June 18, 2024

  * Healthcare leaders indicate automation is crucial in addressing staff
    shortages, but staff remain skeptical
  * Interest in Generative AI grows, with majority of health leaders investing
    in, or planning to invest in AI technologies to help reduce delays in
    patient care

Amsterdam, the Netherlands- Royal Philips (http://www.philips.com/newscenter)
(NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced
the results of its Future Health Index 2024
(http://www.philips.com/futurehealthindex-2024) report: Better care for more
people. Launched at HLTH Europe (https://europe.hlth.com/), the ninth annual FHI
global report shows that healthcare leaders are turning to virtual care and AI-
enabled innovation to address pressure due to workforce shortages, financial
burdens, and growing demand.
"Increasingly, we're seeing long wait times and staff shortages making it
difficult for people to get timely access to care when and where needed. The
Future Health Index 2024 global findings show health leaders believe these
barriers to access to quality care are getting larger," said Shez Partovi
(https://www.philips.com/a-w/about/executive-committee/shez-
partovi.html#triggername=close_tab), Chief Innovation & Strategy Officer at
Philips. "This year's report shows how innovations including AI are helping to
free up time for staff and reduce wait times for patients. However, as health
systems roll out AI tools to save time and reduce barriers to care, it's
critical to bring staff along on the journey to ensure an inclusive AI rollout
with patient and clinician experience is at the forefront."
Staff shortages are taking a heavy toll on healthcare professionals and patients
Almost two-thirds (66%) of healthcare leaders report increased incidence of
burnout, stress, and mental health issues in their workforce, deterioration of
work-life balance, and/or reduced morale and engagement. Delays in care due to
staff shortages are an issue for more than three in four healthcare leaders
(77%) - causing concerns about increased waiting lists for appointments (60%),
longer waiting times for treatments or procedures (57%), or delayed or limited
access to screening, diagnosis, and preventive care (54%).
"The results of the FHI Report and the 3 critical gaps identified align
perfectly with the challenges I face in my clinical practice each day. The
staffing gap is the most concerning aspect as it has a direct negative impact on
patient care. As health leaders, we need to focus on increasing the adoption of
digital technologies to improve efficiency and reduce the workload, but not
without engaging with healthcare staff to ensure adoption of these technologies
is embraced," said Prof. Dr. Chiara Bucciarelli-Ducci
(https://www.imperial.ac.uk/stories/alumni-awards-2022-chiara/), cardiologist
and CEO of the Society for Cardiovascular Magnetic Resonance (SCMR
(https://scmr.org/)), London, UK.
Automation can help ease the burden on staff
Most healthcare leaders (92%) agree that using technology to automate repetitive
tasks or processes is critical for addressing staff shortages in healthcare.
However, nearly two-thirds (65%) say healthcare professionals are skeptical
about its use. Concerns were raised around automation and quality assurance and
the potential for overreliance on automation leading to staff losing essential
skills and knowledge. Today, automation mainly reduces the administrative
burden; however, two in five (41%) healthcare leaders plan to implement it for
workflow prioritization.
Virtual care may also help bridge the staffing gap, with 89% of leaders already
seeing a positive impact of virtual care in easing shortages. Leaders also see
benefits for staff satisfaction with more than half (54%) saying virtual care
enables more flexible work schedules and creates new career options for
healthcare professionals.
Patients also benefit from remote monitoring which can offer more positive
experiences while reducing the strain on overstretched hospital staff. Leaders
see a bigger role for remote patient monitoring in the future and are planning
an expansion into areas such as telestroke care (40%), maternal and fetal health
(36%), and postoperative monitoring (35%) within the next three years.
Health leaders keenly interested in Generative AI
Last year's report showed leaders were planning investments in AI; however, the
FHI 2024 results show AI for clinical decision support is already being
leveraged for in-hospital patient monitoring (43%), with more investments
planned in the next three years. Additionally, the majority of leaders (85%) are
currently investing in, or planning to invest in, generative AI technologies.
Financial challenges must be addressed through sustainable strategies
The vast majority (81%) of leaders note that financial challenges are having a
direct impact on patients. Almost 3 in 5 (59%) are unable to invest in new or
more advanced medical equipment or technologies. At the same time, 89% are
planning growth strategies to serve more patients or expand services.
Additionally, 86% of healthcare leaders also believe that reducing CO2 emissions
and the environmental impact of healthcare should be a top priority for
healthcare organizations, meaning that any strategies to address financial
challenges must be sustainable.
The FHI 2024 report is based on proprietary research among 3,000 healthcare
leaders conducted in 14 countries. To access this year's report, visit Future
Health Index 2024 (http://www.philips.com/futurehealthindex-2024).
For further information, please contact:
Kathy O'Reilly
Philips Global External Relations
Tel.: +1 978-221-8919
E-mail: Kathy.OReilly@philips.com (mailto:Kathy.OReilly@philips.com)
About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company
focused on improving people's health and well-being through meaningful
innovation. Philips' patient- and people-centric innovation leverages advanced
technology and deep clinical and consumer insights to deliver personal health
solutions for consumers and professional health solutions for healthcare
providers and their patients in the hospital and the home.
Headquartered in the Netherlands, the company is a leader in diagnostic imaging,
ultrasound, image-guided therapy, monitoring and enterprise informatics, as well
as in personal health. Philips generated 2023 sales of EUR 18.2 billion and
employs approximately 69,100 employees with sales and services in more than 100
countries. News about Philips can be found at www.philips.com/newscenter
(http://www.philips.com/newscenter).
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