3 min readWhen assessing the current landscape of healthcare while looking forward to the year to come, we see one predominant theme: value-based care. This holistic focus on the quality of patient outcomes has very practical outcomes in reducing the cost of patient care. The ability to realize these benefits is highly dependent on the use of advanced technology to service the patient’s needs satisfactorily in and out of the physician’s office.
Data-Informed Patient Care
Data is the key to understanding your patients and providing a higher quality of care in the near- and long-term. A recent Stanford study estimated that by 2020 over 2,314 exabytes of healthcare data will be produced per year. Collecting and combining data—qualitative and quantitative, from all touchpoints—and interpreting that data inform a new map of 24/7/365 patient treatment and where healthcare is heading. This goes beyond individual applications—data will be leveraged to train healthcare professionals, inform research, and to fully understand the implications of clinical trials.
The importance of using and applying data has been a challenge and opportunity for healthcare professionals for some time. However, technology has caught up with the need to make the extraction and application of highly useful insights accessible for healthcare institutions. So much so that it has become a key differentiator in what has always been a highly competitive market.
As a healthcare professional where do you see the biggest weakness when it comes to recording, centralizing, and interpreting your patients’ data? How do you make sure that you and other providers have instant access to powerful and accurate near-time data analysis?
The New Reality of Immersive Healthcare
Applications for big data extend to its interactions with artificial intelligence (AI) and other immersive technologies. According to Everest Group, artificial intelligence (AI) technology investments in healthcare are expected to value more than $5 billion by 2024. While immersive technologies such as AI, virtual reality (VR), augmented reality (AR), and mixed reality (MR) will not replace humans or real life experience, they can help with diagnostic imaging, drug discovery, and risk analytics applications.
These technologies can assist patients with medication adherence, speed recovery for those with neurologic conditions, and even give providers “hands-on” experience. The applications are endless. And the “future” is here. According to Frost & Sullivan, approximately 80% of healthcare professionals believe that AI will really take off in the mainstream in 2019.
Providers seeking new ways to innovate and move beyond their local domain will find direct applications for immersive technologies. Telemedicine—which improves healthcare by making it easier for patients to get access to healthcare professionals using various technologies, such as AI and ML—is set to see a rise in 2019. According to Data Intelligence, the telemedicine market worldwide is expected to be worth $113.1 billion by 2025.
The bottom line is:
- The digital healthcare ecosystem is constantly evolving
- The emergence of new pharma trends is increasing, fast
- Healthcare professionals need to adapt to a more agile way of working
- Healthcare needs to engage with and influence stakeholders to recognize the impact
What will your digital healthcare business look like in 2019?
We take a look at some of the latest digital trends that are set to affect the industry in 2019 in our latest white paper. To learn more, read “Healthcare trends in 2019.”