Digital transformation in healthcare: Trends and Technologies for 2023
Digital transformation in healthcare: Trends and Technologies for 2023
Digital transformation trends in healthcare refers to a collection of the most recent developments and innovations in digital technologies that hold the potential to improve healthcare operations dramatically.
The backbone of this transition is the use of sophisticated technologies such as AI, ML, IoT, and other cloud technologies.
Telemedicine, artificial intelligence (AI)-enabled medical devices, and blockchain electronic health records are just a few concrete examples of digital transformation trends in healthcare that are completely reshaping how we interact with health professionals, how our data is shared among providers, and how decisions are made about our treatment plans and health outcomes.
Innovation is the name of the game here, with the main goal of streamlining physicians’ work, optimizing systems, improving patient outcomes, reducing human error, and lowering costs through amazing web and mobile experiences.
Unfortunately, the healthcare and pharmaceutical industries have lagged behind when it comes to implementing digital strategies. If you haven’t capitalized on the healthcare technology revolution, it is high time you do so.
However, before you set out to transform your medical practice into a thriving digital phenomenon in 2023, you need to acquaint yourself with the modern healthcare landscape.
Top 5 Digital Transformation Trends in Healthcare Industry
Here are some futuristic trends shaping digital transformation in the healthcare industry
Telemedicine is the use of digital technologies that enable medical practitioners to remotely inspect, diagnose, prescribe, and treat the patient.
It is one of the fastest developing healthcare industry trends worldwide. Telemedicine companies create custom software that allows doctors and patients to communicate in real-time.
The software facilitates video conferences, where the patient and doctor can not only see and talk to each other, but also share text and graphic data such as test reports, X-rays, and scan reports.
To put it simply, telemedicine offers patients remote access to different types of medical services, saving them valuable time and money in the process. It improves convenience and enhances access to a wide variety of medical specialists.
2. Remote Patient Monitoring
Remote Patient Monitoring is a part of telehealth that includes healthcare practices relying on devices such as blood pressure cuffs, implantables, and sensors.
From smart bands that can monitor your sugar level to tracking blood pressure and other vitals, remote monitoring health apps can do it all in no time.
These devices collect patients’ data through passive means. RPM is used to monitor patients who have been discharged from the hospitals but need to visit the hospitals for their routine checkups.
RPM technology helps healthcare professionals to identify and analyze the patients’ data collected from the devices and make informed decisions based on the analytics.
Moreover, this tech solution helps healthcare institutions cut down on time and costs and deliver high-quality healthcare without physical intervention.
3. Artificial Intelligence
Artificial intelligence (AI) is more than just a digital transformation trend in healthcare. AI represents the epitome of medical innovation and industry players are eager to invest millions in it.
The healthcare AI-powered tools market is expected to exceed $34 billion by 2025, which means this technology will shape almost all facets of the industry.
One mindboggling application of AI in healthcare is hospital droids, which are designed to assist human nurses with routine tasks such as fetching and restocking supplies.
Chatbots and virtual health assistants are another AI-based technology that patients are becoming familiar with. Chatbots can fill a multitude of roles from customer service representatives to diagnostic tools and even therapists.
But the real power of AI can be best observed in areas like precision medicine, medical imaging, drug discovery, and genomics. For instance, cancer patients used to receive cookie-cutter treatments with high failure rates.
Now, thanks to AI’s sophisticated pattern recognition, these patients have access to personalized therapies tailored to their genetic makeup and lifestyle.
What AI-powered computer programs do for oncology, in a nutshell, is analyze thousands of pathology images of various cancers to provide highly accurate diagnoses and predict the best possible anti-cancer drug combinations.
What’s more, top pharmaceutical and biotechnology companies are using machine learning algorithms to shorten the drug development cycle.
Overall, AI is predicted to bring $150 billion dollars in annual savings for the US healthcare economy by 2026.
These numbers alone should be enough to convince any CEO looking to usher their health organization into reaching digital maturity that AI is worth the investment.
SEE ALSO: Digital Transformation in Healthcare Benefits for 2022
Blockchain has recently developed a bad reputation due to the burst of the cryptocurrency bubble. Now, the average person thinks of blockchain as of this vague, puzzling concept that doesn’t have much of an impact on their life. In reality, this technology will soon play an instrumental role in keeping their electronic health records accurate and safe.
Blockchain is a digital ledger or a computerized database of transactions. Shared across a network of computers, it allows customers to safely exchange financial information with suppliers, without the need of a third party such as a bank.
The healthcare and pharmaceutical industries are already vouching for its efficiency by investing millions in this market. According to a recent report, blockchain in healthcare market is expected to reach $890.5 million by 2023.
In healthcare, blockchain is proven to be an effective tool in preventing data breaches, improving the accuracy of medical records, and cutting costs.
Some countries like Australia and UK have started to experiment with blockchain technology to manage medical records and transactions among patients, healthcare providers, and insurance companies.
Thanks to a decentralised network of computers that handle the blockchain and simultaneously register every transaction, conflicting information is automatically detected. Records are not only 100% accurate, but also harder to hack.
5. Big Data
Big data can be leveraged in a multitude of ways in healthcare: it can be used to stop epidemics, help create detailed personal records for patients, and collect family medical history for predictive analysis.
It can also reduce medical costs for both patients and healthcare institutions, cure chronic diseases and serve as a means of preventive medicine.
Adding business intelligence to healthcare can help drive financial growth and provide physicians and patients with more advanced health options.
Healthcare organizations may utilize analytics to cut expenses across the board, identify areas for savings or investment more easily, and develop a better understanding of their finances.
Predictive analytics can help clinicians detect patient deterioration based on a larger set of health data than humans can’t process.
It could also be used to forecast patient behavior patterns, suggest new treatment options for illnesses, and identify which areas of the facility require improvement or investment.
In a Nutshell
Digital transformation offers a promising future for the healthcare industry. It can help create personalized healthcare ecosystems that transform the lives of patients and streamline the jobs of healthcare providers.
If you’re looking to partner with a world-class digital transformation company look no further! Hakuna Matata’s team of DX consultants specialize in delivering highly competent solutions to clients’ challenges at unprecedented scale and speed.
Having worked with top names like Caterpillar, Vanguard, Saint-Gobain, Sicagen, TVS, L&T, Maersk and so on, we have a track record in creating products that delight customers.
Schedule a free consultation and talk to our experts today! Find out more about how we can drive growth for your business.