The healthcare services and technology market is growing rapidly, which creates opportunities, risks, and structural questions for companies in the sector and those in the broader healthcare value chain. Large-scale platform players have emerged to create active markets for healthcare products and services through integration of a range of different healthcare products and services so that consumers (patients and their family members) can better manage their own healthcare.
Different models indicate that different segments of the healthcare services and technology market are growing – and will continue to grow – at different rates. Newer, technology-enabled service areas are likely to have rapid growth, whereas the more traditional service sectors will probably experience growth in line with the rest of the healthcare industry. These areas will include:
- Software, platforms, and technology – These services are also likely to increase in importance, given that many processes are becoming more standardized and enabled by artificial intelligence, robotic process automation and machine learning;
- Business Services – Health technologies are being applied in the different business functions within the health care business value chain including the core administration, Logistics and Supply chain, payment services, medical services and broker/agency services;
- Consulting services – Digital solutions in business consulting, clinical consumer engagement and digital consulting among other operational services. These will be driven by the overall growth of the healthcare services and technology market;
- Advisory services – Solutions in medical cost and population health management, are also likely to grow rapidly due to cost concerns; and
- Data, analytics, and information services (including reporting services and benchmarking services) are likely to continue to have the fastest growth.
The AEL health technology business portfolio includes the following 2 solutions in software, platform and technology that enhance the delivery of health services in training and information management: Leap the mHealth platform and M-JALi.