With the increasing scarcity of critical raw materials and growing waste mountains, a transition towards circular economic models is the only way forward. At Philips, we believe that digitalization is becoming a major catalyst for more efficient use of resources and a faster shift towards sustainable models of healthcare, including wider access to care.
Circular economy supporting sustainable healthcare
Circular, service-oriented models are central to reducing waste and carbon emissions, and so making healthcare more sustainable. This is why, at Philips, we have started to fundamentally redesign our business models. With the new periodic, usage- and outcome-based business models, we are moving from selling the physical product or system to offering its use as a service. For radiology or oncology departments, for example, it’s no longer about getting a scanner – it’s about getting the right imaging and analytics needed to support precision diagnosis and personalized treatment
And by designing scalable solutions that are easier to implement, install, maintain and use, our customers have access to the high-impact technologies they need – with a much smaller environmental footprint and without the risks and cash impact of big upfront investments in infrastructure and systems.