The traditional way that society looks at healthcare is to let people get terribly sick and then have an emergency room to take care of them and spend a lot of money on acute care for people who would have been kept out of hospital in the first place if they had had a lifestyle change.
Philips is uniquely positioned to help reshape and optimize population health management by leveraging big data and delivering care across the health continuum, from healthy living and prevention to diagnosis, minimally invasive treatment, recovery, and home care.
Crucially, healthcare needs to become connected. It should become effortless for medical professionals to share relevant data with colleagues around the world. Medical devices and systems in hospitals should be able to combine multiple sources of information.
Concerns about the possible side-effects of connected care are swept aside by the expectations of the benefits when people are confronted with a chronic disease themselves. Resistance that could be privacy-related completely disappears.
We undertook a huge internal transformation to sharpen our customer focus, step up innovation, improve productivity to ensure competitiveness, change our culture, and simplify our ways of working so that our size and scale became a competitive advantage rather than a bureaucratic hangover after years of diversification.
Light is one of the basic areas that will give you comfort, but it is undergoing a technological revolution in moving from conventional lighting to semiconductor-based lighting, and as it does that, it is becoming intelligent with the transition from analogue to digital.
We typically sell a catheter lab to a hospital, and it sits there for the next 10 years, and we don't visit the cardiologist on a daily basis. Volcano have a disposable business. They are in the cath lab on a daily basis.
We can't think in terms of designing products that we throw over the wall to customers, but instead, we need to design products that are upgradable and maintainable and that can be mined for materials and components that can be reused.
The global healthcare industry is undergoing a paradigm shift, providing significant opportunities for Philips to deliver more integrated solutions across the continuum of care - from prevention, diagnosis, and treatment to monitoring and aftercare.
When I became CEO, I was really worried that we were in commoditized segments that were mature and no longer growing. So we made a radical pivot into health technology because that is one of the world's unmet needs.
We are addressing duplication and complexity. At the same time, we are investing more in research and development, speeding up the time to market of new innovations, and expanding our sales force in markets where growth is to be found, like Turkey, Russia, the Mideast, China, and southeast Asia.
Even though we live in a fast-changing world with short term-ism all around, it requires years of determination to transform a company and structurally reap the rewards. Innovation companies need to set their sights on solving unmet needs - but this approach requires focus and long-term tenacity.
If we are to ensure that healthcare remains affordable and widely available for future generations, we need to radically rethink how we provide and manage it - in collaboration with key health system partners - and apply the technology that can help achieve these changes.
Government should seek more strategic approaches to developing dynamic, resilient infrastructure. Business must be more creative in offering financing solutions as partners with government, and people must support sustainable innovation as a public policy priority.
Healthcare continues to move outside the hospital and into our homes and everyday lives. With leading doctors and psychologists, for example, we've developed personal health programs designed around patients to catalyze sustainable behavioural change.