By Cesilia Faustina
Since the start of the COVID-19 pandemic, there has been huge pressure on the healthcare sector to handle huge intakes of patients and demands for healthcare products and services. This obviously has not been easy for healthcare providers, hospitals in particular, but it has shown some great utilization for the health tech sector though.
The coronavirus is changing the way we understand the world, and the way healthcare is operating. Society is coming to terms with the fact that coronavirus is here to stay and are slowly adapting to the new normal. One prominent way communities are handling this new normal is with the implementation of technology.
The pandemic has created a digital system for people to fulfil their healthcare needs. We can see this in cases of the rise of healthcare products through online platforms and virtual healthcare services. According to a report by Deloitte, digital transformation is expected to play a major part in laying the foundation for new care delivery models.
With the healthcare spending expected to rise at a CAGR of 5 percent from 2019 to 2023, we can only expect to witness greater outcome for healthcare technology. The global medical device market size was valued at USD 425.5 billion in 2018 and is expected to reach USD 612.7 billion by 2025. The rise of various software, such as HIS, mobile apps, EHR, and the Cloud, have led to some great technological discoveries and innovation, something many healthcare providers are depending on with the outbreak of COVID-19.
Coronavirus and healthcare technology
Healthcare technology has provided new means to combat the coronavirus in terms of encouraging social distancing and creating innovative ways to communicate with patients. As many healthcare providers are giving out medical advice via virtual communications, we can only expect this trend to develop in the future, as digital health continues to take centre stage with the current health market.
As the pandemic is putting more pressure for healthcare providers, due to rising demands, this will ultimately change the way providers will conduct their services. Software like HIS will play an even more prominent role in the industry and will likely be developed even more to meet greater needs and data.
The Cloud will also start playing a bigger role for healthcare providers out there. The Cloud functions as a great tool to manage the amount of data handled by providers, that can be easily accessed through online means. This will make jobs of employees much easier when dealing with any administration issues and patient information, especially in times where remote working is key.
We will most likely see the Cloud being used on a large-scale basis for various healthcare providers, as many organizations will start to depend on the use for the Cloud, whether during coronavirus or post-coronavirus. Even before the coronavirus started, we witnessed greater dependency for Cloud products emerging; this will surely start to take momentum now.
Mobile Apps and Smart Devices
Mobile applications and web portals have been amazingly useful for handling the pandemic. Social distancing regulations have mandated people with mild symptoms to opt for remote consultation, which encouraged various consultations via video conferences and phone calls. It also helps to reduce the load for many hospitals. Virtual medical consultation is a great idea not only during the pandemic but also after, especially for areas that have trouble reaching medical providers or cannot afford it.
We are seeing more investment towards these technologies and mobile apps and web access will most likely be one of the most popular solutions for the healthcare sector, as well as all sectors out there.
The future of digital health
With all these changes and pressure on the digital sector, we are likely to see new pricing models and value-based pricing for the use of healthcare technology. We will also see more tech startups gain more momentum, as the development of healthcare technology and its current demands will open up greater markets for this sector.
As more and more startups are rising to the challenge, offering different software and methods in helping to combat the pandemic, we are seeing more investors eyeing these businesses, and this will most likely continue as the new normal.
The rising momentum for digital health is opening new doors for the healthcare sector and it looks like it is continuing to build on that momentum, overcoming various challenges along the way. With these changes, we are witnessing emphasis for technology that supports flexibility and integration.
Such a sudden change like the coronavirus will push for software that can support various healthcare needs, such as insurance and financial. To have a healthcare system is great, but we need a system that can support different functions simultaneously in order to reduce cost and have efficient workflow.
We are witnessing more and more healthcare providers heading in this direction in order to provide the best service possible while handling huge amount of demands, all through a single digital platform. That said, we can only expect greater investment for digital platforms that provide a one-in-all capability that can easily integrate with all other relevant systems.
Looks like with the impacts of COVID-19, digital health will continue to be a go-to solution.
For more information about how healthcare technology can help your business, check out ESKADENIA's healthcare system.