Improved business models needed if eHealth companies are to support older people effectively

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In order for eHealth companies to provide effective health and social care services to older people, they need to create new sustainable and scalable business models.

A new research treatise by Professor Feng Li explores the need to correct the slow fragmented development of eHealth. This paper discusses the well-being and well-being of older people, their relatives, and their caregivers, as well as electronically provided healthcare devices and services that provide care to the home and support extended independent living. There is a special focus on how to improve.

Despite the rapid development of telemedicine, telemedicine and telemedicine, the overall spread of eHealth services has not been adopted on a large scale in most countries. This is expected to bring greater demand to the health and social care sector in the future, despite the strong underlying demand in a rapidly aging population.

The COVID-19 pandemic has significantly accelerated the adoption of telemedicine when the patient’s physician’s ability to see is severely restricted. But whether the emergency measures adopted during the pandemic will be revoked at the end of the crisis, despite the potential to improve access to care, patient outcomes, and more efficient medical and social care systems. Is unknown. Long-term success Information sharing Exchange, improved access and integration of technology, sustainable and scalable business A model for increasing user recruitment and acceptance and creating financial surpluses for providers.

Professor Lee states that there is a “big gap” between British companies and mainstream markets. According to the survey, most of the companies surveyed (representing the full range of eHealth experienced practitioners in the healthcare and social care sector) have never recorded profits from mainstream businesses and have negative net worth. Yes, unprofitable and unsustainable. Many of them relied on supplementary income such as research grants and government grants. Also, if local governments use large-scale services, the products need to be more accessible and cheaper, but many of these services should be carried out in parallel with existing NHS regulations. Is often.

Conversely, it turns out that the international model, where companies often diversify their product lines and attract large investors, employs industrial partnerships compared to UK third-sector organizations and new start-ups. I did.

Professor Lee says the existing method business model It can be adapted to improve efficiency and effectiveness through state reimbursement and purchasing systems, insurance fund reimbursement, or self-purchasing markets.

The authors suggest that while there are benefits to eHealth systems for consumers and producers, there are important cultural barriers to overcome. service There is universal health insurance in the UK, but if it is established. They believe that solutions can include personalization of products and services, as well as close collaboration with key stakeholders and various industries.

Professor Feng Li, chair of information management at the Business School (formerly Cass) and co-authored with Dr. Festus Oderanti, Dr. Marija Cubric, and Dr. Xiaohui Shi, said: Social care by the rapidly aging population requires new market development of eHealth products and services. “

“To develop scalable business solutions, entrepreneurs need to understand how eHealth is used today and in the future, and how they are integrated into people’s lives. “

“This is especially necessary in the UK, which is often regarded as the world leader in eHealth innovation, but this position has declined rapidly in recent years. International eHealth companies have a variety and many to the UK market. In the case of, we are looking for a more successful route. The UK needs to learn quickly if it doesn’t want to be swallowed by people with more thoughtful and ultimately sustainable strategies. ”

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For more information:
Festus Oluseyi Oderanti et al, Business Model for Sustainable Commercialization of Digital Healthcare (eHealth) Innovation for an Increasing Population, Technology prediction and social change (2021). DOI: 10.1016 / j.techfore.2021.120969

Quote: Improving the business model needed for eHealth companies to effectively support the elderly (13 July 2021) 13 July 2021 Obtained from ehealth-companies-older-people.html

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