The challenge of speed: Healthcare
The challenge of speed: Healthcare
About the research The report is based on a survey of 461 senior, Europe-based executives. Of these, 59 work in the healthcare sector, including hospitals, medical equipment manufacturers and pharmaceutical companies. More than half (52%) of respondent companies have annual incomes over US$500m. The survey sample is senior, with 49% at C-level or above, and a further 23% senior vice presidents, vice
presidents or directors. In addition, The Economist Intelligence Unit conducted four in-depth interviews with healthcare leaders, as well as substantial desk research. This article aims to offer some guidance to managers in healthcare hoping to drive greater process speed and harness the potential of changing technologies to better serve their organisational goals.
The challenge of speed in healthcare as technology puts its foot on the accelerator The healthcare sector needs to change faster. There is pressure to improve existing administrative processes and interoperability between systems, while at the same time increasing the awareness of patients and the skills of healthcare professionals. How else can the sector modernise quickly enough to deliver the preventive medicines and personal health support required to meet the growing demand? In a survey conducted to better understand the speed of change, a mere 24% of healthcare respondents said that they can rapidly adapt to unexpected market opportunities. This explains why 98% of those surveyed are feeling at least some level of personal pressure to adapt to rapid changes. Technology change is fuelling this pressure to adapt ever more quickly. Respondents in the survey believe that new technology platforms will have the biggest impact on their business models over the next three years, in particular the growth of data and analytics. But as the experts interviewed for this report explain, real agility for the healthcare sector requires that organisations learn to adapt their core business processes while mastering their use of technology. This, many healthcare executives believe, will be where they will see the greatest change in the coming years, and where most value can be delivered. Š The Economist Intelligence Unit Limited 2014
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