Paradigm shifts in Healthcare industry

Global healthcare industry is blooming day by day with advent of recent technologies. 2020 is poised to witness some of the most amazing discoveries happening around the world that could catalyze the blueprint of managed care in health industry. In a nutshell, lets say to be in metro, local trains or private buses, welcome the ushering of medical consultation in the form of videos without having to visit doctor’s clinic. The healthcare industry is going to become more stable and dynamic with technology entering in all facets as well as application of real-time data analytics. As a tech-savvy persona, you’ve got to keep close look at latest happenings around the healthcare industry.

  • Big Data, Analytics and Artificial Intelligence: Big data, analytics, and AI together contributes effectively in order to improve quality of care of patients and enhance health status of an individual. Analytics tool helps patients in tracking their health data and sharing with physicians in order to get further recommendations about their treatment regimens. This could help patients in real time data tracking by obtaining valuable insights.
  • Standardization of drug pricing: Upsurge in high prices of drugs kicked off by implementation of GST in India add to worries in patients seeking medical treatments. In coming years, we could expect government regulations in price capping of essential medicines. Recent publications by department of pharmaceuticals claims pricing reductions of 20 % or less in medicines.
  • M-health: Mobile health apps have increased penetration of new technologies in recent years. This has increased patient comfort as they can use app from any remote areas around the world using their smartphones and tabs. Home healthcare is a new concept wherein patients can get access to healthcare facilities without having to step out of their houses. More than 55% people staying in rural areas are about to take benefit of these services.
  • Internet Of Things: IOT feature in medical devices having quality and effectiveness of service gives an edge for elderly patients suffering from chronic diseases that recalls constant supervision. Just look at what Kaa did for its medical diagnostics tools. They developed cross device connectivity for their users, that helped healthcare companies making hardware and software integrate Kaa’s functionality in their system to meet IT objectives at lower cost.
  • Blockchain: Blockchain is a new form of digital medical technology that saves patient’s medical records on its platform. It facilitates storing of data such as patient medical history, insurance plans, prescriptions, treatments, facilities used in hospitals on one single platform and data can be regularly updated as well as accessed by anyone. Sources of data to be loaded on blockchain stems from patient documentation, handheld devices, lab test reports, EMR and so on.