Compared to the financial services sector where blockchain and AI have, in many ways, revolutionised operations, healthcare has been slower to move with these types of innovation. At the same time, people are living longer but present more care demands on the health system, leading to bed shortages and longer wait lists for treatment. With the NHS creaking under ever-increasing pressures to serve a growing population of the elderly and obese, and all on unsustainable budgets, mobilising technology to provide relief from this strain seems like the only solution to an unfolding crisis. One major trend in healthcare is intervention; the growing focus on prevention rather than cure. The growth in sedentary lifestyles imposes an unsustainable burden on healthcare provision.
While digital health is a simple concept -- using technology to help improve individuals' health and wellness -- it's a broad and growing sector. It can cover everything from wearable gadgets to ingestible sensors, from mobile health apps to artificial intelligence, from robotic carers to electronic records. Why is digital health so important? The industry's aims are diverse and complicated: preventing disease, helping patients monitor and manage chronic conditions, lowering the cost of healthcare provision, and making medicine more tailored to individual needs. What makes the healthcare industry interesting is that those aims could potentially stand to benefit both patients, as well as their healthcare providers.
Prior to the coronavirus pandemic, the use of digital technology in healthcare was on a steady rise; however, the pandemic has spurred rapid development of digital health technology as well as rapid adoption and utilization of that technology in the industry. Digital health holds the promise of increased accessibility to high-quality, patient-centered care that can also increase patient engagement and reduce costs. However, the full realization of this promise may be threatened by policy and regulation that is failing to keep pace with and encourage this evolution. There is no universally accepted definition of digital health. In fact, researchers studying the definition recently came across no fewer than 95 published definitions for the concept of digital health.1 There were, however, some clear patterns: there is an emphasis on how data is used to improve care; there is a focus on the provision of healthcare, rather than the use of technology; and the definitions tend to highlight the well-being of people and populations over the caring of patients with diseases. As used in this article, digital health encompasses the use of digital tools and technologies to improve and manage an individual's or a population's health and wellness.
Artificial Intelligence (AI) is getting increasingly sophisticated day by day in its application, with enhanced efficiency and speed at a lower cost. Every single sector has been reaping benefits from AI in recent times. The Healthcare industry is no exception. Here is decoding the future trajectory of healthcare with AI. The impact of artificial intelligence in the healthcare industry through machine learning (ML) and natural language processing (NLP) is transforming care delivery.
The increasing use of Artificial intelligence, Big Data and IoT devices are changing the pattern of the healthcare business. Neha Rastogi, co-founder and COO of Agatsa, in an email interview with Zee Business online, talked about various aspects of healthcare business and innovations in this space. Do you think Budget 2019 was successful in addressing problems faced by startups? The Budget did address some major areas including simplification of tax compliances and income tax scrutiny. Further, the provision of expanding PMKY by including cutting-edge skills like AI, analytics and 3D printing, etc. are welcome steps.