Vision 2025: Data-Driven Healthcare
To discover how data-driven healthcare can revolutionise today’s system, let’s mentally fast-forward to June 2025 and take a journey to East Africa.
The original article was published here.
In 2025 we have fortunately mastered the outbreak of the SARS-CoV-2 (also known as COVID-19) strain and are successfully deploying vaccines around the world. Unfortunately, strains are arduous characters and a new virus has recently appeared. Hypothetically we are calling this new virus SARS-CoV-3.
Thanks to the accumulated experience this time around, a vaccine is already available and can prevent greater worldwide suffering. However, the problem is that the effectiveness has not yet been proven and the costs are exorbitant. Luckily, in the year 2025, we live in an age of data-driven, value-based pricing!
What does value-based pricing mean?
In simple words, it is a model in which the price of medicine depends on the result it achieves for the patient. There is no fixed price. This approach provides patients across the globe with access to better treatments at lower costs.
Back to the SARS-CoV-3 pandemic example. Imagine a family living close to Nairobi. Due to the cost of the vaccine, the mentioned family would usually not have access to treatment. With value-based pricing platforms, treatment is only paid if it is a success. To elaborate on the benefits of these new technology solutions, let’s focus on the perspective of three main parties: the patient, the health insurance and the manufacturer (e.g. pharmaceutical company).
To be able to offer value-based pricing the following technological conditions must be in place:
- an internet connection that transmits data about the patients’ health progression in real-time to the value-based pricing platform,
- a wearable sensor that measures the vaccine effectiveness in real-time, and
- a value-based pricing platform that enables the execution of value-based contracts based on objective measurable terms previously agreed upon between the health insurance and the manufacturer.