Intersection of Healthcare and Technology
A growing interest in digitalization did not bypass the Healthcare industry. According to McKinsey, technology-oriented solutions can improve the mutual understanding of patients, provide more convenient, customized care, and create $350 billion–$410 billion in annual value by 2025.
Today, we may witness significant progress not only in keeping medical records but also in a well-tailored approach to diagnostics and a combination of traditional and alternative ways of treatment. To understand how HealthTech reshapes patients' experiences, it is high time to ascertain the pivotal features of industry conversion.
Signs of the Healthcare Industry Transformation
Within several decades, the changes in HealthСare are visible to the naked eye. Suppose every patient experiences the implementation of revolutionary diagnostics and treatment options and technologies. It is possible to describe the progress with such accurate adjectives as integration, growth, and evolution, giving us a clear image of methods, aims, and results.
The factors that drive the industry to technological progress and transformation and contribute to positive patient experience are summarized down the line.
- Healthcare Digitization. The adoption and popularity of such IT technologies in the HealthTech industry, like telemedicine, health-oriented applications, wearable devices, and electronic health records, contributed to medical assistance availability, distant health state monitoring, and covering more vulnerable categories of patients. According to The American Journal of Managed Care, 59 % of medical personnel and 62.6% of patients state that they do not feel a significant difference between physical and virtual clinic visits.
- Patient-Oriented Approach. There is a world tendency toward patient-centered care. It combines patient involvement in decision-making, consideration of needs and preferences, and ensuring a well-rounded approach to providing healthcare. EHR (electronic health records) allows patients to control the quality of medical services and monitor and analyze the treatment results.
- Data Analytics and Artificial Intelligence (AI). The healthcare industry is leveraging data analytics and AI to derive insights from large volumes of healthcare data. It enables more accurate diagnoses, personalized treatment plans, predictive analytics for disease prevention, and improved operational efficiency. According to Acumen Research & Consulting, the AI market in 2025 is predicted to attain USD 190.6 billion.
- Value-Oriented Care. The essence of the value-based healthcare model is transitioning from costless services to provider reimbursement for high-quality help. Value-based care focuses on outcomes and quality of care rather than the service volume. It encourages collaboration, care coordination, and preventive measures to improve patient outcomes and minimize costs.
- Focus on Publick Health. Healthcare systems promptly shift from individual patient care to population health management. It involves addressing the health needs of specific populations, implementing preventive measures, and managing chronic diseases more efficiently.
- Health Information Exchange. Efforts are being made to improve interoperability and health information exchange among healthcare systems, providers, and patients. Seamless data sharing enables better care coordination, reduces duplication misunderstandings, and enhances patient safety and care length.
- Embracing Precision Medicine. An accurate approach to medicine tailors treatments to individual patients, analyzing their genetic, lifestyle, and environmental factors. It allows for more personalized and targeted therapies, improving treatment outcomes and reducing adverse effects.
- Accent on Health. The healthcare industry admits the importance of addressing health peculiarities and promoting health equity. Efforts are being made to ensure equitable access to healthcare services, reduce differences in healthcare outcomes, and consider social determinants of health.
It is challenging to predict the future of the Healthcare industry. Still, today, it is evident that the recent pandemic situation worldwide gave a push to remote consultations, distant check-ups, and diagnostics. Unsurprisingly, robotics and other automated tools that have gained popularity will revolutionize neurosurgery and other precise surgeries. Not the last place is taken by virtual reality that may replace a session with a psychotherapist.
To sum up, it is worth saying that digital solutions and healthcare technologies are aimed not only to simplify the work of medical personnel but also to contribute to more effective, accessible, and customized care.
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