The Data Behind: Helping Healthcare Get Better

Health Technology, Digital Healthcare

Article | July 14, 2023

Over the past twenty-five years most businesses have been revolutionized by the easy availability of cloud and mobile-based computing systems. These technologies have placed power and access into the hands of employees and customers, which in turn has created huge shifts in how transactions get done. Now the companies with the highest market value are both the drivers of and beneficiaries of this transition, notably Apple, Facebook, Amazon and Alphabet (Google), as well as their international rivals like Samsung, Baidu, Tencent and Alibaba. Everyone uses their products every day, and the impact on our lives have been remarkable. Of course, this also impacts how businesses of all types are organized. Underpinning this transformation has been a change from enterprise-specific software to generic cloud-based services—sometimes called SMAC (Social/Sensors/Mobile/Analytics/Cloud). Applications such as data storage, sales management, email and the hardware they ran on were put into enterprises during the 80s and 90s in the client-server era (dominated by Intel and Microsoft). These have now migrated to cloud-based, on-demand services.

Healthtech Security

Article | August 31, 2023

Yes, empathy has become a fad. Connecting to another human is actually something cool kids do now. If a brand doesn’t have an impact model that includes a practical social issue, consumers tend to not take that brand seriously. In this case, empathy needs to be revisited beyond the trend itself for these strategies to have real, lasting impact. Practical strategies around compassion meanwhile have similarly become an intrinsic part of social impact organisations. They have become so commonplace that prosocial behaviour has strayed into a kind of tokenism. It is common for instance for consumers to donate their hard-earned money to companies who focus their energies on trying to alleviate real-world issues. The question then is whether this proxy for compassion isn’t in fact watering down human connections, as well as our positive impact on the issues business and organisations seek to solve with our help. Postmodern behavioral science If it is, then we must understand why and how to change that. This is where postmodern behavioral science provides a possible better alternative to social impact strategies. Postmodern behavioral science suggests that the current approach to understanding human behaviour lacks even a rudimentary understanding of empathy, defined in the area of social impact as a discursive strategy that allows us to feel what the group we are trying to help is feeling. Of course, compassion has very close ties with empathy. Empathy is an innate ability we all have, one that we can learn to develop and fine-tune over time. It is our emotional connection to another human, though one that lies beyond our own ego. It takes the perspective of the person who is struggling and seeks to understand their life, their struggle, and their worldview. It also resolves to value and validate their perspective and experience — something that donating money to a social impact cause does not. In its broader definition, empathy is a shared interpersonal experience which is implicated in many aspects of social cognition, notably prosocial behavior, morality, and the regulation of aggression. Empathy has a host of positive after-effects when applied as an interpersonal experience. If a social impact organisation is preoccupied with raising capital, then it is likely to disregard the practical worth of empathy for those who truly want to achieve its mission. Immersive empathy One way that behavioral science can contribute is to utilise tools that can help augment the experience of those in need for those needing to understand those needs. Both AR and VR can help people visualise and follow the stories of those who require compassion. These create virtual environments for partners, governments, and consumers to experience with the people they seek to help. But of course, much of human behaviour is geared toward seeking pleasant experiences and avoiding unnecessary pain. Our in-built hedonic valuation systems guide decisions towards and away from experiences according to our survival instincts. This is precisely why business owners who want to encourage empathy in their customers go the easy route, but should seek a more participatory frameworks to inspire and provide experiences for those on board with a social mission. Then there are issues like financial literacy in underserved populations, access to clean water, education for women and girls, and environmental conservation, to name a few of the problems that social impact companies are attempting to tackle. If a company is trying to tackle an issue such as access to clean water, then rather than start there, it should first ask exactly how this issue arose and developed. It should question the beliefs that underpin this chronic social inequality, those that inform policies, practices, cultural taboos, and beliefs about water and people’s access to it. To simply respond to an issue in its developed form is to leave it unfixed. We must be willing to reverse engineer the origins of that issue that got us to where we are. In other words, human behaviour is not the only component to consider in this. The main behavioral framework public servants should take with them is to develop a nudge unit solely based on the relationship between behavioural science and technology. This is mainly because technology is an inevitable part of how we now relate to one another. Immersive Compassion meanwhile should embrace tools like AR/VR that seek to create empathetic environments and valuable impact longevity. To fully embrace empathy as an organisation is to create relevant and rigorous responses that go as far as to alter the infrastructure of its target goals. Optimising social impact comes down to optimising human experience.

Health Technology

Article | September 12, 2023

It’s no secret now that healthcare is an in-demand field. Today, business leaders need modern and intelligent decision-making solutions for their customers and clients. They must also focus on the right investment areas and learn the tricks for investing, spending, and setting goals for revenue generation to accelerate business. With continuous developments in the healthcare sector, integrating AI into processes can help increase ROI. Therefore, if you, like any other business leader, are looking for solutions to empower your services and products in the healthcare domain, this article will help you through AI’s ultimate use cases and churn out a higher ROI. What’s with AI in Healthcare at Present? AI’s role in healthcare is evolving and enhancing traditional business operations, particularly marketing. According to a study by IBM, 71% of customers expect real-time communication. Thus, global demand is fueling the rising adoption of AI marketing solutions. The effects of AI in healthcare are evident. Gartner reports increased marketing efficiency and effectiveness (86%), improved decision-making (71%), better data analysis and new insights (79%). Global AI spending will rise from $450 million in 2019 to over $28 billion by 2024 is not surprising. Similar and further studies are ongoing on various use cases of AI in healthcare at scale. What are the efficient use cases of AI that will help healthcare businesses boost their ROI? Let’s find out. How is AI Applied in Healthcare? The promising applications of AI in healthcare to improve outcomes are very intriguing. While there is still much to achieve in the AI-dependent healthcare business, there is sufficient potential that tech companies are willing to invest in AI-powered tools and solutions. Let’s examine the potential examples of AI in healthcare to prepare and support business strategies accordingly and foster higher ROI generation. Predictive Analytics AI-based predictive analytics impacts a business by automating administrative tasks, predicting sales outcomes for a year, customers’ behavior and making strategies accordingly. According to a Forbes study, AI-based predictive analytics can save businesses $18 billion in tasks, expenses, and pricing. To understand this, one example of using AI to automate admin tasks is a collaboration between the Cleveland Clinic and IBM. Cleveland Clinic uses IBM’s Watson to mine big data and provides personalized services for customers and clients on marketing deeds. Some of the practical applications of AI and predictive analytics in healthcare are: Monitoring market trends to maximize marketing efforts Organizing datasets Creating marketing campaigns tailored to each demographic-based client Mining collective data for future decision-making Fraud Prevention AmerisourceBergen Corp detects fraud and misleading business operations through AI. A sales account team conducts audits with AI to detect usual lea and queries to prevent hefty expenses for businesses. The example explains that implementing AI in your process will help detect any significant fraud attempts inside your business operation. This will help your business save huge expenditures. Boost Sales By putting down false leads, AI helps in maximizing sales numbers, resulting in significant ROI generation. For example, AI transforms data into personalized data, which reduces the cost of operations. Chatbots Most healthcare businesses leverage chatbots on their websites to engage more and more customers and boost engagement. In this way, businesses tend to gain multiple leads and convert them into clients by providing the best marketing solutions. Chatbots are fruitful for AI start-ups in healthcare—small businesses can deploy AI to their websites. By doing so, they can save millions in administrative costs and attract numerous leads. The most prominent examples of AI in healthcare hail from giant tech titans such as IBM, Amazon, and Microsoft. They are assisting healthcare providers with AI to create and deploy digital-human employees. Segmentation of Marketing Targets Is your target audience not responding to your marketing campaigns (for example, by not clicking a link, subscribing or unsubscribing to a newsletter, or not registering for a medical event)? If that's the case, how should you go ahead? Using AI-based tools allows your marketing to easily identify target behaviors and reactions based on the type of marketing actions to be carried out. Analyzing these actions can help segment targets based on your company's marketing objectives. The most significant development took place in April 2022, when Amazon Alexa became fully HIPAA compliant. It works with health developers and service providers that manage protected information for customers. AI Leads to Data Modernization It’s all about the data—not any data! There’s a precise association between AI and data management, resulting in data modernization. According to a Cognizant research study, healthcare leaders have made significant progress in modernizing their data. In contrast, most upcoming businesses are expecting to do so by 2024. The maximum acceleration of AI in modernizing data will be seen in the manufacturing and marketing of healthcare products and services, respectively. It is because AI helps to churn data easily. The accessibility of data, in particular, becomes simpler with automation than doing it manually, which generates a massive amount of data. Such effects of AI in healthcare can be one of the prime reasons for the higher ROI of your business in the future. “There has never been a greater need for skilled analytic talent in health care. Because AI is becoming more strategic, organizations must ensure access to this skill set, either by growing their analytic teams or seeking out experienced partners." Steve Griffiths, CEO of Optum Enterprise Analytics AI Expenditure is on the Rise McKinsey says that by 2025, the use of AI in healthcare will be widespread, resulting in significant expenditure by global healthcare leaders. AI is a significant concern for healthcare decision-makers, investors, and innovators as customers extensively engage and react to AI-powered services and solutions. AI is constantly bringing improvements to almost all processes, including cost savings, management of services and products, and monitoring of multiple operations. Even small businesses in the healthcare industry are proactively investing in AI applications to match steps with the current wave of innovation in healthcare services. Accelerate ROI Using AI AI in healthcare is becoming one of the prime responsible technologies for accelerating ROI. Technology can eradicate multiple business growth challenges. Let’s find out how. Enhanced Performance As previously stated, use cases of AI in healthcare can relieve stress on employees. This would allow them to devote their time to more value-added marketing activities to churn more ROI. Emphasize Cost-Effectiveness Most of the businesses associated with healthcare are concerned about the costs involved. With AI, they now develop policies to spend less on non-essential activities and necessitate profit-oriented actions. "We believe in the potential of AI to deliver insights and operational efficiencies that unlock better health-care performance." Robert Musslewhite, CEO at OptumInsight Frequently Asked Questions How is AI used in healthcare? AI in healthcare automates and predicts processes by analyzing data throughout. It is used to predict potential customers, improve business management workflows, and manufacture medical products. How does AI drive growth in the healthcare industry? AI drives business growth by improving the ability to understand better day-to-day customer patterns and needs based on services and products. How is AI changing the Healthcare industry? AI applications in healthcare have demonstrated their potential to improve analytics and data management and assist service providers in making timely medical decisions.

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. Final Word 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. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How does health tech marketing become effective?", "acceptedAnswer": { "@type": "Answer", "text": "Effective health tech marketing is essential to reach out to potential clients and grab their attention. 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