July 7, 2014 - Digital health will be at the core of transformation in healthcare
The world is rapidly changing around us. There is growing consumerism, a demand for transparency and convenience at the swipe of a finger. This has thrown up new leaders across industries be it retail or banking or publishing. Digital transformation has enabled the online market place like Snapdeal.com to have more than a billion dollar transactions, and offer discounts that are much higher than the season’s discounts of a normal retail store. The patient consumer today is already used to dashboards in his car alerting him to possible problems in his car or at home. It is just a matter of time before this consumer will demand, and not just expect, the same level of monitoring and reporting about his own health.
We are already seeing this trend with fitness trackers and heart rate monitors. The increasing focus of venture capital in startups around digital health indicates this trend is here to stay. Digital health is going to be at the core of transformation in healthcare. The future of medicine and healthcare is poised to be predictive, preventive, personalised and participatory medicine focused on preventing illnesses and enhancing wellness through patient’s participation. Are physicians, hospitals, insurance companies, patients (consumers), government, and administrators ready to embrace this change, is a question to ponder.