TECHNOLOGY
maintenance, service, training, installation, facilities and even expert personnel all into a single monthly payment structure. Most healthcare institutions are increasing their deployment of pay-for-usage arrangements around a particular piece of equipment or individual facility – usually based on some form of leasing structure. These allow the monthly cost of access to essential digitalised technology to be aligned with the rate of benefit being gained, such as reduced diagnostic error rates, improved time per procedure, more rapid triage, and wider access to healthcare services. As demand for healthcare increases, new financial solutions are required for healthcare institutions to keep up with the pace of digital transformation and provide patients with improved healthcare outcomes without using precious capital. If healthcare organisations do not invest in digital transformation, they are effectively denying important benefits to taxpayers and patients, whether in terms of improved patient outcomes, operating efficiencies, or access to personalised precision medicine. Earlier, more accurate diagnosis and intervention, followed by precision therapies, reduces the proportion of morbidities that become acute or chronic. More accurate surgeries prevent re- admissions or later-life complications. Patient monitoring provides early alerts that save
lives and halt the progression of a condition. Remote, online connections to clinicians, technicians and equipment improves access to healthcare. Through smart finance solutions, healthcare systems may begin to invest in the top three areas of digitalisation and reap the benefits of digitalisation without ‘freezing’ unacceptable levels of funding.CSJ
Chris Wilkinson is the head of sales for healthcare and public sector at Siemens Financial Services, UK.
References 1 Age UK, Later life in the United Kingdom, May 2019 2 The Health Foundation, A Critical moment: NHS staffing trends, retention and attrition, February 2019
3 The Heath Foundation, NHS staff shortages put long-term vision for primary and community care at risk, Feb 2019
4 The Heath Foundation, NHS staff shortages put long-term vision for primary and community care at risk, Feb 2019
5
GOV.UK, Health Secretary announces £250 million investment in artificial intelligence, 8 Aug 2019
6
GOV.UK, UK to innovate new life-saving treatment and diagnosis technology, 23 Jul 2019
7
GOV.UK, Artificial Intelligence to help save lives at five new technology centres, 6 Nov 2018
8 Ibid 9 Technology Networks, Going Digital: a Major Milestone for UK Cancer Diagnostics, 10 October 2018
10 Ibid 11 Siemens Financial Services, Priority Investment, Part 1, November 2019
12 The Health Foundation, Emergency hospital admissions in England, May 2018
13 Deloitte, How digital technology is transforming health and social care, 2015
14 Digital Health, A 24-hour ‘video chat app’ aiming to slash waiting times launches across London, 7 November 2017
15 NHS, Implementation of telemedicine at Airedale NHS Foundation Trust, 13 Feb 2019
16 Ibid 17 Ibid 18 Gov UK, Guidance: Digital health and care, 20 Nov 2018
19 Siemens Financial Services, Priority Investment, Part 2, November 2019
20 Verdict, eTriage system aims to transform urgent care centres, 15 Apr 2019
21 Ibid 22 The HIMSS Analytics Electronic Medical Record Adoption Model (EMRAM) incorporates methodology and algorithms to automatically score hospitals around the world relative to their Electronic Medical Records (EMR) capabilities. This eight-stage model measures the adoption and utilization of electronic medical record (EMR) functions.
23 Deloitte, How to deliver better healthcare across Europe, July 2016
24 Siemens Financial Services, Priority Investment, Part 3, November 2019
Mediplus TIVA Sets Dedicated infusion delivery systems
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OCTOBER 2020
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