By 2021, the growth of artificial intelligence will have reached $6.6 billion in the US. Global estimates are being forecast at a massive $19.3 billion by the year 2025. This is attributed to the fact that AI is solving a wide range challenges for patients, care providers, and the healthcare industry overall. Yet, the prospects and full benefits of AI has not been fully utilized. There are many reasons why health providers should embrace AI.
No doubt, the healthcare industry needs humans to provide empathetic care that the patients need. It seems rather unsettling at first to think about chatbots and conversational AI in healthcare. But we do come across multitudes of benefits (if and when) we look closer. According to Juniper Research, chatbots will facilitate annual savings of $3.6 Bn by 2022, globally. Furthermore, Zion Market Research predicts that the market is currently valued at $ 123 Bn.
CHENNAI: Even as India-based Omega Healthcare plans to hire about 1,200 - 1,500 people to explore newer markets like the United Arab Emirates this year, the company says there is very little scope for growth of data analytics and cloud intelligence firms in the Indian healthcare sector. While retail, manufacturing and banking industries have adapted to cloud-based systems and use data analytics to find better processes, Indian healthcare providers have trailed behind such sectors. For instance, Omega Healthcare, which extends data and revenue management services to hospitals, health insurance and health care providers, said the absence of a government mandate on health insurance is a major reason for the sluggish growth. "Healthcare delivery in the country seems to be improving, but the lack of attention to tracking and collecting patient care data by hospitals and healthcare providers that sits in paper files and is not rendered for further research and development of drugs or betterment of healthcare is a major issue," said Gopi Natarajan, Co-Founder, and CEO, Omega Healthcare Management Services Ltd. A recent study by medical journal Lancet said that even as India has seen improvements in access and quality of healthcare since the 1990s, the country's score of 41.2 points on the healthcare access and quality (HAQ) index is well below the global average and ranks lower than countries like Bangladesh, Sudan and Equatorial Guinea.
Maya Ward, associate director, Gresham House Ventures, writes about how the pandemic means that a hybrid healthcare model is readily achievable. While the heroic abilities of the NHS have been on display throughout the COVID-19 pandemic, the last year has also exposed the longstanding limitations and frailties of our underfunded healthcare system. With an estimated 100,000 unfilled posts and staff turnover expected to increase due to emotional exhaustion, the health service's workforce stands to be further stretched by an ageing population. By 2030, one in five people in the UK will be aged 65 or over – individually costing the NHS 2.5 times more than the average 30-year-old. However, a wave of private investment is flowing into the sector.
The webinar "Avoid the Pitfalls – How to Make Sense of Security and Compliance in the Enterprise Imaging Landscape" will take place Nov 21, 2 p.m. Eastern Time. Sophisticated cyber-attacks and massive data breaches are an ongoing concern for healthcare providers. Organizations are challenged by the ever-changing threat landscape, protecting customer data and being able to respond appropriately to security events. Combined with the task of navigating updated privacy laws, such as GDPR and the changing technical environments, such as the cloud, it is a difficult time to manage healthcare data effectively. This webinar will outline how to address such challenges and make sense of cybersecurity in the age of Enterprise Imaging.