5 healthcare technology transformation trends to watch out for in 2017

5 healthcare technology transformation trends to watch out for in 2017

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  5 Healthcare TechnologyTransformation trends to watch out for in 2017 RAHUL GUPTA linkedin.com/in/rahul-gupta79/ twitter.com/rahulgupta79
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  McKinsey’s recent reportsindicate that 50% of the strategic technology budgets in Healthcare Industry for next 5 years will be for digital transformation initiatives “
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  Key Challenges facedby Healthcare Industry Rising US Healthcare Costs • 2015 - $3.2 Trillion, 17.8% of GDP. • 2025 - 19.9% of the GDP • Company or Govt. sponsored healthcare spurring demand • Rising incidence of preventable lifestyle diseases Ageing US Demographics • 65+ population, projected at 88M by 2050 from current 48M • Advancements in medicine leading to high life expectancies • More Lifestyle/ Degenerative diseases Rising Patient expectations • SMAC in day to day lives has fuelled similar expectations from Healthcare • Seek recommendations on social media and provider reviews • Mobile enabled, on-demand services - ‘Retailization’ of Healthcare Security, privacy & compliance • Ransomware attacks on HC Organizations to double by 2018 • Govt. regulations, sensitive patient records and mandatory security requirements. 👨👩
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  Technology Trends toWatch out For in 2017 0301 02 04 05M-Health Telemedicine and Remote Health monitoring Wearables powered by IoT Robotics & Artificial body parts . Artificial Intelligence
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  M-Health » By 2018,65% provider interactions to happen through mobile devices » > 80% doctors use medical app & explore drug info » 24 x 7 access to EMR/ EHR in cloud » Innovative m-Health solutions ⋄ “Pager” - Professionals seek doctor visit at office ⋄ “RetraceHealth” - Consult a practitioner over video call ⋄ “Honor” aggregates caregivers for seniors “ By 2020, global m-health market will reach $ 46B, making it the fastest growing segment of the digital healthcare market
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  Telemedicine & Remote HealthMonitoring “ Global market of telemedicine will grow from $14.3 billion in 2015 to more than $36 billion by 2020 » Reduce pressure on the current healthcare systems & drive down the healthcare costs significantly » Affordable and quality treatment from miles away for remote/poor communities » Technology to monitor health of the patients remotely & enhance adherence to treatment especially in case of chronic ailments like diabetes
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  Wearables powered by Internetof Things “ By 2020, Health Plan Adjustments will happen real time with Artificial Intelligence using data from Wearables, resulting in 20% More Patients Being Engaged in Their Health » Wearable connected devices monitor/collect vital stats, transmit to payers and providers in real-time. » Life saver - Predicting risk for sudden illnesses » Promote healthier lifestyle, provide tailored plans » Vast data captured to aid in clinical research » Devices the size of a credit card for ECGs, Ultrasounds and D-I-Y diagnostic tests etc.
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  Artificial Intelligence “ Artificial intelligencediagnoses better than physicians, reducing the costs by more than 50% & free up 30% of clinician’s time » Accurate diagnosis using AI by interpreting EHR/ EMR, X-rays, Prescriptions, Call records etc. using NLP & deep learning » Ensure correct medical codes for reimbursements. » Collation of medical history at organization, demographics, region, culture or country level to automatically predict risk factors, healthcare trends and outbreaks etc.
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  Robotics/ Artificial Body Parts “ By2019 there will be a 50% rise in the use of robotics in surgeries & to deliver medications, food & supplies in the hospitals » Specialist highly precise surgeries from miles away » Highlight blood vessels in on-screen video » Critical info, analysis of patient’s history on screen » Brain-controlled prosthetic limbs » 3D printed bone, implants, tissue and muscles » Genomics and DNA sequencing for custom-made body parts and artificial organs
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  Digital Healthcare TrendsHype Cycle “ Currently 10% of healthcare payers/providers are executing healthcare digital transformation. By 2018, 42% providers & 58% payers will be deploying digital transformation Artificial Intelligence IoT powered Wearables Robotics/ Bionic limbs m-Health Visibility>> Maturity >> 3D-Bioprinting Telemedicine/ Remote Monitor » Most of the trends are in early stages of Technology adoption » m-Health has matured as a concept, innovation continues » Focus has clearly shifted to Patient needs rather than payer/provider efficiencies
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  References - cms.gov;mckinsey.com/industries/healthcare-systems-and-services; betterworkingworld.ey.com; forbes.com; nanalyze.com; medicalfutureslab.org; i-scoop.eu/digital- transformation/healthcare-industry/ ; idc.com; transparencymarketresearch.com; nia.nih.gov Picture Credits - lakeforestmba.edu; amdtelemedicine.com; cisco.com; itmsc.cn; healthtechviews.6revs.com ;obssr.od.nih.gov; theguardian.com; riteaid.com; buyourobot.com; betterworkingworld.ey.com; eurotech-universities.eu RAHUL GUPTA linkedin.com/in/rahul-gupta79/ twitter.com/rahulgupta79