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Some trends come and go — and some stick around indefinitely.

Virtual reality within the healthcare space is not going anywhere, anytime soon.

Over 240 hospitals in the U.S. are using virtual reality to assist various health-related procedures, and support patients in helping understand their treatment options. The virtual reality market in healthcare is projected to reach $6.9 Billion by 2026.

Understanding the Role of Virtual Reality in Healthcare

The terms ‘augmented reality’ and ‘virtual reality’ are sometimes confused.

According to Healthcare Weekly, Virtual reality creates an immersive experience by providing the user with images of 3D-environments. “As part of this virtual experience, the user can sometimes change or alter the appearance of the environment. As for augmented reality, this simply adds graphics or sound to a real-life environment and augmented reality glasses are then used to bring the experience to life.”

How consumers shop in 2019 has fundamentally altered how healthcare is provided, including stepping up the patient experience. They expect to experience top notch service in a brick and mortar retail store, and they expect the same “5-star” service inside the walls of a hospital or medical office.

Prominent healthcare systems are leading the way in this effort. Here are the top four predictions on what we can expect to see over the next year when it comes to the patient experience.

1. Streamlining with Technology

Leading hospitals will utilize technology to produce more cost-effective programs, such as an EMR-integrated customer relationship management (CRM) platform where insights are assembled and saved for future reference. This data will include documentation from patients’ previous visits, to predictors of potential future health concerns.

Healthcare of yesterday included going to the nearest facility, trusting your care provider without question, and following the protocol/advice that was given.

Healthcare of today includes going to a provider who has the best reputation on HealthGrades.com, and on your neighborhood’s Facebook community page, doing your own research in advance of an appointment as well as following the appointment, and seeing what other alternative approaches are available in addition to the advice that was given by the provider.

Our healthcare landscape has become more and more competitive, since patients and their loved ones are no longer riding shotgun, but rather are now sitting in the driver’s seat…steering their own healthcare experience.

Over the past year, we have witnessed several advances in the realm of telemedicine. From adjustments in the state / federal policies and reimbursements to providers implementing telehealth in their practices to the actual definition of telehealth changing.

The intersection of consumer purchasing transactions has evolved across multiple areas in our lives — how products are acquired, how we communicate with each other, and how we foster connections — the weaving of the tangible and digital is here to stay.

Telehealth has been defined as the delivery and facilitation of health and health-related services including medical care, provider and patient education, health information services, self-care via telecommunications and digital communication technologies.

Technology that is utilized to store, share, or synthesize health data can be referred to as “health information technology” or healthIT. This wide classification includes practice management systems to online patient portals. Telehealth technology includes both software and hardware.

Over the next several years, Big Data is estimated to increase faster in healthcare than in other sectors, such as manufacturing, financial services or media. The Healthcare sector’s need to manage patient care and innovate medicines simultaneously pushes for newer technologies to be adopted in the industry. According to an International Data Corporation (IDC) report, this puts healthcare organizations in a challenging position to manage exceptionally large data assets.

It is projected that healthcare data will experience a compound annual growth rate (CAGR) of 36% through 2025.

There have been tremendous advances in the quantity of data we regularly generate and collect in all areas of our lives, as well as applications to ascertain and analyze it. This crossroads is referred to as “Big Data” and it is aiding companies in a wide range of industries to become more effective and streamlined.

Healthcare is no exception.

Big Data in healthcare helps to foresee outbreaks, find cures for diseases, enhance quality of life, and escape avoidable deaths. These patient benefits are in addition to improving earnings and reducing unnecessary operating costs.

The collective goal of caretakers is to understand the entire patient, and flagging signs of serious illness early in life so treatment is more effective and less expensive in the long run. With our global population growing and people living longer than ever before, treatment delivery is quickly evolving, and data is driving the direction of these decisions.

Here is a look into how Big Data is playing a significant role within healthcare.

Blockchain is a tool that allows the trafficking of data and services and ensures financial exchanges happen within a secure setting. Because of this high level of security and variability, it provides valuable opportunities within healthcare. Here are some examples of how blockchain can be integrated.

Data Security within Clinical Trials

The blockchain technology allows users to prove the authenticity of any document registered in the system. Because blockchain records immutable data, it allows for the storage of clinical trials’ results in a protected fashion, literally making data unable to be modified and ensuring its efficacy.

Blockchain technology is currently one of the most pivotal and disruptive in the world. Multiple industries are implementing the blockchain technology to innovate the way they function, including the healthcare industry.

Blockchain is decentralized digital accounting that keeps a permanent, unalterable record of transactions between users. In short, a blockchain is a time-stamped series of fixed record of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) are secured and bound to each other using cryptographic principles (i.e. chain).

In our current healthcare climate, a patient can book an appointment with a physician, inquire about medical guidance, access medical records, and have a prescription filled…but never actually leave their front step. If that isn’t incredible enough — robots perform surgeries and 3D printers can print human organs; the healthcare industry transforms year after year, opening the door and earning a front row seat in the development of digital health.

Let’s explore primary drivers that are responsible for moving digital health along within the medical market.