Analysts’ vision of the future is that by 2035, healthcare will be proactive, automated, robot-enabled and accessible virtually anywhere.
Artificial Intelligence and consumer-centric healthcare services are leading to a change in healthcare.
Analysts are expecting $1 trillion of annual healthcare spending to shift away from fragmented, infrastructure-heavy models and toward empowered “super consumers” and a digital-first system of care, according to new PwC analysis.
The shift is already taking shape in the form of virtual-first delivery, AI-supported decision-making and interoperable, consumer-centered platforms, the report said.
Analysts’ vision of the future is that by 2035, healthcare will be proactive, automated, robot-enabled and accessible virtually anywhere.
“Technology will no longer augment the system – it will become the system,” authors wrote.
Early adoption is seen in AI algorithms designing drugs in months instead of years, robotic-assisted surgeries that are helping to reduce complication rates and home healthcare programs that are slowly replacing inpatient beds, the report found.
These advances are setting the stage for a wave of breakthroughs, with the firm predicting that in the near future, robotics will perform more functions, AI will drive drug discovery and diagnoses and reduce administrative burden, and health systems will share interoperable application programming interfaces, streamlining data flow and accelerating care delivery.
Authors maintain that by 2035, $1 trillion in annual healthcare spending will shift away from outdated cost pools, like administrative overhead and brick-and-mortar facilities, into next-generation models such as AI-enabled intake and in-home care.
This, they said, will trigger a number of downstream effects that could transform the industry.
WHAT’S THE IMPACT
One effect, according to PwC, is that chronic care will shift from managing to anticipating disease, thanks in large part to AI engines that detect risks before symptoms emerge. Predictive algorithms are flagging early deterioration in conditions before a hospital stay is required, and digital twins and genomics enable treatment plans tailored to an individual’s biology, behavior and lifestyle, shifting things to more of a personal prevention model.
Another downstream effect is that innovation at scale will transition the bulk of routine and chronic care to a home setting, with hospitals evolving into specialized hubs for trauma, surgery and acute care. This will be made possible through technologies such as continuous glucose monitors, connected inhalers and wearable heart sensors, which generate real-time streams of health data that allow physicians to intervene earlier and more effectively.
PwC is also predicting the emergence of “super consumers,” a segment of informed, technologically empowered patients with household incomes of $150,000 or more. They’ll choose how they spend their healthcare dollars and will help drive the creation of a next-generation health system, “paying out of pocket for innovations that government and commercial players will later build and scale,” analysts said.
All of this, said PwC, will result in the collapse of the traditional, infrastructure-heavy healthcare model. What will likely replace it is a model in which most care shifts to the home, enabled by wearables, implantables and virtual command centers that orchestrate treatment remotely, while AI and robotics automate routine tasks.
Success will require a new operating model, analysts said – one that’s consumer-first, virtual by design and data intelligent.
“If you’re not leading with algorithms and insight, you’re falling behind,” analysts wrote.
THE LARGER TREND
Eighty-eight percent of health systems are using artificial intelligence internally, but just 18% have a mature governance structure and fully formed AI strategy, according to an August report from the Healthcare Financial Management Association and market research company Eliciting Insights.
Governance is lacking despite the fact that 71% of survey respondents have identified and deployed pilot or full AI solutions in finance, revenue cycle management or clinical functional areas.
The use of artificial intelligence in healthcare is gaining popularity among physicians, found a February survey from the American Medical Association, though many remain guarded in their enthusiasm due to lingering concerns.
Jeff Lagasse is editor of Healthcare Finance News.
Email: [email protected]
Healthcare Finance News is a HIMSS Media publication.
