Connect with us

Technology

Electronic Health Records as a GPS for Healthcare

Published

on

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 RecruitmentEHR as a GPS for HealthcareMillennial Doctors Transforming Medicine

EHR as a GPS For Healthcare

Electronic Health Records as a GPS for Healthcare

As patients are bombarded with more choice and information than ever, the burdened health system seems to lack the appropriate support to manage increasing demands for personalized and convenient care.

Today’s infographic comes to us from Publicis Health, and it demonstrates how electronic health records are an important piece in the puzzle to improve experiences for patients and providers alike.

At a Crossroads

As it stands, the current healthcare industry faces several challenges. Patients today have more complex needs and wants, while physicians are struggling to keep up.

  • 25% of Americans have multiple chronic conditions.
  • 63% of patients forget to adhere to medications.
  • 40% of doctors feel that their work pace is chaotic.
  • 60% of doctors feel that visits are too short to treat patients effectively.

Adding to these challenges, the healthcare industry is grappling with significant amounts of technological change, while also trying to keep costs in check. Between 2015 and 2017, hospitals lost $6.8 billion in operating income – that’s an average decline of nearly 40% in just two years.

A New Direction for Patient Care

Enter electronic health records (EHRs) – platforms used to conveniently store a patient’s health information and offer all sorts of services, from scheduling appointments and consultations to identifying patients at risk and guiding care decisions.

An improvement on physical paper charts, EHRs allow a patient’s medical history to be shared securely and instantly across different settings.

First conceived in 2009 under the Obama administration’s Health Information Technology for Economic and Clinical Health (HITECH) act, EHRs have rapidly evolved as they’ve been implemented in the industry, with 87% office-based doctors nationwide relying on the system.

Today, EHRs are a massive industry: the global market was worth $23.6 billion in 2016, and it’s expected to reach close to $33.3 billion by 2023. It’s clear their real capabilities are still just at the tip of the iceberg.

As technology progresses to incorporate artificial intelligence and big data into healthcare, the point of care for patients will likely extend beyond the four walls of a doctor’s office and out into the world. In other words, EHR systems act like a GPS, helping doctors and care teams navigate patient care more efficiently. This improves patient-doctor interactions, resulting in better outcomes.

Of course, there are always challenges to overcome. Here are a few key considerations for EHRs:

What’s the Problem?The SolveBenefits
Apps aren’t for all agesConversational AI platforms- All age groups are familiar with chat platforms
- Streamline user interactions
- Increases engagement
Expensive professional health system resourcesAI-powered virtual assistance- Concierge services for patients
- Access accurate patient information
- Increases engagement and adherence
Generic, one-way contentPersonalized content- Educational and relevant content, based on individual needs
Missed appointments or medicationReminder services- Supports optimal care
- Improves adherence
Accessibility issuesTelemedicine or transportation services- Enables patients with transportation challenges to receive the care they need

Thinking Beyond EHR Systems

Capturing real world data and patient-reported outcomes will be important for wider applications, towards:

  • A deeper understanding of patient journeys
  • Informing clinical trial design and execution
  • Better characterizing patient demographics
  • Evaluating treatment options for sub-populations

In the future, healthcare and pharma companies could potentially use EHRs as one part of an entire suite of solutions to improve their workflow – and extend the point of care everywhere.

This is part six of a seven part series. Stay tuned for the final piece by subscribing to Visual Capitalist for free, as we wrap up the major transformative forces shaping the future of healthcare.

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 RecruitmentEHR as a GPS for HealthcareMillennial Doctors Transforming Medicine
Click for Comments

Technology

Nvidia is Worth More Than All of These Companies Combined

Gain a unique perspective on the market cap of Nvidia in this simple graphic.

Published

on

Putting the Market Cap of Nvidia Into Perspective

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Nvidia’s massive rise in the AI era has been well-documented, but did you know that it’s currently the world’s third most valuable company?

To put the massive market cap of Nvidia into perspective, we’ve put it side by side with a collection of other major U.S. tech companies.

All figures were sourced from Companiesmarketcap.com, and are as of May 23, 2024.


Advertisement

Data and Takeaways

All of the numbers we used to create this graphic are included in the table below.

CompanyMarket Cap
(as of May 23, 2024)
Nvidia$2.5T
Meta$1.2T
Tesla$553B
Netflix$272B
AMD$257B
Intel$128B
IBM$157B

These figures are even more impressive when you consider that at the beginning of 2020, Nvidia was valued at a relatively tiny $145 billion.

Since then, the company has greatly surpassed other American chipmakers like Intel and AMD. This growth is due to several key factors:

  • Expansion into AI and data centers: Nvidia’s chips are highly effective for AI training, making them essential for companies engaged in machine learning and generative AI
  • Advancements in AI software: Nvidia has developed AI software platforms, such as CUDA-X and TensorRT, which are widely used by researchers.
  • Strong financial performance: Nvidia has consistently delivered strong financial results in recent years, with substantial revenue growth.

Closing in on Apple

With Nvidia’s latest stock surge (up 13.5% over the past five days ending May 24, 2024), the company could possibly overtake Apple to become the world’s second most valuable company.

Microsoft, another major player in AI, holds the #1 spot with a market cap of $3.2 trillion.

See More Visuals on Nvidia

If you enjoyed this graphic, be sure to check out this graphic that breaks down Nvidia’s revenue by product line, from 2019 to 2024.


Advertisement

Continue Reading
Voronoi, the app by Visual Capitalist. Where data tells the story. Download on App Store or Google Play

Subscribe

Popular