| |May 20189CIORevieworganizations maximize the value of services along with treatments, by effectively handling their financial health led by digital.Riding the wave of Digital DisruptionThe healthcare industry is often accused of being a laggard when it comes to adoption of new-age technology. However, the way and the efficiency at which the industry has embraced digital solutions is noteworthy. Digital-led transformations are penetrating the healthcare industry ­ one step at a time in the value chain. All stakeholders will ride the digital wave ­ and there lies a myriad of possibilities:· Putting care back in "healthcare" ­ Socially empowered healthcare consumers (not patients): Patients need tools that can assist them in doctor interactions and also help them manage their own health. With the ever-increasing advent of social media, surge in regional language content, emergence of niche products and service offerings that cater to `beyond-the-pill' care have empowered and augmented healthcare consumerism. This will continue to rise in the near future. Patients as well as caregivers are not only more aware and better equipped to handle healthcare decisions but are also making discerning choices basis experience and demanding better from all healthcare stakeholders ­ hospitals, doctors, chemists and pharma companies. · Connected Healthcare from Diagnosis to Better Health Outcome: Connected devices, Fitness Trackers, Wearables, EMRs/EHRs ­ offer considerable avenues for digital healthcare data collection. We also have the Government of India leading the "Electronic Health Record Standards for India" initiative, which is a uniform maintenance of patient records in government hospitals. However, disruption is possible only when data flows and there are options of cross-talks across systems to identify the right intervention areas in the health journey. The right intervention at the right time can have a butterfly effect on overall health outcome. At such a time, the creation of a sustainable healthcare ecosystem that brings together several tech players on one platform will change the paradigm of care! · Data-driven insights: Data will provide insights that can lead to a boom in personalized care. There will be a paradigm shift in decision making across stakeholders. - Doctors: The approach to treatment will shift from empirical evidence to data-driven decisions. Improved, quicker, predictive diagnosis will help improve the patient's journey and time to treatment.- Patients: A patients' medical history, diagnostic information, and treatment regimen provide considerable information to introduce elements to influence a behaviour change to drive and improve adherence; lifestyle modification programs are constructed with the increased understanding of patient's behaviour.Healthcare EcosystemMuddled by shrinking pipelines, and the ever-elusive need to reduce the time to market products, pharmaceutical companies are running a race with time. The ongoing healthcare transformation to value creates opportunities and challenges for innovation, and big data and cognitive computing can be applied to drive value among providers, payers, and pharma.While disruption from predictive analysis will bring in a change to the way we approach healthcare, it is currently seen in pockets and the overall view would be visible only once ecosystems form across the value chain. Interconnected players working towards the common goal of patient-centric quality care at an affordable cost.This healthcare ecosystem, majorly driven by digital technology, will ensure that the future healthcare providers can access and use data in ways that shift the preventive care model to a predictive care model. It needs to be a movement, with a shared dream of a frugal innovative healthcare ecosystem centred around Indian patient-needs of access and cost.Also, understanding the importance of data security, India too is coming up with its version of HIPAA Act of USA. The digital offerings from the ecosystem will change the dynamics of the industry. Ambati Venu
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