HEALTHY values
Value-based healthcare, together with technology like AI, will the lead the way in increasing access to healthcare services.
What is the significance of value-based healthcare for Medtronic?
Medtronic is one of the first companies to explore value-based healthcare by collaborating with academic entities worldwide to structure and bring it to life. If a patient goes to a value-based healthcare center, his or her fee will be connected to the outcome; the better the outcome, the higher the fee can be. Value-based healthcare also shifts the focus to utilizing innovation to align value across the entire patient-care continuum. Thus, aspects like patient flow, recovery times, and inventory management will become more efficient, and better outcomes will be delivered without increasing infrastructures’ overall costs. With value-based healthcare, we can enhance global patient care by increasing accessibility and economic value in emerging markets where resources are already scarce.
“Data and measured outcomes will help drive value and accountability across the system.”
How can Medtronic help raise the healthcare standards in Dubai and the UAE?
Medtronic is working on different ways to transform healthcare systems. The Netherlands Obesity Clinic was launched in Dubai and Abu Dhabi, its first expansion outside of the Netherlands. We are starting to see patients go through our systems in the two clinics. We have been exploring areas such as expanding remote support to cardiac patients. We have also been successful in building relationships that provide physicians with training to contribute to outcome-based learning and take a step forward in addressing physician scarcity in the UAE. There are still more patients to serve, as the Middle East and Africa have about 1.5 billion people, with many underserved. In many African countries, patients still cannot access affordable healthcare due to limited infrastructure or healthcare professionals. Dubai has made it easier for us to access these markets, and through collaborations with capital funds organizations we are able to enhance access to health services.
How fast is AI being deployed in the medical world, and what are the more recent implementations worth celebrating?
The shift from pay-for-service models to outcome-based models intersects directly with technology like AI. Data and measured outcomes will help drive value and accountability across the system. AI can be deployed in a way that enables technologies to be remotely administered, help physicians that are new to therapy develop knowledge, and allow us to deliver better outcomes to patients. One of our achievements in this area is the AI-powered Sugar.IQ diabetes assistant, which empowers patients to control their blood glucose levels more effectively. Data analytics will continue to increase and evolve over time. But today, the biggest opportunity we have is to give physicians both clinical and behavioral data to work with. The combination of those two will help providers make informed decisions and more effectively treat patients.
What was the reasoning behind your recent acquisitions of Mazor Robotics and Abraaj Group Healthcare?
Our strategy has three main components: quality, accessibility, and cost. The first involves innovation to improve quality and outcomes, the second involves globalization to increase access, and the final one involves economic value. Mazor and Abraaj fit in perfectly with these three strategic pillars because Mazor is an innovative product that makes it easier for physicians to utilize surgery space, make surgery faster, and allow for better recovery. Abraaj was more about addressing accessibility, especially in terms of the investments Abraaj has made. It is now called Evercare in Pakistan, India, and Africa, where infrastructure has yet to be built and accessibility is still an issue.
Can you elaborate on your partnership with the UN on non-communicable diseases (NCDs)?
In underserved communities, NCDs are on the rise, and those affected often face major barriers to care. We have developed community-based care systems around the world to strengthen these care systems and help populations take control of their health. We are engaging in partnerships across the sector to accelerate responses to NCDs, universal health coverage (UHC), and health worker shortages. Progress can be achieved when we listen to our partners and distill key lessons from their views and results achieved. ✖