Today, the Digital Health Days began in Stockholm and among the first speakers was Steven Burrill, CEO at Burrill & Company, a venture capital and merchant banking firm.
Mr Burrill has been involved in the growth and prosperity of the biotech industry for over 40 years. He spoke about the health challenges and the new health ecosystem. What’s driving the healthcare costs today, he said, is an aging population, the rise of chronic disease, the new technology which increases the costs and that the focus lies on treating. The healthcare system needs to move from a cost-based system to a value-based system. There is a need for a convergence between technology and healthcare. But there are strong forces wanting to maintain the system as it is, and it’s not going to be an easy task. The technology is there but there is a need for a market pull.
Mr Burrill also concluded that the payer has the power in the new healthcare system. He also said that today privacy is not an issue when it comes to digitalizing healthcare.
Read more about the Digital Health Days in our upcoming issue of Nordic Life Science Review.