Infographic: Digital Enablement in Healthcare

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Technological advancements are the key drivers powering the growth of the digital healthcare market which, according to the latest research (Grand View Research, “Digital Healthcare Market”, May 2019), is forecasted to expand at a CAGR of 27.7% by 2025. By embracing innovative technologies, the healthcare industry is enabled to deliver better patient health outcomes, while being time-efficient and reducing operational costs in the process.

Emerging technologies such as telemedicine, artificial intelligence (AI), big data and the Internet of Medical Things (IoMT) are bringing more business value to the healthcare sector. These benefits are translated into practical applications that aim for higher efficiency in providing digital healthcare services to patients worldwide.

We invite you to explore our dedicated infographic to discover the latest tech trends that are driving innovation in today’s digital healthcare market.

 

Infographic: Digital Enablement in Healthcare

 

While we appreciate that letting go of outdated legacy platforms requires a flexible and risk-taking mindset, this is one of the main setbacks that should be overcome to ensure the successful digitization of the healthcare sector.

It is equally important to ensure the protection of the patients’ personal data, which in this new and increasingly digital landscape requires enhanced cybersecurity safety and data protection measures.

Conclusions

Streamlining medical procedures is a necessity in an increasingly digitized world, and especially in the current critical landscape driven by the negative impact of COVID-19, where time is of the essence. Live video consultations, remote medication management, patient portals, electronic healthcare records or virtual healthcare assistants are only a few of the digital applications that are dramatically changing the healthcare industry.

 

 

At Softelligence, we adopt a growth-driven digital approach powered by our engineering teams to provide scalable innovative solutions, and domain knowledge across key verticals. If you need a partner to translate your specific healthcare business needs into personalized digital solutions, get in touch with us and our consultants will be happy to share their insights and expertise with you.

 

Please find the infographic transcript below.

 

Digital healthcare market review – what should you know?

 

Healthcare data is expected to reach a CAGR of over 36% through 2025

 

More than 80% of people are willing to use medical wearable tech

 

By 2023, the global medical market of…

 

By 2025, the global healthcare market of…

 

…medical robotics market is expected to reach $20 billion.…digital health market size is expected to reach $509.2 billion
…healthcare chatbots market is projected to reach $314.3 million.…virtual reality and augmented reality healthcare market is projected to reach $5.1 billion.
…medical wearable devices market is expected to reach more than $27 million.…IoT healthcare market is expected to reach $534.3 billion.
…blockchain healthcare market is forecasted to reach $890.5 million.…healthcare AI-powered tools market is expected to exceed $34 billion.

What is the current adoption rate of digital health tools?

 

32% – Live video telemedicine33% – Wearable ownership42% – Digital health tracking64% – Online provider reviews

Impact of the current COVID-19 landscape on digital healthcare

 

IoT-powered platforms allow public-health agencies to access real-time data to monitor the current situation.Big data modelling studies of viral activity  guide countries’ healthcare policymakersAI and deep learning are used to enhance the detection and diagnosis of patients while predicting the evolution of the outbreak
 

Some health systems have seen an increase in the number of televisits by up to 500%

 

What are the key drivers for digital transformation in healthcare?

 

Growing need to facilitate predictive and preventive care

 

Increased consumer requests for on-demand healthcare

 

Up to 28% visits to emergency rooms are recurring patients who could benefit more from receiving personalized preventive care plans at home
76% of patients research online health information for 3 main reasons:
  • 77% of book medical appointments
  • 47% of research doctors
  • 38% of a research hospital and medical facilities

BUT don’t overlook the importance of setting in place governance rules for education and medical certification

 

Ensure legal chains of evidenceFinancial data auditingTrack inventory of high-value items such as food and medical supplies

Digital healthcare translated into practical applications

 

Tech trend

 

Use cases

 

Benefits

 

Telemedicine
  • Remote medication management
  • Live video consultation
  • Real-time monitoring of patients
  • Improved communication between doctors and patients
Artificial Intelligence
  • Medical imaging analysis
  • Virtual healthcare assistants
  • Voice-to-text transcriptions
  • Enhanced efficiencies of X-rays and MRIs with accurate image analysis capabilities
  • Personalized treatment for patients based on their medical history
Big Data Insights
  • Electronic health records
  • Preventing unnecessary emergency room visits
  • Real-time alerts for patients with complex medical histories
  • Lower rate of medication errors
  • More accurate treatment plans using predictive analytics
  • Better management of patient emergencies
Internet of Medical Things (IoMT)
  • Heart rate sensors
  • Exercise trackers
  • Pulse oximeters
  • Up-to-date monitoring of high-risk patients
  • Lower insurance premiums
  • Possibility for patients to send wearable stats directly to the doctor for consultation

Softelligence Insights on digital healthcare applications

 

We think that the current landscape will power the rise of:

 

  • Web 3.0 technologies

Including, but not limited to de-centralized applications, smart contracts, digital identifiers

  • Interconnected platforms

Enable direct, near-real-time data exchange between patients, physicians, insurance companies, brokers, therapists, psychologists, schools

  • Patient portals and family accounts

With patient’s consent, close family members or legal guardians may be able to remotely monitor the health of patients, receive alerts, and access electronic medical records

  • Digital medical reporting

More electronic infrastructure and new digital platforms will be developed to boost medical reporting, exchange data, compare treatments, some with automatic triggers (e.g. to public health authorities)

  • Location services

51% of tech specialists warn against adopting digital surveillance methods in connection with Coronavirus tracking, due to privacy risks.

  • AI-enabled second-opinion platforms

Powerful knowledge platforms, such as the IBM Watson Health, will be used more, to augment human expertise and build smarter health ecosystems, based on rich historical data and possible treatments

Top challenges to digitization in healthcare

 

  • Outdated legacy platforms and lack of modern equipment in hospitals and clinics around the world
  • Cybersecurity and personal data protection concerns
  • Increased burden on hospitals due to high demand for detailed reporting enabled only by analogue means
  • Cost and complexity of new technologies
  • Cost and complexity of new technologies
  • Risk of “digital biases” when using  algorithms to generate medical prescriptions or provide smart diagnosis

 

Sources:

  • https://www.grandviewresearch.com/press-release/global-digital-health-market
  • https://www2.deloitte.com/global/en/pages/life-sciences-and-healthcare/articles/global-health-care-sector-outlook.html
  • https://rockhealth.com/reports/digital-health-consumer-adoption-report-2019/
  • https://www.syberscribe.com.au/blog/10-emerging-trends-healthcare-technology-2019-beyond/
  • https://www.forbes.com/sites/bernardmarr/2019/11/01/the-9-biggest-technology-trends-that-will-transform-medicine-and-healthcare-in-2020/#331d8ab972c
  • https://www.digitalauthority.me/resources/state-of-digital-transformation-healthcare/
  • https://www.mobifilia.com/10-healthcare-tech-trends-2020/
  • https://www.washingtonpost.com/gdpr-consent/?next_url=https%3a%2f%2fwww.washingtonpost.com%2fnews%2fpowerpost%2fpaloma%2fthe-technology-202%2f2020%2f03%2f30%2fthe-technology-202-we-asked-more-than-100-tech-experts-if-u-s-should-use-location-data-to-track-coronavirus-they-were-split%2f5e80c80b602ff10d49ad757e%2f
  • https://appify.digital/digital-transformation-in-healthcare-2020/
  • https://www.ibm.com/watson-health/about
  • https://www.selecthub.com/medical-software/top-health-it-security-trends/

 

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