Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in healthcare technology today launched its first edition of India’s Future Health Index (FHI), a research-based platform that helps to determine the readiness of countries to address global health challenges and build sustainable, fit for purpose, national health systems. The focus of this data is on the crucial role of technologies, access to healthcare services and efficiency of the healthcare system.

Commenting on the launch, Rohit Sathe, President – Philips India Healthcare says, “The FHI study confirms that India has a shortage of skilled healthcare professionals along with a low number of hospital beds. It also provides us with excellent insights about the awareness that healthcare practioners and the population, have about the role of technologies in aiding healthcare delivery. This readiness to adopt technology can be a key driver in delivering treatment to patients in tier II & III cities in India. This, in addition to government’s increased focus on providing healthcare access to all, will serve as an impetus to Philips in innovating solutions to deliver connected healthcare.”

KEY FINDINGS OF FUTURE HEALTH INDEX 2018

1. Lack of access, due to low skilled physician density and a low number of hospital beds, most impede value

o   India’s below average access score is driven by a lack of skilled healthcare professionals per 10,000 populations – 29 vs. 109 average, the lowest score across all countries 16 countries surveyed

o   Another barrier to value is the low number of hospital beds (7 per 10,000 population vs. 38 per 10000 on average), suggesting that healthcare needs cannot necessarily be met

o   While top hospitals and clinics in metro cities may boast of having cutting-edge technologies, semi-urban and rural areas are yet to fully leverage the potential of digital healthcare

2. Despite a lower-than-average data analytics score, Indian healthcare professionals are open to the use of futuristic technology (AI, virtual reality, etc.) in healthcare, even more so than the general population

o   Two-thirds (36%) of healthcare professionals believe AI health tracker wearables/apps on smartphones would have the greatest impact on improving healthcare today if it were available. Among the general population, one-in-five (18%) agree.

3. Healthcare professionals could become key promoters of connected care technologies, as they consider themselves highly knowledgeable about connected care devices and believe in a future where everyone owns them to manage their health, potentially boosting data collection and analytics in India

o   Seven-in-ten (73%) healthcare professionals are knowledgeable about connected care technologies, with one-in-seven (17%) saying they are extremely knowledgeable

o   About as many healthcare professionals (70%) see a future where everyone owns connected devices/computer software/mobile phone applications to help manage their health

o   9 in 10 healthcare professionals (89%) who have had any patients sharing information from connected care technology agree their patients understand how to properly use the devices

Post the success of Public Private Partnership (PPP) model of delivering healthcare in India, Philips with this survey will now be looking at tackling these challenges. It reveals India’s overall satisfaction with the healthcare system and digital tools that can play in delivering more integrated and sustainable healthcare. The inferences and learnings from this will help Philips to look at plausible answers and solutions through its various approaches.