Sector Spotlight - HealthTech’s changing Business Models

May 5, 2023
  |  by 
Trishal Kaur

What’s going down?
With the ever-changing landscape, it's no surprise that healthcare systems and many life sciences organisations will continue to face new demands. From the increase in competition to the changing needs of consumers and the need for greater transparency, it is quite evident that business models will need to constantly evolve.

Why should APAC businesses care?

In the next few years, the use of AI will be more commonplace from enhancing system efficiency, improving patient outcomes, to administration and clinical decision support. In recent news, the National University of Singapore's Yong Loo Lin School of Medicine has established a new eye clinic to promote community-based eye care and is leveraging AI for screening and detecting eye diseases.

Why are we at Bud excited about this?
Data volume in the healthcare sector continues to grow exponentially, with the increase of digital adoption. With such large flows of data, it will be interesting to see the development of new legal frameworks surrounding the access, sharing, and hosting of health data.

Furthermore, in the APAC region, more than 55% of healthcare organizations are expected to have data governance frameworks in place by 2026, thus indicating that this will be a key focus area for many organisations in the next few years.

What’s next? 

The increased use of AI in the health sector has raised concerns about its risks and ethics. A number of regulatory frameworks will be put in place in the coming years, particularly around the development, use, and governance of AI in the health sector.

This blog was first published on Bud in Brief - a monthly newsletter by Bud Communications. If you enjoyed the read, subscribe here.