Georges
Chidiac, General Manager and SVP, SAICOHEALTH, explains why data
standardisation, transparency, cybersecurity and mergers & acquisitions are
top of the agenda for the GCC’s healthcare industry operators
Data
has always been of real importance in the healthcare industry, and in today’s
digital world, it is acting as a driver within the industry itself. In today’s
complex healthcare landscape, with a broad range of stakeholders playing a part
in the wider system, data standardisation has become more important than ever.
Data
puts the industry in a strong position. It fuels innovation in research and
offers a more complete picture of patient health while also improving patient
care and streamlining the way that healthcare providers can operate.
Data
standardisation is critical to our industry. But inefficiency is not an option.
Data collection can vary greatly from one organisation to another and incomplete
and inaccurate data collection can result in anything from slower
organisational workflows through to, patient matching issues and patient health
in jeopardy.
For
organisations to thrive and deliver efficient healthcare of great value, and
for a more efficient and accurate healthcare model, proper governance is
required, while training and coaching is needed for medical personnel to
emphasise the importance of relevant and consistent data for downstream
analytics.
In
healthcare, data standardisation provides a common language and set of
expectations that enable interoperability between systems, devices and medical
practitioners. To seamlessly improve the overall coordination and delivery of
healthcare, data exchange and standards should permit meaningful data sharing
between clinicians, lab assistants, hospitals, pharmacies, insurance providers
and patients.
Achieving
transparency in healthcare is key
Technology
advancements and waste in the healthcare service delivery process are factors
amongst others that underline a pressing need for better outcomes in healthcare
affordability. On one hand investment is required; on the other, providers must
deliver more cost-effective solutions. This seemingly contradictory dilemma can
be addressed through greater transparency in costs and tariffs, alignment on
quality metrics, the development of centres of excellence and a common,
industry-wide approach to technology use.
There
is increasing pressure across the industry on providers, insurers and even
pharmaceutical companies to offer cost transparency to patients. While it’s
challenging for providers or an insurer to come up with an accurate cost for a
healthcare service – given the complexity associated with a healthcare costing
exercise – the industry needs greater transparency. Patients must understand
how cost enhances experience; they need visibility on how much they need to pay
upfront and what amount can be reimbursed later. For the most part, patients
remain in the dark about what they will be asked to pay when they visit a
healthcare centre. Without transparency, patients can’t ‘shop’ for the right
healthcare provider and physicians can’t make cost-conscious decisions. Indeed,
transparency will be the watch-word going forward.
Cybersecurity is key in a
complex healthcare space
Technology
is changing every industry every day and healthcare providers are not immune to
this change, we can see it with data and with the tools that will help us
achieve greater transparency. While most recognise the efficiency and service
delivery benefits derived from connected healthcare technology, including big
data, analytics and the ultimate impact on competitiveness and bottom-line
profitability or affordability, there are inherent risks associated with
technological advancements.
Cybersecurity
risks are growing at an alarming rate internationally and while data is key to
efficiency and competitiveness, failure to protect data can leave providers and
patients vulnerable.
The
issue has been brought into sharp focus in the UAE where important changes are afoot
for any organisation which gathers, processes or transfers electronic health
data originating in the Emirates. New data protection measures and regulations
around the use of a centralised database managed by the UAE’s Ministry of
Health, which include a general ban on transferring health data outside the
Emirates, will undoubtedly have a significant impact on healthcare service
providers operating domestically.
In
February, the UAE issued Federal Law No. 2 of 2019, which regulates the use of
information technology and communications (ITC) in the healthcare sector. The law
aims to lift the bar on health data protection and ensure the sector operates
in line with best international practice.
Having
come into effect in May, the law advances regulation of sensitive data – a move
I expect to see replicated across the region. As one might expect, patient
protection and confidentiality are key. Applying to all UAE-based healthcare
service providers – whether onshore or offshore, i.e. operating out of the
country’s many free zones, including Dubai Healthcare City – the law extends to
health insurance providers, including brokers or other services which directly
or indirectly involve the handling of electronic health data.
When two become one –
Mergers and Acquisitions (M&A) is the way forward
Most people associate the term M&A with large,
high-profile companies combining into a single entity. While the M&A
concept is the same in the healthcare sector, i.e. two or more healthcare or
insurance providers integrating to become a larger entity, the impact on
individuals’ lives is much more significant.
M&As in the UAE and wider region should realise
a reduction in costs by consolidating areas such as IT and supply chain
management. When clinics and hospitals merge, patients often benefit from
better trading terms between insurance and healthcare providers. M&As also
enable the new entity to use saved funds to improve patient services and
empower insurers to expand benefits on existing plans and patient access.
Greater size often means increase in expertise, efficiency, availability of
resources and purchasing power, thereby creating and elevating economies of
scale.
There are undoubtedly challenges around M&As in
healthcare, specifically due diligences, identifying synergies, standardizing
procedures post- M&A, choosing the right technology, and adhering to a new
culture and way of working. As with M&As in any industry, there can also be
problems with blending disparate business profiles, organisational structures
and assuring quality control. That said, the financial advantages most
certainly outweigh the negatives in healthcare M&As, when integrated
correctly. By merging, healthcare entities can create real strength and depth
in services, meaning patients receive optimal best care.
Healthcare
providers in the GCC stand at a crossroads and there is a genuine chance to
make improvements that will benefit the consumer, the industry and the business
itself. Efficiency is key to this opportunity and healthcare providers should
take the opportunity to consider their options in data, transparency and
cybersecurity.