What is the future of healthcare in terms of digital transformation? McKinsey survey conducted analysis and research of modern digital trends in the healthcare domain, and in what direction healthcare should move following these results.
Before our era, there were two ways of digital transformation in healthcare, starting in the 50s. Today, we are witnessing a third way if a full digital transformation in the healthcare domain. Full digitalization means the implementation of new operating models, digitalization of the entire enterprise, and the use of innovative digital products.
McKinsey survey has denied the most common myths related to healthcare innovations. The first myth is that people don’t want to use digital services for healthcare. Healthcare is more conservative domain and due to its sensitive nature of medical care, patients are more likely to use old-fashioned methods. The results of the McKinsey survey show that the only reason why patients don’t adopt digital transformation services in healthcare is just that they don’t meet their need. Poor quality of these services is the main reason. The results of the survey showed “more than 75 percent of respondents would like to use digital healthcare services”.
Another myth is that digital services are only for young people. The survey proved opposite that all observed groups are willing to use digital services in healthcare. However, older patients still prefer more traditional digital channels like emails or websites, while younger patients are more open to more innovative channels like social media, etc.
There is also a myth that patients want innovative features and apps. In reality, patients just need proper access to information and ease of use of digital products. Another myth is that “A comprehensive platform of service offerings is a prerequisite for creating value”, but according to a McKinsey survey, that “it can be smarter to start small and act fast.”
The third wave of digitization in healthcare: What does this mean?
The new era brings us more technological advances, and today healthcare rebuilds its operations using these technologies. There are also concerns regarding the replacements of human labour by machines or robots. However, Accenture Consulting Agency highlights five major factors, forming a new health care system that puts a person first. Among them are intelligent automation, mobile labour resources, a platform economy, predictable transformation and trust in digital technologies. These five factors enhance the role of the human in health care: the role of doctors, administrators, researchers, payers and, of course, patients.
The most popular digital tools in healthcare for today are AI, machine learning, and IoT. According to Gartner, the market for portable devices will increase: in 2018, 347.5 million devices will be sold, and by 2021, annual sales of portable devices will exceed 500 million units.
Different calculations show Research and Markets, the market for medical portable devices will grow from $ 6.22 billion in 2017 to $ 14.4 billion in 2022 .; the cumulative average annual growth rate in the period under review will be 18.3%.
Concerning intelligent automation, about 70% of managers in healthcare are increasing investment in artificial intelligence, 69% – in machine learning. For doctors, intelligent automation extends diagnostic capabilities, speeds up the correct diagnosis. At every stage of the healthcare system, from laboratories to post-hospital care, sensors collect data that can be used by doctors, and nurses, as well as by the patients themselves, to improve treatment outcomes.
The healthcare industry is responding to any changes extremely slowly, we will witness how more and more medical institutions will introduce advanced technologies and innovations in order to survive in an atmosphere of fierce competition prevailing in the healthcare industry.
Subscribe to our blog here and now