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.
FUTURE OF HEALTHCARE
Article | April 1, 2020
Prioritizing health and managing it, has become highly important because our lifestyle is continuously evolving in ways that take a toll on us mentally, physically, and emotionally. However, the major issue for the patients lies in the inaccuracy of treatment due to the lack of complete health records in any hospital. With the recent changes in privacy legislation and data management, patients are even unable to retrieve their own health records.
For example, someone had an accident and was taken to the emergency room. The first thing they will need to do in their condition is to fill the hospital’s form. Then, for the treatment, if the injured person is conscious enough, doctors ask questions like if they are allergic to some medicines or do they suffer from diabetes or any other disease. Besides, what if the individual denies having allergies or diabetes in their half-conscious state? And the previous hospitals where they have already had treatment before have denied sharing the medical details of the person either due to privacy issues or data corruption. Well, it can create a lot of fuzz.
Solely, to improve the health industry without compromising the security of the individuals, blockchain has remained in the discussion. It has the potential to address the operability challenges present in the healthcare industry. But, what is blockchain, what are its underlying fundamentals, why blockchain, and what are its advantages?
Today’s blog will help in understanding every aspect of blockchain and its impact on the healthcare industry. So let’s get started!
What is Blockchain?
Blockchain is a P2P or peer-to-peer distributed or decentralized ledger technology. It stores a chain of data called blocks of information. These blocks are chained together by cryptographic signatures. These signatures are called hash that is stored in the shared ledger and backed by a connected processes network - node. These nodes reserve a copy of the complete chain and get continually updated by synchronization. Though, to include blockchain in the process it’s necessary to hire a developer who has prior experience and knowledge about its architecture and can work with the components efficiently as blockchain is a designed pattern that consists of three major constituents - a distributed network, a shared ledger, and all the digital transactions.
a. Distributed Network
As discussed before, blockchain is built on peer-to-peer networks. While having no central point of storage, it makes the information on the network less vulnerable to being lost or exploited.
Unlike the traditional client-server model that has a centralized storage point or controlling party, all the information in the blockchain network is constantly recorded and transferred to the participants of the network that are also known as nodes or peers. These peers also own several identical copies of the information. That’s why blockchain is seen as a huge improvement to centralized models and is considered the future of data storage and ownership.
b. Shared Ledger
Each authorized participant in the network records the transactions into the shared ledger. If they want to add any transaction, it is important to run algorithms that evaluate and verify the transactions. If the majority of members agree to the transaction’s validity, a new transaction gets added to the shared ledger. The changes done in the shared ledger is reflected in minutes or even seconds in the copies of the blockchain. Once the transaction is added, there’s no way to modify or delete it. Also, as the copy is shared in the form of a ledger to each member, no single member can alter data.
c. Digital Transaction
Transactions are information i.e. data transmission to one block. During the process of data transmission, each node acts as a central point to generate and digitally sign the transaction. As the nodes connect each other in the network, each of them has to verify the transaction independently for its conflicts, validity, and compliance. Only after the transaction passes the verification, the information is added into the shared ledger. The major element that makes digital transactions successful is cryptographic hashing that encrypts the data for security.
Why Blockchain technology in healthcare?
It has happened so often that the patient remains unable to gather all of their previous medical records in one format from one place swiftly or sometimes cannot even collect the required information at all. Unfortunately, in most cases, the information of critical patients remains scattered across several different institutions of healthcare that too in different formats. Besides, the data management systems along with the security regulations also vary in different institutions making it difficult to trace and fix mistakes.
But, what can blockchain do?
A blockchain is a system used for storing and sharing information with security and transparency. Every block in the chain is an independent unit of its own and a dependent link among the collective chain that creates a network controlled by participants rather than a third party.
As blockchains are managed by network nodes instead of central authority, they are decentralized that prevents one entity from having complete control over the network. With the incorporation of blockchain, the need for a central administrator will be removed by cryptography. Healthcare providers will be able to promote data management processes beyond perception. It will help in collecting, analyzing, sharing, and securing medical records. It will provide the access to healthcare workers for retrieving health records with the cryptographic keys provided by patients from anywhere without creating any privacy or security problems.
Advantages of Healthcare Blockchain
Although applications of blockchain in the healthcare industry are inceptive, some early solutions have shown the possibility of reduced healthcare costs, improved access to information among different stakeholders, and streamlining the entire business process. So, keeping aside the buzz, let’s see the real advantages of blockchain in healthcare.
1. Master Patient Indexes
The master patient index helps in the identification of patients across separate administrative systems. It is often created within the EHR or electronic health record system. As these EHRs have different vendors, there are several irregularities of MPIs. In many cases, the data of a patient between these healthcare systems become mismatched. However, with the nature of decentralization in Blockchain, it possesses the ability to solve the issue. In the blockchain-based MPIs, the data will be hashed to the ledger and content will remain unique as only the authorized nodes of the data can make changes to the hashes while all parties with access can only check the related information.
2. Single, elongated patient records
Blockchain technology is potent to transform health care by placing patients at the center of the system while increasing the security and privacy of health records. It provides a new model for health information exchange by forming electronic elongated patient records secured and efficient. Additionally, the fact that the data is copied among all the nodes of the blockchain network creates an atmosphere of clarity and transparency that enables healthcare providers and patients to know how their data is handled by whom, how, and when. It can also help healthcare from potential frauds, data losses, or security attacks.
3. Supply Chain Management
Supply chain management in healthcare is a challenging aspect. With scattered settings for ordering drugs, medical supplies, and critical resources, there’s an inherent risk of compromising the supply chain that might impact patient safety. Indulgence of blockchain technology in the transactions can tap into the complete process of medicine or drug products movement. As all the transactions will be recorded onto the shared ledger with every block recording and maintaining every transaction, it will become easy to verify the vendor, distributor, and origin of the drug within a matter of seconds. It will also enable healthcare physicians and officials to check the authenticity of the supplier’s credentials.
4. Claims Justification
Currently, the insurance claim processes face difficulties like lack of transparency i.e. most customers don’t even know how insurance works; human errors and inefficiencies i.e. insurances are full of confusion along with human errors that create inefficiencies that lead to the increased cost to customers; higher frauds in claims. But, blockchain technology can simplify and enhance recordkeeping, payment processing, claims registration, contract management, and closure with its immutable ledger.
Interoperability is the capability of distinct healthcare information technology to interpret, exchange, and use data. Due to the privacy issues, the alphanumeric code to identify a patient has been revoked that caused problems in gathering the required record of the patient. Enforcing measurement standards for industry-wide interoperability is also a challenge in interoperability. With blockchain in healthcare interoperability, data can be shared in real-time on the trusted network and provides access to the patient’s record in a secured manner. Moreover, with the pri
Article | April 1, 2020
Government bodies have organized vaccination drives from the days of paper, pen and file folders. Nations across the globe have successfully run vaccination programs on a large scale.
In countries such as India, with the second-largest population, a vaccination campaign to eradicate polio was delivered at specified centers and going door-to-door. India was declared officially polio-free in March 2014. All without technology!
Routine vaccination administration has always been either by a scheduled or walk-in appointment. Vaccinating populations for polio, smallpox or similar diseases has always been a part of a multi-year plan for governments.
Article | April 1, 2020
The healthcare industry is witnessing an unparalleled phase of expansion and vitality. It is a phase of radical revolution due to the wake of digital transformation. Digital transformation has opened up enormous unique opportunities that were unimaginable until a few years back.
These digital trends are bringing companies and individuals together. Data is the starting point of the digital revolution. These data are then transformed into relationships. Today, including healthcare companies, the success of every company is at stake. In other words, it is how you communicate with customers that matters.
This blog is all about healthcare digital communication, especially healthcare video marketing.
We’ll start by looking at data that demonstrates the power and effectiveness of the video marketing medium. There is nothing equal to the power and efficacy of video marketing in our world today. Then, we’ll look at the video marketing best strategies, healthcare video marketing best practices, and successful examples for healthcare video marketing.
There’s Nothing More Effective than Video Marketing
Here are some numbers that alone demonstrate why video is the most effective marketing medium in the digital age:
More than 5 billion videos are viewed on Youtube every day;
78% of online users watch at least one video every week. And 55% watch one every day;
According to estimates by Cisco, by 2022, 82% of all internet traffic will be generated by video. This percentage was already 72.3% in 2017;
When it comes to video, 55% of people pay more attention than any other type of content;
when viewing a video, the average user retains 95% of the message it contains; this percentage goes down to 10% when we talk about the text;
about 100 million hours of video watched every day on Facebook;
82% of registered Twitter users consume video content constantly;
on Instagram, posts containing video record 38% higher engagement on average than posts containing images;
54% of consumers say they want to see more videos from the brands they follow and support.
Such statistics are compelling for brands, and brands are taking notice. As a result, brands are moving to implement videos as much as possible in their marketing strategies, with excellent results. Two statistics below offer additional proof:
87% of marketing professionals use video in their strategy.
88% of marketers are satisfied with the ROI generated by video marketing campaigns.
This collection of data proves one thing: video is the most effective tool for healthcare digital marketing. And this also applies to the Healthcare sector. It’s even more accurate for this sector, which is intimately involved with consumers as part of their daily lives. Thus, healthcare video marketing is much effective and should be included in your healthcare marketing plan.
Strategies and Best Practices of Healthcare Video Marketing
So, let’s take a closer look at how we can build a video marketing strategy in the Healthcare sector, the fundamental points that must be included, the best practices, and some examples of success.
Start from education
It is often said that we live in the information age. Today, as never before, we have access to all the information we could need in just a few seconds, maybe with just a few taps on our smartphone during a coffee break. Health information is undoubtedly among the most sought-after online. In Italy alone, web searches made on this topic are 4 billion per year, a constantly growing trend.
The downside of all of this is the difficulty of finding your way around this mass of information, which is sometimes complex, misleading, or even untrue. That is why the first task of a company in the Healthcare sector is education. Education is not just a responsibility; and it’s also an opportunity.
In this sense, healthcare videos marketing prove to be the best ally. Healthcare video marketing is a way to provide the consumer with an effortless way to have access to transparent, precise, and authoritative information from your brand. That can be the first step toward establishing a relationship of trust with your brand.
Be clear, but also calm
In this case, let’s start immediately with an exciting and practical example. Targeted toward their younger patients, Miami Children’s Hospital created a healthcare video marketing campaign that explains what happens before, during, and after heart surgery. Understandably, this is a sensitive topic. With this effort of healthcare video marketing, the Miami Children’s Hospital manages to achieve the complex objective of providing clear and authoritative information while at the same time reassuring the viewer.
They make the healthcare video marketing campaign compelling, authoritative, and reassuring by showing the faces of its staff members, demonstrating their professionalism, the environment, the healthcare technologies used, and everything related to the surgery. In this way, the high level of preparation and humanity of the people involved stand out to the viewer.
Learn to be engaging
As we saw above, you have to know how to correctly inform and educate your audience using influential healthcare video marketing trends, all with a calm demeanor. However, it’s also true that success also depends on your ability to excite and involve the viewer for healthcare video marketing in the sector. In short, the keyword is ‘storytelling.
An excellent example is the healthcare video marketing campaign carried out by the dental health department of Bupa UK and addressed to children (but applicable and reachable to adults as well). Through a great use of animations and storytelling, the brand uses the well-known story of the tooth fairy and associates it with childhood memories. This healthcare video marketing campaign has proven to be an excellent vehicle for establishing a truly intimate relationship with the viewer (and, not surprisingly, the video has exceeded 1.3 million views on YouTube).
Another effective way to be direct and engaging is to use influencers in your healthcare video marketing campaigns. An exciting example is the Australian pole vaulter, Amanda Bisk, diagnosed with chronic fatigue syndrome. On her Instagram channel, Bisk talks about her path to fight the disease through fitness, and she has quickly become one of the most famous figures in Healthcare on the platform.
It’s important to note that today, more and more brands target top influencers and micro-influencers. Micro-influencers have a much smaller yet targeted and loyal following of fans. Therefore, their healthcare video marketing messages are perceived by the public as more authentic and personal.
94% of marketers believe that personalization is crucial for the future of the business in which it moves. But what do we mean when we talk about personalization?
First of all, it’s not something new: knowing your audience has always been the best way to make a profit, calibrate your communication and your “tone of voice,” and increase engagement and loyalty. But what is the turning point of personalization today?
It is a digital turning point. Today, we all leave traces online at every moment: geolocation, Google searches, preferences on social networks, apps (which in Healthcare are increasingly widespread), and so on. We are talking about a vast amount of data that benefits both companies and consumers from a win-win perspective.
Therefore, it’s a matter of utilizing efficient systems to collect this data, dynamic systems designed with an omnichannel approach in mind. From the collection, the next step is to analyze and interpret this information. Then, you will want to divide your audience into many micro-targets with homogeneous and consistent characteristics to target with tailored communications and offers.
In conclusion, these facts are all the more true in a sector like healthcare that impacts people’s daily lives. The best healthcare video marketing strategy for brands can only be to get closer and closer to customers. That is precisely where specialized companies like us, Media7, come into play. Through compelling B2B healthcare video marketing efforts, we create opportunities for interaction and the possibility to insert custom calls to action.
FREQUENTLY ASKED QUESTIONS
What is a video marketing strategy?
Video marketing strategy is creating, curating, and utilizing videos for marketing products and services of companies to the targeted audience. Marketing teams design the strategy. The idea behind the strategy is to keep the audience engaged with the brand.
Are videos effective for health tech marketing?
Videos are much effective for health tech marketing as people prefer to watch things than reading. Also, people are likely to trust what they see than reading. Videos are the highly impactful medium of marketing for any domain of business, including healthcare.
How to start with healthcare video marketing?
The first step to healthcare video marketing is to define your video marketing strategy. Fix and analyze the target audience to understand the online behavior trends to get an idea about their video engagements and clicks on various social media channels.