We have just had a long panel session centred around why we are not able to engage change across government and industry, in spite of the vast amount of data that supports the opportunity for savings within the health care budget through switching to self care. I might offer hypothesise that though the evidence is clear and directive on potential savings and indeed on improved patient outcomes, what is not clear is the benefit to the industry in terms of financial opportunity, which unfortunately, though implicit is not explicitly stated or innumerate.
Within our companies, our plans and strategies are evaluated against data by our internal financial health economists a.k.a our strategy, finance and planning teams, who without concrete evidence will revert to historical trend, which is sadly displayed year on year by our partners from IMS, Nicholas Hall and Euromonitor.
Successful change only comes with a clear benefit to the key stakeholders and so far, we have heard great evidence of benefits to the health systems and patients but not to the industry. We have to communicate win win win opportunities for all three before we can achieve sustainable change and leverage the opportunities that are facing us.
Why is it that the technology giants and indeed start-ups are willing to spend investment of time, money, people and resources to develop new and exciting technology solutions for healthcare? I think it is because they don’t look at the past because they have no past to protect and so focus on the future, which has clearly defined opportunities driven by all the positive trends we have spoken about.
There is a lesson for us as the self-medication industry that we have focused too much on the past and we have to take a leap of courage to define the future that we want to create.
Steve Sowerby (XPotential and The OTC Training Academy)