Updated: Jun 8
The digital transformation storm is sweeping various businesses like retail, banking, insurance, media, and travel and has entered into our personal lives.
Another industry that has joined the above list by being hit by the storm is the healthcare.
Healthcare companies are among the most heavily regulated, facing unique compliance challenges. They were always struggling to figure out how to integrate, aggregate, harmonize and analyze all of the data they have captured, to discover actionable business insights. Further, accelerated time to market and adding value to patient’s lives are the key drivers for digital adoption.
Digitization of healthcare has gone beyond the drug development. It is no longer providing the drugs alone but services as well.
The healthcare industry had witnessed an impact on the entire product life cycle starting from the early drug development to delivery and finally patient care. Drug discovery is immensely helped by machine learning. Researchers will have access to much more detailed analysis on real-world data, which will assist in better understanding the effects of a drug.
Internet of Things is used to digitally transform manufacturing and supply chain. Temperature sensing tags are used to monitor cold chain conditions and thus ensure and maintain product quality in transit.
Electronic Health Records of any patient who is under the care of multiple doctors helps them to use these valuable data points to deliver appropriate treatment and make decisions about patient’s care.
Wearables have improved the patient care substantially. There are many wearable devices that provide real-time monitoring of disease symptoms along with reminders for prescribed treatment. Ingestible medicines like Proteus pill sends patient data in a secure transmission to the physician, which helps in more accurate diagnostics and personalized treatment.
Fitness wearables such as Fit bit and Apple Watch have increased the ability of patients to take responsibility for their own health.
Portals like “PatientsLikeMe” are helping people with chronic health conditions get together and share their experiences living with the disease. Where newly diagnosed patients can improve their outcomes by connecting with and learning from others. Also, researchers learn more about what is working and what is not, so that they can develop new and better treatments.
Patient engagement has become easy with mobile apps for recovering patients to help manage stress, find information, learn about care giving and chat with a doctor.
In clinical trials, digital is helping by standardizing data exchange and replacing several data repositories with a centralized information hub. Patient finder technology combines clinical knowledge with big data to allow drug manufacturers to identify potential patients that may have a disease that is hard to diagnose.
With Telemedicine, Patients no longer have to schedule their routine follow-up visits but they can a video call to get the prescription update or check-up they need.
With digital, consumers are now in the driving seat. They have better access to quality doctors and quicker wellness. Digital is helping healthcare and humanity.