How is technology changing the healthcare sector?

Summary

The script discusses the transformative impact of personal technology on healthcare, highlighting the rise of remote treatment and wearable health monitors. It notes a significant investment in digital health startups and the expected growth in medical mobile apps. The 'housecalls plus' trend allows for timely treatment at home, reducing hospital admissions and costs. Wearables and personalized tech empower patients to monitor health, consult social networks, and use apps for medication management. Telemedicine is expanding, with a growing number of hospitals and physician groups offering services, suggesting a future where technology complements, rather than replaces, the doctor-patient relationship.

Takeaways

• 🌐 Personal technology is revolutionizing healthcare by enabling medical decisions and treatments to be made remotely.
• 💹 Significant investment in digital health startups has occurred, with 2.3 billion U.S. dollars raised in 2014 alone.
• 🔮 Predictive analytics in healthcare has attracted substantial capital, with 1.9 billion U.S. dollars raised between 2011 and 2014.
• 📈 A surge in medical mobile app investment is expected, with healthcare organizations projected to spend 1.5 trillion U.S. dollars by 2018.
• 📊 The trend of remote healthcare, termed 'housecalls plus,' is facilitating timely treatment and reducing healthcare costs.
• 🏥 Pilot programs in remote healthcare have shown success, such as an 18% reduction in hospital admissions for diabetics using remote monitoring.
• 📉 Readmission rates for monitored patients have dropped by 31 percent, contributing to a 7 percent cost reduction for healthcare centers.
• 📱 Patients are increasingly using wearables and personalized technologies to monitor health and make decisions without immediate professional consultation.
• 🤝 Health social networks and telemedicine are providing alternative platforms for patients to share information and receive advice.
• 🧬 Home kits and genomic services are part of the growing trend of patients taking a more active role in their health management.
• 🛒 Retail health outlets and remote clinics are emerging as alternatives to traditional hospitals for patient consultations and care.
• 🚀 Telemedicine is growing rapidly, with a significant portion of U.S. hospitals and physician groups offering such services, and a 30% annual growth rate in Ontario, Canada.
• 🤖 There are concerns that technology may overshadow the role of doctors, but healthcare professionals remain central to treatment plans and patient relationships.

Q & A

What is the impact of personal technology on healthcare?

Personal technology is fundamentally changing healthcare by enabling medical decisions and treatments to be made remotely through wearable health monitors, telemedicine, and mobile apps, improving the quality of care and reducing costs.

How much capital was raised for digital health startups in 2014?

In 2014, 2.3 billion U.S. dollars was raised for digital health startups.

What is the expected investment in medical mobile apps by 2018?

By 2018, it is expected that 70% of healthcare organizations will invest in medical mobile apps with an estimated spend of 1.5 trillion U.S. dollars.

What is the term used to describe the trend of remote healthcare?

The trend of remote healthcare is referred to as 'housecalls plus' in the script.

How has the use of remote monitoring and communication affected hospital admissions and readmission rates in the U.S. pilot program for diabetic patients?

In the U.S. pilot program, the use of remote monitoring and communication reduced hospital admission rates by 18 percent and readmission rates by 31 percent for its diabetic population.

What is the potential cost reduction to the test center as a result of the pilot program?

The pilot program resulted in a 7 percent cost reduction to the test center.

What alternatives to hospital-run healthcare programs are mentioned in the script?

The script mentions the use of wearables, personalized technologies, health social networks, and apps for detecting correlations between conditions and medication interactions as alternatives to hospital-run healthcare programs.

How are patients using apps to improve their health?

Patients are using apps to detect correlations between their condition and medication interactions or bad health practices, which helps them make decisions on how to improve their health.

What are some of the options available for patients who choose to consult a healthcare expert?

Patients can consult healthcare experts through retail outlets in city centers, remote clinics, on-call doctors, or through telemedicine services such as video chat, email, or mobile phones.

How has telemedicine grown in the U.S. and Canada?

Telemedicine has grown exponentially with 72% of hospitals and 52% of physician groups in the U.S. currently providing such services, and in Ontario, Canada, telemedicine programs have seen an annual growth of about 30%.

What is a concern regarding the advancement of personalized technology in healthcare?

A concern is the belief that technology will take over the role of the doctor, with an expected 142 million medical and health apps to be downloaded in 2017 and 65% of consumer healthcare transactions to be made using mobile devices.

What is the new dynamic of doctor-patient relationships requiring in the healthcare industry?

The new dynamic of doctor-patient relationships requires new collaborations and business models, as well as a revised understanding of healthcare companies' role in the value chain.