According to Forrester data, the healthcare industry is estimated to spend up to $66 billion in technology budgets in 2017. In fact, healthcare systems are expected to see the most growth in business technology application spending as the remit for software in the industry expands. While the prospect of increased investment in health IT is exciting, data also show that 70% of digital transformation projects are expected to fail by 2018. With such a high risk for failure, how can health IT safely
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Health IT & Digital Health-Opinion | Op-Eds | Guest Columns | Analysis, Insights - HIT Consultant
Research: 6 Success Factors for Digital-Enabled Health Coaching
Majority of mHealth app solutions are still operating outside the traditional healthcare market. App supported coaching services are more and more seen as the missing bridge between digital health startups and healthcare incumbents. Coaching services are a win/win for both sides. Best in class app supported coaching services are built around 6 success factors.App based coaching services are being offered by medical condition management apps that concentrate on a certain condition as opposed to
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Curing Healthcare’s “Tapeworm Effect” with Health IT
The joint venture just announced between Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. is anticipated to bring profound transformation to the healthcare industry. By joining forces, these three giants hope to leverage their technological, sales, and investment expertise to address and resolve the many inefficiencies in the current U.S. healthcare system. The objective of this partnership is to harness their considerable scale and operational efficiency to manage healthcare’s rapidly
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Why AI’s Impact on Healthcare Will Be Far-Reaching Beyond Cost Savings
According to a recent report, the market for artificial intelligence in healthcare was worth over $600 million in 2014. By 2021, this figure is expected to rise by 11 times to $6.6 billion. Healthcare is widely regarded as one of the premier industries destined for AI-led transformation. The reasoning is simple: AI is widely prescribed as an antidote for healthcare’s high costs and an enabler for better health outcomes and experiences.However, the industry has been slow to realize the
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Can NLP Text-Mining Transform Drug Discovery & Development for Biopharma?
Healthcare is in the midst of a data explosion, thanks to the widespread adoption of electronic health records (EHRs), the increased sophistication of insurance claims databases, and the growth of social media. These real-world data provide critical insights into the health of patients and can be leveraged to advance pharma and biotech initiatives that improve the delivery of care.This wealth of clinical data is particularly valuable for organizations seeking to understand the real-world impact
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5 Benefits Of Using Blockchain Technology in Healthcare
Blockchain- the technology that took the world by storm by its revolutionary work in data management and exchange, especially in the financial sector. Its immense success across different industries has left the healthcare world rattling with questions too. People are calling it the ‘answer to interoperability,’ and the ‘technology that can solve healthcare’s looming problems,’- but if the confusion looms, blockchain will take double the time to make a difference in healthcare.Let’s try to
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Medical Wearables: How Next Generation Devices Will Change Healthcare
Medical patient monitoring devices are poised to disrupt the healthcare industry. According to Markets and Markets, the global market for medical wearable devices is projected to reach $12.1 billion by 2021, with the United States representing the largest market worldwide. With the ability to enhance the healthcare system by aiding in the remote monitoring of patients, wearables provide real-time access to health records and provide quicker diagnosis and treatment of conditions.They are
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Why 2018 Will Be A Landmark Year for GE, Siemens, Canon and Philips
With the new year dawning, the competitive landscape for global medical technology is mired in uncertainty. Of the “big four” vendors (GE Healthcare, Siemens Healthineers, Philips and Toshiba Medical Systems) three are undergoing radical change, creating perhaps one of most volatile competitive market environments for some time. Add to this the visible presence of new market entrants from informatics, outsourcing, consumer technology and the rapidly growing artificial intelligence sector, and
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Understanding The Hidden Costs of MPIs: 3 Things to Know
Patient matching is one of the major challenges facing the US healthcare system. It is becoming much more difficult as we enter an era where the amount and diversity of patient data is exploding with patient portals, patient engagement applications, telemedicine, and personal health records. Simultaneously, patient matching is becoming exponentially more important for patient safety, as well as to lower costs, to enable population health analytics, and to exchange patient information with other
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Is Patient Experience a Catalyst for Payer-Provider Collaboration?
The increased financial responsibility on the part of patients and developing options in telehealth and evidence-based care have made personalized, consumer-friendly information access a growing necessity for both providers and health plans.This shift has incented insurers and providers to collaboratively approach the patient both clinically and as a consumer of care. However, if a collaborative effort based on consumer experience is to work, it’s critical for these healthcare entities to focus
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