Healthcare providers worldwide are feeling the pressure to change. Many are being urged to deliver accountable care – providing the best treatment in the most efficient way. As a result, healthcare organizations are actively searching for technologies that can help achieve these effectiveness and efficiency goals.
Many healthcare organizations have geared up to capitalize on the opportunities of wearable technology, and wearables are already reducing the burden on numerous hospitals and clinics through remote patient sensors and wellness apps that can monitor chronic conditions.
The benefits of Big Data from wearable technology
Health data from wearable sensors and other mobile devices can be combined with related healthcare data from genome studies, electronic medical records, treatment outcomes, and clinical trials. According to the SAP eBook Connected Care: The Digital Pulse of Global Healthcare, the medical insight gathered from Big Data technology can reveal connections between data sets to achieve groundbreaking insights into human health and disease.
Here are a few examples:
- Researchers can improve patient outcomes and identify high-risk populations through detailed data analysis
- Pharmaceutical research and development (R&D) labs can use clinical trial data to measure drug efficacy
- Healthcare providers can use statistics to determine the effectiveness of prevention programs.
The emergence of a new order in healthcare
As technology continues to play a greater role in healthcare, the medical field is undergoing a significant transformation. Lines are blurring between traditional healthcare players, and new business models are emerging, according to an Accenture article on disruptive forces in healthcare.
This new order includes:
- Lean innovators: Healthcare or pharmaceutical companies that combine efficient manufacturing and lean supply chains to challenge existing cost structures, productivity, and operating models
- Value innovators: Product-centric scientific companies usually focused on specialty therapeutics and patient services to improve outcomes
- Around-the-patient innovators: Healthcare companies focused on improving systems by integrating therapeutics, devices, and services with clinical management processes
- New health digitals: Companies focused on changing how and where patient care is delivered using large ecosystems of digital apps, technologies, devices, and the cloud
These companies are appearing from within and outside the existing healthcare industry.
Collaborating to survive digital disruption
According to the SAP Connected Care eBook and the Accenture article, much of the business model transformation in the healthcare industry is the result of collaboration across industry boundaries. As different companies are pushed to collaborate and share more data, innovative new products and services combine to improve patient outcomes.
Some of the emerging partnerships include healthcare insurers teaming up with technology companies for health monitoring and analytics services, medical device and technology companies partnering with pharmaceutical companies, and healthcare providers managing risk with life sciences firms.
To succeed in this shifting environment, healthcare organizations should:
- Redefine their strategies and implement new business models to prepare for disruption
- Embrace collaborative technologies and build innovative partnerships
- Encourage leaders at all levels to think differently and act as integrators
In today’s shifting healthcare field, the pressure to change is being felt by most medical firms and industry players, and only the most agile and innovative partnerships will survive the digital disruption.
For more details on how technology is changing the future of healthcare, download the SAP eBook Connected Care: The Digital Pulse of Global Healthcare.
Discover the driving forces behind digital transformation in the SAP eBook Digital Disruption: How Digital Technology is Transforming Our World.
See how the digital era is affecting the business environment in the SAP eBook The Digital Economy: Reinventing the Business World.