Healthcare Future Trends: 2024 and Beyond
The changing face of technology has been one of the biggest driving forces in the evolution and growth of most industries. Digitalization has forced industries like eCommerce and retail to take strides in advancement, and now, it is starting to have an impact on the healthcare sector as well.
But in saying this, this sector, in particular, has been lagging behind most other sectors, much to the detriment of the players within the industry, as well as to the patients themselves. It is so far behind that research shows that only 7% of healthcare companies have stated that they have gone digital, compared to 15% in other industries.
The industry is prime for digital advancement, and with the recent COVID-19 pandemic sweeping the globe, companies have found themselves having to rapidly evolve to keep up with the new way of life. The potential for growth within the healthcare industry is unmatched. It is estimated that health spending will top $5 trillion by 2026, and with technology being the biggest driver behind this, that number could increase significantly before then.
We took a look at the key drivers of change in the healthcare sector, and what the expected trends will be over the next few months to years.
Medical Data Will Be Centralized and Accessible
There has been a growing need over the last few decades for healthcare to move out of its antiquated practices and step into the world of digitalization. One of the first places that require attention is the management, storage, sharing, and accessibility of patient medical data.
The latest advancement in healthcare has seen the start of the sharing of electronic health records in a centralized ecosystem. This Prolifics piece on FHIR delves deeper into it, but the essence of this would be to make data more available to healthcare professionals as well as patients.
Not only would your doctor be able to have full access to your full medical history, as well as your symptoms and day-to-day data, but they would also have access to a vast amount of information for ease of diagnosis.
Data can be shared with specialists quickly and efficiently, while costs are reduced and time is saved in the process. All healthcare will be centralized and accessible, reducing the risk of misdiagnosis, and patient overload. Another great thing about merging healthcare and technology is that nowadays you can even get your medical certificate online.
There Will Be A Spike in Wearable Tech
Already, we have seen the rapid growth in wearables like smartwatches, and how it has evolved fitness and health. But, this kind of wearable tech is expected to keep on evolving and start having a key role in the medical field too.
Patients will no longer need to undergo annual medical check-ups and will have instantaneous and real-time access to their current medical well-being. Heart rate, blood pressure, and sweat meters for diabetic patients will help them be monitored with these wearables, with the patient’s physician having access to this data at all times.
Not only can they provide real-time information about a patient’s condition, but they can also even create alerts and summon emergency services if there is a life-or-death situation.
Patients can access specific tech, based on their conditions, and currently, there are several different options including:
- Heart rate sensors;
- ECG monitors;
- Exercise trackers;
- Sweat meters for diabetics to monitor blood sugar levels;
- Oximeters monitor the amount of oxygen carried in the blood of patients with respiratory diseases;
- Biosensors;
- Blood pressure monitors.
Appointments Will Take Place as Remote Consulting and Virtual Reality
Once again, COVID-19 has had a large role in fast-tracking this technological advancement. Statistics show that face-to-face consultations took a huge blow between March and June this year.
- Telephone appointments increased from 39% to 51%;
- Online message and chat from 23% to 40%;
- Video consultations increased 50-fold, yet remained low at 0.5%.
This has served as an indicator to the field that consultations no longer need to be face-to-face in most cases and can be conducted virtually, whether online or over the telephone. In cases like flu, congestion, coughs, and rashes, as well as mental health assistance, patients can be encouraged to make use of video conferencing facilities to reduce the cost as well as time spent in appointments.
Therapy, counseling, and emergency assistance in mental illness can also take place over the video, reducing the risk to the patient’s life in extreme cases, and providing on-the-spot assistance.
AI Will Play a Larger Role in Healthcare
AI is certainly one of the most anticipated advancements in not only healthcare but a plethora of industries across the board. From its impact on e-commerce and last-mile delivery to the streamlining of manufacturing and industrial processes, AI has a dominant role globally over the next few years.
In healthcare, in particular, AI will begin surfacing in various forms. You will begin to see robotic assistance for patient processing upon arrival and hospital droids assisting nurses with routine tasks such as fetching and restocking supplies. Chatbots and virtual health assistants will also be able to provide guidance and help to patients in data capturing and early diagnostic forms.
However, this is only the beginning. AI will soon be more powerful and prevalent in areas like precision medicine, medical imaging, drug discovery, and genomics. Patients will start receiving customized healthcare solutions with cutting-edge, precise technology.
Wrapping Up
From big data to digitalized practices to blockchain and electronic health records, the health industry finally looks like it has started taking a step in the right direction. Not only will each of these advancements be worth billions, even trillions of dollars in the next few years, but it is also expected to save the industry, and patents alike, millions. Chatbots, for example, are expected to be worth around $314.3 million in the next 20 years, while AI is expected to save the US health economy about 150 billion dollars in the same period.
All of this information can be used to heighten patient care by having real-time data and alerts, and multi-physician access to electronic health records to heighten patient predictions and patient engagement. The more data, the more healthcare professionals can effectively assist their patients.
