By 2050, one in six people in the world will be over the age of 65 – up from 1 in 11 in 2019 – according to the United Nations. While the advancement of this trend varies globally, all societies in the world are on the path to a more elderly population. Older people account for more than one fifth of the population in 17 countries today, and the United Nations projects that this will be the case in 2100 for 155 countries, covering a majority (61%) of the world’s population.
Our hospitals and healthcare providers are under growing pressure to meet the needs of an ageing population, and a population with ever-more complex health needs. We know people can live for longer, and with more complex health conditions than ever before. If the health services are to remain fit for purpose, they must partner with innovators delivering advanced services that build resilience, reduce risk and deliver enhanced patient outcomes. This year’s Servitization Live conference will debate the future of healthcare and showcase how servitized business models are helping companies support hospitals, GPs and individuals, be it by maintaining power, keeping critical equipment online, or connecting with patients through digital platforms.
The pandemic has shone a spotlight on just how critical, complex, and vulnerable our healthcare system is. Investing to future proof our hospitals is critical. We’ve all seen what happens when there is a surge in hospitalisations, shortage of equipment, mounting waiting lists and an over-burdened workforce. Supporting hospitals, GPs and other healthcare providers with innovative services that optimise performance in one way to address these challenges.
Healthy Living and Ageing as a Service is a key theme of Servitization Live 2021. The hybrid event, which takes place between 4th and 6th October at the ICC Birmingham, is hosted by the Advanced Services Group at Aston Business School and will explore the latest business models and technologies that are accelerating service transformation. Much of the debate will focus on what service providers can do to support healthcare providers in maintaining standards, by reducing risks and offering new models to exploit the very latest technological and medical advances.
Outcome-based services will play a key role in ensuring health services are equipped to meet the challenges ahead. By shifting responsibility to service providers, they enable clinicians to get on with their day job and open the door for new forms of innovation which would otherwise be out of reach. Servitization Live will showcase such businesses.
Hospitals, care homes and other health and care settings are hugely reliant on medical equipment and the consequences of failure can be catastrophic. Be it life support machines, CT scanners, or ventilators, medical equipment is complicated to operate and very difficult to maintain. The best way of ensuring that it operates as effectively as possible is not to hand responsibility to medical professionals but to shift the burden to the manufacturer.
Many medical manufacturers are waking up to the value proposition of offering advanced services as a way of helping manage budgets and minimise risk. Uptime guarantees and preventative maintenance helps ensure equipment is more reliable and gives staff and service users peace of mind that operations and treatments are less likely to be cancelled due to malfunction.
Keynote speaker James Brown, Associate Professor at Aston University, will speak about the use of such technology in supporting the ageing population, and in allowing self-management of health to allow independent living for longer. Graham Armitage, UK Partnership Development Lead at EIT Health Ireland UK, will also deliver a keynote speech in which he will speak about such digital innovations and the technology innovators who are developing them and offering services that help healthcare providers to manage their budgets and minimise risk.
Power as a Service
Alongside the fear of equipment failure, hospitals, care homes and other care providers deal with the threat of power outages. Electricity is the lifeblood of critical care facilities and disruptions to supply can have severe impacts for patients and staff. This threat is becoming ever greater, largely due to extreme weather patterns. In July, Whipps Cross Hospital in East London was forced to evacuate 100 patients after flash floods cut its power supply. The extreme weather events are set to occur more frequently as a consequence of climate change.
Ben Wilson, Strategic Marketing and Offer Manager at Schneider Electric will speak at Servitization Live about how an advanced services solution reduces the chances of hospitals losing power. Schneider Electric is deploying an energy-as-a-service model to help hospitals boost energy resilience and efficiency. The EcoStruxure™ solution gives hospitals access to renewable energy microgrids through a performance-based energy service agreement. This guarantees reliable power through a monthly payment plan with no upfront capital expenditure.
Virtual healthcare provision
Service providers can also assist hospitals by providing digital platforms for remote provision. The pandemic has highlighted the importance of building resilience by finding ways of giving people access to healthcare without needing to be physically present in a healthcare facility.
Dignio is one of a number of businesses supporting healthcare provision through virtual wards and clinics. Managing Director, Ewa Truchanowicz, will address the Servitization Live audience and discuss how the company’s digital platform is opening up new opportunities. The innovation allows healthcare providers to build their own virtual environments to support services such as covid monitoring, long term condition management and mental health. It provides much greater flexibility in the delivery of services ensuring patients only visit hospital when it is absolutely necessary.
Their offer extends beyond consultation to areas such as sending alerts to clinicians when patients fail to take medication, allowing people to report symptoms, and providing individual treatment plans accessible by phone or tablet.
There has never been a better time to support healthcare through advanced service provision. Servitized business models put the customer at the heart of the solution and allow them to access disruptive technology and sophisticated innovation without upfront capital investment.
Shifting the focus from one-off transactions to outcome-based solutions and developing long-term partnerships can provide a more resilient future both for healthcare providers (enabling focus on patient outcomes) and manufacturers -(securing a new sustainable income stream and ensuring they are firmly rooted in the future of healthcare provision).
Servitization Live is the business event solely dedicated to servitization and advanced services. Taking place 4-6 October 2021 at the ICC Birmingham and Online, it brings together the global community of leading industry executives and servitization researchers for sharing real servitization strategies and journeys, showcasing the technologies that enable advanced services and presenting the latest research on servitization.
For more information and to register visit: https://www.servitizationlive.com
The three-day event is sponsored by Servitly, Capgemini, Senseye, Allsee Technologies, DEAS+, IFS, Xait CPQ and DLL, and supported by Field Service News.