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Impact of Wearable Devices on Healthcare Industry
- 1. Information Systems Management Disruptive Technology Analysis: Impact Of Wearables on Healthcare Industry Group B – IE Knights 08th Feb 2015
- 2. WHAT IS DISRUPTIVE TECHNOLOGY? Many practices have been rendered primitive and obsolete due to innovative technologies that both shook up and destabilised what was the norm of the time. Think about the following… – Email and its impact on the Postal Industry – Electronic gadgets and the impact on Print Media Disruptive technologies are transformative advances that will not only change life as we know it but global economies!
- 4. "THE FIRST PERSON TO LIVE TO 200 HAS ALREADY BEEN BORN..." Thanks to disruptive technologies, we could bid the term ‘life is short’ farewell AND HERE HE IS...
- 5. Youssef of The Future YEAR 2016….
- 6. WEARABLE TRACKERS AS A DISRUPTIVE TECHNOLOGY: MOVING FROM TREATING THE DISEASE TO PREVENTING IT Until now, when one falls ill, the process is typically as follows: 1. Go see a doctor 2. Describe your symptoms 3. Doctor diagnoses the illness 4. A prescription is issued 5. Go to the pharmacy Youssef in 2013 This process typically… • Takes a minimum of 2 hours • Involves at least 5x human contact interaction (Doctor’s reception, Doctor, Nurse, Pharmacist & Cashier) • Is reactive in nature, i.e. you get sick and then seek treatment
- 7. Meet NEW Youssef of 2016…. Imagine a world where… A pre-alert system lets you know at the cusp of falling ill and Provides instantaneous diagnoses All this is possible, not just in the future but NOW. This is the reality of wearable trackers, with early warning diagnostics that aid medical practitioners to treat the cause and eventually preventing future diseases.
- 8. WHAT ARE YOUSSEF’S SECRET WEAPONS? • The Jawbone UP24 • Garmin Vivosmart • The Microsoft Band • Apple Watch • Google glass • Fit Bit • Even his TAG Hauer measures blood pressure
- 9. HOW THESE NEW TECHNOLOGIES AFFECT YOUSSEF’S DOCTOR? ZZZZZZ… • Doctors can monitor patients remotely and to collect vast amounts of data on the effectiveness of treatments • Medical costs decrease while condition of the patients improved • Unique tailor made healthcare care plans for patients • Healthcare industry invests heavily in big data and predictive analytics technologies, enabling more efficient ways of medical care. • Emergence of new type of healthcare professional combining skills of both medical and IT expert
- 10. CONCLUSION: MAPPING THE FUTURE OPPORTUNITIES Our top picks on trends and economic opportunities this area will further unlock… 1. Info management: The rapid expansion and popularization of mobile tracking devices presents huge opportunities for analysis and management of available data. 2. The iMed practitioner: Advent of multi skilled health practitioners with IT a core mandatory to health practices. Could IT be a core module in Medical schools?! 3. The role of Big Data: Search programs with powerful algorithms can find patterns and solve problems by themselves, spotting symptoms that could give early signs of specific diseases. The investment in this area should expand enormously. This moment of history is unique, it’s clear that we are living in an extraordinary moment where sensors combined with big data and wearable devices are making it impossible to not reimagine healthcare, and the opportunities ahead us are enormous.