Improving the patient experience is imperative in the competition for healthcare market share. Organizations must improve levels of convenience, access, and the overall customer service in order to thrive — no pressure, right? Here are the most relevant patient experience trends that will persist throughout 2019, and what can be done to make the most of them.
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.
William Shakespeare, the famous writer of “Romeo and Juliet,” did not believe that names should matter too much.
He wrote Juliet’s line to say:
“What’s in a name? That which we call a rose
By any other name would smell as sweet.”
But many of us would disagree with Mr. Shakespeare on how much a name matters, including the use of healthcare lingo.
Our collective medical community is comprised of both telemedicine and telehealth — and in many cases — the terms are used interchangeably. But, do they mean the same thing? That is a topic of debate. Many believe there is a distinction.
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.
According to a recent survey in January 2019 by NewVantage Partners, nearly 80% of healthcare execs are investing more in Big Data. In addition, they’re increasing investments in artificial intelligence (AI) as well. Over 70% of healthcare executives reported that their organizations are accelerating investments in Big Data analytics and AI, citing disruptive forces and industry competitors as major motivators for increasing spending.
These survey insights seem to be an accurate preview of thelatest researchstudy, titled, “Big Data Analytics in Healthcare Market.” In 2017, the Global Big Data Analytics in Healthcare Market was valued at $16.87 billion, and is projected to reach $67.82 billion by 2025, growing at a CAGR of 19.1% from 2018 to 2025.
Big Data’s commanding influence by key players include All Scripts, Cerner, Dell EMC, Epic System Corporation, GE Healthcare, Hewlett Packard Enterprise (HPE), International Business Machines (IBM) Corporation, Microsoft, Optum, and Oracle Corporation.
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 withinhealthcare. 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.