The Amazonification of Healthcare
The digital age is no longer about just the product – it’s equally about the customer experience.
In turn, businesses are competing on their ability to deliver quantifiable results to empowered consumers, who are:
Naturally, empowered consumers have high expectations of the services and brands they choose to integrate into their lives – and Amazon’s buying experience, which is ultra-fast, convenient, innovative, and driven by user reviews, is the perfect example of this trend in action.
This “Amazonification effect” is transforming every industry from retail to finance – and the healthcare industry is now set to change forever for both consumers and businesses.
Dreams of Amazonification
Today’s infographic comes to us from Publicis Health, and it shows the shift occurring in the healthcare space to a new outcome-based economy that is powered by an increasingly digital and data-driven experience.
It’s also led by the millennial generation, a group that is seeing buying power finally line up with their influence. These digital natives see no reason for the healthcare experience to be stuck in its old ways – they demand a fast, digital, convenient, and quantified version of healthcare along with ongoing relationships.
The ideal healthcare experience for this group looks something like this:
59% of U.S. healthcare consumers want their digital healthcare experience to mirror retail.
74% of millennial patients value the ability to book appointments and pay bills online.
48% of healthcare consumers want to partner with their healthcare providers for personalized treatment.
Treating patients more like retail consumers will be a paradigm shift for healthcare – and it will require companies to invest in areas like big data to complete the patient experience.
An Ongoing Relationship
The patient-healthcare provider relationship is ever-changing.
As consumer demands grow, there is also an increased pressure on healthcare providers and pharma businesses to deliver. Patients no longer accept being told what they need, instead wanting to take more control of their health.
A more connected relationship with their healthcare provider can help achieve this goal. It’s made up of four components:
- Identify patient needs
- Uncover evolving needs by employing self-reporting to understand patterns of change
- Meet patient needs by enabling connected services for predictive interventions
- Match real life experience to treatment decisions, by using data to get a 360-degree of the patient
This can lead not only to a better patient care experience, but also better outcomes.
The Supportive Care Trifecta
An effective supportive care platform simplifies the many moving pieces that must come together in the patient care process. It leverages the following trifecta:
1. Service design
Connects services and workflows for optimal end-to-end experience, while also giving patients with the resources to engage with their own healthcare.
2. Technology activation
Backbone for delivering patient care to each stakeholder that is supported by artificial intelligence (AI) technology for a seamless experience.
3. Data intelligence
Right dashboards contribute to unearth analytic insights, revealing unique patient stories for strategic, tailored treatment.
Connecting humans with health systems, a supportive care platform links all players and workflows involved. The result? Quantifiable outcomes, and a clear return on investment.
Adopting big data in healthcare can yield:
- 20%-30% in cost savings
- 35% rise in patient access
- 20% improvement in outcomes
- 30% growth in revenue
Why it Matters
The supportive care platform drives business value by aligning collective commitments of key players in the healthcare industry.
|Patient||- Improved awareness|
- Better engagement
- Personalized experience
|- Increased survival rates
- Better quality of life
|Healthcare providers||- Better delivery|
- Improved efficiency
- Improved efficacy
|- Reduced hospitalization rates
- More efficient, successful treatment
- Increased use of resources
|Pharma||- Leading customer and patient insight|
- Improved customer and patient credibility
|- Improved adherence
- Detailed understanding of patients
The evolving needs of healthcare consumers call for building long-term relationships between patients and healthcare providers.
With the disruptive solution of an intelligence-powered care system, pharma companies can further these ongoing relationships and advance both patient and business outcomes.
This is part four of a seven part series. Stay tuned by subscribing to Visual Capitalist for free, as we go into these six forces in more detail in the future.
Every Vaccine and Treatment in Development for COVID-19, So Far
As the number of confirmed COVID-19 cases continues to skyrocket, healthcare researchers around the world are working to defeat the virus.
Every Vaccine and Treatment in Development for COVID-19
As the number of confirmed COVID-19 cases continues to skyrocket, healthcare researchers around the world are working tirelessly to discover new life-saving medical innovations.
The projects these companies are working on can be organized into three distinct groups:
- Diagnostics: Quickly and effectively detecting the disease in the first place
- Treatments: Alleviating symptoms so people who have disease experience milder symptoms, and lowering the overall mortality rate
- Vaccines: Preventing transmission by making the population immune to COVID-19
Today’s graphics provide an in-depth look at who’s in the innovation race to defeat the virus, and they come to us courtesy of Artis Ventures, a venture capital firm focused on life sciences and tech investments.
Editor’s note: R&D is moving fast on COVID-19, and the situation is quite fluid. While today’s post is believed to be an accurate snapshot of all innovations and developments listed by WHO and FDA as of March 30, 2020, it is possible that more data will become available.
Knowledge is Power
Testing rates during this pandemic have been a point of contention. Without widespread testing, it has been tough to accurately track the spread of the virus, as well as pin down important metrics such as infectiousness and mortality rates. Inexpensive test kits that offer quick results will be key to curbing the outbreak.
Here are the companies and institutions developing new tests for COVID-19:
The ultimate aim of companies like Abbott and BioFire Defense is to create a test that can produce accurate results in as little as a few minutes.
In the Trenches With Coronavirus
While the majority of people infected with COVID-19 only experience minor symptoms, the disease can cause severe issues in some cases – even resulting in death. Most of the forms of treatment being pursued fall into one of two categories:
- Treating respiratory symptoms – especially the inflammation that occurs in severe cases
- Antiviral growth – essentially stopping viruses from multiplying inside the human body
Here are the companies and institutions developing new treatment options for COVID-19:
A wide range of players are in the race to develop treatments related to COVID-19. Pharma and healthcare companies are in the mix, as well as universities and institutes.
One surprising name on the list is Fujifilm. The Japanese company’s stock recently shot up on the news that Avigan, a decades-old flu drug developed through Fujifilm’s healthcare subsidiary, might be effective at helping coronavirus patients recover. The Japanese government’s stockpile of the drug is reportedly enough to treat two million people.
The progress that is perhaps being watched the closest by the general public is the development of a COVID-19 vaccine.
Creating a safe vaccine for a new illness is no easy feat. Thankfully, rapid progress is being made for a variety of reasons, including China’s efforts to sequence the genetic material of Sars-CoV-2 and to share that information with research groups around the world.
Another factor contributing to the unprecedented speed of development is the fact that coronaviruses were already on the radar of health science researchers. Both SARS and MERS were caused by coronaviruses, and even though vaccines were shelved once those outbreaks were contained, learnings can still be applied to defeating COVID-19.
One of the most promising leads on a COVID-19 vaccine is mRNA-1273. This vaccine, developed by Moderna Therapeutics, is being developed with extreme urgency, skipping straight into human trials before it was even tested in animals. If all goes well with the trials currently underway in Washington State, the company hopes to have an early version of the vaccine ready by fall 2020. The earliest versions of the vaccine would be made available to at-risk groups such as healthcare workers.
Further down the pipeline are 15 types of subunit vaccines. This method of vaccination uses a fragment of a pathogen, typically a surface protein, to trigger an immune response, teaching the body’s immune system how to fight off the disease without actually introducing live pathogens.
No Clear Finish Line
Unfortunately, there is no silver bullet for solving this pandemic.
A likely scenario is that teams of researchers around the world will come up with solutions that will incrementally help stop the spread of the virus, mitigate symptoms for those infected, and help lower the overall death toll. As well, early solutions rushed to market will need to be refined over the coming months.
We can only hope that the hard lessons learned from fighting COVID-19 will help stop a future outbreak in its tracks before it becomes a pandemic. For now, those of us on the sideline can only do our best to flatten the curve.
The 7 Best COVID-19 Resources We’ve Discovered So Far
With so much misinformation spreading on the pandemic, we’ve compiled a quality list of data-driven and unbiased COVID-19 resources for you to use.
With all eyes on the COVID-19 pandemic and how its impact will be felt over the coming weeks and months, people are being bombarded with all kinds of noise and speculation.
Between a deadly virus, looming economic effects, and numerous government shutdowns, it’s clear that a fertile breeding ground has been created for misinformation, rumors, conspiracy theories, hot takes, and other potentially misleading content.
7 Indispensable COVID-19 Resources
At Visual Capitalist, it’s our goal to use data-driven visuals to explain the world around us.
In the last week alone, we’ve had more than 10 million people visit our site — many of them trying to understand more about COVID-19 and its effects on the economy and society.
With that in mind, we thought we’d curate a list of quality information on the virus and its impact. These COVID-19 resources are all from fact-driven, reliable sources, with some of them even being created by our in-house team and shared to our free daily mailing list.
On the below list, we start with the more contextual resources (understanding how the virus works, pandemic history, etc.) and then progress to real-time dashboards and up-to-date data.
Click any image below to see the full resource or dashboard. Many are updated daily or in real-time.
1. How Coronaviruses Work
What is a coronavirus, and how does COVID-19 fit into the mix?
This educational scrolling infographic by SCMP walks you through some of the more familiar types of coronaviruses, how they spread, and how they affect the human body.
It also relates COVID-19 to other coronaviruses that cause diseases such as Mers, Sars, and even the common cold.
2. The History of Pandemics
On March 11th, the World Health Organization declared COVID-19 a pandemic.
In this infographic, we look at the data to show you the history of pandemics — all the way from the Black Death to how the current COVID-19 situation. It helps give the historical context on how bad a pandemic can be. It’s also updated every day so you can see how COVID-19 compares to the impact of these previous events.
3. Coronavirus Simulator: Limiting the Exponential Spread
Why does the virus spread at an exponential rate, and what techniques can be used to mitigate that spread?
This fantastic interactive page by the Washington Post actively simulates what happens when the virus spreads normally, contrasting it to how it may spread in a forced quarantine environment or when social distancing is practiced.
4. Real-time COVID-19 Map
If you haven’t seen this useful real-time dashboard by Johns Hopkins University yet, it’s worth bookmarking right now.
We check the resource every day, and it has the latest numbers for COVID-19 cases, deaths, recoveries, and more — and it’s all sorted by country and/or state and province. Importantly, it also updates in real-time, so you always know you are getting the latest numbers.
5. Which Countries are “Flattening the Curve”?
Our post on which countries are “flattening the curve” has had over a million views in the last week alone, and it features the above interactive graph from Our World in Data.
Go to the post itself to see a bigger version of the logarithmic chart, which plots the progress of different countries in flattening the curves of COVID-19 infections. The interactive chart updates daily based on the latest numbers, and you can actually search for any country by using the “Search” button. Using the filters on the right side, you can also sort by region as well.
6. Tracking the Coronavirus: The Latest Figures
Even though the Financial Times is a subscription-based website, it recently published this useful COVID-19 dashboard and made it accessible to everyone.
It features various charts and tables on the countries affected, as well as ongoing assessments on the economic damage caused by the virus. Like many of the other COVID-19 resources featured on this list, it is updated on a daily basis.
7. COVID-19 Stats and Research
The above graphic is one of many available on Our World in Data, a fantastic initiative led by economist Max Roser.
Their coronavirus research page has tons of stats, citations, and data for those that want to dive deeper into the situation. It’s also updated very regularly.
Bonus: The Coronavirus Explained, and What You Should Do
While this is less data-driven than the other pieces of content, this animated video by Kurzgesagt still provides a handy explainer on how the virus works.
It’s about eight minutes long, and might help you fill other knowledge gaps.
Please Share These Resources
At a time when misinformation can be dangerous and even deadly, it is worth spreading the above COVID-19 resources to your friends, family, and colleagues.
Many of the above resources are updated daily or they contain evergreen information, meaning they are not going to go out of date any time soon.
Wishing you a safe next few months,
– The Visual Capitalist team
PS: If you have any other great resources to share, please post them in the comments!
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