Engaging Through Awareness: Purpose-Driven Framework Development to Evaluate and Develop Future Business Strategies With Exponential Technologies Toward Healthcare Democratization

Abstract

Industry 4.0 and digital transformation will likely come with an era of changes for most manufacturers and tech industries, and even healthcare delivery will likely be affected. A few trends are already foreseeable such as an increased number of patients, advanced technologies, different health-related business models, increased costs, revised ethics, and regulatory procedures. Moreover, cybersecurity, digital invoices, price transparency, improving patient experience, management of big data, and the need for a revised education are challenges in response to digital transformation. Indeed, forward-looking innovation about exponential technologies and their effect on healthcare is now gaining momentum. Thus, we developed a framework, followed by an online survey, to investigate key areas, analyze and visualize future-oriented developments concerning technologies and innovative business models while attempting to translate visions into a strategy toward healthcare democratization. When forecasting the future of health in a short and long-term perspective, results showed that digital healthcare, data management, electronics, and sensors were the most common predictions, followed by artificial intelligence in clinical diagnostic and in which hospitals and homes would be the places of primary care. Shifting from a reactive to a proactive digital ecosystem, the focus on prevention, quality, and faster care accessibility are the novel value propositions toward democratization and digitalization of patient-centered services. Longevity will translate into increased neurodegenerative, chronic diseases, and mental illnesses, becoming severe issues for a future healthcare setup. Besides, data privacy, big data management, and novel regulatory procedures were considered as potential problems resulting from digital transformation. However, a revised education is needed to address these issues while preparing future health professionals. The “P4 of health”, a novel business model that is outcome-based oriented, awareness and acceptance of technologies to support public health, a different mindset that is proactive and future-oriented, and an interdisciplinary setting to merge clinical and technological advances would be key to a novel healthcare ecosystem. Lastly, based on the developed framework, we aim to conduct regular surveys to capture up-to-date technological trends, sustainable health-related business models, and interdependencies. The engagement of stakeholders through awareness and participation is the key to recognizing and improving healthcare needs and services.