Technology is making everything easier and with that it is meant that it is doing well to the healthcare sector in more than just one way.
Healthcare sector is vast and growing market. Every day, the industry deals with consumers from all segments of the society. Healthcare holds an important place in our lives. With busy lifestyles and schedules, it becomes hard for people to look after their health in a way it truly needs to be taken. The sedentary lifestyles have made people depend more on artificial factors than natural factors as they are an instant solution to their problems. Among all these processes and decisions about health being taken, the amount of data that gets accumulated every day is huge. It is impossible for the companies in the healthcare industry to keep a tab of all the data that comes in from the patients and customers. Big data has helped the healthcare industry to go digital and manage the huge amount of data easily so that there’s never a problem with pleasing and taking care of the consumers.
The majority of the money is spent on experience but the differentiators are the small things. Customers want the experience but they require a lot more things to be happy now. Their needs are evolving rapidly and in order to match them, maintaining digital data records is necessary, says Vishal Sharma, Managing Director, Everstone Capital Advisors Pvt. Ltd.
Determining needs of the market
Recording and analysing data takes a lot of time but with technology stepping in, it has become easier. Big data has made analysing and keeping a tab of the needs a lot simple. The consumers always are looking for something new and with the changes in the healthcare industry, their expectations also change. Big data helps to solve this problem as when all the data is stored digitally, determining the changing needs of the market and also finding out disease patterns can be done perfectly.
Healthcare is an ecosystem mainly comprising of Healthcare Professionals, Pharmaceutical Companies, Hospitals, Insurance Companies, Device Manufacturers and Patients. All these players are working towards improving health outcomes on a daily basis generating tonnes of data. However, it is important that outcomes of all these players are linked and analysed. A connected ecosystem with real-time data can help detect problems at symptoms level and stop the onset of disease. This will further shorten the time from symptoms to diagnosis to treatment. This will also churn huge volumes of real world evidence leading to improvement in the efficacy of treatment, says Ankit Kumar Goel, Head-Strategy and M&A, HealthCare atHOME.
Focusing more on Patient Care
Electronic Health Records which have been implemented by many countries around the globe help in optimising and centralising patient information. The EHR’s provides a lot of important information which help in aggregating and analysing the health of the patients. It also leads to making decisions easily as to what is required to bring any suitable changes in the routine of the patient.
The behaviour of the patients can also be monitored which can help in determining any good or bad changes in their health. Taking care of patients involves keeping in front a lot of data and with digital help like big data; it has become convenient to keep everything in check.
Analysing Fraud Behaviour
Fraud cases are nothing new to know about. Big data helps in keeping a track record of all the information which is important and also helps in finding out any faults in the records. This has been very helpful in the healthcare industry and also for the other markets where chances of frauds are high and are of various kinds.
Technology has evolved a lot and has been a great help to the mankind. Maintaining records and accumulating data is a big task in the healthcare industry as the market is growing every day and requires attention. The daily data and records accumulated are very large and technology has helped in systematically arranging them to use them efficiently. Big data has been helping the healthcare industry massively as looking after records, facts and data of a huge number of people is not easy and requires a lot of help.