Podcast Insights:
- There is a strong need for the traditional healthcare culture to evolve. However, there is a strong resistance to change owing to a risk-averse culture due to multiple lives at stake, billions of revenue at stake, and strict regulations to address.
- Covid exposed the underbelly of the healthcare system. Every central healthcare institute now has a healthcare equity initiative, which is excellent.
- Technology has the greatest impact on healthcare. During Covid, the healthcare sector witnessed huge investments worth $ 40 billion, which dropped to $ 23 billion in 2021.
- Ultimately, successful technology integration requires a collaborative approach involving inputs from all stakeholders, like patients, healthcare providers, and IT professionals.
- Telemedicine is an excellent example of creating a higher level of care. No wonder it’s expected to boom to a 130-billion-dollar industry in 2025.
- During Covid, organizations like Kaiser extended 50% of healthcare services digitally, creating a favorable environment for patients to receive appropriate care irrespective of their geographical location.
- Telemedicine greatly serves society as it reduces care costs, improves contact between physicians and far-off patients, promotes better connectivity, and saves time.
- However, telemedicine also challenges the digital platform to imitate real-life environments and offers therapeutic and diagnostic care.
- Mckisney recently revealed a $ 250 Bn digital transformation opportunity available only in the US. That shows the tremendous potential of new-world technologies that are taking over.
- The doctors and other supporting medical staff are constantly being pushed to work harder and harder at lower pay. Technology comes as a big respite.
- Hospitals and health systems are centered around platforms, so collaboration and interoperability are crucial. This also allows the patient to carry data from one doctor to another.
- New regulations are coming up to drive the improvement of information sharing across platforms.
- It’s essential to break down silos and build cross-functional teams. We must integrate or talk to each other in a hospital with all the collaboration tools. Consequently, one common data platform or data lake is essential for joint decision-making.
- Artificial intelligence (AI) – AI can be used to develop personalized treatment plans based on a patient’s medical history, genetics, and other factors, which is a great add-on.
- Telemedicine – With telemedicine, patients can receive medical advice, diagnosis, and treatment from healthcare providers via video conferencing, phone, or other digital channels, offering great convenience
- Chat GPT – With tools like Chat GPT, businesses can improve their efficiency and decision-making.
- This can help businesses to identify new opportunities, mitigate risks, and improve their overall performance.
The Impact of Technology on Healthcare: Insights from Jamey Edwards
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