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Technological Transition Leverage the Future of the Healthcare Industry

Technological-Transition-Leverage-the-Future-of-the-Healthcare-Industry

The dynamics of the healthcare industry are consolidating rapidly with technological advancements. The need for constant improvement in quality, affordability, and accessibility, pushes to achieve opportunities and innovations. The phenomenon is also attributed to consumer’s inclination towards technology and convenience.

There is a massive shift in the employment of machines and technology to enable prevention and advanced specialty care. That’s because the focus of digitally enabled healthcare “is less about the technologies to be used and more about doing things differently,” says John Bosco, chief technology officer at Northwell Health, based in New York. Technologies, such as Machine Learning, Artificial Intelligence, AR, VR, Big Data, and Analytics are emerging as powerful tools to assist organizations and healthcare providers in operating effectively.

Also, from the current perspective of the COVID-19 pandemic, the system has broadened its scope with unconventional strategies to cope with the worldwide situation. The dramatic change to technology-driven healthcare solutions worked hand-in-hand to stay relevant, and as a stepping stone for the coming future.

Below listed are five healthcare trends and their potential implications: 

AI has become a pivotal part, and significantly rule future trends in healthcare. AI in healthcare improves clinical operation optimization, diagnostic precision through automation in the workforce, and quantitative imaging. It also predicts malware infections and fraud threats, among other security measures. Besides, the technology allows the patients to control their own care, including chatbots and wearable devices. It also finds application in the development of algorithms that assist oncologists in offering the best potential insight on biopsy readings.

Although these applications present barriers with the limitation of one AI algorithm solving one problem, we can expect to see alliances developing algorithms that interpret multiple data sources simultaneously from different variables.

  • Drastic Change in Reach and Services through Telehealth

Telehealth services have evolved over the past few years. Many health systems, doctors, and specialties are providing facilities to treat patients to a great extent. This widening scope is due to benefits, such as extremely efficient, saves time, and aid both patients and physicians. The expansion of telehealth is opening opportunistic doors for virtual reality in healthcare. FaceTime and Google Chat have allowed doctors to virtually follow up with the patients. This will boost on-camera consultation, reduce last-minute appointments, increased willingness for remote monitoring services, and minimize the financial and physical toll of travel.

  • Blockchain: Streamline Care and Prevents Costly Mistakes

Communication errors between medical professionals cost a brunt of around $11 billion a year to the healthcare industry. Maintaining a patient’s medical records is an exhausting and time-consuming process, but, blockchain offers a cure. Blockchain-based medical records create one ecosystem of patient data, providing access to anyone involved in the treatment process. This leads to faster diagnoses and personalized care plans. ​The technology places the patient at the center of the ecosystem, and transforms the interoperability, privacy, and security, of health data. 

  • Big Data – A Movement towards Value-based Healthcare

In recent years, data collection in healthcare has moved into the digital realm; reaping benefits like faster analysis and accuracy. The rise of this technology means improvements not just for patients, but to overall the healthcare industry. It explores its presence in research advancements, prevention of the onset of diseases, and reduce costs. With this new approach, the scope of big data in medicine is at an all-time high. Companies are using tools like SaaS BI in their research rather than their background and experience. Thus, it can be said, the application of big data in healthcare will boost affordability, efficiency, and save more lives.

  • Digital Health to the Rescue

Digital health is gradually occupying the position of a worthy tool in the medical device segment. With the pacing digitization, medical devices such as health sensors, wearables, and trackers, are integrated with IoT. These early adopters are poised to enable patients, and healthcare professionals to accumulate critical data, identify symptoms, and boost remote patient monitoring. In addition, specialized devices fitness trackers, have cultivated a systematic push to personalized healthcare, and is expected to continue the trend in the coming years.

Conclusion:

The healthcare technology industry is advancing unprecedently, backed by new ways to outperform conventional challenges, efficiency, and productivity. Constant innovations and changing requirements will keep the competitive edge high, pushing to a new era of innovations and excitement.

Author: Komal Surana

Sr. Content Writer and Editor, Inkwood Research
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