Digitization May Be the Future of the Healthcare Sector

A report that was recently released highlights that medical service leaders from various countries believe that being prepared for crises that may arise in the future and strengthening resilience should be a top priority. The senior healthcare leaders from countries such as India, Germany and the United States, were questioned about their digitization plans. Their responses were recorded through surveys.

The coronavirus pandemic has affected many industries and economies, with more nations adopting telemedicine in their healthcare sectors and using video and phone appointments to provide consultations, as opposed to in-person visits. IDC, an industry analyst firm, forecasts that in the near future, more than half of all patients will have access to healthcare through a digital front end.

The report states that Germany, the Netherlands and France scored highest in the surveys, with the shift to virtual and remote care being led by the Netherlands, India and the United States. The report also found that more than 60% of healthcare leaders who were surveyed have been investing in digital health technology. However, this number decreased to below 50% when they were questioned about their short-term investment levels.

With regard to investments, machine learning and artificial intelligence deployment seems to be a major focus.

More than 10% of healthcare leaders surveyed revealed that their top priorities were AI investments, with more than 30% of this number noting that they planned to do so in the near future. Their goal is to have artificial intelligence forecast clinical outcomes and assist in clinical decision-making. This coincides with the shift to value-based care, where forecasting patient outcomes will play an important role.

Under value-based healthcare models, providers will be paid not for the number of patients they treat but for boosting health outcomes. The focus will be to avoid chronic ailments such as high blood pressure and diabetes and treat injuries and diseases more quickly. Thanks to prescriptions, interventions, tests and fewer doctor’s visits, both the patient and the healthcare system will incur lower costs and there will be better health outcomes.

The analyst company predicts that in the next five years, more than half of the medical imaging processes will utilize artificial intelligence in guiding treatments and detecting ailments. Many healthcare leaders are of the opinion that investing in artificial intelligence is key for the future of medical facilities.

However, there are some barriers to the healthcare sector’s digital transformation that may need to be addressed. For instance, a lack of technology experience among staff. This highlights the need for digital training to be conducted for healthcare service providers. Additionally, data security, interoperability and governance issues need to be addressed.

The push to make digital health an accessible reality for all is being aided by the innovative work of lots of companies, such as RYAH Group Inc. (CSE: RYAH) which makes a series of IoT devices to make telehealth possible.

NOTE TO INVESTORS: The latest news and updates relating to RYAH Group Inc. (CSE: RYAH) are available in the company’s newsroom at https://ibn.fm/RYAH

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