Leveraging the Power of CDVC (Concurrent Digitalized Value Chain) is key, say Dr Hesham Dinana VP EFESO MEA and Dr Mohamed Fayek Director – Head of Healthcare and Life Science EFESO MEA
The world is in a continuous state of flux and the healthcare industry is no exception. With the unprecedented changes brought about by the COVID-19 pandemic, the healthcare sector has had to change the way it operates and deliver medical care. This has created a challenging environment for healthcare providers, as they must balance their need to be resilient and responsive to changes while also providing value to their customers. In such a VUCA (Volatility, Uncertainty, Complexity, Ambiguity) world, leveraging a digital value chain can help healthcare providers meet the demands of their customers while also delivering quality care.
The healthcare industry is undergoing a rapid transformation as digital technologies become more commonplace. With the help of a digital value chain, healthcare providers can deliver more efficient and effective care. A digital value chain is to build a real time network between all ecosystem players with interconnected digital platforms and tools. This helps healthcare providers and other stakeholders coordinate, manage, and deliver care.
Concurrent Digitalized Value Chain (CDVC) by EFESO is a system that allows for improved collaboration between providers, patients, and other stakeholders, allowing for more streamlined care delivery. In addition, it improves the accuracy and security of patient data, helping to reduce medical errors and reducing the risk of data breaches. It develops the capability of healthcare providers to better track patient progress and outcomes, allowing them to make more informed decisions.
Challenges facing healthcare in VUCA world
The healthcare industry is facing numerous challenges in today’s VUCA world. First, the pandemic has created an unprecedented demand for healthcare services, forcing healthcare providers to take on more patients with limited resources. This has caused a strain on existing systems, leading to long wait times, overworked staff, and a lack of resources.
Second, the rapid changes in the healthcare landscape have caused the industry to become increasingly complex. With the emergence of new technologies, the need for highly specialised care has become more acute, increasing the complexity of care delivery. This has put a strain on healthcare providers, as they must be able to quickly respond to changes in order to remain competitive.
Third, the high cost of healthcare is placing a strain on budgets, making it difficult for healthcare providers to maintain their operations. Rising costs have forced healthcare providers to look for ways to reduce costs while still delivering quality care. This has led to a need for innovative solutions that can help healthcare providers optimise costs while still providing high-quality care.
Finally, the healthcare industry is facing increasing pressure from regulators and the public to become more transparent and accountable. This has led to increased scrutiny of healthcare providers and the need for better data-driven solutions to improve patient outcomes.
Fulfilling increasing demand by digital customers
The emergence of digital customers is creating new opportunities for healthcare providers to meet the demands of their customers. Digital customers are more informed and empowered than ever before, and they are increasingly turning to technology to find and access healthcare services. As such, healthcare providers must leverage digital solutions to meet the needs of their digital customers.
This can be done in a variety of ways. For example, healthcare providers can use digital channels such as websites and mobile applications to provide information about their services and allow customers to book appointments. Additionally, they can use digital solutions to provide personalised care plans and engage customers through telemedicine. By doing so, healthcare providers can meet the demands of their digital customers while also providing quality care.
The digital transformation of the healthcare industry has revolutionised the way healthcare is delivered. By utilising a digital value chain, healthcare providers can effectively manage their entire operation from one central location. This saves time, money and resources, as well as simplifies the delivery of quality care. From streamlining the booking process to providing faster patient access to medical information, digital value chains are making healthcare delivery more efficient and reliable. Moreover, these value chains can also help to improve the accuracy of patient data and reduce the risk of medical errors. With the increasing demand for fast and easy access to medical information, digital value chains are becoming an invaluable tool in the healthcare industry.
Value Chain in Healthcare – what is the value?
The healthcare industry is highly complex and requires a variety of activities to be performed in order to deliver quality care. This is where the value chain comes in. EFESO state of art model Concurrent Digitalized value chain is a set of activities that healthcare providers must undertake to produce a product or service. It involves everything from sourcing and production to distribution and marketing.In the healthcare industry, the value chain involves activities such as medical research, clinical trials, drug development, manufacturing, distribution, and marketing. It also involves activities such as billing, coding, and patient engagement. By understanding the value chain, healthcare providers can identify areas for improvement and optimise their processes in order to deliver better care.
The digital value chain is revolutionising the healthcare industry by enabling efficient and effective delivery of services. By leveraging the latest digital technologies such as cloud computing, big data, analytics, and AI, healthcare organisations can now automate processes and streamline communication between providers and patients. With digital value chain, healthcare data is securely stored, accessed, and shared in real-time, which allows for greater transparency and accuracy of patient care. It also enables healthcare organisations to provide more personalised patient care, as well as access a wealth of medical data. Furthermore, a digital value chain helps to reduce costs, reduce errors, and improve patient outcomes.
Digital value chain implementation to improve care delivery
Digital value chains allow healthcare providers to quickly and accurately identify patient needs and then provide the right treatment in a timely manner. With digital value chains, healthcare providers can also track patient outcomes and make sure they are getting the best care possible. In addition, digital value chains can help healthcare providers reduce costs and improve the quality of care. The challenge for healthcare industry is the pace of change, pricing pressures, effects of patents, product development to commercialisation, competition, sourcing risks, changing patient needs, and more. The focus of CDVC is to help businesses gain alignment between external pressures and internal actions and to ‘think’ and ‘behave’ end-to-end across the entire value chain as a means of creating competitive advantage.
In fact, there is no ‘one size fits all’ approach to the healthcare sector and/or sub-sectors and our approach is to help clients tackle current and future challenges by co-creating a tailored approach. In addition, the CDVC model provides a framework for identifying gaps and establishing ‘concurrent progression’ in the areas that have the greatest impact on the ‘value’ generated or ‘risk’ mitigation. Healthcare organisations can do this through the development of people’s understanding and leadership capabilities, support and enablement of the right digital environment and the management of process change across the business (Process-Human-Digital).
The EFESO Concurrent Digitalized Value Chain (CDVC) progression model works holistically across all the E2E Value Chain domains to ensure they are improved upon in a on current manner against business and market aligned goals. By synchronising capabilities and performance improvement across these domains, key interdependencies are identified and work in parallel. This allows quicker progression and sustained gains. The CDVC Model first translates business goals by domain performance requirements, then assesses current state capabilities versus those requirements. An improvement plan is then plotted to span the CDVC Domains.
Digital value chain enhancing collaboration and partnerships
A digital value chain involves the use of digital tools to facilitate collaboration and partnerships between healthcare providers and their customers. Partnership with platforms can enhance staff productivity by lowering customer acquisition costs. For example, healthcare providers can use digital solutions such as cloud computing and blockchain to securely share data with their partners.
Building a Real Time Network digital value chain can help healthcare providers collaborate with other organisations, such as research institutes and pharmaceutical companies. This can help healthcare providers access the latest research and treatments in order to provide better care for their patients. By leveraging digital value chains, healthcare providers can improve their ability to collaborate and partner with other organisations, leading to better care for their patients.
The EFESO Value Chain Service Lines are built into a CDVC Progression Plan. While some of these Service Lines are domain specific, others span multiple domains. The key to our approach is that the Progression Plan integrates this work in the most effective manner possible by delivering the client tailored capabilities and result improvements. This focus on operationalising the plan is another strength of EFESO as we ensure capabilities are built across the Human Dynamics, Work Process and Digital Dynamics in order to achieve sustainable results. Thanks to our Data Engineers, Data Scientists and Human Dynamic experts, we are able to support our clients on all three legs of Process, People and Advanced Analytics. We typically see that our clients are well developed in Make and Distribution Operational Excellence but have large opportunities on the external interface with Suppliers and Customers. However, the largest gap is with Sales (Commercial/Marketing) and this is where the value proposition of your value chain needs to be connected to drive growth and sales.
In today’s VUCA world, healthcare providers must be resilient and responsive to changes while also providing value to their customers. Leveraging a digital value chain can help healthcare providers meet the demands of their customers while also delivering quality care. By implementing a digital value chain, healthcare providers can optimise their processes, improve care delivery, and enhance collaboration and partnerships. In doing so, healthcare providers can create a resilient and responsive healthcare system that can meet the needs of their customers.