With chronic diseases accounting for three-quarters of all healthcare spending in developed nations,life sciences companies will have to help patients adopt healthier behaviour and manage their diseases better,a report by Ernst & Young has said.
Pharma and healthcare companies will be required to fundamentally reinvent their business models to make them more patient-centric and better able to drive behavioural changes in consumers,according to Ernst & Young’s latest annual report ‘Progressions 2012 – The third place: healthcare everywhere’.
E&Y said with an increasing chronic disease burden and poor health indicators in India,there is a pressing need to influence patient behaviours to improve health outcomes.
Today,India is the world’s diabetes capital with 61.3 million diabetics in 2011 and projected to reach 101.2 million by 2030,coronary heart disease prevalence is projected to increase from 36 million patients in 2005 to 62 million by 2015.
The new imperative for life sciences companies to better understand patient behaviour and influence positive changes is being accelerated by two key trends,it said.
Given that India is among the world’s fastest-growing “Internet nations”,with more than 100 million Internet subscribers and a smartphone market to cross 80 million units per year by 2015,this would be an important enabler to improve accessibility of healthcare to a large population in the country thereby making healthcare ubiquitous.
“Almost every life sciences company,regardless of their product or offering,will soon be expected to help change behaviours and deliver better health outcomes” Hitesh Sharma,Partner & National Leader (Life Sciences),Ernst & Young said.
In the India context,while technology-based patient behaviour would yield good results for companies investing in these areas,it could also be interesting to see if a public- private-partnership model would be considered by the government to enable reach to the large Below Poverty Line population from an educational/prevention perspective using behavioural analytics,Sharma said.