How Technology is Transforming the Healthcare Industry – Part 2
The widespread availability and sophistication of personal technology is ushering in a new era of healthcare, fundamentally changing how and where medical decisions are made and how treatment is rendered through a combination of wearable healthcare technology, tele-medicine, home diagnosis and even popup retail settings.
Healthcare providers have recognised the importance of treating patients remotely. In the United States, in 2014, $2.3 billion was raised for digital health start-ups. And between 2011 and 2014 $1.9 billion in capital was raised for companies aiming to invest in predictive analytics.
These investments allow for a timelier administration and treatment for patients at their homes. This significantly reduces the cost of intervention, as well as improving the quality of care. Pilot programs are showing excellent results. With one program in the US reducing administration to hospital by 18% for its diabetic population who use remote monitoring and communication and their readmission rates have also dropped by 31%. All of which reduce costs to the test centre by 7%.
An alternative to hospital run healthcare program is the drive behind patients using wearable or personalised technology to receive a variety of readings, which they can directly compare to several benchmarks and decide whether to proceed to a healthcare professional. Other patients may instead decide to consult health social network to share information from their automated readings. They can consult a physician through Q&A sessions or even seek emotional support. Patients may also use apps to detect a correlation between their condition and medication interactions.
For more in depth testing, patients can also decide to use home personalised genomic services, blood and other bio-marking testing, environmental testing and even predictive bio simulation. For those who choose to consult a health care expert number of options my arise that redirect the patients away from the hospital. Retail outlets in common city centres and clinics in remote locations can receive patients, review their information and decide whether to continue further care by a physician. On call doctors are also readily available to answer questions and provide healthcare directives through video chat, email or mobile phones to patients anywhere.
Telemedicine has grown exponentially in the US. With more than half of hospitals and physicians’ groups currently providing such services. In 2017, it had been estimated that 142 million medical and health apps were going to be downloaded. Nevertheless, hospitals and healthcare professionals were and still are at the forefront of all treatment plans, especially in unique cases. Therefore, the new dynamic of doctor patient relationships requires new collaborations and business models and as well as a revised understanding of healthcare companies roll in the value chain.
The UK’s stance on Life Sciences
The UK has a world-leading life sciences industry which is both a magnet for investment and an engine for economic growth – enhancing productivity, driving healthcare innovation and employing over 220,000 people across the regions of the UK. In recent years, the NHS launched the NHS Digital Academy to fuse technology within the health service. By increasing the skills to align information technology with business and clinical needs, it will increase the chances of successful adoption of new information technology and its use to drive quality and efficiency.
At Cavendish Professionals we work with several innovative private healthcare clinics that are always improving with their technology to provide the best quality of service. To see your next opportunity and how you can get involved, click here.