Digitization of healthcare will upend its supply chain

Patients are increasingly using wearable technology and mobile apps to track and monitor their health, creating interesting implications for the healthcare supply chain. The tech reduces pressure on doctors, hospitals and pharmacies to provide certain necessary services to the patient (an exception -- prescription drugs), but it also allows insurers to glean more accurate health information from the insured. According to the study, which surveyed 2,301 consumers, "The percentage of consumers willing to share with their insurance carrier personal data collected from their wearable devices has increased over the past year, from 63% in 2016 to 72% today." Additionally, "One in five respondents (19%) said they have already used AI-powered healthcare services, and most said they are likely to use AI-enabled clinical services, such as home-based diagnostics (cited by 66% of respondents), virtual health assistants (61%) and virtual nurses that monitor health conditions, medications and vital signs at home (55%)." That could lead to a winnowing of the healthcare industry; as patients rely more and more on technology to deliver certain health services, doctors may evolve to provide only more advanced care, especially if retailers move deeper into the pharmacy and healthcare business. The tech also cuts out the industry middleman, reducing the need for lower-ranking medical professionals whose services are now absorbed by various apps and wearables.