Since the COVID-19 pandemic has hit us, there has been a great deal of awareness regarding the vitality of a proper healthcare infrastructure all over the world. Among the different industries, the healthcare industry is certainly the most focused. With time, the health of patients has improved, there is a dearth of operational inabilities, and infrastructure systems lead to complexities and confusion at each stage of the fight against COVID-19.
To conquer all these challenges, there has been a trend of intelligent automation in the healthcare industry. Would you like to know what intelligent automation is? Keep reading to know more about it.
Intelligent Automation – How is it utilized in the healthcare industry?
Considering the core aspects of healthcare like enterprise and support functions, an intelligent automation system is used. Here are a few ways in which companies are utilizing intelligent automation in healthcare.
- Making the process of revenue cycle management automatic.
- AI-driven continuous care to boost the health of patients.
- Enhanced collaboration of payer and care provider.
- Population health management through Data Sciences and IA.
- Telehealth and telemonitoring supported by artificial intelligence and IoT.
- AI-driven clinical augmentation.
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Are you all set to invest in a healthcare startup?
With the current growth in the healthcare space, there has been never a more exciting time than right now. There is already an explosion of social opportunities, content capabilities, and underpriced focus on so many platforms. Hence there’s a lot to be excited about!
What is Healthcare technology?
Any kind of IT software or tools or applications that can improve the productivity of hospitals and administration, offer new and valuable insights to treatments and medicines, and enhance the overall quality of health care offered to patients, is called health care technology. The current healthcare industry is a mammoth $2 trillion one that is lately being mowed down by red tape and crumbling roots. The industry is therefore desperately looking for ways to improve every possible area.
This is where healthcare technology comes in. In each step of this industry, there are tech-driven tools being included to resolve two main issues – poor efficiency and quality. Now, if you’re someone who is interested in investing in setting up a healthcare startup, you need to have a clear understanding of all the tech tools that can be invested in the welfare of your business.
The ever-evolving intelligent and automatic solutions resolve to improve the outcomes of patients and also their experience. Every new healthcare startup that is popping up is getting a chance to revolutionize this opportunity. So, in case you too think of jumping on to the bandwagon, you should learn the tricks of investing in the right tech equipment to create that much-desired difference.
Investment in tech for medical businesses – Is it necessary?
Thanks to the advancements in the field of medical tech that there is a rapid growth in the ability to store a massive amount of data and information of patients, boost access to care and improve the quality of care. Why should you invest in technology? Here are a few compelling reasons.
- Boost quality and efficiency of patient management service.
- Cut off health care costs and also the total number of workers.
- Develop new medication and more advanced treatment procedures.
- Aggravate the process of communication with other specialists.
- Offer required care anytime and anywhere.
- Faster and more accurate treatment as well as diagnosis of diseases.
- Anticipate health issues among patients and avert preventable situations.
Once you get all the above-listed benefits, you can thereby create a healthcare organization that is not only functional but also successful because it gives first priority to its patients. Your organization becomes more productive and competitive and also lets you make further changes in the world.
Tech tools to invest in if you’re ready with a healthcare startup
Keeping all the above-listed factors in mind, let’s delve deeper into the best tech tools to invest in if you’re starting with a new healthcare business.
1. Electronic Health Records
Electronic Health Records are often abbreviated as EHRs and they are digital health data records that improve the process of maintaining records of patients and reduce manual labor along with document management. EHRs can maintain records of medical history, dates of immunization, medications, and diagnoses, allergies, lab data and reports, personal wellness device records, documents of insurance, and demographic details.
The actual strength of HER lies in the total amount of information it can store and the extreme ease of sharing it whenever needed.
2. Interactive Personal Health Records
Now that you know what the EHR tool is, the interactive PHR is nothing but a patient-centric extension of the same. Families that have too many health problems usually have huge loads of paperwork. Thanks to this tech solution, that the entire process of managing and handling documents will become manageable and accessible.
The PHR will receive EHR data automatically through a web browser. Patients are also allowed to check appointments, results from labs, dates of immunization, and later on, share them with medical professionals. Information can also be entered into these records and this boosts communication within both parties.
3. Collection of data through blockchain
Thanks to the use of blockchain for cryptocurrencies, there is a lot of hype generated about the same. This automated record-keeping system can even be beneficial for handling sensitive data on medicine as well.
Blockchain has the power to arrange information in several layers and then share just the top one without any recognizable data with the third parties. It can also help in sharing historical data between organizations. There is an improvement in the confidentiality and transparency between doctors and patients.
While EHRs can improve sharing of information by default, blockchain facilitates the sharing of information with either a specialist or a new doctor. Moreover, data breaches are too common in the world of healthcare. Hence, blockchain is safer as it fights against security breaches and diminishes the chances of hacking.
4. Artificial Intelligence
Is there anything that is more exciting and intriguing than artificial intelligence? Considering the rapid growth and interesting opportunities surrounding AI, it is best to reap its benefit in the healthcare world. As per recent predictions, AI uses within the health care space is predicted to grow at a major pace, by 40% throughout 2021-22 to $6.8 billion, from $600 million in 2014!
Once you invest in various types of AI engines, it can reduce the risk of scary medical scenarios in 3 different ways:
- With the help of automatic reminders,patients can take medicines on time without a miss.
- AI can recognize high-risk patients and discover patients who are constantly in need of immediate medical attention.
- Based on the unique bodily requirements of each patient, AI can deliver customized dosage recommendations considering other environmental factors.
So, you should invest in AI and utilize the benefits of the concept if you’re setting up a healthcare startup in 2021. Once you do so, there’s no sign of slowing down!
5. Voice Search
With 1 in 6 Americans owning a voice speaker, voice search has become unbelievably popular all over the world. 40% of the adults in the US use voice search at least once a day and with such statistics, it is high time you focus on employing voice-enabled solutions for marketing your healthcare organization.
There’s no doubt when we say that voice search is one of the most effective marketing processes that has constantly been on the rise with the increased sale of smart speakers and smartphones. This trend started with Amazon Echo which first hit the stores in the year 2014.
As most Americans watch out for local healthcare options, marketers should optimize their online platforms for local searches. As 20% of Google searches are all voice searches, this has almost become one of the main tech opportunities to grab in 2021. In case 1 among 5 of your customers use voice search, you have to make sure you don’t miss out on the possible customers.
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6. Virtual Reality
Did you know that virtual reality is all set to become a $5 billion industry by 2022? With such predictions, there’s no reason why the healthcare industry shouldn’t jump in to take immediate action. With the help of VR, you cannot just offer an immersive experience to the patients but also help them cope with the struggles of surgery and pain.
If you wish to generate maximum engagement through the latest tech, virtual reality is the best as the impact created will be highly beneficial for your business. As we know that customers usually remain too anxious in the health care industry, Virtual Reality helps in relaxing the nerves of the anxious patients and enhances their overall experience. There are endless possibilities with this piece of breakthrough technology.
So, there’s a lot to be excited about as long as health care and technology are concerned. Utilize the above-listed tech solutions to improve your business ROI.
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