Compared to other industries, the healthcare industry has been very slow to adopt digital technologies. But today, healthcare organizations have realized the significance of digital data when it comes to making better decisions, staying competitive and providing consistent quality of care. To achieve greater life expectancy, the quality of the healthcare service needs to be checked and improved. Keeping this in mind, big players in healthcare system are pushing the need for digital transformation. With the assistance of data conversion service, all critical data can be converted into digital format. Digitization of healthcare data helps to gather all important information from modern digital devices, channelize effectively and it can be structured to give automated response to any existing or upcoming health problems. Digital transformation refers to a wide range of technology and automation that makes medical data entry easier, provides better connectivity with customers and external stakeholders, and advanced data driven innovations.
Over the years, new technology has emerged from cloud and edge capabilities, blockchain, to 5G connectivity and beyond. According to a recent study, 84 percent of US-based healthcare organizations use digital patient records. Organizations that have switched to digital health records can ensure better patient care, improve the workplace experience for staff members, and are even able to offer cost-efficient healthcare services.
With new connected systems, healthcare professionals and patients find themselves in a better place. Digital transformation is not just about buying new technologies, it can ease the healthcare procedures, make operational processes in the healthcare sector easier, more efficient and automated. With advanced technologies like apps, telemedics etc., patients can communicate well with the physicians; healthcare professionals can give customized services to the patients. These online and mobile platforms not only empower patients but also help healthcare organizations to better understand the patients and their needs. After ten years, the organizations that have adopted digitization will be able to gain the benefits and it is important to invest in other next-gen technologies and capabilities to continue to bring new, innovative patient care solutions.
Better Digital Capabilities
Digitization in the healthcare or medical sector is not just converting medical records into digital format. Digitization along with AI and automation is transforming the healthcare industry. It has other capabilities such as remote and self-monitoring medical chatbots, smart pills, implants, on demand healthcare, wearable medical devices etc. In 2018, many believed that by 2023 there would be wide spread AI adoption throughout the industry. Today we are here into 2020 and AI is becoming popular in every industry and it is everywhere in all aspects of patient care. AI integration helps in improving the productivity of physicians, understanding more about the patient, and delivering optimum care. These advanced technologies also help in prevention of debilitating health conditions and maintenance of the patient’s health.
Personalized Medicine Will Emerge
In 2020, personalized medicine will emerge. With the integration of AI in the process, personalized and precise medicine will become smarter, more specific and custom- tailored. Medical implants are also expected to become more agile and perform more functions to minimize patient input for treatment. Prosthetics and stent technology will achieve new heights with advanced bioprinting technology. With all these advances, medical implants will become notably less invasive and safer.
Digitization Driving the Growth of Global IT Healthcare Market
The Healthcare IT market is expected to grow in the forecast period 2020 to 2027. Data Bridge Market Research says that the market is growing at a CAGR of 15.8% in the forecast period of 2020 to 2027 and is expected to reach USD 375,534.60 million by 2027. The two main factors driving the healthcare market are digitization in the healthcare industry and the demand for value-based care. The report studies the key market regions, market potential, opportunity and challenge, restraints and threats. The report covers almost all the important regions including North America and MEA, and also provides a complete analysis of their CAGR, market size, future growth opportunities, and other vital factors. A very long list of prominent players has been studied in the healthcare IT report.
Digital transformation is the conversion of all medical data and related data into digital format with the help of data conversion services. Digital data along with other advanced technologies like Artificial Intelligence, Machine Learning and the Internet of Things would help to derive valuable insights and thereby improve efficiency in the healthcare industry.
