Health Technology, Digital Healthcare
Article | September 8, 2023
Do you have a difficult time explaining your mental health issues to your family and friends?
If so, here are six suggestions on how to discuss your mental health issues with your friends and relatives.
1. Talk to a counselor: The most important thing that you need to do is to talk to a counselor about your mental health problems. Seeking professional help will go a long way in overcoming your current issues. In addition, a counselor will be able to give you additional advice on how to deal with your friends and family members.
2. Don’t argue with others: It is important that you do not get into arguments with those who are giving you a hard time. Your number one priority is getting your life back on track. Your health is more important than what other people may think.
3. Watch who you hang out with: It is important to surround yourself with positive people. Try to keep your distance from those people who are giving you a difficult time. Remember that your goal is to remain positive and hopeful. Do not let the negative people in your life bring you down.
4. You are not alone: It can be very frustrating to deal with your mental health issues when your friends and relatives are on your case. Remember, you are not alone. There are millions of people around the world who struggle with their fears, anxieties, and depression. The key is to find those people who can relate to you.
5. Stand your ground: It is important to stand your ground when dealing with family members and friends who are giving you a hard time. Explain your situation and your feelings to the people in your life, however don’t let them hassle you. Your number one priority is to get better and not to please everyone that you know.
6. Join a support group: There are many mental health support groups in your area that can help you. Many hospitals, churches, and counselors in your area will be able to provide you with a list of groups. These mental health organizations will be supportive of your situation and they can give you additional advice regarding your problems.
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Health Technology, Digital Healthcare
Article | August 21, 2023
Introduction
Top Upcoming Healthcare Supply Chain Trends to Know About
Immediate Access to Medical Supplies
Emphasis on Visibility and Tracking
Investment in Technologies
Artificial Intelligence
Cloud Computing
Data Analytics
Healthcare Supply Chain Management Solutions: Features and Significance
Why Is Supply Chain Management Software Gaining Prominence in Healthcare?
Closing Thoughts
Introduction
With the ever-evolving and changing nature of the healthcare industry, organizations are discovering new methods to eliminate waste, reduce costs, and prioritize patient concerns.
Despite the fact that the COVID-19 pandemic has shown the vulnerabilities of healthcare supply chains and caused shortages of personal protective equipment (PPE) and other essential medical supplies, it has served as a catalyst for innovation and digital transformation in healthcare supply chain management solutions.
Healthcare and medical organizations have learned the hard way to let go of the traditional ways of thinking, such as a mindset that prioritizes just-in-time supply chains and logistics optimization over everything else.
Tight, fragile supply networks and lousy inventory management have caused severe shortages of pharmaceutical and medical supplies in the past. However, with the emergence of innovative technologies and trends, now is the time to adopt a new mindset that emphasizes supply chain resilience, flexibility, and agility, making supply chains stronger and adaptable. This will enable healthcare spaces to handle unexpected spikes in demand and survive unpredictable disruptions brought on by pandemics, natural disasters, or cyberattacks in the future.
Top Upcoming Healthcare Supply Chain Trends to Know About
In recent years, healthcare providers have been concentrating on supply chain management solutions not only to increase the effectiveness of supply chain networks but also to gain more visibility into the entire supply chain.
With the goal of streamlining the ordering process, enhancing demand planning & inventory management, and informing purchasing contract decisions, healthcare providers have started to understand the potential of advanced healthcare supply chain solutions. Since then, these organizations have recognized the value of an efficient and dependable supply chain as a critical competitive differentiator.
A substantial rise in medical and healthcare spending is being witnessed across the globe due to the rapidly increasing number of various diseases and conditions, such as chronic ailments, infectious diseases, and genetic disorders. According to a study, the national health expenditure in the U.S. reached US$ 4.1 trillion in 2020, including the spending of US$ 829 billion on Medicare and US$ 671 billion on medical aid.
Hence, healthcare organizations, manufacturers of medical devices, and other entities participating in the medical supply chain are investing in innovative supply chain and logistic solutions to provide optimal and timely treatments to patients.
Innovation is not only crucial for lowering operating expenses and simplifying business processes, but it is also necessary for providing superior care to patients and enhancing clinical outcomes. Let's see some of the top healthcare supply chain trends that are revolutionizing the healthcare sector.
Immediate Access to Medical Supplies
Medical equipment and component shortages are not new challenges for the healthcare industry. Hospitals and other medical establishments have faced continual disruptions in the supply chain over the last decade, starting from personal protective equipment and medical device shortages to improper management of medical inventory. This was especially witnessed in the past two years, during the COVID-19 pandemic.
Healthcare producers previously adopted a strategy to either pay higher premiums for medical equipment or stockpile them on their balance sheets. However, the issue with this strategy was that during the acute and unprecedented shortage, fewer devices and parts were left to acquire and keep in inventory, which has compelled hospitals to adopt a more cautious supply chain strategy.
Medical establishments need a more diverse pool of suppliers and cannot only rely on just-in-time inventory ordering. Hence, a swift rise in inclination toward adopting sophisticated supply chain solutions is being witnessed across the industry to monitor certain suppliers' run rates. This enables modern healthcare organizations to create more resilient and robust hospital supply chains and provide immediate access to medical inventory.
Emphasis on Visibility and Tracking
One of the most prevalent healthcare supply chain trends witnessed across the industry is the growing focus on visibility and tracking. Obtaining medical supplies, equipment, drugs and others safely, timely, and accurately from the factory floor to patients is the responsibility of the healthcare supply chain. As the industry shifts to value-based care models, the healthcare supply chain is experiencing enormous pressure to increase visibility, decline costs, and improve outcomes.
With the advent of online shopping and the introduction of novel medical e-commerce platforms, manufacturers and suppliers of healthcare products are focusing on real-time tracking during transit and logistics operations. As a result, they are increasingly adopting advanced healthcare supply chain management software to enhance visibility, stream operations, and decrease delivery time.
Investment in Technologies
The efficient management of the healthcare supply chain is paramount for proper patient care and inventory control. The implementation of digital healthcare technology is an essential step toward the achievement of a higher level of efficiency in supply chain management.
Digital healthcare logistics and supply chain solutions have the potential to generate long-term value for healthcare providers, which is one of the main aspects driving the transformation away from the conventional healthcare supply chain. It is improving patients' access to care while making it more efficient, cost-effective, and secure. In addition to this, the integration of advanced technologies is assisting hospitals and healthcare providers in reducing operational costs and identifying appropriate growth opportunities. The following are the technologies healthcare organizations are investing in to strengthen their supply chain management
Artificial Intelligence
The healthcare supply chain trend that is paving the way in the industry is artificial intelligence (AI). It is the future of the healthcare supply chain. The integration of the technology assists in improving logistics efficiencies via quicker data processing, continuous process improvement, and accurate demand-supply forecasting.
By connecting historical data with external patterns that affect production, AI presents a chance to greatly increase the speed and precision of healthcare logistics and supply chain activities. In addition, it enables medical equipment manufacturers and suppliers to constantly record crucial operational data and preserve institutional expertise for future use.
Cloud Computing
Cloud computing technologies have played a significant role in transforming the healthcare supply chain management that is used today. It reduces expenses, shortens logistics operations, and increases data security by centralizing data and providing access to that data to numerous associated entities.
With technological advancements, cloud computing is anticipated to gain huge popularity in creating a resilient supply chain with a well-knitted network of healthcare providers, manufacturers, and suppliers. And also provides next-generation features, such as transport route optimization and automatic inventory management.
Data Analytics
Data analytics provides a broader range of in-depth information that can be used to make operational processes more effective, inventory management more strategic, and decisions more accurate. It also assists in transforming the healthcare supply chain by providing access to cutting-edge methods like data mining, predictive forecasting, and predictive analytics to foresee future events with precision, assisting healthcare providers in forecasting further demand and supply interruptions.
In addition to the increasing need for declining costs and transit time, drug manufacturers and healthcare aid suppliers are investing in advanced data analytics to assist them in visualizing the whole supply chain, including its pain points, inefficiencies, and strengths.
Healthcare Supply Chain Management Solutions: Features and Significance
The healthcare industry as a whole is thriving, and this growth is reflected in the more sophisticated and digital nature of healthcare supply chain management software. The solution helps medical facilities see the big picture by coordinating and integrating procedures that manage and control the flow of money, data, and items as a product or service, all the way from the point of production to healthcare spaces, allowing for more efficient care.
The primary goals of these supply chain solutions, such as healthcare logistics software, are to improve visibility and efficiency throughout the distribution network. In recent years, these goals have expanded to include the strategic objective of improving supply chain agility and resilience— to cope with times of uncertainty, shortages, and volatility in demand and supply conditions.
Getting supply chain management right in healthcare means that participating players will be able to effectively identify and resolve bottlenecks, possible interruptions, and other issues that arise anywhere along the end-to-end supply chain. As one of the features, these supply chain solutions have the potential to improve patient care and safety while reducing waste and wasteful expenses. Let's see a few more features of healthcare supply chain management software
Procurement Management
Logistics Management
Inventory Management
Order Management
Warehouse Management
Supplier Relationship Management
Why Is Supply Chain Management Software Gaining Prominence in Healthcare?
Due to increasing instances of medication and healthcare aid shortages, a strong need for modernizing the healthcare supply chain is being experienced by numerous hospitals, drug manufacturers, and suppliers. In addition, the growing use of medical e-commerce is further increasing the complexities in the inventory and logistics operations, making it difficult for the players mentioned above to provide timely delivery, reduce wastage, and ultimately save patients.
To counter these challenges, medical establishments are emphasizing adopting more advanced and resilient supply chain management solutions, which assist them in streamlining and automating routine manual processes such as logistics operations, planning, forecasting, and others. The following are more reasons to encourage healthcare establishments to adopt resilient supply chain management software
Logistics and Shipping Optimization
Reduce Cost Effects
Enhance Quality Control
Increase Flexibility
Better Collaboration with Suppliers
Reduce Inventory and Overhead Costs
Increase Output
Enhance Transparency
Decrease Delivery Time
Closing Thoughts
In today’s constantly evolving healthcare sector, medication manufacturers and hospitals are looking to adopt innovative solutions, such as healthcare logistics software, to eliminate waste, reduce costs, and improve patient care.
The growing integration of AI, predictive analysis, blockchain, and other technologies is playing a major role in modernizing the healthcare supply chain and streamlining operations by automating and improving decision-making abilities. As the healthcare supply chain trends discussed above keep on creating new roads in the industry, supply chain management solutions, such as healthcare logistics software, are anticipated to become a necessity in the future.
Thus, ahead-of-the-curve healthcare providers are seizing this instance as an opportunity to invest in cutting-edge technologies and shift towards using digital solutions to make their supply chains more robust and improve the flexibility of their logistics operations.
FAQ
What is Healthcare Supply Chain Management Software?
Ans: A healthcare supply chain management software assists medication manufacturers and hospitals in sourcing, tracking, quality control, and logistics by automating operations, enabling them to manage costs, time, and inventory by planning and forecasting trends.
What Are the Types of Supply Chain Management Software Used in Healthcare?
Ans: The most common types of supply chain management software used across the healthcare sector are
Logistics
Sourcing and Procurement
Inventory Management
Warehouse
Order Processing
Shipping
What Are the Key Performance Indicators of Supply Chain Management Software in the Healthcare Industry?
Ans: Key performance indicators of supply chain management software in healthcare are
Reduction in Cost
Enhancement in Customer Service
Time to Customer
Forecasting Accuracy
Flow of Logistics Process
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Digital Healthcare
Article | November 29, 2023
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.
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Future of Healthcare
Article | October 25, 2021
In today's uber-fast-paced world, the human race, in general, has gotten highly comfortable running on all cylinders in the rat race of life, especially people in India. Our country is a land where opportunities are aplenty, and competition is ever-present, which makes every day life so tedious and constant that taking a breather is something that people can rarely afford. This has led to increasing cases of anxiety, depression, high blood pressure and insomnia. These cases rose to such high numbers that it gave way to one of India’s most prominent industry sectors: The Wellness Industry.
Though the industry captured global attention between 2015 and 2017, a study conducted by McKinsey & Company found that the wellness industry is currently valued at $1.5 trillion globally. This sudden boom can be attributed to the realisation that it is more important to remain healthy than getting healthy. Furthermore, the report, produced after analysing 7500 consumers in six countries (including India), has offered keen insights into consumer behaviour. When it comes to wellness consumers, their trends can be grouped into six categories:
Health: People are now investing in many remote medical devices that can constantly monitor their state of well-being. With the increase in popularity in digital wearables, telemedicine, and remote patient monitoring services, this trend is bound to increase.
Fitness: People are exercising more. Whether it’s jogging, going to the gym, investing in a pedometer, FitBit, etc., there has been a steady increase in people exercising more.
Nutrition: Dieting has always been a significant part of being healthy. An increase in dietary food, supplements, nutrition coaches can be observed in recent years.
Aesthetics: With a major chunk of India’s youth population getting invested in their social media, notably the pictures that they post, aesthetic well-being has seen a sharp increase. This includes investments in specific Athleisure clothing apparel (Nike, Addidas, Puma), skincare products (collagen supplements, face masks), and plastic surgery.
Sleep: Burning the midnight oil is counterproductive. There has been a steady increase in consumers willing to invest in sleep medications, specialised mobile applications that track their sleep and the state of their sleep, ASMR generating devices, White noise devices, and other products that can enable a consumer to maintain a healthy sleep cycle.
Mindfulness: Introspection, understanding the body and its processes to the molecular level, and figuring out ways to implement clarity of thought and methods for improving focus have been huge draws for the wellness industry. Furthermore, with central government’s schemes like AYUSH and the introduction of International Day of Yoga by the United Nations, this particular trend has seen enormous growth.
Impact of these trends on the future of Indian wellness industry
Organic Products: According to APEDA, India has become one of the largest producers of organic products. A growing number are actively investing monthly in organically grown produce, meat that is organically processed, oil that is wood-pressed or cold-pressed, cosmetics made from organic materials, and clothes made from pure cotton instead of manufactured materials. People becoming more conscious of what they put in their bodies has led to a steady increase in organic shops across India.
Exercise, Dieting & Nutritional Supplements: From using simple Calcium supplements and energy drinks to adhering to a strict diet regimen, today’s consumers are genuinely worried about falling sick. This has led to an increase in purchasing supplements. Another trend can be observed where an increasing number of consumers have started buying vitamin, Zinc, and iron tablets, to shore up immunity. Furthermore, Indians have begun consuming gluten-free cereal, cold-pressed juices, Kale products, Avocados, and other food products recommended to be healthier alternatives. Indians have also become BMI-conscious, and an increasing number of them have started to invest in gyms, yoga/cardio classes, exercise-wear, sports wearables, and other products that can enable a person to work out more effectively.
Constant Increasing Demand for Oxygen: Even before the second wave of the COVID-19 pandemic, getting access to 99% breathable oxygen has pure oxygen was a necessity considering the rising concerns of pollution in Indian cities. As per the ‘World Air Quality Report, 2020’ prepared by Swiss organisation, IQAir, 22 of the world’s 30 most polluted cities are in India, with Delhi being ranked as the most polluted capital city globally.
Moreover, people who indulge in extreme physical workouts exercise, or suffer from high-altitude sickness, need oxygen handy to maintain their wellbeing. In India, prominent wellness companies like UCS Wellness Pvt Ltd have made significant strides to ensure that every individual has access to oxygen through their innovative specially outfitted 18-litre aluminium-bottled oxygen cans of 18 litres under their brand gO2therapy. With the pollution rate showing no signs of slowing down, and the steady increase in demand for oxygen, it would be no surprise to find every household medical kit fitted with a portable oxygen cylinder.
Transitioning to Digital Platforms: With the increase in popularity of Telemedicine and Remote-patient monitoring, healthcare and the wellness industry are gaining an aggressive online presence. There are many online exercises/online videos, fitness apps, meditation apps, motivational apps, power coaches, and so much more. Indians find it easier to use these online tools combined with a digital wearable to keep their well-being in the best of conditions.
Investing in Social Media Influencers: With the increase in online dependence, the voice of social media influencers is soon to be gospel when it comes to maintaining a fit body and healthy mind. Much like how mainstream celebrities endorse various products, the wellness industry has seen great rewards in deploying online influencers to support their products. Typical examples can include a famous workout specialist advertises particular apparel, gadget, energy drink, or brand of Whey Protein distributors as part of their video.
Alternatives to Allopathy: In the Indian market, the wellness industry has seen a shift in paradigm where an increasing number of consumers opt for Siddha, or Ayurveda substitutes, instead of conventional medicine. This is seen more in the age group of 40+. This particular age group has patients with a long history of high BP, high cholesterol, and other ailments that require continuous monitoring and medication. They feel that the healthier choice is in traditional medicine or treatments like Panchakarma, Ayurveda, or Siddha. Conventional medication provides them with little to no side effects, which is the primary reason for its increasing popularity.
India is expected to become a wellness hub in the global community following a 12% growth per annum. The Make in India initiative is expected to bring in more investments and opportunities in this sector. The Ministry of AYUSH, with a separate department for Yoga, has been exempted from service tax. A budget of around ?3,400 crores has also been earmarked to be spent over the next five years to help set up and strengthen Ayush Wellness Centers under the National Ayush Mission. This has sparked an increase in startups and businesses focusing on the wellness sector.
Meanwhile, the global pandemic is also giving rise to a new consumer behaviour called wellness rebound where they are becoming more health-conscious and striving towards regaining their health soon after recovering from an illness. Considering the aftermath of the pandemic, the aggressive implementation of technology, and the constant consumer market in India, it can be inferred that the wellness industry will evolve and expand further with little to no backslide.
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