Are health tech innovations key to reducing global healthcare costs?

The report, which interviewed health and insurance professionals in UK, US and Australia, as well as polling over 1,000 people in each country, reveals that the cost of care has risen year on year, and that some of the most serious cases now cost in excess of £400,000 annually. What’s more, it identifies that the Covid-19 crisis has shed light on the inefficiencies of the current compensation system for care, in that it no longer meets public expectations for assistive technologies following life-changing accidents.

“Many personal care services can now be replaced or improved via assistive technology,” commented Mark Burton, Head of Catastrophic Injury at Kennedys. “Whilst consumers are supportive of technology-based solutions in healthcare, the medico-legal market is outdated and offers insufficient integration of personal care and assistive technology solutions. The clinical knowledge gap around the role of technology in allowing increased independence for some patients needs to be closed via education and proactive engagement by all parties.”

Burton added that the Covid-19 pandemic is forcing emergency re-appraisal of the traditional care supply chain ‘for reasons of infection control and business continuity’. He continued: “We have carried out extensive consumer surveys and stakeholder interviews, in order to reality-test demand for increased adoption of healthtech solutions. The results were revealing, in that public attitudes are supportive of reform, but that there are various practical impediments embedded in our existing claims and healthcare infrastructure.”

To access the report in full, click here.