New Delhi, Delhi, India – Business Wire India
Royal Philips (NYSE: PHG, AEX: PHIAI), a global leader in health technology, today announced the India findings of its flagship Future Health Index (FHI) 2024 report titled ‘Better Care for More People: Bridging Gaps in Healthcare.’ The ninth edition of the Future Health Index report examines how Indian healthcare leaders are addressing the barriers to delivering high-quality, timely care through innovative technologies and partnerships. This report is based on proprietary data from nearly 3,000 respondents across 14 countries, with additional qualitative insights from healthcare leaders in key markets.
The Future Health Index India 2024 study highlights significant advancements by healthcare leaders in adopting new models of care to overcome staffing gaps, optimize patient outcomes, and enhance data accessibility. Indian leaders report a keen interest in leveraging technology—such as virtual care, AI, and automation—to improve care delivery efficiency. Notably, 94% of Indian healthcare leaders see the positive impacts of virtual care in easing the impact of staff shortages.
To access the full report, click here.
Commenting on the launch of the report Bharath Sesha, Managing Director, Philips Indian Subcontinent said “The 2024 Future Health Index India findings reveal that Indian healthcare leaders are navigating critical challenges, including staff shortages, data integration, and financial pressures, which impact timely access to care. Indian healthcare leaders have taken cognizance of these challenges and are rethinking traditional care models by embracing advanced technologies like automation and artificial intelligence (AI). At Philips India, we are committed to improving patient outcomes by supporting our customers and partners with groundbreaking solutions which enable them to create a truly integrated and patient-centered care model.”
Bridging the Staffing Gap
Owing to a combination of growing and aging population, there has been an increase in demand for healthcare workers in India. The resulting staff shortages are taking a heavy toll on healthcare professionals in the country, with 64% of healthcare leaders reporting increased incidences of burnout, stress and mental health issues among their staff.
Issues around staffing are also impacting patients and leading to delays in care. More than half of healthcare leaders are concerned that staff spend less time with patients, with one in five (20%) calling this a severe issue in their organizations. At the same time nearly two-thirds report a lack of time to upskill staff and embed new technologies that could help address such issues, exacerbating the problem further.
Indian healthcare leaders are responding to this challenge by adopting digital tools to alleviate pressures on hospital staff. Virtual care is a major area of focus, with 94% of healthcare leaders affirming its role in alleviating staffing challenges. Virtual care is not only extending the reach of healthcare but also enabling collaboration across locations.
Enhancing Patient Access through Data-Driven Insights
99% of the surveyed Indian healthcare leaders believe that data-driven insights have the potential to improve their organizations’ ability to provide high-quality care. They see a wide range of opportunities to improve patient care by bringing data from disparate sources together in a meaningful way.
However, data integration remains a significant challenge, with 90% of the respondents facing integration issues that impact timely and effective care. As a result, nearly two in five (38%) healthcare professionals lose precious time accessing or integrating data, leaving less time to care for patients. The same number say they face increased risk of errors, reduced patient safety and quality of care, while 41% cite increased operational costs is a consequence of data integration challenges.
Indian healthcare leaders recognize Generative AI as the next frontier of AI innovation that will help unlock new efficiencies and insights from patient data, with 93% of them already investing in it today or planning to invest in the technology in the next three years.
Collaborating Across the Ecosystem for Sustainable Healthcare
Recognizing the importance of cross-sector collaboration, Indian healthcare leaders are focused on building partnerships that support sustainability and efficiency. The report shows that 52% of the surveyed leaders see health technology companies as essential partners to enhance integration and interoperability, which are key to making healthcare more efficient. Leaders are also adopting financial strategies focused on long-term growth and sustainability, with 48% exploring new business models, like community health centers, to manage costs and extend access to care.
These results highlight the commitment of Indian healthcare leaders to transforming the healthcare system through collaborations, data insights, and digital innovation with the goal to provide better treatment for more people across the country.
Since 2016, Philips has conducted original research to help determine the readiness of countries to address global health challenges and build efficient and effective health systems.
For details on the Future Health Index methodology and to access the Future Health Index 2024 report in its entirety, visit: Better care for more people – 2024 India report | Philips.
About Future Health Index
The Future Health Index 2024 report explores how healthcare leaders view their hospital’s ability to deliver timely, high-quality care to everyone. A quantitative survey was conducted among almost 3,000 healthcare leaders from 14 countries (Australia, Brazil, China, India, Indonesia, Italy, Japan, the Netherlands, Poland, Saudi Arabia, Singapore, South Africa, the United Kingdom and the United States). This was supplemented by eight qualitative interviews of healthcare leaders, two from each of the following countries: Singapore, South Africa, the United Kingdom and the United States. Both the quantitative and qualitative research stages were conducted between December 2023 – March 2024.
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.
Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2023 sales of EUR 18.2 billion and employs approximately 69,700 employees with sales and services in more than 100 countries.
News about Philips can be found at www.philips.com/newscenter.
Disclaimer
Information, estimates, expectations, and business plans included in this press-release/article are forward-looking statements for knowledge sharing purposes and not intended to provide medical advice, diagnosis, or treatment suggestions. All information provided by or on behalf of Philips (or any of its affiliates) is provided on an “as is, where is” basis, and no representation or warranty, express or implied, regarding the accurateness or correctness thereof is assumed by Philips in any manner. Philips shall not be liable for any damages arising from the contents including but not limited to direct, indirect, incidental, punitive and consequential damages.
Media Contact Details
Juhie Gorwara, Philips India, Juhie.Gorwara@philips.com; Akshit Sharma, Avian WE, akshit@avianwe.com, +91-9582071789
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