Health Technology, Digital Healthcare
Article | August 16, 2023
In 2021, the introduction of Amazon Care marked the first time a prominent technology firm stepped into the healthcare services industry. The fact that Amazon filed paperwork to offer care in multiple states without much fanfare is intriguing. In March 2021, the company confirmed the details of its new services, announcing that it would be delivering the services through an independent private medical practice called Care Medical.
The move may signify another diversification for Amazon, but what does it mean for the healthcare services landscape?
The Highlights of Amazon Care’s Services
Home healthcare
Amazon announced that it would be participating in an advocacy group for home healthcare. The Moving Health at Home initiative aims to transform how policymakers view the home as a site to deliver clinical services. Amazon Care may be riding on the trend for home care that has been evolving in the form of remote patient monitoring for post-acute care management and chronic care.
Employer-oriented offering
Amazon Care aims to become a workplace benefit partner for employers. One of the pain points it is directly addressing is the challenge of runaway inflation that increases healthcare costs.
Virtual care simplified
The most significant offering that Amazon Care plans to lead with is virtual care that promises to reduce wait times for quality patient care to under 60 seconds. It also includes the option to access 24-hour care services through messaging and video calling. In addition, it eliminates unnecessary traveling and long wait times by delivering care in the comfort of the patient’s home.
The Path Ahead
Amazon is known for introducing a slew of initiatives in the health and fitness sector, like the Halo wearables, a data management product called Amazon Health Lake, and a healthcare delivery system called Haven, which doubled over in 2021 after a three-year run. However, the tech juggernaut is not about to stop attempting to disrupt healthcare services. Only time will tell whether Amazon Care finally proves to be a feather in Amazon’s healthcare cap or another ambitious project that bites the dust.
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Healthtech Security
Article | November 29, 2023
In the ever-evolving healthcare landscape, transparency in pharmacy benefit management (PBM) has emerged as a critical issue. The discussion surrounding driving down prescription drug costs and increasing access to affordable medications has brought attention to the practices of PBMs. However, achieving true transparency requires more than just buzzwords; it necessitates access to real-time data that empowers consumers to make informed decisions about their healthcare. In this piece, we will explore the importance of real-time transparency in PBMs and highlight how Xevant, a leading platform, is revolutionizing the industry.
The Current State of PBM Legislation
With over 100 bills to reform PBM practices, legislative efforts are intensifying to address the business practices associated with PBMs. However, one common concern is the absence of language surrounding real-time automation in many of these bills. The lack of such provisions threatens to undermine the effectiveness of the proposed reforms. It is crucial to examine the available resources and insights to gain a comprehensive understanding of the issue. The current state of PBM legislation and the efforts to reform PBM practices highlight the pressing need for transparency and accountability in the pharmaceutical industry. PBMs play a critical role in the drug pricing ecosystem. Still, concerns about “traditional” PBM business practices, such as lack of transparency and opaque rebate systems, have raised questions about their impact on drug prices and patient access to affordable medications.
Xevant's Groundbreaking Solution
Xevant, led by CEO Brandon Newman, stands at the forefront of the drive for transparency in PBM practices. As the only platform capable of providing PBMs and consumers with real-time, automated, and completely transparent data from the entire pharmacy benefits ecosystem, Xevant is poised to revolutionize the industry against the backdrop of the political landscape.
The absence of language surrounding transparency and real-time automation in many proposed bills threatens the effectiveness of the reforms. Yet, innovative companies like Xevant are leading the charge for openness in PBM practices. Xevant's real-time data automation and optimization capabilities empower consumers with timely, comprehensive, and transparent information, enabling them to make informed decisions about their healthcare and potentially save money.
With the potential passage of these bills, the pharmaceutical industry could see a shift towards greater accountability, fairer pricing practices, and improved access to affordable medications. The reforms could also create a more level playing field for generic drug manufacturers, fostering competition and lowering prices.
Real-Time Data Automation and Optimization
Newman emphasizes that transparency cannot be achieved without access to real-time data automation and optimization. This real-time, customized data enables individuals to compare prices, explore alternatives, and understand the specific cost components related to their medications. By bringing together various parts of lowering drug costs, such as drug rebates, 340B contracts, sell-side discounts, copay assistance, and employer negotiations, Xevant offers a solution that empowers consumers with the information they need when required.
The Implications of Timely Access to Data
The scarcity of timely access to data among many traditional PBMs is a significant challenge in achieving transparency in the pharmaceutical industry. These PBMs typically collect data annually, which leaves a substantial margin of error and can result in millions of dollars lost from consumers' pockets. In contrast, Xevant's capabilities offer a game-changing solution.
With Xevant's platform, consumers gain immediate access to critical information regarding drug rebates, markups during spread pricing, competitive alternatives, and the vast landscape of the pharmaceutical ecosystem. Having these complete datasets available in real-time allows individuals to make informed decisions about their healthcare and potentially save lives. The significance of timely access to data cannot be overstated, as transparency becomes meaningful only when it happens in the present rather than months, or even a year, later than when the impact has already occurred.
Navigating Proposed Legislation and Questionable Business Practices
Another critical aspect of the PBM landscape that Xevant addresses is the moral implications associated with cost-sharing, clawbacks, spread pricing, and the pass-through of rebates. These practices have long been criticized for their opacity and their negative consequences on patients' access to affordable medications. Xevant's transparency-focused approach highlights these practices, allowing stakeholders to evaluate their ethical implications and work towards fairer alternatives.
Xevant recognizes that proposed legislation may have potential cracks that allow for slip-through and the continuation of questionable business practices. Delayed and inaccurate reporting are loopholes that can hinder the effectiveness of reform efforts. By actively engaging with legislators and industry stakeholders, Xevant aims to identify these potential shortcomings and advocate for comprehensive robust legislation that leaves no room for exlploitation
The Future of Healthcare and the Role of Real-Time Automation
As the discussion surrounding PBM reform gains momentum, the future of healthcare in America hangs in the balance. Xevant sets a new standard for efficiency and consumer empowerment in healthcare decision-making by employing AI-driven technology. Xevant's visionary approach to real-time data automation and optimization paves the way for greater transparency and cost savings in the pharmaceutical industry.
Wrapping Up
Transparency in pharmacy benefit management is crucial to addressing the soaring costs of prescription drugs and enhancing access to affordable medications. Without access to real-time data and automation, the pursuit of transparency remains elusive. Xevant's groundbreaking platform solves this pressing challenge, enabling PBMs and consumers to access complete, transparent data in real-time.
As legislative efforts progress, the need for real-time transparency becomes increasingly evident, and Xevant emerges as the leading legal solution for PBMs. When harnessing the power of real-time data automation, the vision of affordable healthcare can be transformed into a reality, benefiting individuals and the entire healthcare ecosystem.
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Health Technology, AI
Article | July 18, 2023
Explore the evolution of healthcare by diving deep into these EHR trends, as they pave the way for the future of EHR. Embrace cutting-edge solutions to enhance patient care and optimize operations.
1. Introduction
2. Significance of EHR Trends
3. Top 10 EHR Trends Shaping the Healthcare Industry
3.1 EHR Interoperability
3.2 Patient-reported Outcome
3.3 Patient Portals
3.4 Generative AI
3.5 Cloud-based EHR
3.6 Voice-enabled EHRs
3.7 Predictive Analytics
3.8 Robotic Process Automation
3.9 Telehealth-EHR Integration
3.10 Blockchain for EHR Data Integrity
4. Future Scope
1. Introduction
Electronic health records (EHRs) have transformed the medical industry by revolutionizing how medical information is recorded, accessed, and utilized. This article focuses on the EHR trends and innovations that have reshaped the healthcare field, paving the way for a more efficient and patient-centric future.From enhanced interoperability to cutting-edge technologies, professionals can unravel the key trends propelling future of EHR toward a new era of healthcare delivery.
2. Significance of EHR Trends
The importance of EHR software technology trends is highlighted by their transformative influence on the healthcare sector. This transformation was further expedited by the impact of the COVID-19 pandemic, which played a critical role in the increased adoption of telehealth services. As the pandemic necessitated alternatives to in-person visits, the demand for efficient and remote medical services surged, propelling telehealth to the forefront. Yet, looking beyond pandemic responses, the ongoing adoption of EHR trends in healthcare can significantly reshape how healthcare functions. Embracing these EHR trends enhances efficiency, facilitates personalized care, improves data exchange, drives data-driven insights, and empowers patient engagement. Irrespective of global events, it remains essential for healthcare facilities to stay abreast of these trends to remain adaptable and deliver optimized care, ultimately benefiting both providers and patients.
3. Top 10 EHR Trends Shaping the Healthcare Industry
Recognizing significant industry trends becomes crucial in a field that is constantly subject to technological advancement and global change. From adopting advanced technologies to prioritizing sustainability and customer-centric approaches, these EHR trends hold the power to bring about significant transformations across the healthcare sector.
3.1 EHR Interoperability
EMRs face a notable limitation in their ability to integrate with other systems, whereas EHRs offer robust interoperability, enabling seamless data exchange among healthcare facilities. As the demand for interoperability grows, the distinction between EMRs and EHRs becomes increasingly blurred, with vendors referring to products as EMRs that closely resemble what was initially known as EHRs. In response to this trend, developers and IT specialists continually update EHR systems to comply with interoperability policies, making EHRs more appealing for organizations seeking comprehensive and connected healthcare records.
3.2 Patient-reported Outcome
Patient-reported outcome or PRO EHR integration involves incorporating patient-reported outcome measures into electronic health record systems. PROs gather information directly from patient records about their health status, symptoms, and quality of life. These insights provide valuable subjective data for healthcare providers. For orthopedic patients at the clinic, completing surveys on their smartphones via a mobile link is easy. Clinicians can access patient responses during or after appointments to offer tailored care recommendations based on survey readings. Access to patient-reported outcome data empowers clinicians to deliver patient-centered care, fostering greater patient involvement in their treatment journey.
3.3 Patient Portals
Patient portals in EHRs are pivotal in modern healthcare practices as the industry embraces digital transformation. Patient portals within EHR systems are crucial to empowering individuals and facilitating communication between patients and healthcare professionals. These portals enable patients to access their personal health information securely. Patients can schedule appointments, ask questions, and even have virtual consultations, making healthcare more accessible and patient-centered. With improved communication and engagement, patient portals bridge the gap between individuals and healthcare professionals.
3.4 Generative AI
Integrating generative AI tools with Electronic Health Record systems holds immense promise for advancing healthcare industry. Generative AI can significantly enhance EHR software precision and overall technology, resulting in streamlined daily workflows and enabling healthcare providers to prioritize patient care. By utilizing patterns and structures from existing data to create new content resembling the training data, generative AI brings valuable improvements to EHR systems. These benefits include efficiently filling in missing data, enhancing clinical decision support, automating documentation and coding processes, and ensuring billing accuracy, thereby alleviating the burden on healthcare providers.
3.5 Cloud-based EHR
Cloud computing is gaining traction as medical organizations explore the benefits of outsourcing administrative and clinical services, including medical billing, reporting, lab integration, and more. With the increasing adoption of EHR systems, the advantages of easy access to patient data have become crucial. As the patient population continues to grow, the complexity of data rises, demanding solutions that ensure secure storage and accessibility. Embracing cloud-based infrastructure becomes imperative in this scenario, granting healthcare professionals the flexibility to access data using tablets or smartphones safely. This integration empowers clinicians to enhance their productivity in the clinical environment, laying the groundwork for long-term success by offering mobility solutions that cater to evolving healthcare demands.
3.6 Voice-enabled EHRs
Integrating voice recognition technology with EHR systems is a significant advancement for clinicians. By allowing hands-free input of information and patient data, voice recognition technology reduces inaccuracies and speeds up information recording. Additionally, with the support of AI, EHRs equipped with voice recognition can assist doctors in recognizing historical patient trends and making accurate diagnoses. As companies strive to incorporate AI into EHRs through voice-enabled technology, physicians can effortlessly access patient data and inquire about specific health parameters, such as the last recorded iron levels from a blood test. This streamlined approach improves efficiency and enhances the overall healthcare experience and decision-making process.
3.7 Predictive Analytics
Predictive analytics applications have become a significant driving force within the healthcare industry, yielding profound impacts on diverse areas, including cancer treatments and emergency staffing optimization. As the field continues to evolve, the adoption of predictive analytics technology is expected to expand further. Specialized healthcare app development services utilize AI-powered analytic methods, such as statistics, data mining, and modeling, in conjunction with AI capabilities to offer clinical outcome predictions based on real-time device data and electronic health records. This integration aims to elevate the patient experience and improve care delivery, equipping healthcare professionals with valuable insights to make more informed and proactive care decisions.
3.8 Robotic Process Automation
Robotic Process Automation (RPA) is driving the expansion of the automated data capture market for electronic health records worldwide, owing to its ability to enhance workflows and ensure increased accuracy. By automating data capture through robot-based processes, RPA eliminates the need for manual data entry, leading to improved precision. In the healthcare industry, RPA serves as an effective technique to address EHR flaws without requiring a complete system redesign, permitting the utilization of digital labor to preserve efficient processes while resolving underlying issues. By employing system algorithms and programs, RPAs efficiently automate tasks typically carried out by human resources, accelerating the digitization of medical facilities and promptly addressing imperfections.
3.9 Telehealth-EHR Integration
Integrating EHR systems with telehealth platforms revolutionizes healthcare by facilitating remote care and streamlining clinical workflows. This alliance will enable medical organizations to deliver high-quality patient care from a distance while ensuring the swift and secure transfer of patient information between systems and interfaces. The combined power of telehealth and EMR systems enhances virtual care activities, automates data entries, and synchronizes insurance information in a single window, thus optimizing efficiency and productivity for healthcare providers and their staff. Moreover, this integration strengthens patient-physician engagement and fosters seamless collaboration among healthcare teams.
3.10 Blockchain for EHR Data Integrity
While blockchain technology gained prominence through its association with cryptocurrency, its application in healthcare is steadily gaining momentum. By utilizing cryptography, blockchain ensures the utmost security and integrity of EHR data, limiting access to authorized individuals only. In healthcare, blockchain brings value, from validating clinical trials and verifying claim results to monitoring medicine distribution, authenticating prescriptions, and combating insurance fraud. Additionally, smart contracts leverage blockchain to automate actions based on predetermined outcomes, reducing the need for extensive human involvement. Although the adoption of blockchain in healthcare technology is still in its early stages, several EHR systems have already incorporated it to enhance security, scalability, and confidentiality measures.
4. Future Scope
The convergence of IoT devices and big data technology is set to revolutionize the healthcare experience, offering unprecedented digitization and patient engagement. The disruptions brought on by the COVID-19 pandemic have underscored the need for healthcare institutions to adapt and embrace technological advancements. Careful selection of the right EHR system is crucial for healthcare organizations, and a structured approach that involves key stakeholders, requirements definition, vendor evaluation, and implementation planning is essential for successful EHR implementations. The ultimate goal remains to enhance patient care, streamline workflows, and achieve operational efficiencies. While EHRs have already made significant strides in the industry, the future of electronic health records holds even more excellent benefits and technological impact, with healthcare mobile app developers playing a vital role in the value-based healthcare model and preparing for EHR optimization.
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Health Technology
Article | June 22, 2022
Technology in the 21st century is the fuel that drives innovation and ease in almost every industry today. The healthcare sector isn’t far behind. In fact, the medical industry has taken the concept of the Internet of Things and took it to a new level altogether to reimagine the use of medical technology.
Imagine multiple devices like phones, cameras, GPS sensors, and computers interacting with each other through a seamless transfer of data. Now consider wearable medical devices. The exchange of critical medical information through a web of real-time data networks activates near instantaneous responses from doctors, nurses, and medical services. The aim is to anticipate the need for medical attention long before it is needed and remedy the concerns before they reach a critical stage.
That is exactly how the future of the Internet of Medical Things (IoMT) is shaping out to be.
How IoMT is Redefining Everyday Health?
IoMT is a next-generation solution that embeds cutting-edge monitoring and analysis of individual healthcare journeys through medical devices. The smart watch is the most recognizable wearable medical device that is used by millions of people daily to keep tabs on their vitals.
For instance, the Apple Watch series 6 maps blood oxygen levels, sleep patterns, ECG levels, and also reminds the user to wash their hands after returning home.
The market for healthcare IoT products is vast and is constantly expanding. The Tango Belt is a leading example of smart wearable technology that is revolutionizing elderly and disability care. The belt is designed to sense falls and deploy airbags to soften the impact. In addition, it alerts caregivers in the event of a fall. The belt also uses data analytics by collecting mobility data that is then synced to a smartphone app for displaying metrics.
Technologies that Empower IoMT
With the diverse tasks that medical devices must perform, applications exist across a wide spectrum, from artificial intelligence to 5G networks to the cloud.
Consider a pacemaker, for instance. Modern pacemakers are embedded with a multitude of technologies that communicate with each other to send critical patient data to physicians. A pacemaker is a bioelectronic implant that is placed in the chest to control the heartbeat. But a smart pacemaker goes a step further. It is equipped with wireless bluetooth technology that communicates with the patient’s wearable medical device. The smart device or phone will then transfer this data to physicians for check-ups and even alert doctors in the case of anomalies.
To Round It Off
IoMT will subsequently power all medical devices and usher in a future where technology forms the backbone of healthcare service delivery. Although wearable medical technology has been around for decades, the development of a streamlined communication channel between them has redefined their use. Smart medical devices are no longer just an aid but a source of vital individual medical data as well as a way to anticipate care and medical attention.
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