There’s no wonder that the technological advancements have a significant impact on our lives. From navigation of apps, to guide you home safely, everywhere technology is playing a significant role.
However, technology in healthcare industry is transforming convenience, patient communication, improving diagnosis levels and prove to be life-saving.
The key technologies are providing the foundation for many booming healthcare innovations that are disrupting the industry. To keep pace with this continuous transformation, healthcare organization will need to embrace new technologies that will improve health outcomes, make it cost-effective, and provide value-based care.
As healthcare shifts to a model of any-time, any-place, continuous and personalized care, it is essential to analyze the prime technologies that will redefine the future of healthcare segment in 2018.
” We believe consumer health technologies – apps, wearables, self-diagnosis tools – have the potential to strengthen the patient-physician connection and improve health outcomes.”
– Dr. Glen Stream, Chairman, Family Medicine for America’s Health
The emerging new technologies combined with the variety of new drivers that include technology-centric transformation not only leads to cost reduction but also ensures value-based care in the healthcare industry.
Healthcare industry has been impacted in a substantial positive way in case of automation, machine learning, and artificial intelligence.
According to a study from the University of Michigan, the transformation of information from the conventional paper to electronic health records through digitization reduces the cost of outpatient care by 3%. These researchers estimated this as $5.14 in savings per patient each month.
Healthcare industry is facing revolutionary changes, looking out for the innovative ways to deliver the best patient outcomes while eliminating the dramatic healthcare expenses. What does the future of healthcare hold in 2018? Let’s look at six promising technology ready to transform the healthcare environment.
Artificial Intelligence plays an integral role in reshaping healthcare. The adoption of artificial intelligence in the healthcare industry is gaining momentum and solving a variety of problems of patients, hospitals, and healthcare industry faces.
It will provide much of the bedrock by powering predictive analytics and clinical decision support tools that help the providers into problems long before they might otherwise recognize the need to act.
Nowadays every patient is digitally empowered and prefer personalized care that has more accountability and is also more affordable. Artificial Intelligence does have numerous implications on various fields of the healthcare industry that includes disease management, clinical trials, diagnosis and treatment, patient engagement, monitoring of the patient, and wellness management.
AI is dominating healthcare treatments, such as making better treatment plans, assessing data to provide customized medication, and monitor procedures.
AI has the potentiality to track the chronic diseases through MRI, CT scans, ultrasound and x-rays, and thus saving the time of the patients to wait for a diagnosis from weeks to a few hours.
According to a 2016 report from CB Insights, about 86% of healthcare provider organizations, life science companies, and technology vendors are adopting artificial intelligence technology in healthcare. By 2020, these organizations will spend an average of $54 million on artificial intelligence projects.
Let’s look at some of the ways how AI is redefining the healthcare industry:
AI helps in compiling and analyzing information (medical records, patient information, and treatment history) using artificial intelligence and digital automation. Robots collect, store, re-format, and trace data to provide quick delivery of healthcare services.
Analyzing tests, X-Rays, CT scans, data entry, and other tedious tasks can all be done faster and more precisely by robots.
Artificial intelligence systems have been designed to analyze data, assess the reports from a patient’s file, and thus help them to choose a suitable treatment plan. With the power of AI, early detection of life-threatening disease is possible.
AI helps in monitoring patient’s fitness level and send health updates to the respective provider to improve or alter patient’s treatment plans.
The demand to bring dramatical changes has always been an underlying ripple in every facet of business, and when it comes to healthcare, this is done with a sense of inimitable urgency. Creating high valuable virtual records associated with a patient is one of the most significant challenges of healthcare IT.
The blockchain is a distributed system that records peer to peer transactions, tracks the changes across networks, and stores and exchanges data for cryptographies. Blockchain technology has the potential to revolutionize healthcare, placing the patient at the core of the healthcare ecosystem and enhancing the security, privacy, and interoperability of health data. This technology will offer a new model for health information exchanges (HIE) by making electronic medical records more effective, and secure.
Healthcare Blockchain Adoption- 2017, 2020, and 2025
This statistic depicts the projected distribution of healthcare blockchain adoption across healthcare applications worldwide, in 2017, 2020, and 2025. It is projected that 55 percent of healthcare applications will have adopted blockchain for commercial deployment by 2025.
“Adoption of blockchain technologies will be driven organizations basing their development on providing better quality care much the same way the regional health information exchange concept kicked off digital health data-sharing. In some jurisdictions data exchange worked pretty well.”
– Brian Behlendorf in an interview with HITInfrastructure.com
How Blockchain will impact healthcare?
Security and privacy: Patient privacy and confidentiality are the prime issues within healthcare. For those in healthcare, necessary steps need to be taken to prioritize and improve security. Although there have been initiatives, blockchain could be the perfect solution for healthcare.
Collaboration and governance: A massive amount of available data has increased in the past few years, and it will continue to do so. Blockchain would improve data governance, achieve greater ownership in the data, enhance interoperability, and result in better data-driven decision making.
Data and analytics: Blockchain technology is defined as a shared, permanent record of peer-to-peer transactions that will provide new insight on how healthcare providers store and exchange TechRene data, resulting in greater transparency and trust. Shared data within the virtual database will lead to the continual updates, thus improving the real-time analytics.
The health data volume is multiplying, and it is expected to breed dramatically in the years ahead. With more than 1.2 billion clinical documents are produced in the U.S. yearly, doctors and life scientists have an ocean of big data for their core research. Moreover, massive amount of health-related information is produced and shared with adoption of wearable tech. The wave of such data flow opens new opportunities for more informed healthcare.
Data science stands an effective healthcare trend to optimize the way hospital operations are managed. With data science, the industry can find well organized, cost-effective ways to harness vast amounts of existing healthcare data, enhance its potential to revolutionize healthcare with a precise diagnosis.
With the capability to collect, structure, and process a high volume of data and analyze a pattern, to gain in-depth knowledge of the human body is the essential requirement for data scientists and machine learning experts across the world.
Despite having a vast amount of health data at disposal, the diagnostic failure rates are still high. According to the recent research by the National Academics of Sciences, Engineering, and Medicine, around 5% of adult patients are misdiagnosed every year in the United States making it a total of 12 million people. Additionally, the postmortem examination results research reveals that diagnostic errors cause almost 10% of patient deaths.
Whether it’s predicting a patient with a tumor, the risk of re-admission, or the misclassified diagnoses in electronic medical records, data science plays a significant role. Data science will transform the future of the healthcare by managing and organizing enormous volume of data that will prevent healthcare problems and saving lives of millions.