DATA DRIVEN LIFE SCIENCES AND HEALTHCARE
The future of healthcare and life sciences will be driven by data innovations. Improved data sources and quicker data processing will change how research and medical ecosystems operate. AI technology then consolidates and simplifies data from various sources enabling health care professionals to administer specific, more cost-effective treatments.
THE IMPORTANCE OF MEDICAL DATA HARVESTING
By 2025 it is estimated that 1.2 billion of the 8 billion strong population will be of retirement age. The challenge is how will governments and communities deal with the increase in demand for medical services for the elderly. One solution is to focus on preventive and personalised care to minimise risk and lower costs. In effect made possible by the Internet of Medical Things (IofMT) and other related applications.
POTENTIAL BENEFITS OF IOFMT
These technology-driven ecosystems have opened up ways for insurance companies to track your health routines using wearable data gathering tools, eg. FitBits and Apple Watches. The data accumulated is then used to structure policies based on personal habits. Additionally, offering incentives to encourage preventive care.
Wearables have also allowed for more reliable remote care with real-time monitoring. Thereby alleviating the pressure on medical facilities. As a result it is estimated that by 2022 hospital costs will decrease by 16%.
Another innovation that allows for better quality patient care is Telemedicine. It allows doctors to talk in real-time with their patients from their well equipped practice locations. In 2015 over 1 million “tele-health” patients were treated. This figure increased to 7 million in 2018. Certainly the level of care will perpetually increase. As a result the costs of medical care will ultimately decrease.
Lastly the use of blockchain may be in its nascent phase, but having a central transparent ledger for every patient’s lifelong medical records will allow health professionals to offer improved accuracy and quality of care over the lifespan of the very patient.
NBS Digital Technologies have the footprint to access the best technological minds with the insights of local challenges that require approaches more suitable for that country or region, keeping organisations, business and people in good health.