While the costs of drugs are not predicted to reduce in 2017, there are other trends we may benefit from. The healthcare industry is expected to see a rise of blockchain tech, artificial intelligence, and more innovative trends.
Today’s customers are staying up to date with the latest in healthcare tech. Not only are consumers staying on top of the trends but also questioning authorities about everything from the side effects of the high costs of drugs.
Each year, the role of technology grows in healthcare to demonstrate a promising improvement with more benefits to expect. Over 70% of health care companies are said to invest in mobile applications, wearables, remote health monitoring and even virtual care by 2018.
Here are the top 5 healthcare trends to expect in 2017.
Government Fix of Rising Cost of Drugs
Prescription drugs for senior citizens are expected grow by nearly 12% in 2017. On the other hand, wages are also expected to increase to 2.5%. The costs of medication are high compared to other countries. Just because the U.S. allows drug companies to set their price markups. With that, insurance companies are passing the cost through high deductibles to patients.
The cost of medication for diabetes and cholesterol cost more than comparable alternatives at a low cost. More citizens are expecting the government Congress to tackle to issue of the rise in prices. However, they have so far been disappointed. With pharmaceutical companies like Mylan and Valeant, their prices have increased drastically.
Nearly one in ten Americans avoid the use of prescribed medicines due to the high costs. As President Donald Trump mentioned that he aims to bring the drug prices down, pharmaceutical companies are still hiking up the price.
Big Data & Artificial Intelligence
Want to know how Big data and Artificial intelligence can improve the quality of lives? There is no other place than in healthcare. As North America is anticipated to dominate the healthcare market within the next year, big data is going beyond lowering overhead waste and generating revenue. Big data has the ability to cure disease, predict epidemics, avoid preventable deaths and improve the quality of life.
Big data can also help doctors compare data with billions of detailed patient records. This may also contribute to finding the latest trends in the world for better health care and research. Artificial intelligence is almost like reading a bar code. It allows a digital device to recognize individual objects and make decisions based on the data that is stored in the cloud.
Large companies such as Google, Apple, Microsoft, IBA, and Amazon are getting more involved in artificial intelligence. Artificial Intelligence is one of the best reasons of successfully connected home appliances, personal virtual assistants, and autonomous cars. The biggest advantage of AI in healthcare is how the technology improves to save human lives.
With the help of AI, medical information, integrating medical software, cognitive sciences and decision-making may all provide the necessary database for the future of healthcare.
Apple Collaboration in Healthcare
As Apple has been focusing on health for the past two years, the company has partnered with Johns Hopkins, Epic, and Mayo Clinic along with many top researchers in the country. Recently, the tech giant added health features to the new Apple Watch. Apple has also created new software platforms like CareKit, ResearchKIt, and HealthKit.
While the company is already facing competition in remote monitoring and mobile health, Apple is determined to become to “go-to” for patients and physicians alike.
Blockchain to Improve the Healthcare Network
Blockchain technology creates a set database of online exchanges or transactions. This type of technology will provide a safer and secure to of sharing and storing patient health records and pay directly for the service. The technology will allow participants to connect with data in real-time. Each participant can log in to the same network, share information and collaborate – all in safety from being exposed to theft, malice, and forgery.
Parties across the industry or within the organization can safely share information and allow developed applications to unlock wasted resources.
Focus on Senior Health Care
With today’s high divorce rate, aging is slowly being another part of isolation. An upcoming startup company, HomeHero has managing to find the solution to this problem as they offer a variety of in-home care services for senior care. It is a fast and affordable way to find quality home care for senior citizens.
Which of these top 5 healthcare trends are you excited to see in 2017? Comment below and let us know what you think!