Article | March 27, 2020
The key concerns of healthcare management today are data processing and data security. Patients don’t have full ownership of their medical records, and are unable to control how their information is updated. There isn’t enough transparency to the process. There are also significant concerns related to data security, especially in the areas of personalized medicine and the rise of wearables. Patients and medical staff need secure and straightforward ways to record data, send it over networks, and receive advice without security concerns. Blockchain technology can help solve these problems. Introduced in 2008 as a means of recording cryptocurrency transactions, blockchain is a distributed cloud-based ledger that offers the ability to verify the origin of data and prevent breaches. When a user wants to make a transaction, they issue a request signed with their private key. The network verifies its authenticity by using a public key. If the verification is successful, the transaction is broadcast to the network and included in a block. The network of “miners” solves the block to get a reward, and once the block is revealed, it is added to the blockchain, making it permanent. It’s impossible to introduce new information in a block unnoticed, because that would change the structure of the entire chain. This feature makes the system safe and transparent.
Article | March 26, 2021
Health tech marketers tend to have a real bias problem. Everyone wants to believe that they have the best product available in the market, and are quite vocal about it on social platforms. But, are those the things your buyers want to know about your products?
The biggest mistake you can ever make in health tech marketing is leading it with a technology bias. It will immediately create a distance between your audience and you. If you are working in technology, you can easily assume that everyone knows what you are talking about all the time. You breathe and live your industry. And as the marketer of your company's products, it's your responsibility to go to prospects with your tech company’s message. In your personal life, too, you may talk to your friends and families about your work and realize they have no interest in what you say as they have no idea what you are talking about. That is because they are not immersed in your company or industry.
The same can happen in your health tech marketing process with your prospects and customers. Instead of focusing on their problems, if you lead with your technology solution and features of your products and company, you will lose them. It is vital to step back and see the bias you have in your company’s marketing initiatives.
How Technology Bias Affects Health Tech Marketing
The effects of technology bias in health tech marketing are strongest when the health tech marketer focuses more on technology, product, or company than the buyer's pain points. Customers do not want to know everything about your product. They probably want to know how your product can solve their issues. When approaching buyers with your product, this health tech marketing technology bias can have many adverse effects on the buying process.
Technology bias in health tech marketing will lead to failure to get the customers' trust. They feel you are just trying to sell your product by explaining your product's features rather than solving the customer's issues. Technology bias in health tech marketing also will result in a negative effect on brand performance. As a health tech marketer, you are wrong in assuming you can sell your products by boosting the company or products of the company. It will only result in losing the customer's trust if you are not considering the buyers' problems. If you are going on with the practice, it will eventually affect your brand's performance as buyers view you as not genuine.
This unfair practice of technology bias in health tech marketing will make you realize that you are losing the customers, even the existing ones. No buyer wants to hear more about the features or the technologies used in your products. They are focused on their issues and want to know how your product can solve those issues. Thus, as a health tech marketer, you may have to focus more on the customer pain points when approaching buyers; this will help you convert potential customers into clients.
How to Get Rid of Technology Bias and Improve Health Tech Sales
FPX Digital Transformation Study 2019 says that B2B companies have shifted their focus to customer experience from internal efficiency. Most of the respondents agree that they spend much of their digital transformation funds improving the customer experience.
An important way to implement a buyer-centric or customer-centric marketing approach is to remove bias about your product from your health tech marketing efforts. Mainly, this has to be removed from the messages you send out in the early stages of the buyer journey. However, making it practical is difficult as it is ingrained in how you write, speak, and present your company to external and internal audiences.
Here are some tips to get out of technology bias in health tech marketing and get closer to your customers.
Listen to Customers Clearly
Successful marketers excel not only in communicating but also in listening. It is impossible to create a message about your health tech product if you do not know what problem it can really solve. It will help if you take the time to know your prospects and customers. Do not let your mind wander thinking about which benefits and features you have to push in your health tech marketing. Remain fully present in video, phone, and in-person meetings. That will help you find they have different problems, and you can solve them differently.
When you give importance to listening, you will not waste time and effort solving a problem that you think exists. Instead, you will start developing buyer-centric health tech marketing messages that align with your business.
Don’t Assume Anything
You hate being in a room where people are talking about a subject you know nothing about. Your health tech buyers may have the same experience if you assume your customers know what you do and how they fit into your space.
That’s why it’s essential not to take a “features-first” approach in your marketing interactions. You understand your product's ins and outs, but your prospects don’t and are likely not ready for that. As an effective health tech marketing technique, before you assume anything, give them the complete picture of who you are.
Simplify the Message
A product-driven language full of jargon will make your brand unapproachable for your audience. You can apply the old phrase here, “keep it simple stupid.” You have to position your technology as sophisticated and robust, not convoluted and tricky, through an effective health tech marketing process.
Your health tech marketing content should make sense to people both outside and inside your industry and company. Visitors of your website should not go for additional research to understand what you do precisely. It should be clear from your content. Thus, simplifying your content is essential.
Make Your Customer the Hero
The hero of your health tech marketing story is not you but your customer. After all, your customers in your industry work hard to deliver better service and results to their customers.
Your messages should position you as a mentor for your customers that provides technology support in the job of your customers to drive success. The “customer hero” approach should have a fundamental change in how you speak to your customers. The approach is not fully taken hold in the B2B health tech marketing space so far.
Share Real World Stories
One of the most practical ways to eliminate technology bias from your health tech marketing is to talk more about your customers and less about your products and company. You have to show you have the purpose of bringing in a fundamental change in your industry that enhances the day-to-day business lives of people and not just sell great technology.
Testimonials and customer case studies help a lot in shaping your brand story. Using them, narratives can be created about your customers' journey after and before using your technology. Rather than detailing the benefits and features of technology, narratives highlight the platform's tangible business value for real people in businesses.
Technology brings a change in companies, and most people do not accept changes so quickly. It is because the change pushes people to do things differently by moving beyond their comfort zones.
As part of health tech marketing, your job is not to make this change terrifying, but compelling for your buyers. This will happen only when you take your technology out of your head and start focusing on your clients' requirements, problems they face, and what exactly they need from you. It will then surely make you put your product and technology bias aside. And you will be capable of effectively executing your health tech marketing initiatives.
Frequently Asked Questions
How does health tech marketing become effective?
Effective health tech marketing is essential to reach out to potential clients and grab their attention. Health tech marketing becomes effective only when the marketer focuses on the requirements of the clients rather than on the features of the product or company.
What is technology bias in marketing?
Technology bias in marketing is focusing much on your product or technology when you market a technology product to your prospects. Getting rid of this bias will make you attract more clients and successful in your marketing.
How to get rid of technology bias in health tech marketing?
Technology bias in your health tech marketing makes the customers put a distance from you. The best way to get rid of it is to make the customer the hero of your marketing messages by focusing on their issues.
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"name": "What is technology bias in marketing?",
"text": "Technology bias in marketing is focusing much on your product or technology when you market a technology product to your prospects. Getting rid of this bias will make you attract more clients and successful in your marketing."
"name": "How to get rid of technology bias in health tech marketing?",
"text": "Technology bias in your health tech marketing makes the customers put a distance from you. The best way to get rid of it is to make the customer the hero of your marketing messages by focusing on their issues."
Article | December 9, 2020
The pandemic-fueled technology adoption has enabled the healthcare industry to address the challenges, including cybersecurity, telehealth, invoicing and payment processing, patient experience, effective payment model, and big data. The responses to the unusual COVID-19 pandemic has sped up the adoption of new digital technologies in the industry. It has also fueled advancements in health technology. From the start of 2020, these advancements transformed the healthcare industry into a next-gen one by accelerating digitization of their internal and external operations by two to three years.
This surprising impact of technology in the healthcare industry has brought out unexpected competition between the key players in the B2B healthcare market. Whatever the field, adapting yourself to modern changes is the best strategy to thrive. Get yourself updated according to the changes or get yourself outdated is the new norm in the healthcare industry.
The following trends and advancements in technology in the healthcare industry due to the pandemic in 2020 show that healthcare providers are always searching for new ways to improve their productivity, performance, and efficiency. These were the need of the hour during the pandemic, for them to surge ahead of their competitors.
• Artificial Intelligence (AI) in healthcare
• The Internet of Medical Things (IoMT)
• Supply chain management technology
• Privacy issues
• AR/VR/MR in Healthcare
• Digital marketing trends in healthcare
This article looks into the major innovations, advancements, and trends brought out by the global pandemic in 2020 in the healthcare industry.
One of the biggest challenges faced by the healthcare industry in the US today is its digital capacity to effectively engage consumers and make them stay healthy. This can include helping people to prevent getting infected by various diseases such as COVID-19 and effectively managing various other chronic conditions. This is where technology in the healthcare industry has a major role to play.
Due to the latest advancements in technology, the healthcare industry was already evolving but the COVID-19 pandemic accelerated this transformation dramatically. McKinsey reports that US$250 billion was spent on technology in the US healthcare industry to shift the industry into a virtual care model in the wake of the pandemic. Also, a study by FAIR Health, a non-profit group, says the increase in telehealth claims in the US is 4,000% in 2020.
Here’s a detailed look into the above-mentioned advancements, innovations or trends brought out by the pandemic in the industry.
Had the world ever thought that it would be possible one day for doctors to remotely examine the health of patients via a smartphone or a computer? Telemedicine, a new trend in technology in the healthcare industry, addresses many challenges in the industry. Improved technology in the industry has made telemedicine easier, even for people, who are not computer savvy. Telehealth services are now provided through different telemedicine apps.
In the light of the pandemic, rather than in-person visits, 43.5% of primary medical visits were done using telehealth methods in April 2020 in the US. The major benefit of telemedicine is that it reduces contact between healthcare workers, patients, and other patients. This reduces the chances of the spread of infectious diseases.
Reports say that 71% of Americans considered telemedicine useful at the beginning of the pandemic. This trend is expected to continue in the coming years too. With the pandemic, telemedicine saw an immediate boom compared to previous years. This boom in telehealth is projected to break US$185.6 billion by 2026.
Artificial Intelligence (AI) in healthcare
Artificial intelligence, a new trend and advancement in technology in the healthcare industry, had a critical role in fighting the pandemic. AI played a major role in areas such as pandemic detection, vaccine development, facial recognition with masks, thermal screening, and analyzing CT scans. AI is becoming the new operating technology in the healthcare industry.
Major AI healthcare applications
Healthcare providers will benefit a lot from AI-driven tools as AI technology in the healthcare industry has become a transformational force. Machine learning algorithms and software in AI will revolutionize the use of technology in the healthcare industry and the science of healthcare in the coming years too. AI will unify machines and humans through the brain. Some of the AI technologies in the healthcare industry, which are very relevant, are machine learning, natural language processing (NLP), rule-based expert systems, physical robots, diagnostic and treatment, patient engagement and adherence, and administrative applications.
Benefits of AI in healthcare and statistics
AI addresses many challenges that present technology in the healthcare industry cannot tackle. Better data-driven decisions, increased disease diagnosis efficiency, reduced treatment time, easy integration of information, reduced costs, increased patient satisfaction, fewer errors, and easier payment options are some of the benefits AI-assisted technology in the healthcare industry can provide.
According to an analysis by Accenture, by 2026, clinical AI health applications are expected to create approximately US$150 billion for the US healthcare economy as annual savings. Also, the US AI health market is expected to reach around US$6.6 billion by 2021.
The Internet of Medical Things (IoMT)
Nowadays, medical interactions involve some sort of equipment or device; it can be a glucose monitor, blood pressure monitor, or even an MRI scanner. It may not be a surprise now that, according to a 2020 Deloitte report, the available number of medical technologies are around 50,000. The internet-connected devices, which are known as IoMT tools, are transforming the healthcare and technology in the healthcare industry.
What Is IoMT?
The connected infrastructure of software applications, medical devices, and health systems and services are the IoMT. This has emerged by combining IoT development with telehealth technologies and telemedicine.
Potential of IoMT in healthcare and statistics
Lower costs for care, fewer mistakes, and more accurate diagnosis are the potential capabilities of IoMT. IoMT paired with various smartphone applications allows patients to send information regarding their health to doctors and get treated for diseases. This type of technology-driven healthcare not only improves patient experiences but also reduces the cost. IoMT, the new trend in technology in the healthcare industry, also has a positive effect on drug management.
According to Goldman Sachs, IoMT will save US$300 billion annually in the healthcare industry. AllTheResearch expects that the global IoMT market value will reach US$254.2 billion from US$44.5 billion in 2018.
Supply chain management technology in the healthcare industry
Utilizing advanced supply chain management technology in the healthcare industry enables healthcare providers to reach the right patients with the right product at the right time. Digitalized supply chain management also makes healthcare organizations improve provider-patient connectedness, data flow and analytics, regulatory compliance, and asset tracking.
A range of challenges faced by healthcare providers prompts you to digitalize supply chain networks, using the latest technologies in the healthcare industry. Advanced supply chain management technology will help you optimize costs, reduce unnecessary variation due to error and variability, enhance patient care, engagement, and delivery, and address new value-creation priorities.
According to reports from market researchers, global healthcare supply chain management technology is expected to reach US$3.3 billion in 2025 from US$2.2 billion in 2020.
Privacy is a serious concern in technology in the healthcare industry, especially because of HIPAA compliance in 2020. Although data and information of patients can be efficiently stored and retrieved through cloud computing, complying with the strict electronic Protected Health Information (ePHI) is difficult.
While electronic health records and sensor networks, and advancements in other technologies in the healthcare industry will surely improve the quality of healthcare by reducing medical errors and costs, associated security and privacy are challenges to be addressed. Journal of the American Medical Informatics Association estimated that stolen or lost PHI may cost the US healthcare industry approximately US$7 billion annually.
To solve these issues, hospitals, and other healthcare providers have to stop using outdated technology and adopt state-of-the-art technologies without violating HIPAA. Encryption technology in the healthcare industry is the best option and healthcare providers should start using it to ensure the privacy of patients.
AR, VR, and MR in Healthcare
Virtual (VR) and augmented reality (AR) are important technologies in the healthcare industry to enhance and ensure the quality of telemedicine, especially during the period of the pandemic. The pandemic has made these technologies more popular and the trend is expected to continue in the future too. Both of these technologies in the healthcare industry are used to enhance patient and provider visits and even to educate medical students.
AR and VR also have the potential to help stroke victims overcome deficiencies, assist in robotic surgeries, educate patients before surgeries, facilitate easy surgical planning, help patients with PTSD, and reduce anxiety in children during a painful procedure or blood tests. Mixed reality (MR) is the mixed use of both VR and MR in a patient’s healthcare process and is also gaining popularity.
Blockchain is a trend which is expected to revolutionize technology in the healthcare industry. Using blockchain or digital ledgers will enable you to securely distribute transaction records to patients with improved data security. Along with other trends such as cloud computing and IoMT, blockchain also offers portability, accessibility, and high security. One of the greatest benefits of blockchain technology in the healthcare industry is interoperability.
As blockchain provides full visibility through a digital ledger, it improves integrity and transparency. Blockchain technology in the healthcare industry is beneficial to handle clinical study information, patient wearable data, and patient records.
Scope of blockchain technology in the healthcare industry
Various statistics on blockchain technology in the healthcare industry expect a wide scope for this technology. The global blockchain technology market in the healthcare industry is projected to cross US500 million by 2022.
Digital marketing trends in healthcare
Digital marketing technology in the healthcare industry has been revolutionized as new trends were set by the pandemic in 2020. As the world shrunk to online mode during the pandemic period, the following healthcare digital marketing trends emerged.
The smartest way to attract new patients to your service is content marketing and educational content. 2020 is the time where the content truly emerged as king. Educational content is vital in the healthcare space because everyone always tries to learn new things. It can be a trick or tips about the latest technological advancements, general industry news, or new diagnostic options.
Mobile responsive websites
Another important digital marketing technology in the healthcare industry is making an attractive website, which also must be mobile responsive. In this modern world of technology, everyone wants to access every facility at their fingertips. So, if your website is not mobile responsive, you won’t get traffic to your website easily.
Along with these two trending digital marketing technologies in the healthcare industry, some of the other trends are:
• Video marketing
• Multichannel initiatives and customer touchpoints
• Online reputation
• Powerful presence on social media channels
• Location-based SEO
The essential trends and advancements in technology in the healthcare industry depicting the future of healthcare are machine learning, artificial intelligence, and data science along with a focus on effective healthcare digital marketing technology and strategy. The pandemic fueled B2B healthcare technology will make the industry evolve every year and go on resolving new challenges that arise.
Frequently Asked Questions
Why is technology important to the healthcare industry?
Integrating technology with healthcare industry will improve quality of life. Also, the use of digital technology in the healthcare industry will increase efficiency, quality, and patient experience.
What is new technology in healthcare?
Due to the COVID-19 pandemic, many trending technologies are used in healthcare. The new technologies in the healthcare industries are AI, blockchain, chatbots, voice search, and virtual reality.
What are the negative impacts of medical technology?
Medical technology can have some negative impacts on patients such as impersonal or minimized care, negative health effects, increased patient costs, inappropriate use, and invasion of privacy.
Article | February 10, 2020
By definition, precision medicine treats the individual while public health focuses on population-level interventions. While public health and precision medicine efforts overlap, some experts argue that precision medicine advancements fall short of public health goals due to their underemphasis on scalability and accessibility. Digital health can help reconcile this conflict by promoting precision medicine’s goal of delivering the right treatment to the right patient at the right time while improving health equity through scalable, accessible solutions.