The digital future of healthcare
The future of healthcare by predictive data analytics
Data analytics is the sign of the times that world has made its advances in digital ways. Predictive analytics in healthcare is not an entirely new revolution of the digital era. It’s simply a mere application of statistics and mathematics to the tremendous and heaps of data available to doctors, patients, or any other veteran in the healthcare sector. According to last year’s E&Y digital survey, healthcare and lifescience sectors are apportioning high budgets to digital technologies. This would only mean that healthcare is altering the conventional mindset and pivoting the new change with a sole objective to predict the novice and unravel the unknown possibilities.
There has always been a debate on the dichotomy between digital disruption for good and digital disruption for breach of patient’s privacy. The World Health Organization (WHO) and United Nations (UN) have already foreseen that of the people diagnosed of illness, 70% of them will be chronic conditions. The increasing need to predict these ailments and be able to discover medications and drugs has been one of the focus point for healthcare industry, leveraging data science and analytics.
Based on the rife usage of EHRs, prescriptive analytics is already being utilised to predict the duration of the patient and the medical staff can visit the patients in time regularly as per the need. AI embedded cognitive analytics uses machine learning, deep learning and logic reasoning, provides automated decision that are very human like. Fitness trackers and applications are now being integrated as a layer with the formerly mentioned approach. A few other technological advancements that have already seen the light of the day and laid their foundation in the healthcare industry are wider usage of EMRs, increased usage of wearable devices, smart medical assistant like chatbots and digital driven genetic profiling.
Advanced analytics might play indispensable role in helming clinical trials and operational performance. Medtronic has collaborated with IBM to devise mobile personal assistant application, that will provide actionable glucose insights for diabetic patients. In the future, data science and analytics can progress furthermore, such that the medical devices on which the patient is monitored may alarm the staff of patient’s health risk for a based on a pattern of medical device readings.
The autodidactic capability to garner, analyse and amalgamate data from multiple locations may facilitate biomedical equipments experts with insights that cannot otherwise be attained through single-device data analysis alone. This could play a major role in recreating smarter devices that makes a doctor’s life easy and breezy. The king player of the healthcare sector, pharmaceutical industry, will probably gain the most prolific advantage from analytics and data.
They will be not only be able to identify the drugs that are consumable without any side effects but also gauge and demarcate the approach applied in drug research, trend shifts and drug supply methods in comparison with their competitors. More and more nutraceuticals will be a chemical revolution as a goal towards achieving a healthier lifestyle. While marketing and sales plays a fulcrum in this sector, new strategies can be coined and adopted in marketing and sales channels to gain the competitive edge for pharma.
However, many simmering debates among the thought leaders have been emerging on whether analytics will work in favor for both treaties and treaters or render breach of privacy for many businesses and patients. With increased public anticipation on wellness and healthy lifestyle, healthcare will see a scalable paradigm shift to a digital in the gene kind of industry.
Medical providers will be seen digitally front ending the organisation in the quest of customers. Although the resistance and refutability is still prevalent with most medical experts, organisations and leaders, digital health tools will have a lot to offer in terms of time savings and cost optimisation. Predictive analytics will prove as the most powerful weapon to explore the untapped possibilities of future. The operational margins can be redeemed by incorporating analytical driven business models at every level for any healthcare company. A few esoteric health analytics models can be built to keep the patient data as secure as possible.
An addition of analytics business models will only lead to change in the conventional work set up models. Cognitive computing and bot nurses and medical assistants at the hospitals are the going to be the immediate health revolution in the near future. These analytics models must be so seamlessly amalgamated that it proves effective for medical veterans, patients, doctors, supply chain and medical distributors. These will also enable you to maximize the usage of the existing data management systems or legacy BI tools and products.
Kiran Kalakuntla is founder & CEO, eKincare.