A New Role for Pharma in Healthcare Value Chain

| February 18, 2015

article image
The illustrative example below from the deck of Oliver Wyman's life sciences team shows how drug makers can combine a range of services to meet the needs of patients, providers, and payers simultaneously in a holistic, integrated fashion.

Spotlight

Boston Scientific

At Boston Scientific, we work collaboratively to solve healthcare’s toughest problems by developing solutions that matter most to those suffering from debilitating and life threatening conditions and the healthcare professionals who provide their care. Across 100+ countries, we help providers deliver care more effectively by reducing costs, increasing efficiencies and expanding access to care in order to help more people in more places live longer, healthier lives. We go beyond our mission of transforming patient lives by investing in the future and the well-being of our employees and our planet.

OTHER ARTICLES
HEALTH TECHNOLOGY

How To Choose The Right Healthcare Software Development Company?

Article | March 15, 2021

The world is moving towards digitalization in every domain. And now COVID-19 has imposed a need for remote work and communication environments. In that case, healthcare organizations have started utilizing medical software with cutting-edge technologies that could offer mobile health solutions. And they could cater to such needs through a healthcare software development company. Therefore, the medical institutions must opt for the right healthcare software vendor that is familiar with the new trends in the healthcare sector. Such companies can help optimize digital patient care through health care application development. Importance of healthcare software development company Or why you need one? Healthcare software development companies process applications to store, retrieve, and share user data. They are connected globally through cloud services. Partnering with a healthcare software company can avail you of many benefits like: Better Patient Experience A professional healthcare software developer can manage your medical software very smoothly and effectively. This could help in delivering better patient experiences. It also enables you to get access to the patient’s information before the appointment. A dedicated healthcare development company will ensure to deliver faster patient checks with lesser paperwork. The information is filed electronically and considers order prescriptions smoothly. Easy Scheduling and Maintenance Healthcare software development services offer a strong scheduling system. It helps in finding out the convenient date and time for the patient’s appointment at their comfort. The medical software is flexible to perform such tasks smoothly. It also solves the issues of overbooking through proper scheduling. Easy Billing and EHR Billing is an intimidating task in the healthcare industry. A good healthcare software offers easy billing and EHR facilities. It also helps you automate the processes involved in the EHR model. Healthcare software development services: Important factors to consider Focus on usability and ease of use Healthcare employees have a busy job. So, they prefer a user-friendly and easy-to-navigate interface. Only such an interface could ensure a high user adoption rate. Additionally, healthcare institutions need to prepare their employees for any changes in their working process that the new software solutions might bring. For that, they need to provide adequate training and support, so that when the time comes, they can derive the maximum advantages out of the software solutions according to Vishal Shah from TatvaSoft.com Integration with various applications Various system integration requirements are used to make sure the new solutions work properly with other systems. You should also look further for whether current legacy systems need any upgrades to integrate them with the new solutions. A professional administration Access to the data by specialist doctors to update the data is necessary. However, access to the data should be strictly restricted with proper arrangements. Information security Medical care organizations need proper security measures with laws on data, protection, and other security principles. A leak of patient information is a critical issue that may cause weighty business misfortune. Only the approved staff with rights to oversee the admittance to information and patient records can approach the necessary data. Development costs Development costs depend on the size and complexity of the software or applications which is directly connected to the specific business needs of the healthcare organizations. First, an organization needs to identify key problems that require software solutions. Also, consider the future IT needs of healthcare institutions such as potential business expansion and its scalability and integration requirements. A mobile workforce can help your organization attain more efficient workflow and enhanced productivity. Healthcare IT infrastructure IT infrastructure includes hardware, devices, internet connection speed, and/or mobile 4G connection, and many more. Healthcare agencies need to consider whether such infrastructure will be offered by the development company or if the organization has to use its resources. While using employees’ resources may compromise security, it is suggested that employees must be given the devices and technologies by the companies. The devices and technology need to be updated on the regular basis. Questions to Ask Healthcare Software Development Company We have compiled a list of some questions that could help you get the best and most suitable medical IOS and Android app development partner. Do you know/understand how HIPAA privacy protection rules might apply to healthcare software products? HIPAA can be subtle and complicated. Federal and state laws have included HIPAA Privacy, Security, and Breach Notification Rules for the privacy and security protections for hospitals and medical institutions. There will be many healthcare software developers who won’t be familiar with HIPAA and how it is applied to the products. You must check that out. Can we sign an NDA? If your business idea is precious from the IP (Intellectual Properties) perspective then you must ask the app development company to sign the NDA (Non-Disclosure Agreement) before you discuss any details of the project. It is also signed to protect sensitive business details from any third party. Can I have the contact information of your former clients? It is vital to have a look at the mobile application development agency before you consider them to hire. However, you won’t get the entire picture and other details but to get that you can ask the company for the contact information of some of their former clients. Get in touch with their former clients, ask them about their experience working with the agency. The goal is to not only have a great app at the end but also go through an app development process that is stress-free, easy, and enjoyable. Checking for reviews and references is the key when it comes to hiring mobile application developers. What is your Software development methodology? Latest best practices like scrum and agile development are far more reliable compared to conventional methods. Software development companies nowadays practice them to be more efficient and productive. They understand that the market changes quickly and to cope up with it, they need to be capable of adapting to the changes quickly. How experienced are your healthcare software developers? Check for the experience of the developers employed by your medical software development partner. They need to be qualified to build medical solutions and deliver them within a predetermined budget and timeline. How to choose? Even if you have decided to work with a healthcare software development company, there are hundreds of companies out there, and all claim to be the best in the field. How would you choose the one that can help you achieve your goals? Analyze their Area of Expertise and their Experience as a Healthcare Software Developer Quality is the one thing that should be never compromised no matter how complex your demands are. In the software development healthcare industry there are many standards and compliance requirements like HIS and HIPAA that need to be catered to. Therefore, you need to analyze their area of expertise and their experiences. Only experienced healthcare software vendors can understand and fulfill the critical needs of customers. However, expertise isn't enough. You also need to look at the certifications to gain deeper knowledge about the healthcare solution developers’ level of professionalism. Go Through Their Healthcare Software Development Portfolio to Get a Better Idea of Projects and Quality Go through the portfolio of the potential healthcare software development partner. Look at their past projects in the healthcare domain and check if it matches your requirements. Research about their market reputation and reach as well as find out whether they serve the organizations in your niche. The key factors to look for in the portfolio: Types of healthcare software they have delivered in the past Clients they have served- names, strength, and value The complexity of projects they’ve handled The kind of experience they provide to the users Technologies they excel in Reviews and Ratings Could Be Helpful Find out what the customers are talking about this company. Analyze their reviews and ratings. Understand how a particular healthcare software development company deals with their clients and cater to their services. Carefully Understand their Process Almost every company has a unique process to provide their healthcare software development services. But all processes generally consists of the following: 1. Requirement analysis 2. Scope freezing 3. Product prototyping 4. Product development 5. QA and testing 6. Deployment 7. Post-launch support These software development processes could follow any approach from waterfall to agile methodology. Know the details of the process from your healthcare software development partner and understand how it aligns with your goals. And never hesitate to clear your doubts. Know the Cost to Develop a Healthcare Software Everyone has a budget and make sure you have communicated well about your software development budget with your potential healthcare technology partner. Ask them about the cost to build the software and look for the cost to quality ratio. After gathering all the necessary details, make an informed decision. Understand the Engagement Models to Choose the Best Engagement models are the ways of collaboration for the business relationship. You can choose from the following: A. Turnkey Engagement Model It is also known as the fixed price model. When you share your demands, you get a fixed quote for the work. This is an ideal model for: Short-term projects Projects with a well-defined scope For assigning test tasks to the developers B. Time and Material Basis Model In this model, hiring is done based on time and material. A client agrees to pay a hired software development company based on the time the developers spend after developing their products and other relevant tasks. The payments are done according to the mutually agreed hourly rate. The model is suitable when: Unclear requirements or specifications, A long-term project with dynamic pricing The client needs more flexibility C. Dedicated Hiring Model As the name suggests, it enables you to hire dedicated resources from the web development company. One can hire a web development company for your project, depending on the number of hours spent by the developers on your project. This model is best suited for: Clients who are looking for an extension to their in-house team Those who have unclear project requirements The hirer is looking for more flexibility Find out What Does the Healthcare Software Development Company has to Offer Post-launch You are mistaken if you believe that the healthcare software development cycle ends with the launch of the product. There are chances of hitting obstacles any time and do not forget that the market keeps changing in terms of technology and user demands. This means you might need to upgrade your software or need to add some features to it. For all such requirements, the healthcare software development agency offers support and maintenance services for a limited time post-launch. There could be specific terms and conditions for it too. So, before you hire any agency, do not forget to inquire about the support and maintenance services offered by them and its price. What is the Team Structure that They Would Provide You? Ask about the team structure offered by the company for your software development project. You can interview a potential team of software developers if you want to. You should do it to assess the capacity of the team. In general, a software development team consists of: 1. Requirement analyst 2. Project manager 3. UI/UX designer 4. Software developer 5. QA tester and engineer Also, you need to convey your requirements clearly to the software development agency so that they can do justice to your project. Ability of a Healthcare Software Development Company to Assist You For Expanding Your Software’s Features The main goal of developing medical software is to increase the efficiency of your operations, automate them, enhance them, and last but not least: offer a better patient experience. Therefore, above all other things, you must check out the ability of the custom healthcare software development company to expand or scale-up the product as per your needs. Areas of Use Custom healthcare development is used in the following areas: Telemedicine Telemedicine is a flourishing branch for custom software development companies in the healthcare business. App development is crucial for telemedicine and healthcare providers because it facilitates teleconsultation and healthcare information. Mobile applications play a key role in sharing medical services and information among patients. Healthcare portals and patient databases There is a wide scope for a healthcare app or a patient portal that could compile and store the data categorically over long periods. This type of storage of health data can be accessible by the doctors in the form of medical records when they are seeing the patient, even if it is the first time. One can pull the data off the EMR and EHR which maintains such a set of data records. To ensure the protection of the data, personal information is kept confidential and only between the patient and doctor, on the portals. E-consultations and e-prescription E-consultation is one of the latest practices in digital healthcare services. Mobile apps are developed that are compatible with both iOS as well as Android and are user-friendly. Such applications enable patients to consult with the doctors remotely based on their healthcare needs and get e-prescriptions as well. They can also get online treatment plans for certain diagnoses through this. The healthcare software developers have similar solutions for virtual billing software and e-pharmacy management. VR and AR healthcare software development Since their initial release, Augmented Reality and Virtual Reality have been very helpful in medical care especially in the COVID-19 remote healthcare scene. Ran through a powerful technology stack, AR-VR enables the patient to feel and see how a treatment or a medical device works. Big Data and AI solutions for healthcare Healthcare is one of the Big Data industries. It manages the flow of large volumes of medical data daily. To ensure that the collected data is used well, healthcare services are now powered by AI. Health tracking and fitness apps Wearable technology is gaining immense popularity these days. The products include smartwatches and bands that could track heart rate, sleep cycles, number of steps walked, and many more. These kinds of applications built by expert healthcare developers are among the most downloaded on the internet. Conclusion Custom healthcare software is important for healthcare organizations to make their process easier as possible. The COVID-19 pandemic is further popularizing telemedicine, e-consultation, AI solutions, fitness, and other health applications. I know choosing a suitable healthcare software development company is not easy, but if you follow the process mentioned in this article, you can get the best and top-rated software developers who create apps for the medical and health care industries. I hope this article has guided you well to understand better about healthcare software development companies. However, if you have any queries or suggestions, please connect with us in the comments section below.

Read More

Transforming Healthcare From A ‘Service’ To A ‘Product’

Article | March 15, 2021

Healthcare is top of mind as the coronavirus hits hard everywhere. The inefficiencies of the system itself are on full display during the pandemic — where testing is hard to come by, diagnoses and treatments are reactive rather than proactive, and many people do not get the care they need, when they need it. Adrian Aoun, CEO and founder of Forward, a tech-driven healthcare startup, told Karen Webster that it’s possible to build a completely new healthcare ecosystem, beginning with primary care — and the overhaul needs to leverage data and artificial intelligence (AI).

Read More

Technology Trends that will Revolutionize the Medical Industry in 2021

Article | March 15, 2021

The recent COVID-19 pandemic in 2020 has changed the way the healthcare industry has been processing. It has transformed the healthcare sector digitally. Healthcare providers have changed services with the latest healthcare technology trends in digital and virtual platforms. Every healthcare provider is updating services by adopting digital advancements in their practices to increase their capacity to engage the maximum number of patients. Still more advancements and updates are needed to address many challenges in the industry such as cybersecurity, effective payment model, telehealth, patient experience, invoicing and payment processing, and big data. Last year, wearable devices in the healthcare industry were quite popular with the patients. These devices have helped patients be aware of various healthcare metrics. Due to the introduction of the 5G internet, the wearable devices market is expected to have huge scope in 2021. Healthcare technology trends, such as the use of a digital dashboard scheduler or chatbots as a digital assistant, help hospitals and other healthcare organizations to better track appointments, contacts, demography, and make changes more efficiently as these are practical measures for modifying and monitoring patient activities. Telemedicine, using video conferencing, digital monitoring, etc. have also been very helpful in containing the spread of the pandemic. It has made healthcare accessible for everyone, especially in rural areas. For remote patient care systems, telehealth and teleradiology reporting are very important technological upgrades. Healthcare technology trends of 2020, including patient portals, mobile health applications, remote care via telehealth, and wearable devices, played a major role in tackling the global pandemic situation. Artificial intelligence (AI), Machine Learning (ML), and Robotic Process Automation (RPA) also played a vital part in handling the situation. All the above-mentioned are COVID-19 fueled healthcare technology trends in 2020, which are expected to continue in coming years too. Here is a detailed look into the healthcare technology trends, which are expected to address the new challenges and revolutionize the healthcare industry in 2021. Technology Trends that will Revolutionize the Medical Industry in 2021 The digital transformation of the healthcare industry has been fast-forwarded by COVID-19 in 2020. Recognizing the healthcare technology trends, many healthcare providers have readily shifted their operations to the latest trending technologies. Others are also looking forward to setting their operations according to the upcoming trends. It seems like almost all the healthcare providers genuinely wanted to transform their operating system to engage the maximum number of patients, due to the healthcare technology trends set after the hardest crisis in the healthcare industry virtual reality healthcare. So, before planning your healthcare strategy for 2021, don’t miss to include these healthcare technology trends of 2021 to achieve better healthcare outcomes and stand one step ahead of your competitors. Patient Engagement Technology One of the most competitive healthcare technology trends in 2021 will be patient engagement technology. There are countless technologies available in the market for patient engagement, evaluation, and campaigning. Due to high competition in the market, these tools are priced competitively. Many healthcare organizations have started empowering themselves by achieving consistency in patient engagement with the help of available tools in the market. This also helps them achieve increased ROI. The healthcare technology trends, including remote care via telehealth, patient portals, wearable devices, mobile health applications, and many more, empower patients and increase patient engagement. Hospitals and other healthcare organizations need to improve patient experience along with engagement. The entire road to patient satisfaction and experience can be changed with these healthcare technology trends in 2021. Telemedicine As telemedicine revolutionized the entire healthcare technology in 2020 by playing a vital role in containing the COVID-19 pandemic, it is expected to be one of the healthcare technology trends in 2021 too. Using the advancement, it possible for healthcare professionals to diagnose and treat any number of patients remotely through phone calls, mobile apps, emails, and even through video calls. Telemedicine can provide patients with better access to all healthcare services, drive up efficiency and revenue, and lower healthcare costs. Augmented Reality (AR) and Virtual Reality (VR) The arrival of both AR and VR solutions has made way to witness meaningful advancements in the healthcare industry and technology. Advancements that could only be dreamt of a decade back, have become realities and been implemented. These two healthcare technology trends offer some serious promise to the world of healthcare, including educating patients before a treatment procedure. AR offers one of the latest and most spontaneous options in the healthcare industry. AR allows doctors and surgeons to experience 3D effects on real-world scenes. This healthcare technology trend permits the professionals to stay grounded on actual procedures with access to all the data through various other emerging technologies. This makes doctors compare data, in the virtual world, to understand what the patient is experiencing and make a flawless diagnosis and suggest healthcare procedures. Chatbots It is either impossible or expensive for patients to get answers from specialists for their routine queries. But, chatbots make it easier and comfortable for healthcare service providers to answer questions of patients cost-effectively. Though chatbots are currently in the experimental phase to be used in healthcare solutions, they are most likely to have the necessary access to clinical scenarios by the beginning of 2021. It is expected to be one of the progressive healthcare technology trends in 2021. As a digital assistant, chatbots allow healthcare providers to keep a track of contacts and appointments and make changes, when necessary. Chatbots are going to revolutionize the clinical processes and business, providing practical as well as clear measures for modifying and monitoring patient activities. Big Data and 5G 5G is about to sweep the world in the coming months. With the extraordinary intensification in transmission bandwidth of 5G, users will construct a huge amount of data. With 5G, the Internet of Things (IoT) will be used largely to send and receive data. In the next three years, the global wearables market is expected to reach an annual turnover of US$52 billion. This can be attributed to the introduction of 5G wireless technology, one of the healthcare technology trends. Healthcare providers will have the access to a huge amount of accurate data when data from wearable devices and other initiatives are added together. This is going to change the way providers collect data and the way doctors and patients communicate. Thus, while you plan to upgrade your healthcare technology for 2021, don’t forget that you will be receiving a huge amount of data from patients, which can be attributed to one of the important healthcare technology trends of 2021, big data and 5G. Artificial Intelligence Artificial Intelligence (AI), one of the prominent healthcare technology trends of 2021, is developed to mimic human thought processes. GNS Healthcare AI system and IBM Watson are some of the most popular examples for the active use of AI in the healthcare process. This trend is going to rule healthcare processes and revolutionize medical care in 2021. To improve healthcare professionals’ and hospitals’ care delivery to patients, Google’s DeepMind has built mobile apps and AI. The AI healthcare market is expected to reach US$7988.8 million in 2022 from US$667.1 million in 2016. This healthcare technology trend is expected to take the healthcare industry to a new realm by increasing patient engagement and experience in 2021. Cloud Computing Cloud computing is one of the major healthcare technology trends in 2021 that is going to change the industry. Attributed to the recent development of various healthcare technology trends, the cloud computing market is expected to reach US$35 billion in 2022 from US$20.2 billion in 2017. This tremendous growth is attributed to the need of storing a high volume of data for healthcare organizations at a lower cost. In the healthcare domain, the main use of big data is in Electronic Health Record systems (EHR). It allows secure storage of various digital documentation such as demographics, medical history, diagnoses, and laboratory results. Cloud computing, an important healthcare technology trend, is expected to make the healthcare process smooth and flawless in 2021. The biggest trend of 2021 in the healthcare industry is the holistic technological transformation of healthcare firms. Whether AI, ML, RPA, telemedicine, big data, chatbots, or cloud computing, almost everything related to data management and monitoring will peak in 2021. These healthcare technology trends will rule healthcare in 2021. Moreover, targeted and personalized care for critical diseases is expected to be another trend in the coming years. Frequently Asked Questions What are the technology trends in healthcare? Trending healthcare technologies are AI, ML, RPA, cloud computing, big data, chatbots, telemedicine, etc. AI, the life-changing technology is going to completely transform the healthcare industry in the coming years starting from 2021. What are the most important trends in healthcare technology? Augmented and virtual reality, Artificial Intelligence, the Internet of Medical Things, Machine Learning, chatbots, cloud computing, telemedicine, etc. are the most important technology trends in the healthcare industry. What are the current technological trends in healthcare? Artificial Intelligence (AI) and Machine Learning (ML), Internet of Medical Things (IoMT), Augmented Reality (AR) and Virtual Reality (VR), Electronic Health Records (EHR), Blockchain and data security, health-tracking apps, therapeutic apps, and telehealth are the major current technological trends in the healthcare industry.

Read More

5 Emerging Technology Trends for Healthcare for 2021

Article | March 15, 2021

Health technologies range from devices, systems, and procedures to vaccines and medications that help deliver high-quality care, reduce costs for hospitals and patients, and streamline operations. It can be any software or IT tool that improves administrative productivity, eases workflow, and enhances the quality of life. New technology in healthcare includes supportive, educational, information, organizational, rehabilitative, therapeutic, preventive, and diagnostic solutions that improve patient access and healthcare provider capabilities. Virtual concierge, artificial intelligence, voice search, and virtual and augmented reality are promising emerging technologies for 2021.

Read More

Spotlight

Boston Scientific

At Boston Scientific, we work collaboratively to solve healthcare’s toughest problems by developing solutions that matter most to those suffering from debilitating and life threatening conditions and the healthcare professionals who provide their care. Across 100+ countries, we help providers deliver care more effectively by reducing costs, increasing efficiencies and expanding access to care in order to help more people in more places live longer, healthier lives. We go beyond our mission of transforming patient lives by investing in the future and the well-being of our employees and our planet.

Events