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This article is part of: Growing Enterprise Revenues
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We look at nine telcos’ approaches to the healthcare market to identify keys areas of opportunity and lessons on what it takes to succeed.
This report is a follow-up from our first report Telcos in health – Part 1: Where is the opportunity? which looked at overarching trends in digital health and how telcos, global internet players, and health focused software and hardware vendors are positioning themselves to address the needs of resource-strained healthcare providers.
It also build on in depth case studies we did on TELUS Health and Telstra Health.
Telcos should invest in health if…
- They want to build new revenue further up the IT value chain
- They are prepared to make a long term commitment
- They can clearly identify a barrier to healthcare access and/or delivery in their market
…Then healthcare is a good adjacent opportunity with strong long term potential that ties closely with core telco assets beyond connectivity:
- Relationships with local regulators
- Capabilities in data exchange, transactions processing, authentication, etc.
Telcos can help healthcare systems address escalating resourcing and service delivery challenges
Telcos can help overcome the key barriers to more efficient, patient-friendly healthcare:
- Permissions and security for sharing data between providers and patients
- Surfacing actionable insights from patient data (e.g. using AI) while protecting their privacy
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Why telcos’ local presence makes them good candidates to coordinate the digital and physical elements of healthcare
- As locally regulated organisations, telcos can position themselves as more trustworthy than global players for exchange and management of health data
- Given their universal reach, telcos make good partners for governments seeking to improve access and monitor quality of healthcare, e.g.:
- Telco-agnostic, national SMS shortcodes could be created to enable patients to access health information and services, or standard billing codes linked to health IT systems for physicians to send SMS reminders
- Partner with health delivery organisations to ensure available mobile health apps meet best practice guidelines
- Authentication and digital signatures for high-risk drugs like opioids
- Healthcare applications need more careful development than most consumer sectors, playing to telcos’ strengths – service developers should not take a “fail fast” approach with people’s health
Telcos have further reach across the diverse healthcare ecosystem than most companies
However, based on the nine telco health case studies in this report, to successfully help healthcare customers adopt IoT, data-driven processes and AI, telcos must offer at least some systems integration, and probably develop much more health-specific IT solutions.