Prime Highlights
- IHH Healthcare’s Ashok Pandit said demand, costs and expectations were rising faster than healthcare systems could adapt, requiring a redefined care stack.
- Dr Indu Bhushan stated that value in healthcare is an outcome while cost is only an input.
Key Facts
- IHH Healthcare Singapore is a major private healthcare group operating hospitals and health services across the region.
- FutureHealth.Now brought together over 300 leaders from government, healthcare, technology, finance and investment sectors.
Background
IHH Healthcare organised the second edition of its regional leadership conference, FutureHealth. Now, in Singapore, bringing together more than 300 leaders from government, healthcare, technology, finance and investment. The event, themed ‘Redefining the Care Stack’, discussed how stronger partnerships across the healthcare ecosystem could address changing patient needs.
Ashok Pandit, Group Chief Corporate Officer of IHH Healthcare, opened the conference by describing the care stack as the mix of people, technology, financing and policy needed to support quality healthcare. According to him, healthcare systems are under unheard-of strain since demand is growing more quickly than capacity and expenses are rising more quickly than affordability. He noted that the approach used for the past five decades would not suffice going forward. He stressed the need to bring together science, technology, capital, policy and trust to improve outcomes, access and value for patients.
One notable session focused on the issue of cost versus outcome, and the panel was led by Dr Indu Bhushan, ex-CEO of the National Health Authority of India, along with delegates from Singapore’s Nanyang Technological University and Prudential Hong Kong. Dr Bhushan said that value was a product of an outcome while cost is an input, and then he enumerated three criteria to consider in adopting new health technology: improvement, cost-effectiveness and access. One of the main hindrances identified by him was the unawareness of available healthcare options, especially in India, due to its diversity.
Additionally, IHH Healthcare of Singapore launched their program called Healthspan, which focuses on proactive and continuous health management via preventive screening and genomic health services.
