The healthcare industry is wide and diverse, from hospitals and drug companies to medical technologies and pharmaceuticals. Industry 4.0 is reimagining healthcare, blurring lines between physical and digital. The rise of data and analytics has meant that every company within any industry can utilize this information to improve. Healthcare, in particular, can attain insights through human-lead algorithms to improve health outcomes. The benefits of the wealth of technology available, interlinked with the increasingly aging population, will propel the industry to maximize returns. But, how exactly can you capture value and returns within healthcare?

New value creation will be focused on data sharing, and combining data from a variety of sources to manage and prevent disease and illness. Algorithms will be pivotal in enabling a combination of economic and financial insights to increase returns. Utilizing this data, along with scientific and behavioral insights will provide personalized information that could be beneficial to health outcomes. Intelligent systems created through data will add value to customers, providing predictive and dedicated care.

Ultimately, those in the healthcare and life sciences industries – payers and providers, in particular, must partner with new entrants and technology companies to enable higher returns and values. This is the main reason why we are hosting challenge’s digital twin and healthcare summit – although the conference will be focused on technology, the methods of generating better ROI will also be discussed. The benefits provided by Industry 4.0 have proven to be too worthwhile to ignore.