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What’s the future of the healthcare industry will look like?

What do you know about health care?

What’s the future of the healthcare industry will look like?

 

What do you know about health care?

healthcare industry-efficient health care

Health care,  or healthcare, is the maintenance or improvement of health via the prevention, diagnosis, treatment, recovery, or cure of disease, illness, injury, and other physical and mental impairments in people.

Health care is delivered by health professionals in allied health fields.

Physicians and physician associates are part of these health professionals.

It includes work done in providing primary care, secondary care, and tertiary care, as well as in public health.

What’s the future of the healthcare industry will look like?

Is healthcare one word or two words?

To put it more simply, Dr Waldman writes: “Health care—two words—refers to provider actions.

Healthcare—one word—is a system.

 

Medical Health Care Challenges

Access to health care may vary across countries, communities, and individuals, influenced by social and economic conditions as well as health policies.

Providing health care services means “the timely use of personal health services to achieve the best possible health outcomes”.

Factors to consider in terms of health care access include:

  • financial limitations (such as insurance coverage)
  • geographic barriers (such as additional transportation costs
  • possibility to take paid time off of work to use such services)
  •  personal limitations (lack of ability to communicate with healthcare providers
  • poor health literacy, low income).
  • Limitations to health care services affect negatively the use of medical services, the efficacy of treatments, and overall outcome (well-being, mortality rates).

An efficient health care system can contribute to a significant part of a country’s economy, development and industrialization.

An example of this was the worldwide eradication of smallpox in 1980, eliminated by deliberate health care interventions.

What’s the future of the healthcare industry will look like?

 

Medical Technology and Healthcare Business

Medical Technology and Healthcare Business is a leading growth sector in national and global markets.

Globalization of markets and strong customer orientation create excellent employment and career chances.

What is the difference between health care and medical care?

This distinction is more like a singular and plural distinction, in some ways.

Health care is the specific things that people do: see a patient or prescribe medication.

Healthcare is an industry, the system by which people get the health care they need.

 

What’s the future of the healthcare industry will look like?

Blockchain in Healthcare Industry and Innovation

this is easily one of the slowest growing industries in the entire space.

Compared to two decades ago, hospitals, overall, still function pretty much the same way.

The reason, as Richie Etwaru says, states are its lack of innovation.

This is pretty surprising when you consider the fact that this space, in particular, has some of the smartest and well-educated people in the entire world.

A blockchain is a time-stamped series of an immutable record of data

Each of these blocks of data is secured and bound to each other using cryptographic principles

The reason why the blockchain has gained so much admiration is that:

  • It is not owned by a single entity
  • hence it is decentralized
  • The data is cryptographically stored inside
  • The blockchain is immutable, so no one can tamper with the data that is inside the blockchain
  • The blockchain is transparent so one can track the data if they want to
Blockchain and Decentralization

It is a pretty simple concept.
Our population exploded thanks to improved medical care in a large part and our businesses became a lot more complex.
All the records that are stored within the blockchain, isn’t saved inside one centralized storage unit.
Multiple computers are running within the network who own a copy of all the data in the blockchain.
This is why, whenever anything is updated in the blockchain, all the nodes in the network get notified of this at once.
This is what we mean by decentralization.
There is no single source that is in charge of all the data anymore.

Information Blocking

Information Blocking

In the healthcare industry, information blocking is described as the result of “an unreasonable constraint imposed on the exchange of patient data or electronic health information.”

According to the U.S. Office of the National Coordinator for Health Information Technology, there are three

criteria for identifying information blocking:

  • been interference
  • been knowledge
  • There is no reason for the data to not be accessible.

Information blocking practices that involve unreasonable interference and awareness are a huge detriment to efficient healthcare practice.

Blocking can take place because of policies that prevent the sharing of information as well as practices that make sharing extremely impractical.

The reason for this is pretty straightforward.

Hospitals don’t want to lose out on patients and want to make it as difficult as possible for them to want to move on to another hospital.

In this digital age, this should have been a draconian practice, but various surveys and studies say otherwise.

After surveying 60 HIE leaders, it was discovered that information blocking is extremely widespread and the various actions that have been taken to curb it are still extremely ineffective.

50% of respondents that have been studied by Adler-Milstein reportedly engaged with health IT companies by participating in information blocking.

A quarter of these respondents also said that hospitals and health systems are guilty of this practice.

According to the researchers, information blocking can be curbed by one of the following methods:

  • By increasing transparency so that every action that has been taken
  • by the participants can be accounted for.
  • There should be a strong financial incentive so that the participants will want to share information.
  • A collaborative relationship between health IT companies, hospitals, and HIEs could further curb information blocking.

Alright, so now we have acquainted ourselves with the interoperability issues that are eating up the healthcare industry from the inside. Now let’s see how the blockchain is going to help solve this issue

Conclusion

Blockchain technology is expected to improve:

  • medical record management
  • the insurance claim process
  • accelerate clinical
  • biomedical research
  • advance biomedical and healthcare data ledger.

With blockchain technology, patients can connect to other hospitals and collect their medical data automatically.

Blockchain can put the patient at the centre of the health care data ecosystem, enabling them to hold their record and control providers’ access to it.
Blockchain can turn the EHR market on its head by creating secure, flexible and enforceable business associate agreements.

Artificial intelligence (AI) in healthcare is the use of complex algorithms and software to emulate human cognition in the analysis of complicated medical data.
The primary aim of health-related AI applications is to analyze relationships between prevention or treatment techniques and patient outcomes.

according to a report by consulting firm Deloitte Consulting LLP:
“Blockchain technology can potentially transform healthcare”

  • putting the patient at the centre of the healthcare ecosystem
  • increasing the security, privacy
  • interoperability of health data

It puts consumers in control of health and well-being.
Additionally, AI increases the ability for healthcare professionals to better understand the day-to-day patterns and needs of the people they care for.
with that understanding, they can provide better feedback, guidance and support for staying healthy.

 

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