Goldman Sachs: Digital Revolution Can Save $300 Billion on Healthcare
Analysts at Goldman Sachs predict digital technology will transform healthcare, revolutionizing access to care and bringing much-needed cost reductions, according to an article in Business Insider. In a June 29 report, GS analysts estimate the potential overall savings from digital healthcare at $305 billion, with up to $200 billion coming from improvements in chronic disease management. The report also says digital healthcare market revenues could reach $32.4 billion in the near term.
The analysts highlight opportunities in telehealth, behavior modification and remote patient monitoring and suggest the technology and the industry are both ready. “The advent of mobile and the advancement of sensors effectively allow for the miniaturization of medical equipment that formerly only a centralized institution could afford,” the authors say. At the same time, they report finding among healthcare providers and other stakeholders a “general willingness to explore digital health as a viable component in daily healthcare practice.”