How Technology Is Reshaping The Healthcare Industry

| March 11, 2020

article image
Healthcare industry is currently experiencing a massive digital transformation. There has been stable progress since the introduction of technology in this sector. Tech components like Machine Learning, Natural Language Processing (NLP), cloud computing, Artificial Intelligence and Internet of Thing have helped in streamlining the health care delivery and treating severe diseases. By using technology in medical center, the sector is advancing and progressing in ways no one have ever though-about. As patients began to wary due to unavailability of doctors, poor quality of patient care and issues with finding reasonable care, technology stepped in and a new way to find the help was introduced- Virtual Care. Around 23% of patients had consulted the virtual doctors and satisfied with the care. Moreover, 57% of patients are willing to experience it as well. That's how technology is bringing convenience and ease in the sector.

Spotlight

Eskenazi Health

Eskenazi Health’s mission is to Advocate, Care, Teach and Serve, with special emphasis on the vulnerable populations of Marion County, Indiana. Eskenazi Health is one of the leading providers of health care in Central Indiana, with physicians of the Indiana University School of Medicine providing a comprehensive range of primary and specialty care services within our 315-bed hospital and inpatient facilities as well as 11 community health centers, known as Eskenazi Health Center, located throughout Indianapolis. Eskenazi Health is proud to be one of the leading providers of health care in the city of Indianapolis with physicians of the Indiana University School of Medicine providing a comprehensive range of primary and specialty care services.

OTHER ARTICLES

COVID-19 predictions, Dunning-Kruger Effect and the Hippocratic Oath of a Data Scientist

Article | March 29, 2020

COVID-19 related data sources are fairly easy to find. Libraries in R and Python make it super easy to come up with pretty visualizations, models, forecasts, insights and recommendations. I have seen recommendations in areas like economics, public policy, and healthcare policy from individuals who apparently have no background in any of these fields. All of us have seen these 'data driven' insights. Some close friends have asked if I have been analyzing the COVID-19 datasets. Yes, I have been looking at these datasets. However, my analysis has been just out of curiosity and not with the intent of publishing my forecast or recommendations. I am not planning to make any of my analyses on COVID-19 dataset public because I sincerely believe that I am not qualified to do so.

Read More

Technologies in the Healthcare Industry: Advancements Fueled by the Pandemic

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. • Telemedicine • Artificial Intelligence (AI) in healthcare • The Internet of Medical Things (IoMT) • Supply chain management technology • Privacy issues • AR/VR/MR in Healthcare • Blockchain • 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. Pandemic-fueled Advancements 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. Telemedicine 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 issues 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 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. Content marketing 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.

Read More

Applying AI in the Fight Against The Coronavirus

Article | April 1, 2020

Drug discovery is a notoriously long, complex and expensive process requiring the concerted efforts of the world’s brightest minds. The complexity in understanding human physiology and molecular mechanisms is increasing with every new research paper published and for every new compound tested. As the world is facing a new challenge in trying to both adapt to and defend itself against the coronavirus, artificial intelligence is offering new hope that a cure might be developed faster than ever before. In this article, we will present some of the technologies being developed and applied in today’s drug discovery process, working side-by-side with scientists tracking new findings, and assisting in the creation of new compounds and potential vaccines. In addition, we will examine how the industry is applying AI in the fight against the coronavirus.

Read More

Impact of Social Media on Healthcare Marketing

Article | February 12, 2021

Social media has become a powerful tool to connect people with friends, relatives, family, and other loved ones. Worldwide, around 4.2 billion people are actively using the internet. Among them, 3 billion are regularly active on social media channels. Social media is not just about interpersonal conversations; at least 80 percent of users follow one business on Instagram. With all the ads on your Facebook news feed, you connect with various brands or become aware about many brands. But does social media in healthcare make any impact? Almost all industries have started to realize the power of social media and how it can impact connecting with consumers. Various social media platforms help companies share information, increase brand awareness, and partner with industry influencers. Social media has overpowered traditional marketing strategies. Social media has become the wave of the future. Regarding the uptake of social media, the healthcare industry has been a bit slower. However, the industry now has accepted the undeniable importance of social media in healthcare. The reluctance might have been due to the risks associated for the providers as well as patients. Privacy and confidentiality of patient information has to be maintained always. Those were the challenges of social media in healthcare. However, consumers can get information from social media faster than any other tool. The Healthcare industry includes both the healthcare technology providers as well as the healthcare service providers. Whether you are a service provider or a technology provider, social media can impact your customers equally. This article discusses the positive effects and benefits of social media in healthcare, especially healthcare service providers. Embraced by the Medical Community The healthcare industry took notice of social media when government agencies and other business industries started to reap the benefits of social media. A recent survey revealed an interesting fact about the use of social media in healthcare. More than 1500 healthcare providers around the US have social media presence online. Hospitals miss key opportunities if they don’t use social media. These hospital systems have started effectively using social media to reach out to their past, current, and future patients. Social media in healthcare is an easy medium to share vital information with consumers and patients in the industry. The survey also revealed that more than 30% of medical professionals use various social media platforms to network with their peers. Many physicians also use these social media platforms for multiple activities in open forums. Having an active online presence evokes transparency among clients and peers. Healthcare providers can join various platforms such as Twitter to become healthcare influencers. Through social media in healthcare, providers can make connections, engage the community, and explore the industry. The Case of Cleveland Clinic, Ohio Cleveland Clinic in Ohio, US is the best example of how social media can be used to reach out to patients, engage them online, and stay ahead of competitors. They have more than 2 million followers on Facebook, 1.9 million followers on Twitter, and around 5 lack followers on LinkedIn. They have very different and unique social media strategies. They do post about whatever happens on the campus, including doctors practicing in their respective departments and interactive sessions with doctors and HODs, etc. Also, they do provide health tips and information, general health advice, and updates on the latest medical technologies and treatments. Apart from these, the hospital also reaches out to patients for queries and feedback through social media and responds to them promptly. These effective social media strategies help them in building up a brand, reputation management, create a patient relationship and build patient loyalty. Loved by Healthcare Consumers To find advice and new treatments, healthcare consumers widely use social media. This creates an opportunity for providers to connect with consumers through various forms of healthcare educational content. More than 40 percent of consumers believe that social media in healthcare affects their wellness decisions and health. Among 18 to 24 years old, 90 percent of people trust the medical information they get on social media. This shows the importance of healthcare providers on social media channels. Mobile healthcare is expanding as consumers depend more on the internet for information. Countless fitness and health apps are available online. However, many of them are not effective and do not cure diseases but can change behaviors. Having an app will help you increase your accountability, as a provider, among consumers. Positive Impact of Social Media on Healthcare The healthcare community is widely embracing the scope of social media in healthcare. Healthcare technology providers, hospitals, and other service providers are opening new accounts to create a consistent image among consumers. There are many ways to improve care by reaching out to patients through social media in healthcare. Some of the positive impacts of best practices for social media in healthcare are as follows: Increasing Access Across Generations Healthcare companies have almost stopped employing the traditional ways of advertising. Patients always need quick access to information to reduce the risk of getting flu or to find new providers, including baby boomers, every generation is online. According to Forbes, as of 2017, 9 percent of Facebook users were above 55 years of age. This present generation is very tech-savvy, they search online for local healthcare services and healthcare information. They use Facebook and YouTube. So, you need to create a marketing strategy that targets baby boomers. Generation X also searches health-related topics online, which accounts for 1.5 billion views on YouTube each day. As they care for children and aging parents, they may search for the best long-term care facilities, how to soothe a colicky baby, and so much more. As millennials are focused on healthy living and being cost-conscious, they depend more on social media platforms for healthcare information. Ninety-three percent of millennials say that they do not rely on healthcare providers for preventive health information. Thus, as everyone goes online for healthcare information, healthcare service providers should consider the role of social media in healthcare seriously. By providing reliable and accurate information, healthcare providers can engage with consumers and increase the patient experience through social media. Creating Authenticity The days that the patients trust doctors blindly have gone. Healthcare consumers have become smarter and want to have relationships with providers who care for them. Allowing your tech-savvy employees to share videos and pictures of events or office helps have a human touch. It also improves patient engagement and overall patient satisfaction. If patients know the people in your reception or nurses of respective departments, it helps them relax, engage, and makes them share their health history more openly. This is possible as they connect with those in the office through your social media in healthcare. It increases your authenticity. Keeping an Eye on Competitors Administrators and marketers keep an eye on their competitors through their social media platforms. They evaluate pain points, community involvements, service lines, and marketing strategies sitting in their offices. Hospitals and other providers can quickly get feedback on technologies and marketing strategies the competitors are using. This would help them if they want to incorporate these things in their care process before investing. You can take note of the social media platforms where your competitors are performing well. This approach to social media in healthcare would remove the possibility of failure with your social media strategy, especially when you begin with it. Real-time Updates During emergencies and other situations, social media in healthcare allows you to communicate quickly. Social media updates can provide life-saving information, from crisis alerts to census notifications. World Health Organization (WHO) is an excellent example; they provide real-time information to the masses regarding any health crisis, warnings, and other critical safety information during disasters, using social media, especially Twitter. Similarly, by providing real-time information to your consumers through your social media channels, you can increase your authenticity, authority, and dependency. Real-time access to information saves lives. Gathering Feedback Patients often want to communicate with their doctors quickly. They may need to share something about a recent appointment or about a reaction they had to medication. Making patients provide feedback on social media helps you learn how they feel about their medicine and care. You can get essential feedback that might help you improve your care. It also helps you recognize and reward the staff that the consumers recognize. As a provider, you can also get back to them for additional information after the feedback you get from them on social media. This possibility of social media in healthcare will work more to provide better care next time. Social Media for the Future Social media in healthcare is going to stay here and have advancements from time to time. Most of the modern consumers are tech-savvy and want to have everything at their fingertips. Modern patients have no patience. Therefore, social media works to engage patients and enhance the patient experience and satisfaction. Whether you are a large service provider, a solo practitioner, or run a hospital, you need a social media presence. For engaging with your community, social media in healthcare helps a lot. It can make an impact beyond your imagination. Use these strategies to improve the quality of the healthcare you provide. It may be a tiresome job to do it all alone. We, at Media7, provide social media services to engage your consumers. Whether you are a service provider or a technology provider, we are here to help you with our compelling social media strategies. We help healthcare companies generate leads, brand themselves, increase sales, and make them your happy customers. For more details about us, visit https://media7.com/. Frequently Asked Questions What are the advantages and disadvantages of using social media in health care? When used cautiously, social media can provide clear benefits, such as clinical education, professional networking, and patient’s health promotion. However, there can be disadvantages too, including privacy and confidentiality of patients, resulting in formidable consequences. How has social media influenced the marketing of health care? For establishing public awareness and managing reputation, social media is practical means. As part of an effective marketing plan, social media has become an essential medium for healthcare professionals to interact with consumers and engage them. What is the Importance of Social Media in the hospital? By providing important and general information on healthcare, hospitals can make their presence more valuable to consumers. Encouraging patients to share their feedback and thoughts makes hospitals connect with them and improve the care process. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the advantages and disadvantages of using social media in health care?", "acceptedAnswer": { "@type": "Answer", "text": "When used cautiously, social media can provide clear benefits, such as clinical education, professional networking, and patient’s health promotion. However, there can be disadvantages too, including privacy and confidentiality of patients, resulting in formidable consequences." } },{ "@type": "Question", "name": "How has social media influenced the marketing of health care?", "acceptedAnswer": { "@type": "Answer", "text": "For establishing public awareness and managing reputation, social media is practical means. As part of an effective marketing plan, social media has become an essential medium for healthcare professionals to interact with consumers and engage them." } },{ "@type": "Question", "name": "What is the Importance of Social Media in the hospital?", "acceptedAnswer": { "@type": "Answer", "text": "By providing important and general information on healthcare, hospitals can make their presence more valuable to consumers. Encouraging patients to share their feedback and thoughts makes hospitals connect with them and improve the care process." } }] }

Read More

Spotlight

Eskenazi Health

Eskenazi Health’s mission is to Advocate, Care, Teach and Serve, with special emphasis on the vulnerable populations of Marion County, Indiana. Eskenazi Health is one of the leading providers of health care in Central Indiana, with physicians of the Indiana University School of Medicine providing a comprehensive range of primary and specialty care services within our 315-bed hospital and inpatient facilities as well as 11 community health centers, known as Eskenazi Health Center, located throughout Indianapolis. Eskenazi Health is proud to be one of the leading providers of health care in the city of Indianapolis with physicians of the Indiana University School of Medicine providing a comprehensive range of primary and specialty care services.

Events