20.6 C
Vientiane
Sunday, November 10, 2024
spot_img

China’s Future of Health: Empowering consumers through cross-sector collaboration and innovation key to systemic transformation

This Week

Deloitte model reveals four scenarios for China’s health ecosystem in 2030 based on critical uncertainties affecting the value chain

HONG KONG SAR – Media OutReach – 23 June 2022 – Deloitte China today releases China Health Ecosystem 2030: A Scenarios Analysis, a new study mapping the future of health in China by analyzing four scenarios that show how domestic and multinational pharma companies and other participants in the extended health ecosystem can assess its risks and opportunities to achieve sustainable development.

With people aged 65 or older forecast to make up almost 17% of the country’s population by 2030, a rapidly aging population means improving health care matters more than ever for the Chinese Government. Over the past decade, China has implemented major reforms to promote access to health care, infrastructure investment, universal health care funding, and value chain consolidation.

Deloitte China Life Sciences & Health Care Industry Leader Jens Ewert says, “Building on the progress of the past decade, China aspires to develop a sustainable health care system amid an increasingly aging society. The Healthy China 2030 program is an ambitious blueprint for transforming China’s health care, with a series of core aspirations and principles for the future of health.”

The pandemic has highlighted the urgency of health care transformation to tackle issues such as under-developed diagnosis and primary care capabilities, strained funding, the widening gap between demand and supply, and disparities in the quality and accessibility of health care across China.

“With health and wellness now fully embedded into policy-making at all levels, we are seeing increased emphasis on establishing comprehensive, multi-tiered health systems aimed at driving health management for all, while minimizing gaps in the quality of care between urban and rural populations. On top of this, disruptive and innovative health care models that combine tech, digital, and life sciences innovation are enabling more efficient delivery,” Ewert adds.

Four scenarios for China’s health ecosystem in 2030

According to Deloitte’s research and interviews with thought leaders and executives in China’s health care industry, the future of health in China will feature six mega trends: tiered health care; the rise of diversified funding models; innovation clusters; social-demographic shifts; empowered consumers; and smart health care.

Deloitte China Consulting Chief Strategy Officer Jiaming Li says, “To examine how China’s health care will evolve by 2030, we have developed a framework for scenario analysis based on critical uncertainties across social, technological, economic, environmental, and political aspects, enabling various players to better navigate China’s future health ecosystem and achieve sustainable growth by assessing strategic opportunities and risks.”

Deloitte China Life Sciences & Health Care Consulting Partner David Xie says, “Based on supply and demand dimensions– transformation of consumer needs and behaviors, extent and variety of market participation in health ecosystem, we have mapped out four major scenarios for the future of China’s health ecosystem: national infrastructure boom, precision health care innovation, thriving consumerization, and smart population health.”

With the degree of openness in policy regulation and the adoption speed of innovative technologies, any or a combination of these scenarios could happen by 2030 or even sooner. The central theme underlying these scenarios is the importance of placing the design of a compelling, innovative health care experience and empowering consumers at the heart of health care strategies. New business models are essential to prepare for this more customer-centric future of health, as data, technology, and analytics have become core competencies.

Building China’s future of health

The report also explores how incumbents and disruptors in health care can come together to propel the transformation of China’s health care industry.

Aspiring future of health players will foster boundless innovations rooted in seamless collaboration, as the digitization of operating and business models realizes the full potential of possibilities for digitized, shared health care. Bold new policies and regulations will also be pivotal to catalyzing these health care systems.

Deloitte China Financial Services Consulting Partner Duan Lei says, “As an important stakeholder of the health care industry, commercial insurance companies have been driving forward innovation in health insurance products while playing an active role in building a larger health ecosystem. They are also promoting integration between payment and services, creating a unique managed care business model with Chinese characteristics.”

Xie concludes, “The four future scenarios show fundamentally different pathways toward realizing the Healthy China 2030 goals, all of which require systemic transformations of the health ecosystem. Every sector of this ecosystem requires responsive, agile leadership as they collectively shape this vital industry.”

Read the full report here.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities (collectively, the “Deloitte organization”). DTTL (also referred to as “Deloitte Global”) and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see about to learn more.

Deloitte is a leading global provider of audit and assurance, consulting, financial advisory, risk advisory, tax and related services. Our global network of member firms and related entities in more than 150 countries and territories (collectively, the “Deloitte organization”) serves four out of five Fortune Global 500® companies. Learn how Deloitte’s approximately 345,000 people make an impact that matters at .

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region, including Auckland, Bangkok, Beijing, Hanoi, Hong Kong, Jakarta, Kuala Lumpur, Manila, Melbourne, Osaka, Seoul, Shanghai, Singapore, Sydney, Taipei and Tokyo.

The Deloitte brand entered the China market in 1917 with the opening of an office in Shanghai. Today, Deloitte China delivers a comprehensive range of audit & assurance, consulting, financial advisory, risk advisory and tax services to local, multinational and growth enterprise clients in China. Deloitte China has also made—and continues to make—substantial contributions to the development of China’s accounting standards, taxation system and professional expertise. Deloitte China is a locally incorporated professional services organization, owned by its partners in China. To learn more about how Deloitte makes an Impact that Matters in China, please connect with our social media platforms at www2.deloitte.com/cn/en/social-media.

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms or their related entities (collectively, the “Deloitte organization”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

The issuer is solely responsible for the content of this announcement.

Latest article