The advancements in healthcare technology such as Artificial Intelligence, Virtual/ Augmented reality, 3D printing, nanotechnology, and/ or robotics are optimizing healthcare processes around the world. In addition, hospitals can implement these technologies to provide high-quality healthcare services and speedy diagnosis of disease. This is why advanced healthcare tech is bringing together healthcare institutions and custom healthcare software development companies to design and build solutions in wake of the many challenges faced by providers.
Some Insights Into Healthcare Tech Industry
- The global healthcare market reached a value of nearly $8,452 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.3% since 2014, and is expected to grow at a CAGR of 8.9% to nearly $11,908.9 billion by 2022. (Research and Markets)
- It is estimated that the global big data market related to healthcare in 2016 and a forecast for 2025 period, the market will increase from around 11.5 billion to nearly 70 billion U.S. dollars. (Statista)
- In 2018, the North American healthcare AR and VR industry was valued at 477 million U.S. dollars. By 2028, that is expected to increase dramatically to 4.64 billion U.S. dollars. (Statista)
- The global Artificial Intelligence in the healthcare market size is expected to grow from USD 4.9 billion in 2020 and reach USD 45.2 billion by 2026; it is projected to grow at a CAGR of 44.9% during the forecast period. (Markets and Markets)
- The effective deployment of IoT-based healthcare technologies could help the US save well over USD 300 billion. (Report of Aranca)
- The wearable fitness technology market was worth USD 5.77 billion in 2016 and USD 12.44 billion by 2022, growing at a CAGR of 13.7% from 2016 to 2022. (Markets and Markets)
- The global healthcare chatbots market is expected to touch USD 316.85 million by 2023 at 21.10% CAGR over the forecast period of 2018-2023. (Market Future Research)
- The global telehealth and telemedicine market is expected to grow at a CAGR of 37.7% during the forecast period, to reach USD 191.7 billion by 2025 from an estimated USD 38.7 billion in 2020. (Markets and Markets)
4 Major Trends in Healthcare Technology
TeleHealth
Telehealth is redefining healthcare processes as it lets doctors virtually treat their patients at remote locations. It saves both time and money for patients and doctors alike. Moreover, Physicians can easily follow up with their patients. Healthcare software development services are significantly facilitating the successful deployment of telehealth solutions to ensure flexibility, convenience, and accessibility to everyone procuring healthcare services.
AI / Predictive Analysis
Advancements in AI and Machine Learning have given ample treatment opportunities to healthcare practitioners. Through predictive analysis, doctors can have deeper insights into their patients and catch the disease at initial stages for a cure before it can cause any more damage. In addition, healthcare providers can easily monitor the patient’s progress through AI-generated reports in real-time.
AR/ VR
They are considered advanced technologies and gaining attention among global industries and now including healthcare as well. VR can help patients with mental and behavioral health issues, visual impairment, and other related issues. Moreover, this tech can help doctors to understand the conditions of patients better for personalized treatment plans. It can also provide support to HCPs during surgery, and medical training.
IoT or Internet of Things
IoT-based devices such as wearable technology including fitness bands, blood pressure, and heart rate monitors allow patients to keep track of their health and seek immediate treatment in case of emergencies or spike. Moreover, these bands come with notification features to remind patients of their status including calorie count, appointments, etc.
Advantages of Custom Healthcare Software Development
- Custom healthcare software offers enhanced security features as they are developed in compliance with global healthcare security standards such as HIPAA compliance.
- They are low maintenance. Moreover, in case of outsourcing custom healthcare software development services, you are in for a treat. As they not only develop your product but also regularly upgrade and maintain it; leaving you to focus on other core hospital processes.
- They get the job done better, faster, and more accurately.
- They get the job done better, faster, and more accurately.
- Custom software is tailor-made and offers features suitable for your medical facility alone.
- They can be easily customized as compared to over the shelf solutions.
Important Features to Look For in Your Healthcare Software
Below are some of the common features that every healthcare services application should have:
- Video conferencing feature for doctor-patient communication
- Separate doctor and patient portals for information management
- Search functionality for accessing medical records instantly, even integrate voice search feature for a better experience
- Appointment scheduling
- Enable doctors to send e-prescriptions through file attachments
- Admin dashboard for analytics
- Multiple payments options for virtual healthcare providers
- Access to EHR and EMR
- Notifications and reminders for medication
- Health tracking and symptoms identification
- In-built messenger
