Digital Healthcare
Article | November 29, 2023
Introduction
Over the past couple of years, there has been a substantial rise in the burden of chronic conditions and treatment costs, along with the growing elderly population, which is transforming the healthcare sector at a rapid pace. As per a study, healthcare spending across the globe is anticipated to reach an unprecedented value to total US$ 18.3 trillion by 2030. In response to these trends, volume-based payment models are being replaced by outcome- or value-based models.
Predictive analytics helps health organizations to get in line with these new models and improve patient care and outcomes. From predicting critical conditions such as heart failure and septic shock to preventing readmissions, the recent advancements in big data analytics are boosting the adoption of new predictive analytics solutions that aid clinicians improve outcomes and cut costs.
Predictive analytics in healthcare is most helpful with clinical care, administrative tasks, and managing operations. More importantly, the technology is already making a difference in a wide range of healthcare settings, from small private doctor's offices and large academic hospitals to healthcare insurance companies.
How is Growing Healthcare Data Favoring the Penetration of Predictive Analytics?
The growing inclination toward digitalization in the healthcare industry has led to the creation of huge new data sets. These include radiology images, electronic medical record (EMR) systems, lab results, and health claims data. The amount of data is expected to reach new avenues with increasing genomics and cytogenesis research data in the near future.
New data is being generated and collected by the novel medical devices at the edge, such as monitors and patient wearables. In addition, outside the healthcare setting, patients are generating quasi-health data through the use of health monitoring applications, fitness trackers, and personal wearable devices.
By using data from these sources, health care providers can find new ways to use predictive modeling for health risks, predictive analytics for medical diagnosis, and prescriptive analytics for personalized medicine.
Predictive analytics has become a crucial component of any strategy for health analytics. Today, it's an essential tool for measuring, combining, and making sense of biometric, psychosocial, and behavioral data that wasn't available or was very hard to get a hold of until recently. Here are some of the applications of predictive analytics for healthcare
Identifying Patients at Risk
Clinical Predictions
Disease Progression and Comorbidities
Predicting Length of Stay
Speeding Treatment of Critical Conditions
Reducing Readmissions
The Future Story
With the growing prominence of innovative technologies across the healthcare industry, a number of health IT providers are focusing on developing their own analytics software and engines to assist healthcare spaces deliver optimal patient care.
For instance, in 2020, Eversana, a U.S.-based provider of innovative solutions to the life sciences industry, announced the introduction of its ACTICS predictive analytics solution, which enables clinical spaces to combine multiple data sources into a single comprehensive system.
Also, some U.S. companies are partnering with healthcare institutions to develop proprietary algorithms designed to enhance organizational performance, improve clinical care, and increase operational efficiency. Such developments are projected to increase the popularity of predictive analytics solutions in the healthcare sector in the coming years.
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Health Technology, Digital Healthcare
Article | September 7, 2023
The one clear consensus that has emerged from this doubt and anxiety-filled time is that our society will be forever changed by COVID-19. In the recent days, we have seen a general movement toward telecommuting and digital solutions to accommodate the drastic changes caused by this global pandemic. The healthcare industry, which is arguably impacted the most, is no exception to this trend. But while the movement to digital healthcare started well before the outbreak, it has been a slow journey, fraught with many regulations that have slowed its market penetration.
With the current system so overwhelmed, a transition from the face-to-face model of care to a digital model has become vitally necessary, forcing it to happen sooner rather than later. Places that have already embraced the digitalization of healthcare practices have demonstrated the benefits of updating the old-fashioned model. A digital approach to healthcare can have unlimited applications, from telemedicine to a digital system for tracking available hospital beds. All of these applications not only save time but also potentially peoples’ lives by eliminating unnecessary contact between infected and healthy patients as well as their caregivers.
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Healthtech Security
Article | August 31, 2023
Rural, community, and independent hospitals are constantly facing mounting challenges in the form of staff shortages, accessibility to patient care and a multitude of cost concerns. Getting even one of these areas under control can help hospitals drastically boost their outcomes.
Here are three areas of IT investment that hospitals must control to go beyond staying functional and create an excellent patient experience.
Telehealth for Staff Shortage
Healthcare currently face massive staff shortage with a projected gap of up to 48,000 primary care physicians and up to 77,100 specialty physicians till 2034.
The effects of this shortage could be lessened by using virtual care, which would allow hospitals to care for patients through remote staffing.
Digitalizing Patient Care with Asynchronous Telehealth
Async telehealth of patients sending photos and videos to fast-track diagnosis. Async telehealth makes it easier for doctors to connect with more patients. This shortens the time it takes to see specialists and get important care services.
Remote Patient Monitoring
According to a CDC report, 90% of all healthcare spending goes into treating chronic conditions. Considering that U.S. nonmetropolitan areas have a high number of patients diagnosed with chronic conditions, accessibility is one of the contributing factors.
Remote patient monitoring enhances patient care for people with chronic conditions. Wearable medical devices are already driving the move towards remote patient monitoring. Whether it’s through wearable weight scales, heart monitors, blood pressure bands, or pulse oximeters, clinicians can generate regular updates about a patient’s health readings and ensure a timely response in order to avert complications.
Conclusion
There is much to be achieved on the healthcare front when it comes to digitalizing care. The above technologies are enabling healthcare providers take delivery of medical care further than ever and ensure they generate more traction from their IT investments in these areas of medtech.
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Digital Healthcare, Medical Devices
Article | June 14, 2023
Explore latest hospital industry trends driving digital transformation, data analytics, and patient-centric care for improved outcomes and personalized experiences in a dynamic healthcare landscape.
Contents
1. Understanding Dynamic Hospital Industry Trends
2. Significance of Keeping Up with Hospital Industry Trends
3. Quick Glance at Latest Hospital Industry Trends
3.1 Cybersecurit
3.2 Virtualization and ML capabilities
3.3 Telehealth and Telemedicine
3.4 Robotics
3.5 Wearables
4. Future Scope
1. Understanding Dynamic Hospital Industry Trends
The hospital industry is undergoing dynamic changes driven by digital transformation, data analytics, and patient-centric care. Hospitals are adopting technologies like electronic health records (EHRs) and telemedicine while leveraging data analytics and artificial intelligence for better insights. Patient engagement and personalized healthcare experiences are prioritized. The shift towards value-based care and proactive population health management is evident. Collaboration, interoperability, and preventive care initiatives are also gaining importance. These emerging trends in healthcare technology reflect the industry’s commitment to improving patient outcomes in an evolving landscape.
2. Significance of Keeping Up with Hospital Industry Trends
Staying up-to-date with the latest trends in healthcare industry is of utmost importance for professionals and organizations. It enables them to deliver improved patient care by implementing cutting-edge technologies and treatment methodologies. Hospitals can streamline processes, reduce costs, and allocate resources effectively by adopting industry trends focused on operational efficiency. Keeping pace with industry trends also provides a competitive advantage, helping hospitals attract and retain patients, maintain their reputation as innovative institutions, and outperform competitors. Furthermore, staying informed about evolving regulations and compliance standards ensures hospitals remain compliant, avoiding penalties and legal issues. Industry trends also reflect the changing demographics of patient populations, allowing hospitals to adapt their services and offerings accordingly. This knowledge aids in strategic decision-making, enabling administrators to align their strategies with the evolving healthcare landscape. Additionally, staying updated on industry trends facilitates collaboration and partnerships, promoting innovation and improved healthcare delivery.
3. Glance at Latest Hospital Industry Trends
The hospital industry is experiencing a wave of the latest trends reshaping the healthcare delivery landscape. From technological advancements to shifting patient needs and evolving care models, these trends drive significant changes in how hospitals operate and provide care.
3.1 Cybersecurity
Taking the lead in hospital industry trends is cybersecurity, which plays a vital role in safeguarding the industry against cyber threats and protecting patient information, sensitive data, and critical infrastructure. By implementing a robust hospital cybersecurity policy, patient data confidentiality, integrity, and availability can be ensured, along with mitigating the financial and reputational damages that can arise from cyberattacks. Furthermore, cybersecurity measures enable the continuity of healthcare services and foster patient trust. Prioritizing cybersecurity helps hospitals maintain compliance with data protection laws like HIPAA and strengthen relationships with patients and other stakeholders.
3.2 Virtualization and ML Capabilities
Next in line with hospital industry trends is the adoption of virtualization and machine learning (ML) capabilities that are revolutionizing healthcare operations and patient care. Virtualization allows hospitals to optimize infrastructure, reduce costs, and enhance resource utilization by creating virtual instances of hardware and software. Concurrently, ML algorithms analyze vast amounts of healthcare data, such as electronic health records and medical images, enabling accurate diagnoses, personalized treatments, and predictive insights. The integration of virtualization and ML facilitates remote healthcare services, ensures data security and privacy, and drives operational efficiency, ultimately leading to improved patient outcomes and streamlined healthcare delivery.
3.3 Telehealth and Telemedicine
The rapid adoption of telehealth and telemedicine, which will transform healthcare delivery, is on the horizon for the hospital industry. These technologies enable convenient access to healthcare services, especially for individuals in remote areas, reducing travel time and costs. Telehealth and telemedicine improve healthcare efficiency by reducing wait times, allowing timely medical advice, prescription refills, and follow-up care. They also facilitate collaboration among healthcare providers and specialists, ensuring access to specialized care. In emergencies, telehealth and telemedicine in the hospital industry enable real-time triage and remote monitoring. Despite challenges related to regulatory compliance and data security, telehealth and telemedicine have transformed healthcare delivery, offering convenience, efficiency, and expanded access to care.
3.4 Robotics
The integration of hospital robotics is reshaping the industry, revolutionizing surgical procedures by enabling exceptional precision and significantly reducing recovery times. Surgical robots assist in complex surgeries, improving accuracy and patient outcomes. Additionally, robots streamline tasks like medication dispensing and inventory management, reducing errors and freeing up healthcare professionals. Rehabilitation robots aid patients in regaining mobility, while robotic telepresence enables remote consultations and monitoring. Despite challenges such as implementation costs and regulatory considerations, robotics continues to transform healthcare delivery, enhancing patient care and operational efficiency.
3.5 Wearables
The widespread adoption of wearables, emerging prominently in the hospital industry, redefines patient care and monitoring practices. Wearable devices, such as smartwatches, fitness trackers, and remote patient monitoring devices, offer real-time health data and enable continuous monitoring of vital signs, activity levels, and sleep patterns. These devices provide valuable insights into a patient's health and allow for early detection of potential health issues. Wearables promote patient engagement and empowerment by encouraging individuals to manage their health actively. Healthcare professionals can remotely monitor patients' health status, track medication adherence, and intervene promptly if abnormalities are detected. Additionally, wearables offer opportunities for remote patient monitoring, telemedicine consultations, and personalized health interventions.
4. Future Scope
The potential of hospital industry trends in the coming years also encompasses genomics and personalized medicine advancements. With an increasing understanding of genetic factors in health and disease, hospitals can offer tailored treatments based on an individual's unique genetic makeup, leading to a revolution in disease prevention, diagnosis, and treatment. Furthermore, integrating blockchain technology in healthcare is expected to enhance data security, interoperability, and patient privacy, enabling seamless sharing of medical records across healthcare providers. Overall, the horizon of the hospital industry holds immense promise for innovative technologies, data-driven insights, and patient-centric care models, all contributing to the development of a more efficient, accessible, and personalized healthcare ecosystem.
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