Revolutionizing Technology in Healthcare : Suja Chandrasekaran, Board @Cardinal Health, Former CIO, Commonspirit

03/19/23 • 25 min

The global healthcare IT market size was valued at USD 142.7 billion in 2022 and is projected to exhibit a CAGR of 17.9% in the forecast period. Global big data in the healthcare market is expected to reach $34.27 billion by 2022 at a CAGR of 22.07%.

The global artificial intelligence in the healthcare market was valued at USD 6.7 billion in 2020, compounding by 41% yearly.
The combined augmented reality and virtual reality markets were worth $12 billion in 2020, with a massive annual growth rate of 54%
Telehealth went from $306 million to $3.7 billion during the pandemic,

In this episode, I am in conversation with Suja Chandrasekaran about how technology is revolutionizing healthcare. We discuss that the future of care is hybrid, where the blend of physical and virtual care is driven by the equity of access, efficiency, and efficacy of care enabled by data, and a laser focus on talent management is required to bring value to value-based care.

We acknowledge that the US Healthcare spending is estimated to be $4.3 trillion. At the same time, technology innovations such as wearables rose by 19%, digital therapeutics increased by 32%, and startup funding was targeted to reach $22 billion in 2023. We realize that the trends are moving towards meeting patients where they are and making the patient experience more simple, seamless, and integrated.

We firmly believe that the future of health requires equity and quality of care while engaging providers and payors, and a fundamental shift is required to promote healthcare, not sick care.

About

Suja Chandrasekaran was Senior EVP, Chief Digital and Information Officer at CommonSpirit Health. She is an industry-recognized global operation and digital transformation leader. Previously, she has been a member of executive leadership teams and global chief of digital and tech at large companies, including Walmart, Inc, Kimberly-Clark Corporation, Nestle S.A., and The Timberland Company.

Suja serves as a board member on the boards of public companies American Eagle Outfitters (NYSE: AEO), a global omnichannel apparel retailer, and Cardinal Health (NYSE: CAH), a healthcare and pharma-centered, Fortune 15 company. She is also on the boards of private companies - digital supply chain tech platform Blume Global Technologies and Agendia Inc, a precision medicine molecular diagnostics company focused on breast cancer research, diagnosis, and treatment.
About Host
Smriti Kirubanandan has a strong background in robotics and public health and is a Healthcare Executive, where she focuses on driving significant transformations within the healthcare ecosystem, concentrating on customer experience, intelligent automation, data analytics and insights, and is determined to make healthcare more accessible and affordable through innovation and empathy. She also spearheads brand development, thought leadership, and market research.

Smriti is a selected Young Global Leader 2023 by the World Economic Forum, a member of the Young Leaders Circle at the Milken Institute, and is the Founder of HLTH Forward Podcast- an award-winning media platform that hosts healthcare leaders, policymakers, and artists to discuss the challenges in the system and what we could do collectively to move healthcare forward.

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The global artificial intelligence in the healthcare market was valued at USD 6.7 billion in 2020, compounding by 41% yearly.
The combined augmented reality and virtual reality markets were worth $12 billion in 2020, with a massive annual growth rate of 54%
Telehealth went from $306 million to $3.7 billion during the pandemic,

We firmly believe that the future of health requires equity and quality of care while engaging providers and payors, and a fundamental shift is required to promote healthcare, not sick care.

About

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Previous Episode

Uberization of Healthcare: Caitlin Donovan, Global Head @Uber Health

3.6 Million Americans miss doctor appointments due to a lack of reliable transportation. No-show rates are as high as 30% nationwide. Meeting patients where they are to reduce healthcare costs, improve preventive care and reduce workforce burden has been possible when we realize there are many players in our ecosystem.
In this episode, I am conversing with Caitlin Donovan, the Global Head of Uber Health. We buckle up and take an Uber ride through the complicated roads within our healthcare world and discuss how we can make healthcare more accessible and affordable. We take a few breaks through our journey to acknowledge how far we have come by making technology innovations and using data to drive proactive care as providers and payors work in sync to address our patient's most challenging concerns, such as transportation and continuous care.
We finally stopped at our destination with the three takeaways for the future of health, which involves being able to execute value-based care and innovative technologies along with creating an integrated view on point solutions that integrates benefits design, operations design, and all key stakeholders that would result in a positive outcome.
About Host
Smriti Kirubanandan has a strong background in robotics and public health and is a Healthcare Executive, where she focuses on driving significant transformations within the healthcare ecosystem, concentrating on customer experience, intelligent automation, data analytics and insights, and is determined to make healthcare more accessible and affordable through innovation and empathy. She also spearheads brand development, thought leadership, and market research.

Support the show

Next Episode

Rebuilding Trust in Science: Nicholas Dirks, President and CEO @The New York Academy of Sciences

The Covid- 19 Pandemic has shown us our resilience, innovation in vaccines and technology and equally shown us a broken communication and trust.

“Scientists and their advocates must do more than simply improve how they explain scientific issues to the public. A broader set of stakeholders must be given a voice in debates about the social, cultural, political, and ethical implications of new discoveries." says Nicholas Dirks, President and CEO - New York Academy of Sciences.

In this episode, I am conversing with Nicholas Dirks, President and CEO of the New York Academy of Sciences, and we walk down the historical lanes of art and science to unlock the answers to challenges in healthcare, we acknowledge that science is primarily an experimentation, and the variation in guidance to the public could erode the trust in science. We discuss what it takes to rebuild trust in science. It involves building communication skills for scientists to communicate better to the public simply and transparently, bringing different stakeholders to the table, such as technology, business, and artists, to enhance further and expand one's thought process.
Nicholas Dirks, a world-renowned Historian and Anthropologist shares with us the importance of viewing healthcare beyond oneself and how we could play roles that can further contribute to society to make this world a better place.
About:
Nicholas Dirks is President and CEO of the New York Academy of Sciences.
Dirks was the 10th chancellor of the University of California, Berkeley, until mid-2017, where he is Professor of History and Anthropology. An internationally renowned scholar of South Asia, he is a widely respected public intellectual. At Berkeley he supported initiatives in data science, neuroscience, genomics, and undergraduate education, while fostering collaboration among universities both locally and globally.
Dirks has held numerous fellowships and scholarships and received several scholarly honors, including a MacArthur Foundation residential fellowship at the Institute for Advanced Study at Princeton, a Guggenheim Fellowship, and the Lionel Trilling Award for his book Castes of Mind. He is a fellow of the American Academy of Arts and Sciences, and serves on numerous national and international bodies, as adviser or member of the board. He is also a Fellow at the Council on Foreign Relations.
About Host
Smriti Kirubanandan has a strong background in robotics and public health and is a Healthcare Executive, where she focuses on driving significant transformations within the healthcare ecosystem, concentrating on customer experience, intelligent automation, data analytics and insights, and is determined to make healthcare more accessible and affordable through innovation and empathy. She also spearheads brand development, thought leadership, and market research.

Support the show