Introduction
As the world continues to grapple with evolving healthcare challenges, think tanks at the sixth annual Milken Institute Middle East and Africa (MEA) Summit 2024 called for bold and innovative strategies to transform healthcare ecosystems in the region. Held from December 5-6 in Abu Dhabi, United Arab Emirates, the summit focused on the theme, “Investing in a Shared Future.” Key thought leaders and industry experts in the healthcare sector, including Helmy Elthoukhy (Co-Founder and Co-CEO of Guardant Health), Helmut Schushsler (Chairman and CEO of TVM Capital Healthcare Partners), and Geetha Tharmaratnam (Chief Impact Investment Officer of WHO Foundation), participated in the panel session titled “Building Smart Health Ecosystems: Shaping the Future of Health Care.” The discussion was moderated by James Bethel, Member and Former Health Minister of the UK House of Lords.
Defining the Vision
Helmy Eltoukhy outlined the concept of building smart health ecosystems, emphasizing the need for a robust framework to achieve personalized health, precision medicine, and proactive healthcare. However, he acknowledged the challenges, stating, “There is still a lot of challenges in terms of exactly what it takes.”
The panelists identified three critical shifts required to build smart health ecosystems and shape the future of healthcare in the region:
Healthcare Is Data-Starved
Eltoukhy noted that healthcare remains “very data-starved,” with insufficient information being collected to transition to a truly proactive healthcare system. He emphasized the need to centralize healthcare records using Electronic Medical Records (EMR) and implement proven best practices.
“Even though we are on the bleeding edge of technology, the biggest gains can be achieved simply by implementing what we already know works,” he said. Eltoukhy highlighted significant gaps between healthcare guidelines and actual practices, even in developed countries.
He stressed that foundational steps—such as screening, preventive care, effective disease management workflows, and ensuring no patient is left behind—are crucial for building smart health ecosystems.
The Role of a Strong Regulatory Environment
Helmut Schushsler emphasized that all necessary technology already exists but must be integrated effectively. He argued that scaling and accessibility hinge on establishing a supportive regulatory environment, appropriate reimbursement structures, and clear tariffs.
“Smart health ecosystems won’t happen without government support,” he said, warning about resistance from vested interests in the healthcare market that could hinder innovation. According to Schushsler, navigating this field of tension between progress and opposition is critical for success.
Capital with Risk Appetite
Geetha Tharmaratnam highlighted the insufficiency of current healthcare investments relative to the ambitious targets set by many Middle Eastern and African countries. She noted that in some nations, more funds are spent servicing debt than investing in critical social infrastructure, including health and education.
“Middle East and Africa will not achieve their goals without sufficient capital,” she asserted, calling for increased investments from private entities, including financial institutions, multilateral development banks, development finance institutions, and impact investors, to bridge the funding gap.
Tharmaratnam urged the private sector to step up, given the constraints in public sector investments, to finance groundbreaking healthcare innovations necessary for the region’s development.
Conclusion
The MEA Summit 2024 underscored the pressing need for systemic transformations in healthcare ecosystems across the Middle East and Africa. A proactive approach grounded in data integration, supportive regulatory frameworks, and risk-oriented capital investment is vital for creating smart health ecosystems. As stakeholders collaborate across public and private sectors, the region stands poised to unlock innovative healthcare solutions that ensure an equitable and sustainable future.
