Health Care for All

While healthcare demand is continuing to grow, global healthcare costs are rising rapidly. Over half the world’s population don’t have access to essential healthcare. Therefore, collaboration amongst policymakers, healthcare providers, technology companies and investors is the need of the hour as that can help reduce healthcare inequity and costs

At the ongoing annual summit of the World Economic Forum, Davos, Switzerland, many investors were prepared to play a part in enabling greater access to healthcare innovation all over the world, while reducing the cost of care to the system.

The World Economic Forum (WEF) is the International Organization for Public-Private Cooperation. It provides a global, impartial and not-for-profit platform for meaningful connection between stakeholders to establish trust, and build initiatives for cooperation and progress.

In a published article for the event, the WEF has said that healthcare is at a critical juncture. Global medical costs are projected to increase by double digits for the third consecutive year, with estimates suggesting an average rise of 10.4% worldwide. This surge is driven by many factors, such as overwhelmed public healthcare systems and increased private healthcare demand, particularly in regions like Asia-Pacific and the Middle East and Africa, where medical cost growth projections are 12.3% and 12.1%, respectively.

Simultaneously, systemic inefficiencies persist, with approximately $1.8 trillion spent annually on global health initiatives that contribute minimally to positive health outcomes. Access disparities further compound the issue, as progress in expanding health service coverage has slowed since 2015, leaving more than 4.5 billion people — over half the world’s population — without full coverage of essential health services.

Robotic surgery brings greater precision and faster recovery

Amid these challenges, the world is entering a new era of possibility, the WEF said, pointing out how a recent milestone illustrates the transformative potential of innovation in healthcare: Cleveland Clinic Abu Dhabi performed the UAE’s first robotic mastectomy — a groundbreaking procedure that also marked a first for Cleveland Clinic’s global network.

By leveraging advanced robotic technology, this minimally invasive surgery significantly reduces the burden on breast cancer patients, offering greater precision, faster recovery and improved outcomes. This achievement underscores the possibilities of innovation and the importance of investing in technologies that bring meaningful, scalable benefits to patients.

Artificial intelligence, telemedicine, wearable devices and integrated digital platforms are also revolutionizing patient care worldwide. AI has demonstrated superior diagnostic capabilities compared to experienced doctors in identifying conditions like skin cancer, utilizing deep learning to produce more accurate diagnoses. Moreover, AI-driven diagnostics have the potential to reduce treatment costs by up to 50% and improve health outcomes by 40%.

Telemedicine and wearables expand access to care

Telemedicine and wearable devices are expanding access to care, particularly in underserved regions. Integrating data and digitizing payments further enhance the patient experience by simplifying healthcare management. Studies indicate that 70% of consumers are open to using a unified digital platform for their healthcare needs and 60% desire more information when choosing care options.

All of these are examples of how healthcare is moving closer to the intersection of groundbreaking innovation and the response to urgent global challenges at a profound scale. The opportunity will only be fully realized, however, if key forces align — if investors, policymakers and foundational research better align to support bold companies pushing the boundaries of possibility.

Apparently, investors within Mubadala Healthcare are seeking to play their part in enabling greater access to healthcare innovation, while reducing the cost of care to the system. They say that their investment strategy has always been underpinned by these two guiding principles.

Two examples from their portfolio have been highlighted to illustrate the impact of their strategy. Within the pharmaceutical space, Evotec integrates innovation and AI to accelerate drug discovery and precision medicine. By leveraging its proprietary technologies and platforms, Evotec enhances the likelihood of success in clinical trials and ultimately delivers better patient outcomes, in collaboration with its extensive network of pharma and biotech clients. Its data-driven approach exemplifies how cutting-edge innovation can fundamentally reshape the drug discovery pipeline.

Optimizing healthcare financing

Similarly, within healthcare IT, Zelis is transforming the healthcare financial experience. By optimizing claims processing, streamlining payments and enhancing transparency, Zelis addresses one of the most frustrating aspects of healthcare: navigating the financial journey. Its purpose-built solutions reduce complexity for patients and providers, while ensuring compliance with evolving regulatory landscapes.

However, the WEF cautions that as the world harnesses the potential of these advancements, it must remain mindful of the ethical and practical considerations they entail. Policymakers and innovators must establish new ways of working to ensure that regulations keep pace and guide technological developments, protecting the principles of healthcare and patient safety while never stifling progress.

Equity must also be a guiding principle. It is imperative that healthcare innovations are accessible to all, particularly underserved populations that typically need them most. By addressing inefficiencies and controlling costs, there is an extraordinary opportunity to break barriers and expand access to quality medical care for all, creating systems that are more effective and more equitable.

Realizing this vision requires unprecedented collaboration among policymakers, healthcare providers, technology companies and investors. Boundary-pushing digital health technologies are not unicorns or niche ventures; they are catalysts for a new era in healthcare. With strategic investment, enabling policies and innovative partnerships, we can revolutionize the global healthcare landscape to enhance medical care for patients worldwide.