The Business APAC Cloud Disruptors of 2019 Final File_Cloud | Page 23

Ÿ Competitor analysis: Competitor analysis allows the
the privately owned providers may get public finances and
operate in competition with publically owned providers.
Here, the competitors give greater roles to the consumers by
offering them fix prices on non-priced aspects for care. The
consumers in this case have a choice over which provider
they would opt, for the same type of care. In addition,
health systems can provide customers with choices to
choose from even if the provider is not competing.
physician to use the referral data and find which
competitor receives the most referrals. Moreover, it also
helps to learn about the organizations which might make
the best partners based on referral volume.
Ÿ Artificial Intelligence: Disruptive technologies such as
AI can help the patients to schedule doctor appointment
analysing severity symptoms, monitor health status, etc.
Further, as per the situation, it could notify a human nurse
and keep the homecare assistants fully informed about the
progress of the patient. There are few innovations in
which smart bots help in healthcare services, the bots are
provided with chat messaging service.
Going ahead, the competition can be divided into following
types of market competitions
Ÿ Competition in physician dominant market
This is considered as non-price competition which is for the
improvement of quality. Here, physicians dominate the
distribution of hospital resources and treatment related
things along with the choice of hospital. In this case, the
hospital basically competes for patients through efforts to
attract physician but competition of hospital services is
greatly dependant on its location, quality as witnessed by
physicians, and facilities.
Ÿ Blockchain in healthcare
Here, a record system is created using Blockchain which is
independent of EMR’s controlling data and today, various
electronic medical record systems are used, each having its
own language for representing and sharing data.
Primary care should be in focus
Ÿ Competition in the insurer dominant market
There are supporters and opponents of the competition in
the healthcare industry. On one hand, competition improves
the efficiency and productivity of the solutions, while on the
other hand, it increases excessive of pressure and turn
things around in not so good ways. Therefore, in order to
create a better healthcare industry, presence of healthy
competition is a must with sole focus on patients and their
primary care.
In this sector, hospitals have to compete for inclusion of
insurers’ provider networks and also try to control costs
effectually since both have a more crucial role to play in
this market. Ultimately, the most important factor in
acquiring contracts and retaining patient base is price.
According to some reports, the competition in the
healthcare sector could not improve the efficiency as many
times the public and private insurance companies pay as
much as three quarters of the bills. Moreover, there are
certain blockades in the competition such as limited
reimbursement based incentives as the providers are not
sufficiently compensated for delivering values. Even if the
providers have improved value, they are not properly
rewarded with increased market share giving inadequate
market share incentives. One more reason of failure in
competition is that the participants are intended to divide
value instead of creating value thereby making the
competition zero-sum-based.
The use of new technologies and innovations in the
healthcare industry is proving to be a great base to increase
competition in the field. Few are mentioned below.
Ÿ Payer-Provider Analytics/data software: It helps the
organizations to claim data, analytics, and decision-
making tools based on the quantitative data.
businessapac.com
23
April 2019