Philips Future Health Index 2024: Singapore’s Healthcare Sector Leading the Charge in AI Investment and Operational Optimisation

• 60% of healthcare leaders in Singapore report delays in care delivery due to staffing shortages.
• 96% believe data-driven insights present opportunities to enhance patient care.
• 89% are investing or planning to invest in generative AI for clinical decision support within the next 12 months, significantly surpassing the global average of 62%.

SINGAPORE, 23 August 2024 – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, has today unveiled the Singapore-specific findings from its Future Health Index (FHI) 2024 report: Better Care for More People. The report underscores Singapore’s healthcare sector as a leader in the adoption of generative AI and advanced technology aimed at enhancing operational efficiencies, thereby benefiting both healthcare professionals and patients alike.

In its ninth edition, the report surveyed nearly 3,000 healthcare leaders across 14 countries, including Singapore. The findings reveal that healthcare leaders are prioritising the enhancement of operational efficiencies through data integration and AI-driven innovation to improve patient care, especially in the face of mounting pressures from workforce shortages, financial constraints, and increasing demand.

Dr. Mark Burby, Vice President of Health Systems at Philips APAC, commented, “While long wait times and staff shortages are making it increasingly difficult for people to access the care they need, healthcare leaders in Singapore are proactively taking steps to improve patient outcomes. Singapore is at the forefront of AI investments, particularly in areas like generative AI. However, while there is a collective recognition of the importance of the safe and responsible use of data and AI, greater cross-sector collaboration is essential to establishing industry standards that will unlock the full potential of these technologies.”

Addressing Staff Shortages and Financial Pressures to Improve Patient Care

The FHI report highlights the urgent need to address Singapore’s healthcare talent shortage. Half of the healthcare leaders surveyed (50%) reported rising levels of burnout, stress, mental health issues, deteriorating work-life balance, and low morale among existing staff. Furthermore, 60% expressed concerns that staff shortages are causing delays in patient care, leading to longer waiting lists for appointments (41%), extended wait times for treatments or procedures (35%), and restricted or delayed access to screening, diagnosis, and preventive care (32%).

Financial challenges also loom large, with 79% of healthcare leaders in Singapore acknowledging that these constraints are hindering their organisations’ ability to deliver timely, high-quality care. To counter these challenges, a majority (64%) are already implementing strategies to improve operational efficiencies within their organisations.

The Need for Cohesive Data Integration to Enhance Care and Access

In Singapore, nearly all healthcare leaders (96%) recognise the potential for data-driven insights to enhance patient care, improve healthcare access, and reduce disparities in healthcare outcomes across communities.

However, 84% of these leaders reported encountering at least one challenge related to data integration, which adversely impacts the quality of care provided to patients. These challenges include increased operational costs due to inefficiencies (36%), limited coordination between care providers or departments (35%), and a heightened risk of errors, thereby compromising patient safety and the quality of care (35%).

To better serve patients, healthcare leaders are focusing on overcoming these challenges by prioritising improvements in areas such as data security and privacy (44%), data accuracy (42%), full patient access to their own health data (40%), and the interoperability between different platforms and healthcare settings (38%).

Growing Emphasis on AI and Generative AI

Singapore’s healthcare sector continues to demonstrate a strong appetite for AI, with leaders already exploring the next frontier in this technology. The most prominent areas of AI application for clinical decision support include in-hospital patient monitoring (67%), medication management (64%), and treatment planning (61%).

Generative AI is also rapidly gaining traction, with Singapore leading the way globally. An impressive 89% of Singaporean healthcare leaders reported that they are either currently investing in or planning to invest in generative AI within the next 12 months, a figure that significantly exceeds the global average of 62%. Notably, more than a third (37%) are already investing in generative AI, underscoring the recognition of the substantial benefits this technology could offer in improving patient care.

While there is considerable enthusiasm about the potential of AI, healthcare leaders are mindful of the associated challenges, such as data bias. More than half of the leaders consider it crucial to ensure diversity among staff involved in data and AI (51%, compared to 38% globally), to make AI transparent and interpretable for healthcare professionals (48%, matching the global figure), and to establish policies for the ethical use of data and AI (42%, close to the global average of 43%). Achieving these goals will require robust cross-sector collaboration and coalition-building.

Dr. Mark Burby, added, “We understand that data and AI will play an increasingly pivotal role in the digital transformation of Singapore’s healthcare system. At Philips, we are committed to partnering with healthcare providers on this journey, leveraging our innovations in imaging, interventional procedures, and patient monitoring, all underpinned by our AI and informatics capabilities. It is through these partnerships within the ecosystem that we can enhance patient care, streamline workflows, and boost productivity.”