EVENT: HEALTHCARE ASIA SUMMIT Sustainable healthcare takes centre stage at HCA Summit

Over the last three years, there have been significant changes in the global healthcare scene, particularly in Asia, compared to the past 20 to 30 years. Now that the industry is moving into a postpandemic era, organisations must continue to learn, adapt, and ensure that they will be able to provide sustainable services to their patients.

In line with this, the Healthcare Asia Summit 2023 in Singapore has brought together professionals from across the Asia Pacific to discuss the future of healthcare. The event was attended by 157 in-person attendees from Asian countries and nearly 100 other participants who joined online through Zoom, Facebook, and LinkedIn.

Alex Boulton, Partner at Bain & Company, started the presentations with a discussion on the healthcare services demand in Asia as patients are experiencing long waiting times and high expenses. Boulton presented findings showing a rising shift towards consumerism in healthcare, a shake-up in trust, a desire for simplicity and convenience, and a preference for digital engagement and a single touch point for managing overall healthcare needs.

Boulton then talked about opportunities for healthcare ecosystem participants: to simplify the patient journey, create an integrated continuum, provide valuebased care, and empower patients and physicians to drive productivity to close the supply gap. He also noted that the breaking down of silos and the need for collaboration could solve the challenges facing the healthcare industry.

“This is not a sector where you’re thinking intensely about your competitor and how you outcompete. It needs to be thinking about how we sort of come together and solve the challenges,” said Boulton.

Meanwhile, Yong Yih Ming, Chief Executive Officer at Mount Elizabeth Hospital at IHH Healthcare, gave a provider perspective on evolving patient needs. Yih Ming highlighted the government’s role in ensuring equal access to healthcare through a safety net. Given this, he emphasised the importance of value in healthcare and the development of methodologies to ensure appropriate treatment and consistent practice. He also mentioned the focus on digital initiatives that aim to promote healthy lifestyles, not just treatment.

Dr. Walter Lim, Singapore Managing Director at Fullerton Health, talked about building a sustainable future for medicine, ideally for the next 10 years.

Sustainable healthcare

Firstly, he emphasised the importance of preventive care.

“The crux of it really is prevention is better than cure, which is really the fundamentals of healthcare. And this is what I mean by building from the ground up,” he explained. Secondly, Lim said there is a need to “build for populations” and support vulnerable populations. Lastly, he highlighted the need to build patient journeys by building a strong foundation for health education.

Joining the first panel were Lim Wai Mun, Founder & CEO of Doctor Anywhere; Andrew Wong, Chief Health Officer of Prudential plc; and Serene Cai, Co-Founder of Speedoc. The session, led by Boulton, discusses the future of telemedicine in healthcare and how it has rapidly gained adoption during the pandemic.

The panellists mentioned the importance of understanding how technology is evolving to include remote monitoring, big data collection, and AI. They also agree that telemedicine is becoming an essential tool for healthcare providers to enhance their practice, though it will not replace in-person care completely.

Partha Basumatary, Principal of Boston Consulting Group, talked about climate and sustainability in healthcare in his session. He stressed that environmental, social, and governance (ESG) practices should not be treated as just one initiative but instead as a “strategic advantage.”

For his part, Bumrungrad

International Chief Partnerships Officer David Boucher talked about the medical value of travel in the postCOVID world, caused by significant delays in elective procedures and chronic illness treatments. In addition, telemedicine and remote monitoring are also becoming integrated into medical value travel, making it easier for doctors to follow up with patients from around the world.

Adjunct Assistant Professor Kelvin Tan, Senior Consultant and Head of Service (Adult Reconstruction) of Tan Tock Seng Hospital, reflected on the challenges brought by the pandemic to healthcare in Singapore, such as the bed and manpower crunch, the need for advanced training for nurses and doctors, and the impact on elective surgeries. Patients’ mindsets were likewise changed by the pandemic, as they now have the desire to go home earlier, leading to an increase in ambulatory surgeries.

For Tan, ambulatory surgery is the way forward, but he also looked into alternative solutions such as virtual healthcare services that can encourage patients to recover at home and digital health like wearables and mobile apps, which allow for a less tiring experience for both patients and healthcare providers. Tan also considers a paperless, accessible, and unified platform to store healthcare data as a “dream,” but stresses the need for privacy and cybersecurity.

Sustainable financing and operational excellence

For the second panel, Boucher, Basumatary, and Sunway Healthcare Group Finance Director Chelsea Cheng talked about sustainable healthcare financing in a discussion led by

Pureland Group Partner Chris Hardesty

From a hospital’s perspective, Boucher highlighted the importance of taking a whole-of-society approach and considering the human factor in financing decisions. He stressed that employees must be treated with dignity and respect, whilst other costs can be cut by reducing waste. From a patient perspective, Cheng noted that patients tend to do financial modelling based on best-case scenarios. As such, she believes healthcare financing should be managed with a whole-village