Senu Sam is a passionate entrepreneur, startup enthusiast and professional with extensive operational, marketing and management expertise in healthcare gained through working with some of the world’s largest healthcare companies. In a career spanning 12 years, Senu has responded to the day-to-day demands of his job with an entrepreneurial approach. He has managed large teams, led new initiatives, owned and turned around the challenges of the organizations he has been a part of.
It is indisputable in this day and age how much technology has changed the way we live, from simple choices like what to eat for breakfast to major financial and medical ones. The internet and India’s digital revolution have been the primary drivers of growth in virtually every business. India has adopted technology more than any other nation.
Every traditional industry in India has widely adopted technology-driven solutions, and the healthcare sector is at the forefront of a digital revolution. Healthcare is now universally accessible and affordable thanks to digital technology, which has also altered the business and addressed its flaws.
Challenging landscape of Indian Healthcare:
Despite the widespread use of technology, several fundamental truths continue to influence how we view India’s healthcare system today. While only 32% of the nation’s population lives in these metro areas, almost 60% of hospitals in India are found there. Rural areas have a particularly acute shortage of doctors and nurses, and one of the key issues is still access to high-quality medications and healthcare.
Health-tech startups fill in the gaps here. The most remote areas of the country may now get medicines at prices they can afford thanks to e-pharma companies. Health-tech businesses have developed a full product suite in an effort to incorporate several facets of a consumer’s healthcare experience in addition to their primary provision of online pharmaceutical delivery. They facilitate communication between patients and health care providers, facilitate access to medications, aid in the management of chronic diseases, and automate processes and operations for a variety of stakeholders, including hospitals, diagnostic labs, and health insurance companies, to name a few. Along with enhancing the user experience, healthcare in India is going toward operational digitisation.
They facilitate communication between patients and health care providers, facilitate access to medications, aid in the management of chronic diseases, and automate processes and operations for a variety of stakeholders, including hospitals, diagnostic labs, and health insurance companies, to name a few. Along with enhancing the user experience, healthcare in India is going toward operational digitisation.
Healthcare’s Digital Transformation:
Surgical robots, wearable technology-assisted procedures, telemedicine, and smart hospitals are just a few examples of how technology is transforming the healthcare industry.
Here is a look at how the healthcare sector is utilizing technology like artificial intelligence (AI), mobile apps, the internet of things (IoT), wearables, etc. to enhance patient care and save costs throughout the healthcare value chain.
Telemedicine platforms that enable remote consultations have completely changed how healthcare is delivered, particularly in rural areas where there is a large reliance on unqualified medical personnel. This offers access to skilled specialists and efficient medical care at a 30% lower cost than a typical trip to the local hospital. Medical personnel now have the chance to interact directly with their patients, track and evaluate their treatment plans thanks to smartphones and better internet connectivity in rural areas of the nation.
The entire diagnosis and patient treatment are improved by digitizing patient profiles and health information. Medical professionals have not yet embraced the EHR (Electronic Health Record) initiative, with the exception of a few urban areas. EHRs lower the chance of errors by assisting medical practitioners in making an informed diagnosis. This will protect the e-pharma supply chain from the entry of phony, fake, and outdated medication.
Modern health tech firms are powered by sophisticated AI and machine learning systems that use the collected data to forecast patterns, evaluate patient records, enhance diagnoses, and deliver evidence-based care at various phases of a patient’s journey.
Telecare, telehealth, telemedicine, mHealth, digital health, eHealth, etc. are all examples of TEC, or technology-enabled care. TEC combines mobile, digital media, and health technologies. It significantly affects offering an integrated approach to patient monitoring and care in the fields of health, wellness, and social care.
Here are a few instances of how TEC might improve healthcare effectiveness and efficiency.
- Lowering the cost of patient care and monitoring for those with chronic illnesses
This number dramatically rises when viewed on a worldwide basis. Long-term patients frequently visit hospitals, need a lot of medication, and need ongoing care. Online consultation and remote condition monitoring can help doctors diagnose problems more quickly and proactively, while online pharmacies can help patients get their medications more quickly and conveniently. Digitization solutions like patient tracking and path monitoring can also help improve the quality of hospital visits, which for a patient with a long-term illness is often.
- Digital and mHealth can enhance business operations and results:
Medical and healthcare services are delivered using a mobile device through mobile health, or mHealth. The rise in apps offered by the healthcare companies and the high engagement rate of apps have both contributed to the burgeoning expansion of this market. The healthcare business is really one of the top 3 industries to encourage and accelerate the growth of mobile devices. Our lives now revolve around mobile technology. Going mobile has advantages that can be used by both patients and doctors. Doctors may examine real-time information while it aids patients in self-management and keeps track of their health. Another advantage of home telehealth is remote patient health status monitoring.
- Healthcare wearables
The IoT, a broader wave of technology, which includes wearable technology, is expanding quickly. Beyond only monitoring and tracking the user’s health and fitness data, wearable technology has found applications in the healthcare industry. As virtual reality applications offer experience-based applications for doctors and patients, wearables continue to develop.
- Healthcare and the Internet of Things (IOT)
Interactions between technology and devices across industries are evolving as a result of IoT. Modern solutions are required to address the rising expense of healthcare, and IoT appears to be the best option for both patients and healthcare facilities. The Internet of Medical Things, or IoMT for short, is how IoT in healthcare actually works. It is the linking of medical equipment, infrastructure, software applications, health systems, and services.
Emerge of asset-light & New age SurgiTech company, cost-efficient and patient experience focused approach
An asset-light model healthcare provider does not own the land and the building which reduces its capital expenditure and requirement for low investment for expansion. In 2020, we have seen many startups emerge in this space. This enables a shift to value-based care reducing the cost of Healthcare delivery. Better patient outcomes and affordable cost, higher returns on investment for providers and insurers are anticipated in this value-driven healthcare system, which will still include greater data-driven assistance for policymakers. Mykare Health is one of the example for asset-light & New age SurgiTech company
As the current trend indicates, technology will be the sole driver of healthcare in India in the future. A comprehensive range of healthcare goods and services will be housed under one roof thanks to the development of a digital healthcare ecosystem. As the demand for care extends from the pre-diagnosis stage all the way through treatment and chronic illness management, integrated and personalized health solutions will bring together a variety of service providers including hospitals, e-pharmacies, insurance firms, and more.
It will be easier for health IT companies to integrate their product offerings into the current framework for an effective and efficient patient-centric ecosystem if the regulatory climate is favorable and the government is focused on the country’s digital revolution.