How Tech Is Changing Healthcare As We Know It
April 25, 2019
It is quite an amazing time to be a part of the healthcare industry. Times are changing and the recent massive technological advances have carried over into healthcare just like it has with many other industries. For a long time now, healthcare executives have felt that the importance placed upon technological involvement the field has been lacking. Especially since the cooperation between the two can produce, and indeed have been producing, incredible opportunities and results. Here are a few trends to keep an eye on as the industry continues to shift toward a more technologically driven future.
Artificial Intelligence (AI) has made incredible strides in growing and perfecting its usability. Now is an excellent time to incorporate its uses for better purposes. The use of artificial intelligence within the healthcare industry is expected to grow rapidly at an annual rate of 40% through 2021 – to $6.6 Billion, from approximately $600 Million in 2014.
- The main uses of artificial intelligence would be the following:
• Reminders: Great for helping patients take medication within a specific timeframe.
• Identify people at high risk: Discovering those in need of medical intervention and trigger
medical staff alerts to create custom care plans.
• Deliver personalized dosage recommendations: Based on each patient’s unique body
chemistry and associated environmental factors.
Interoperability is the ability of computer systems or software to exchange and make use of information. The U.S. ONC Information Block Rule requires health insurers to increase access to shareable information by 2020. This will provide the industry with key health information exchange. It will also promote education and awareness surrounding interoperability and standards. Finally, it will allow others to collaborate and integrate their own information, creating more opportunity across the healthcare system.
Telehealth is the use of digital information and communication technologies, like computers and mobile devices, to access health care services remotely and manage your health. These pieces of technology can be things used from your home or what a doctor can use to improve your services. About 50% of hospitals have telehealth solutions, and the others are expected to adopt these technologies in the coming years.
CONSUMER & CONNECTED HEALTH
Wearable tech is becoming increasingly more common. Fitbit, Apple Watch, and glucose monitors are the force behind remote patient monitoring and is now a $31.3 billion industry. Voice search is also popular, with 1 in 6 Americans now owning a smart speaker and 40% of adults using voice search once a day – it’s important to focus on voice-enabled solutions.
Information is now being shared across the healthcare system more than ever before, and the value of this has attracted cyber criminals. The demand for healthcare cyber security vendors has skyrocketed and will continue with the new regulations for the promoting of shared information.
BI & FI ANALYTICS
Clinical business intelligence (BI) is the process of applying data analytics to patient medical records through various systems with the goal of improving medical care. Financial business intelligence (FI) is similar to BI, it helps financial managers spend less time collecting financial and operational data and more time modeling scenarios and forecasting results. It gives businesses a complete overview so that executives can see numbers from each customer and process quickly and make strategic decisions correctly.
BI and FI solutions have seen a 20% and 13% increases since 2013, respectively, and is expected to grow significantly.
When it comes to the merging of technology and healthcare in 2019, there is a lot to look forward to. The advances in technology have opened up some incredible opportunities and possibilities. Is it a little unnerving? Possibly. And there will be those who choose not to accept these changes, but as Bob Dylan sings, “Your old road is rapidly agin’. Please get out of the new one if you can’t lend your hand, for the times they are a-changin’.”