Krishna Udayakumar, Director of the GHIC and IiH, gave the keynote address–Defining the Future of Health: Innovations to Transform Health Systems and Improve Health–at the Asia Pacific MedTech Forum 2019. In his address Udayakumar talked about the connection between poverty and healthcare. While extreme poverty is declining, it’s declining too slowly, he said. “At this pace, only 39%-63% of the population will have access to essential health services by 2030.” At the same time, out-of-pocket costs for healthcare are rising. In 2015, 930 million individuals spent more than 10% of their household income on healthcare; the number of families impoverished by out-of-pocket health expenditures is growing. These barriers to affordable, quality healthcare present an opportunity for innovators who understand the needs of consumers, use digital technology, develop asset-light business models, and unlock the power of data. Such high-value healthcare reform creates value for individuals and communities, accountability and integration across providers, and funding resources.

Krishna Udayakumar, Director of the GHIC and IiH, gives keynote address at Asia Pacific MedTech Forum