With one of the strongest economic growths in the world and a rapidly aging population, there is no wonder why Pharmaceutical, Medtech and other Healthtech companies invest heavily in the Asian Pacific region. Construction work relating to hospitals and other health related projects also provides ample opportunities for savvy investors. So what will the future look like?
One thing we know for sure is that everyone is trying to capitalize on patient centered healthcare. Patients like to be in charge of their destiny as much as possible. Gone are the days when the Doctors made all the decisions regarding what their patients should be doing. These days patients like to be in charge themselves and like to be in the center of the healthcare picture.
Politicians from all different parties will try to capitalize on this and will therefore always make promises that they cannot keep. When things go wrong, they will always blame others. The population is therefore always confused about what is actually happening and find it hard to predict the future and to make the right decisions for them and their families regarding their future health. The idea is to understand the bigger picture and to lobby the right politicians who can support your cause even if this takes a bit of time.
Public Private Projects (PPPs) are becoming more common and have a great growth potential in the region since the governments can’t afford to finance major health projects. –Having been involved in PPP management, I see a great potential for PPPs in the Asia Pacific. However both the governments and the companies involved need to be better at doing their initial homework and need to be more strategic from the start. I have seen a lot of very disappointing situations occur relating to PPPs as a result of poor planning says Peter Karlsson.
The burgeoning cost of healthcare together with concerns about possible side effects and malpractice act as a catalyst creating a more complex regulatory environment for any organization involved with healthcare. Not having a thorough understanding of this can also create a great deal of disappointment asserts Peter Karlsson. Organizations involved with healthcare in the Asia Pacific therefore need better strategies from the start and better due diligence before commencing any important projects or they will simply not be successful.
Peter Karlsson is the Managing Director of Sydney based consulting firm Profits And People and is a member of the Australian Institute of Company Directors. Peter Karlsson has vast experience in working with Pharmaceutical, Medtech and Health related projects in the Asia Pacific. He has been involved with risk management, market expansion and business growth projects in the Asian Pacific region for 23 years.
Profits And People is a boutique Business Growth and Market Expansion Consulting firm supporting organisations to increase their growth and profitability in Australia and Asia. We are based in Sydney and have 23 years experience in the Asian pacific region working across several different industries from IT and Manufacturing to Medtech / Pharma and Healthcare. Profits And People work with large Multinational Organisations as well as SMEs. We support organisations through their entire lifecycle providing dynamic and innovative consulting solutions in a world that is constantly changing. Profits And People help organisations taking advantage of global changes rather than being a victim of them through a strong understanding of People, Culture Process and Systems.