| | October 20209UTLOOKHealthcare Tech importance of digitizing the current business in parallel with deploying innovative technologies when designing a successful healthcare strategy in this digital era. Even venture capital and life sciences executives have openly admitted after attending the latest JP Morgan Healthcare conference that digital era, digital medicine and digital health are confusing terms and definitions need to be defined more clearly. So what are they? Digital era is described as a "shift from an industrial- to an information-based economy by using technological devices as a medium or communication". Digital health is defined as a convergence of digital technology with health, health-care, living and society to enhance delivery of care and facilitate the transition towards a personalized/precision medicine approach.On a positive note, there are also several lessons learned about drivers of success in designing an optimal healthcare strategy in this digital era. "Choosing what not do" remains the essence of a sound strategy as Michael Porter has outlined repeatedly. Furthermore, clearly identifying the value proposition, understanding the intricacies of the national healthcare ecosystem and considering the competitive landscape are frequently cited as key drivers by successful healthcare leaders. The digital era has also triggered a transition towards a consumer-centric and virtualized medicine design in order to meet the needs of the current 4th industrial generation. Design thinking, on-demand healthcare, direct-to-consumer advertising and sales are now part of the common healthcare strategic portfolio.Lastly, in this digital era it is imperative for a state-of-the art healthcare strategy to be aligned with an exponential medicine vision that is aiming to optimize global population health. Genomics and precision medicine-based novel solutions have the potential to act as disruptors and facilitate a change from sick-care to well-care. HT
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