New advancements in healthcare are one of the few upsides of the pandemic. Recent insights estimate that $80.6bn was provided in equity and funding to healthcare players in 2020 across a total of 5,500 deals. The medical crisis and considerable investment that followed allowed many healthcare and pharmaceutical companies to innovate at previously unimaginable speeds. Across the industry, organisations successfully increased their efficiency and shifted away from physical interactions due to social distancing and lockdown restrictions. In the 2021 Healthcare Trends Report, 87% of organisations agreed that they need to react quicker to customer demands, and 89% said they had to accelerate their digital transformation plans. These leaps forward have benefitted the entire user journey from onboarding patients with automated forms to managing conditions such as diabetes and asthma via smart technology. Even though some of these developments were already in the pipeline, there’s no doubt that the events of 2020 made them a priority.
Our top recommendation for 2021:
Organisations should continue to invest in digital initiatives that deliver a personalised experience. When asked about their focus for investment, 33% of respondents said mobile check-ins, 30% said providing plans based on connected health data, and 31% said simplifying and automating online forms.