Are you one of those people who spend most of the year getting in perfect shape for the summer only to see it slowly dissolve as you indulge in the best of what life has to offer while away from the office, prompting you to start all over again come fall? Or do you see summer as the time to put in all those work-out hours that you don’t find time for during the rest of the year? Regardless of how and when we focus on our health, we always spend time and effort long before we reap the benefits. There are, of course, many small gains along the way, like stress release and energy replenishment, but it’s likely you would agree that you work out for an overall healthier life – and you do it in a proactive way. Luckily, if you fail with your proactive lifestyle there is a whole industry to help you with whatever treatment and medicine you might need.
But here is an interesting thought: What if the health industry also applied a much more proactive or preemptive business model? Wearable technologies might be the bridge to actually make that shift happen. With instant and continuous diagnostic of your health status, it is reasonable to assume that the demand for preventative treatment and medicine will increase going forward. But, who will drive this industry past the tipping point? Will it be Google (that always comes up as a potential new player – whatever the industry)? Or will the first serious move come from an insurance player, telecom provider, medical company or why not ….
In September 2015, all of these different industries will meet at a health conference in Stockholm to discuss new and innovative business models with strong value propositions and lasting profitable revenue streams. So, what will it take, and which part of the value chain calls for the biggest shift? Is it the customer that must accept sharing very personal data or must the notion, culture and processes of established medical companies turn their current reactive-based approach in-side-out? Or, will it require a green field player who can view the industry through an entirely new perspective?
As part of a series of articles leading up to the conference, Cordial’s Björn-Erich Willoch has been asked to give his point of view on the health industry. Current and future.