In the last few years, the healthcare industry has witnessed an explosion in both popularity and profits in a new sector of business. Thanks to the conditions brought about by the pandemic, telemedicine is now an increasingly popular format for diagnosing and treating a variety of conditions.
Just a few years ago, the telemedicine market had a size of about $42 billion. However, the industry’s growth rate experienced a remarkable surge, and the market size is now projected to reach a
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Why Healthcare AI Must Maintain Multiple Layers of Specificity
The recent explosion of generative AI has pushed public discourse to a palpable tipping point. Nearly overnight, it seems, we’ve cycled from “must develop and/or adopt new AI applications ASAP” to existential fear, avoidance, and even acrimony.
For those of us who have been working directly in the artificial intelligence space for years, specifically in healthcare, these are both trying and exciting times.
On the “trying” hand, many people, including some AI experts, are raising
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VBC: Improving Healthcare Outcomes With A Strong Payer-Provider Relationship
The last few years have emphasized the need for high-quality healthcare for patients that is accessible and affordable for all. There is tension between stakeholders in the healthcare industry surrounding efforts to keep costs low and increase revenue, while not sacrificing patient experience. Years before the pandemic, the Affordable Care Act (ACA) revolutionized the healthcare industry and encouraged a new approach to balancing all the variables: value-based care (VBC). Whereas providers were
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Why The Time Is Now for Healthcare Provider Cloud Migration
It’s no secret that healthcare is a slow-moving industry. Its hesitancy to change has played out in a number of ways over the years — including its lingering resistance to cloud migration. Organizations holding out on migrating wonder: “Is it really secure? Why take the risk of shifting away from on-prem systems?” Moving to the cloud can feel like a daunting task, but with the right tools and plans in place, organizations can move confidently and securely, finally modernizing today’s digital
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AI in Healthcare: Paving The Way to Healthier Tomorrows, Today!
Captivating innovations like smartphones, the internet, and social media have swept across the globe, reshaping the contours of society in their wake. Today, artificial intelligence (AI) in healthcare brings both breathtaking promises and daunting uncertainties. Neither hype nor panic is helpful. What we need is a sober analysis of the real, practical, and immediate solutions AI can offer to genuine healthcare challenges we face today.
Despite the over $200 billion in venture capital invested
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How to Solve The Talent Shortage in Healthcare, Whether It’s Urban, Suburban or Rural
One of the most pressing issues in healthcare today is the growing talent shortage of qualified medical professionals. These critical staffing talent shortages could jeopardize communities’ access to care and result in dire consequences. The staffing shortage existed before the pandemic, but it’s only worsened during the past few years. According to government reports, 23% of hospitals are experiencing a significant staff shortage.
Since February 2020, hospital workforces have been reduced
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Transforming Healthcare & Life Sciences with 5G Connectivity
With its rapid adoption, 5G technology has the potential to completely revolutionize customer experiences and boost revenue in the life science industry.
Accenture research found that companies which invest in 5G capabilities will grow revenue 2.5 times faster in the next three years. And the life sciences industry is taking notice – according to a survey by HFS Science, the healthcare industry is positioned as the second-largest market for adopting 5G technology. PwC predicts that
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Top 7 Cybersecurity Vulnerabilities for Healthcare Organizations
The protected health information (PHI) entrusted to healthcare providers is more valuable than credit card numbers to cyber criminals. Why? Because medical records contain a cache of sensitive information. Healthcare attacks are a hot commodity for nefarious actors since that data can easily be monetized through fraudulent billing, blackmail, filing false tax returns for rebates, and ordering prescription medication and medical devices.
A recent Canalys study found the evolving threat
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3 Ways to Leverage RPA for Greater Value: Lessons from Healthcare
Despite assertions that healthcare is “burned out on talking about burnout,” the HIMSS 2023 presentations that have kept attendees talking long after the sessions ended included those that use automation to relieve workforce pressures.
From ways to support smarter, more seamless discharge to remote check-ins with tonsillectomy patients, use cases for automation ramped up considerably during the pandemic. That’s a trend that is poised for takeoff now that ChatGPT is dominating discussions at
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Drug-Gene Interactions: Minimizing Risk with Pharmacogenomics
Every individual responds differently to medications, and their reactions can vary greatly. While a specific drug may be effective for one person with no adverse effects, another individual may experience a negative reaction to the same medication. Pharmacogenomic (PGx) testing enables the identification of patients who are prone to adverse drug reactions, individuals who are more likely to benefit from specific medications and those who may require adjusted dosages. As adverse drug reactions
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