to 90 minutes to discuss your personal circumstances and to establish how I may best assist you. Where you already have an existing adviser, I would be happy to offer a second opinion. I always quote a fixed dollar fee before we start working together.

Please contact me on yves@affluenceprivate.com.au or call me direct on 0432 885 295. You can follow me on Twitter @YvesSchoof or connect with me on LinkedIn to receive new articles.

DISCLAIMER
Yves Schoof and Affluence Private Wealth are Authorised Representatives of Synchron, AFS Licence No. 243313. 

The information posted is intended to be general in nature and is not personal financial product advice. It does not take into account your objectives, financial situation or needs.
Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice and read the relevant product disclosure statement (PDS) or other offer document prior to making a decision.
Yves Schoof
Follow me

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