Skip directly to search

Skip directly to content

 

Four Stakeholders Who Win the Most When Healthcare Innovates

 
 

The Endava Experience | Adrian Sutherland |
24 January 2023

Innovation without intent. A process without a plan. When the latter is missing, the former doesn’t have its desired impact.

In healthcare, innovation’s intent is people. From X-rays and pacemakers to wearables, innovation has always been about creating solutions that improve the treatment experience for patients – and practitioners.

At the end of the day, innovation is all about making treatments accessible, affordable, and effective — not just for the people who need them, but also for the medical professionals and decision-makers who can drive and inspire change. Wondering how? Read about four stakeholders using innovative technology to transform the industry.

1. Healthcare providers: According to a Mayo Clinic study, 63% of physicians reported experiencing at least one aspect of burnout in 2021. The pandemic was a trying time that forced many administrators to make tough decisions and push their staff members to the limit to keep the quality of care consistent.

Innovation of any kind can help reduce that stress and, in turn, improve treatment quality. Remote consultations, telemedicine, and virtual wards were becoming increasingly popular features before 2020. Now? They’re must-haves.  A McKinsey report reported that hospitals examined 50-175 times more patients via telehealth during the pandemic’s initial months than previously.

From a diagnostic standpoint, AI health technology can be a resource used by lab techs and researchers to get automated, real-time insights that help providers act quicker. Practitioners who want to better assist their patients can prompt the kinds of unique solutions that make treatment more effective and patients more engaged.
 
2. Insurers: Innovation always comes at a price. In healthcare, however, that mindset becomes complicated. The patients that need the care sometimes get priced out of the treatments they need most — and that should never be the case.

Innovative healthcare technology and practices let payers' direct patients and providers toward affordable and effective solutions. That can mean supporting up-and-coming virtual and remote treatments or innovations that help carriers reduce their own risk. Insurers can also apply predictive models to their processes to better assess who is insurable.

The less risk an insurer’s patients carry, the less financial load other clients must bear. This way, innovation helps insurance payers better serve the public.

3. Pharmaceuticals: Successfully creating a new pharmaceutical treatment is a significant ask. On average, the approval of one new drug takes 10-15 years and costs more than $1 billion. And those are the lucky few — 90% of new medication candidates don’t make it past the trial period.

The amount of time and money put into the approval process makes it disheartening when the final answer is “no.” But innovative development and delivery processes can help with successfully creating those treatments and getting them to the people who most need them.

In research and development, non-traditional approaches like genomic and personalised treatments can address an ailment more directly. The more focused a medication is on certain traits of an ailment, the quicker it potentially can be moved through trial and into stores and care facilities where they’re most needed.

Innovation can also apply to how medications are tested, prescribed, and managed. Virtual and remote solutions aren’t just in or outpatient resources. Patients and providers can connect via technology to check in or adjust. Whatever is best for the patient, the pharmaceutical industry can answer the call.

4. Industry newcomers: Legacy facilities and industries aren’t the only ones with something to gain from healthcare innovations. Non-traditional names and companies are entering the fray more than ever to make a stamp in devices, pharmaceuticals, and more.

Amazon Pharmacy is up and running, while other companies are building their names as early entrants into the virtual and remote care fields. While some companies might not have the brand awareness to make a splash, embracing innovative healthcare technology and connected healthcare solutions builds goodwill with patient providers looking for potential vendors.

No matter which stakeholder an innovation is designed for, its ultimate goal is to have an impact on the entire industry. Healthcare innovation is just scratching the surface right now — and we are excited to see what’s next. To learn more about the new frontiers facing the industry, download our “Delivering Innovation for the Connected Patient” whitepaper today!

Adrian Sutherland

Principal Healthcare Architect

Adrian is an experienced solution director, architect and designer with 25+ years of diverse technology experience. Specialising in healthcare IT, he has worked with major national healthcare organisations in the UK, Europe, Australia and the US as well as on numerous projects for providers and payers. As an expert in healthcare and digital transformation, Adrian is making significant contributions, like authoring whitepapers on enhancing the patient experience, delivering keynote speeches on future wellness and well-being and addressing the role of information design in patient care management and medication alert fatigue at various conferences.

 

Related Articles

  • 24 January 2023

    Four Stakeholders Who Win the Most When Healthcare Innovates

  • 14 December 2021

    From Global Pandemic to Holiday Spirit – a Q&A With Some of Our Senior Execs

  • 18 December 2020

    Celebrating 20 Years of Endava – with Julian Bull

  • 08 December 2020

    Celebrating 20 Years of Endava – with Rob Machin

  • 13 October 2020

    Ada Lovelace Day: Celebrating Women in STEM

 

From This Author

  • 18 April 2023

    Alright, I’m Adrian Sutherland

  • 14 April 2023

    How Synthetic Data Could Solve The Patient Privacy Dilemma

  • 28 February 2023

    4 Healthcare Innovations That Can Benefit People and Profit

Most Popular Articles

An Anatomy of the Data-Driven Retail Supply Chain
 

Transportation & Logistics Insights | Jeremy Eaton | 25 May 2023

An Anatomy of the Data-Driven Retail Supply Chain

BNPL Regulation to Protect Consumers and Control Third-party Lenders
 

Banking | Annmarie Mahabir | 23 May 2023

BNPL Regulation to Protect Consumers and Control Third-party Lenders

How Offer and Order Management Systems Are Expanding The Aviation Business Model
 

Mobility | Joachim Zintl | 17 May 2023

How Offer and Order Management Systems Are Expanding The Aviation Business Model

Salut! I’m Adriana Calomfirescu
 

Meet the SME | Adriana Calomfirescu | 16 May 2023

Salut! I’m Adriana Calomfirescu

Hi, I’m David Boast
 

Meet the SME | David Boast | 15 May 2023

Hi, I’m David Boast

The Business Impact of Fan Engagement: How to Leverage Technology to Improve Loyalty
 

Innovation | Robert Milner | 12 May 2023

The Business Impact of Fan Engagement: How to Leverage Technology to Improve Loyalty

Staying Relevant – Why Merchants should Embrace Alternative Payment Methods
 

Payments | Steven Purton | 09 May 2023

Staying Relevant – Why Merchants should Embrace Alternative Payment Methods

How IoT is Changing Insurance
 

Insurance Insights | Vince Francis | 02 May 2023

How IoT is Changing Insurance

A Veteran Game Developer's Perspective on Tool Development
 

Automation | Thomas Bedenk | 26 April 2023

A Veteran Game Developer's Perspective on Tool Development

 

Archive

  • 25 May 2023

    An Anatomy of the Data-Driven Retail Supply Chain

  • 23 May 2023

    BNPL Regulation to Protect Consumers and Control Third-party Lenders

  • 17 May 2023

    How Offer and Order Management Systems Are Expanding The Aviation Business Model

  • 16 May 2023

    Salut! I’m Adriana Calomfirescu

  • 15 May 2023

    Hi, I’m David Boast

  • 12 May 2023

    The Business Impact of Fan Engagement: How to Leverage Technology to Improve Loyalty

  • 09 May 2023

    Staying Relevant – Why Merchants should Embrace Alternative Payment Methods

  • 02 May 2023

    How IoT is Changing Insurance

  • 26 April 2023

    A Veteran Game Developer's Perspective on Tool Development

  • 24 April 2023

    How Digital Ecosystems Enhance the Healthcare Experience

  • 21 April 2023

    Green machines: how tech can help companies hit Net Zero targets

  • 20 April 2023

    The Role of People and Technology in the Future of Underwriting

  • 19 April 2023

    Media 2030: Why Advertisers and Publishers Are Racing To Find New Strategies

  • 18 April 2023

    Alright, I’m Adrian Sutherland

  • 14 April 2023

    How Synthetic Data Could Solve The Patient Privacy Dilemma

  • 11 April 2023

    Payments makes the world go round! How banks can get creative

  • 06 April 2023

    Higher Fidelity: Good Outcomes and Harnessing the Challenge of FCA's Consumer Duty

  • 05 April 2023

    AI in Pharma: How Machine Learning is Revolutionising Every Step in Drug Development

  • 04 April 2023

    Hello! I’m Leane Collins

  • 31 March 2023

    The Dos and Don’ts of Successful Carve-Outs in Private Equity

  • 30 March 2023

    Cage of Reason: FCA's new Consumer Duty heralds the rise of the 'Reasonable Insurer'

  • 28 March 2023

    A legal view on the ownership and future of AI-generated works

  • 24 March 2023

    Championing Women in Tech

  • 23 March 2023

    5 Ways Capital Markets Firms Can Ensure Resilient Operations to Improve Credibility and Efficiency

  • 15 March 2023

    Buenas! I’m Leticia Chajchir

  • 14 March 2023

    4 Ways to Improve Customers’ E-Commerce Search Experience

  • 28 February 2023

    4 Healthcare Innovations That Can Benefit People and Profit

  • 21 February 2023

    Hey, I’m Lewis Brown

  • 17 February 2023

    Top Considerations for Financial Services Providers Entering the Cross-Border Payments Space

  • 13 February 2023

    Better Together: Harnessing the Power of Digital Ecosystems

  • 09 February 2023

    What to Include in a Customer Re-Engagement Content Library

  • 07 February 2023

    Supercharging Wealth Management with Hyper-personalisation

  • 02 February 2023

    How Innovating the Insurance Customer Journey Creates a Competitive Advantage

  • 30 January 2023

    G’day, I’m David Marsh

  • 26 January 2023

    Empowering Underwriting and Unlocking Revenue with Legacy Insurance Data Sets

  • 24 January 2023

    Four Stakeholders Who Win the Most When Healthcare Innovates

  • 23 January 2023

    Journey to the Centre of the Cloud with AWS – Part 3

  • 20 January 2023

    Journey to the Centre of the Cloud with AWS – Part 2

  • 18 January 2023

    Journey to the Centre of the Cloud with AWS – Part 1

  • 17 January 2023

    The 4 Most Common Mistakes in Retail Site Design

  • 13 January 2023

    Boost and bolster your innovation. Three tips to help get it to the next level.

  • 10 January 2023

    5 Questions in Smart Energy That Will Define the Net Zero Transition

We are listening

How would you rate your experience with Endava so far?

We would appreciate talking to you about your feedback. Could you share with us your contact details?