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5 Ways Technology is Transforming the Healthcare Industry

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5 Ways Technology is Transforming the Healthcare Industry

5 Ways Tech is Transforming the Healthcare Industry

Whether it’s information-sharing between patients and doctors or aiding in a high-risk surgery, it’s clear that dynamic applications of technology are well underway in disrupting the healthcare industry.

TECH AT OUR FINGERTIPS

Today’s infographic from the Online Medical Care highlights healthcare areas where tech is breaking barriers. Here are five ways that technology is impacting the sector, ranging from AI to nanomedicine:

Artificial Intelligence

Artificial intelligence will have a dramatic impact on many industries, and healthcare is no exception.

A large share of healthcare executives are already applying artificial intelligence in their operations, with data showing plans to increase budgets last year.

Healthcare uses of AIAdoption (2017)Adoption (2018E)
Clinical decision support46%59%
Population health33%46%
Disease management29%42%
Re-admissions33%41%
Medical costs / health plan21%38%
Patient safety and quality25%33%
Supply chain management13%21%
Cancer care4%12%

As the technology becomes more developed and widespread, it’s expected that AI could help diagnose strokes, eye disease, heart disease, skin cancer, and other conditions.

Virtual Healthcare

Also known as telehealth or telemedicine, virtual healthcare allows patients and doctors to touch base remotely using technology such as video conferencing or mobile apps. Many patients are also becoming comfortable using wearable technology to monitor any changes in their health – and sharing that data with their physicians.

Convenience, ease of use, and travel times to their closest doctor are main reasons why patients choose virtual care. On the flip side, many are concerned about the quality of care, or fear a loss of a personal connection with a doctor.

If all patients chose virtual healthcare over face-to-face visits, it could save the U.S. health system $7 billion annually – while the time savings would “free up” the equivalent of 37,000 doctors.

Nanomedicine

Nanomedicine is rapidly evolving field which controls individual atoms and molecules at the extremely minute “nanoscale” of 1 to 100 nanometers. To put that into perspective, a single newspaper sheet is about 100,000 nm thick.

Nanomedicine is mainly used to effectively diagnose, treat, and prevent various diseases. Compared to conventional medicines, it’s much better at precise targeting and delivery systems, paving the way towards combating complex conditions such as cancer.

The global nanomedicine market could be worth over $350 billion by 2025.

Virtual Reality

Although it’s normally been associated with entertainment, virtual reality is making waves in healthcare as well. The multi-sensory, immersive experience that VR provides can benefit both physicians and patients:

  • Healthcare worker training
    VR can be used to train surgeons in a realistic and low-risk simulated environment.
  • Physical and mental health
    VR offers therapeutic potential and rehabilitation for acute pain and anxiety disorders.

VR is thus considered a cost-effective and efficient tool for both teaching and treatment, and the VR healthcare services market is expected to grow from $8.9 million in 2017 to an expected $285 million in 2022.

3D Printing

3D printing has come a long way since its debut, especially in its uses in the healthcare industry. The technology offers faster prototypes, creating everything from personalized prosthetics to “poly-pills” at a fraction of the cost.

The customizable aspect of 3D printing is revolutionizing organ transplants and tissue repair, and it’s even able to produce realistic skin for burn victims.

Robot-Assisted Surgery

Last but certainly not least, robotic surgery is sweeping through hospitals. It allows doctors to perform delicate and complex procedures that might be otherwise impossible.

Typically, surgeons control a device with a camera and mechanical arms, giving them a high-def view of the surgical site. According to the Mayo Clinic, this method generally:

  • Enhances precision, flexibility, and control
  • Comes with fewer complications such as infections
  • Results in less obvious scars as it is minimally invasive

While technological adoption into the medical field doesn’t come without challenges, the value is clear – and we’ve barely scratched the surface of tech-driven possibilities in the healthcare industry.

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Healthcare

How Millennial Doctors Are Transforming Medicine

Today’s doctors are increasingly young and diverse, and skilled at using digital tools. How will they disrupt the healthcare landscape in years to come?

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How Millennial Doctors Are Transforming Medicine

Changing healthcare models, groundbreaking advancements in the health technology sector, and shifting standards of patient care—they’re all contributing to a new era of medicine. But arguably one of the biggest changes will be the faces that greet us at a clinic or hospital.

Today’s infographic from Publicis Health illustrates the emerging generation of millennial doctors, and why they’re on the cusp of transforming the healthcare industry.

The Changing Face of Medicine

The doctor is in, but it’s probably not who you’re thinking of. Most people expect to see an older white male as their healthcare provider, yet today’s physicians are straying from this stereotype:

  • Increasingly diverse
    44% of U.S. medical school graduates in 2018 were of a racial minority background.
  • Millennial women
    61% of physicians under the age of 35 are females.
  • Digital-focused
    They’re adept at practicing medicine with digital tools, like electronic health records and telemedicine.

These younger doctors face intense financial pressure from student loans as they enter the workforce—an average of $190,000 to be precise—and it’s part of the reason that they’re more likely than their Gen X and Boomer counterparts to take jobs in hospital networks.

Shifting practices are also altering interactions between these new doctors and their patients. As patients increasingly behave like consumers, they have to keep pace with their demands for shared decision-making and higher personalization.

  • Millennial doctors spend over 8 hours a day on screens: 5 hours using
    electronic health records, and 3 hours more consulting external search websites.
  • 37% of them also rely on social networks and message boards for work, compared to 25% of their peers aged 55 and above.

The silver lining? These new doctors are digital natives first, which means they’re comfortable using tools to help them practice medicine more efficiently than their predecessors.

Bridging the Gap for Millennial Doctors

The new profile of healthcare providers are seeing the lines between their work settings and everyday lives being increasingly blurred. When they don their “white coat” persona, millennial doctors are aware that they’re always under the microscope.

  • 77% of patients rely on online reviews before choosing a physician
  • 80% of consumers trust online reviews alongside personal recommendations
  • 60% of consumers read four or more reviews before deciding on a doctor

As consumers themselves, millennial physicians are also constantly bombarded with content. They’re active on social media during their “blue jeans” moments, allowing them to engage with patients even in their downtime. This entirely new environment propels their healthcare decision-making in radical ways.

Credible channels, actionable data dashboards, personalized communication, and patient-centric tools all contribute towards the industry’s attempts to bridge this gap for millennial doctors and their patients—to reach them at the right place, at the right time.

Navigating Transformative Forces in HealthcareHow Big Data Will Unlock the Potential of HealthcareHow Tech is Changing How Healthcare Must Communicate With PatientsThe Amazonification of HealthcareHow Artificial Intelligence is Transforming Clinical Trial RecruitmentPH6 - NotActivePH7 Active

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Chart of the Week

The 10 Breakthrough Technologies That Will Define 2019

Which innovations will dominate headlines in 2019? According to Bill Gates, watch for these 10 breakthrough technologies to change the world.

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The 10 Breakthrough Technologies That Will Define 2019

Gone are the days of turning stones into spears. With the advent of new technologies, we’ve learned to develop tools that not only make living faster and easier every day, but also improve the future of humanity as a whole.

Today’s Chart of the Week draws from the MIT Technology Review, which features Bill Gates’ predictions for the top 10 breakthrough inventions that will capture headlines in 2019.

Top 10 Breakthrough Technologies

1. Gut Probe in a Pill
These swallowable devices can detect and potentially prevent diseases that cause malnutrition and stunted growth in millions of children worldwide.

2. Custom Cancer Vaccines
Personalized cancer vaccines, targeting only the cancerous cells and leave healthy cells alone, could help ensure faster recovery times and pose fewer risks to patients.

3. Meat-free Burgers
Plant-based and lab-grown food products will ideally alleviate the environmental impact of the livestock industry.

4. Smooth-talking AI assistants
The AI assistants of the future will have even more human-like conversations to personally engage customers. Companies would see measurable benefits, with just one breakthrough here garnering a 5% jump in productivity.

5. Sanitation without sewers
Improperly drained sewage causes death in one out of every nine children. Sanitation that doesn’t require sewers would not only prevent exposure diseases but also help turn waste into useful products like fertilizer.

6. ECG on your wrist
While most medical ECGS have up to 12 nodes to detect abnormalities, today’s wearables typically have only one. An ECG on the wrist would help reduce the risk of heart disease by monitoring changes and patterns in daily life.

7. Robot Dexterity
Advancements in robotics will enable the natural dexterity required to complete a greater range of tasks, such as helping an ailing loved one out of bed, doing the laundry, or building toys.

8. Predicting Preemies
Premature births are the leading cause of death for children under five years old. Tests to detect the possibility of a premature birth could be available in doctors’ offices in as little as five years.

9. Carbon Dioxide Catcher
Carbon dioxide catchers filter out CO₂ from the air and capture it for other uses. These include synthetic fuel creation, CO₂ for soft drinks, and plant growth in greenhouses.

10. New-wave Nuclear Power
Traditional nuclear reactors produce ~1,000 megawatts (MW), while these proposed mini-reactors would produce tens of megawatts ─ making them safer, more stable, and more financially viable for potential users.

A Vision for a Better Future

The biggest takeaway?

Seven of the 10 breakthrough technologies stem from the healthtech sector.

While several inventions on this list are years away from becoming a reality, they continue to embody the vision and passion that humans share to create and explore.

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