According to Grand View Research, the global artificial intelligence (AI) in the healthcare market size was valued at USD 15.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 37.5% from 2023 to 2030, to reach an estimated USD 208.2 billion. That’s an impressive growth rate, indicating the expected value delivery to a mostly early-phase adoption of AI in the healthcare marketplace. With such aggressive predicted growth, many health industry professionals
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How Digital Transformation is Accelerating Healthcare and the Impact on Hospitals in the Future
The pandemic has accelerated the adoption of digital health technologies across the healthcare industry. Digital transformation is now the top priority for many healthcare leaders as they seek to build resilient systems. At its core, this means implementing emerging digital technologies to modify essential operations, processes, and services to ease staff workload and withstand future challenges.
The primary drivers of digital transformation are consumerism, cost, and experience/expectations,
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Consumer Trust: How Healthcare Organizations Can Build Confidence with AI
Trust is a vital component of healthcare. It impacts whether someone shows up for a doctor’s appointment, follows their treatment plan, or plays an active role in their health.
But building trust doesn’t just happen at the front counter, inside the doctor's office, or in face-to-face interactions. Increasingly, consumers are interacting with their health plans through online and mobile touchpoints — and these virtual experiences are no less crucial to building trust than in-person
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Closing Racial Disparities in Patient Portal Usage
Over the last decade, the healthcare industry has experienced an explosion of digital innovation. Simultaneously, shifting consumer preferences around convenience and access to care has accelerated the pace of technology adoption at unprecedented speed, especially in the wake of the pandemic.
The value of these digital tools is manifold: healthcare enterprises report increased operational efficiency, higher quality care delivery, cost savings, and the potential to deliver a more
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What Is A HIPAA-Compliant Infrastructure?
U.S. healthcare companies must comply with the data security and privacy standards defined by the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The purpose of the legislation is to safeguard the privacy and security of protected health information (PHI) and electronic protected health information (ePHI). Failure to comply with HIPAA regulations can result in serious financial fines and reputational damage.
What Determines HIPAA Compliance?
Organizations
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6 Ways Health Payors Can Leverage Intelligent Document Processing for Cost Savings
The prevailing global economic conditions are negatively impacting the healthcare industry. Continuing staff shortages, endemic COVID-19, high inflation rates, and supply chain disruptions continue to drive medical costs higher, worsening what is already a persistent challenge for health insurers.
To offset rising healthcare costs, health insurance payors are challenged to find ways to contain their own costs by streamlining their processes and tightening their belts, which invariably
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Duped by Data? Here’s Why EMRs Are Antiquated & Outdated in Today’s Hospital
Electronic medical records (EMRs) - software systems where physicians, nurses, and other healthcare workers store, retrieve, and act on clinical data - are fundamentally broken. This sentiment is so widely shared among healthcare workers that it has become almost trite to point it out. Patients feel it too - we’ve lost count of the number of times we’ve heard “isn’t it in my chart?” when we ask a question during a clinical visit.
Unfortunately, the vast majority of EMRs do not facilitate
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Bringing The Customer Voice to Life in Healthcare
Voice is a powerful tool. The average person speaks about 7,000 words daily (although anyone who’s spent time around young children knows that estimate is probably low). Yet amid healthcare organizations building a more customer-centric approach to customer experience (CX), many have not included a key piece of the CX puzzle: analyzing the voice of the customer.
The value of unstructured data
Healthcare organizations use a variety of existing touchpoints to connect with their customers.
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Why Data Resilience in Healthcare Needs a Routine Physical
The greatest innovation in healthcare in the last twenty years is something that connects us all… data. At any given moment, healthcare facilities, hospitals and more rely on data to operate more efficiently, drive forward patient care and further develop medical research. Even in the last two years, data has been paramount to the development of mRNA technology that has helped us combat the COVID-19 crisis and even led to a new treatment for type-two diabetes.
The recent medical
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What Role Can Consumer Health Technology Play in Diagnoses?
There’s an ongoing debate regarding the role that consumer health technology, like wearable health devices (i.e., smartwatches), can play in diagnostics, now and in the future. Because this is a relatively new technology, the scope of its potential impact is, at present, only scraping the surface.
Even so, smartwatches and their connected health apps are reshaping the healthcare industry. This technology has the ability to not only make personalized healthcare more widely accessible, but its
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