This session was all about the BioBusiness Revolution - Healthcare and Biomedical sciences. The video that we watched at the beginning of the class really fascinates me. It illustrates a possible future for the healthcare sector, one that enables the professionals to monitor their patients through a touch screen kind of interface and even allow patients to check their own health status. I found the possibility of such a future really intriguing and it would definitely be an exciting change in this particular sector.
Our class had a discussion if such a change would be possible in the near future, say 2020, and I think the general consensus was that yes it is indeed very much so possible! With the current advancement of technology, the required technology for such a future is already being developed, thus I personally do believe that this future healthcare landscape will be possible. There would of course be some resistance to such a drastic change, and the initial implementation costs may be high, but I feel that over time, people will get accustomed and accepting of such changes. Of course it is also important to let them know of the benefits of such a shift, like for example the costs savings in terms of higher efficiency, lesser paperwork and so on.
One of my classmate's concern was that less developed countries would not be able to benefit from such high technology advancements in the healthcare sector and stand to lose out, deepening the rift between them and the more developed and affluent countries. However, Prof mentioned that such technology are actually being tested out in the less developed countries. This was comforting news to me because I feel that they are the people who need the greatest improvement in healthcare first. If by providing such technology to them, their health can be carefully and efficiently monitored, I believe that the mortality rate in these places would see a decline. This would definitely help in moving towards achieving the MDGs.
I also felt that welfare state like Britain would definitely benefit greatly from a healthcare sector that is utilizes technology to provide more efficient services. Because of the free medical services, Britons have always complained about the long waiting time and the substandard care provided. With the possible changes to the healthcare sector in the near future, I would hold the hope that such complaints will become rarer.
One of the readings was about how medical professionals were opposed to disruptive changes in the healthcare sector because they felt that their livelihoods were being threatened with each introduction of new technology that gave patients better alternatives. For example, Reading 4 mentioned the introduction of miniature blood glucose meters for patients with diabetes, enabling them to get far higher quality care more conveniently. This greatly reduced the demand for services by endocrinologists. Similarly, with greater implementation of technology within the healthcare sector, there may be a reduced demand of services for some healthcare personnel because the patients themselves can monitor their own health through an interactive interface and similar concerns may arise, thereby hindering the process of implementing such revolutionary changes to the industry.However, I think that we have to do things for people beyond ourselves and not let our own selfish interests get in the way of a better healthcare system for the people.
With new technology in the healthcare sector, higher quality, greater convenience and lower cost can actually be achieved. Disruption is the fundamental mechanism through which a higher quality, more convenient and lower cost health care system is built. If we all maintain such a mentality, especially the leaders in the healthcare sector, disruptive technology can be facilitated to ensure a greater access to healthcare, and not less. It will in fact enable healthcare professionals to move competently upward.Thus, very much like the rising star and falling star concept, for healthcare industry to be a rising star, industry leaders have to maintain an open minded view, see the possibilities available and not work together to prevent disruptions from happening. Only then will the people be able to enjoy high quality healthcare at a low cost.
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