In 2023, the health tech sector is predicted to rise by USD 50 billion. Established corporate houses are already taking holdings in new-age health-tech firms and allocating investments to the field, signaling big changes in the healthcare industry. The pandemic has given a boost to the healthcare business, particularly health-tech, where both large-scale and small-scale developments are taking place and are projected to intensify in 2022.
Electronic medical records (EMR):
The government is currently focusing on electronic health records (EHR). The government hopes to make patient data easily available amongst healthcare practitioners, academics, and policymakers through the National Digital Health Mission and a unique Health ID. With digital patient information, healthcare may be given more effectively, allowing for improved coordination between hyper specialties and, eventually, proving to be more cost-effective for the patient.
Machine learning and artificial intelligence
Data collection alone isn’t enough to propel health-tech forward. Preventive analytics and natural language processing, aided by AI and machine learning, will be critical in medical decision-making at the patient and policy levels. Deep learning algorithms are already being used by health tech businesses to analyze samples, understand and infer reports faster than traditional methods, and spot reoccurring dangers in patients. With electronic health records at the vanguard of the health-tech movement, AI will continue to be a trend in the future.
Telemedicine is becoming more popular.
Prior to the pandemic, telemedicine was limited to test projects and initiatives within the Ministry of Health. There were also legal difficulties with regard to healthcare delivery carelessness. However, the pandemic has catapulted telemedicine to new heights. And, as previously stated, telemedicine permits the storage and transfer of electronic health records, which can benefit in the effective delivery and precise investigation of disorders. Online follow-up consultations are also less expensive than going to the doctor in person. Due to poor and unpredictable networks, video and audio call distortions are a struggle to overcome.
Medical data privacy and security
As medical data moves between stakeholders, it will be vital to have safeguards in place to secure it from malicious actors. Having this data on the cloud provides an obvious simple fix, allowing us to customize access to sensitive data. Healthcare professionals are not allowed to see financial or billing history, and administrative staff is not allowed to see sensitive medical information. As a result, data security will increase. In all circumstances, the patient should give their permission for their data to be shared.
The quick expansion, adoption, and acceptance of the aforesaid trends are predicted to cause huge changes in the healthcare business, which bodes well for India, which is expected to grow at a faster pace in 2022.
Medicine that is tailored to the individual
In the West, wearables and gene mapping have already contributed significantly to customized treatment. Some of these uses will be seen in India as well. Wearables enable self-monitoring of one’s health outside of clinics and hospitals. New-age health tech companies would love to have access to that information. Wearables provide effective diabetes and cardiac monitoring in older people, which is crucial for our demographic because we are one of the most at-risk populations for these noncommunicable diseases in the globe.