How is technology transforming healthcare at home?

Adoption of digital technologies in the at-home healthcare segment has been an emerging trend since the last few years, yet not really gaining organic momentum until the pandemic struck. Covid-19, an unerring catalyst, brought an accelerated digital transformation in healthcare, especially at home. Healthcare is costly and the rising world population has fuelled demand. The healthcare industry is under pressure to serve the best quality care at an optimum cost to an ever-demanding population. Globally, healthcare organizations have increased their spending on health tech to ensure efficient and speedy services. In addition, advancements in technology, now available at affordable costs, have also contributed to the pace of adoption of health-tech in recent times. The value of the Global Digital Health Market is expected to reach USD 504.4 billion by 2025 backed by public and private healthcare providers spending for a push towards seamless, accessible, and efficient health care.

Healthcare at home – need and importance

An ageing global population, rise in incidences of chronic diseases, busier work lives, and shifting consumer preferences backed by rising smartphone usage and affordable internet, have all steered greater technological innovation in healthcare that is available at home. Health tech brings greater convenience, higher customer satisfaction, and safety along with improved patient experiences. On-demand healthcare for patients, whenever and wherever they need it, has emerged as a trend that is here to stay. A McKinsey study has found that the use of Telehealth is a whopping 38 times above its pre-Covid levels.

Digital transformation for healthcare

Virtual consultation – Telemedicine functions such as virtual appointments with a doctor improve access to on-demand healthcare. This is extremely beneficial for those with mobility issues, people living in remote locations, the elderly, and the ones at high risk from exposure to crowds. There has been a steady rise in patients opting for Virtual consultations instead of in-person visits depending on the type of care required.

Patient Management – Health tech enables doctors to manage patient health remotely with the help of connected wearable devices and IoT (Internet of Things) based sensors. This is particularly useful for seniors and the critically ill.

Monitoring Wellness – Devices like fitness watches and bands that record heart rate, calorie count, blood pressure, daily steps covered, sleep, and other such data help monitor the wellness of individuals in the comfort of their homes.

Virtual Assistants – Virtual health assistants and Chatbots powered by Artificial Intelligence (AI) help with routine tasks, regular queries, customer service, and diagnostics and have brought healthcare to every home and individual.  The global healthcare chatbots market is forecasted to be worth USD 314 million by 2023.  AI in the healthcare industry has the power to transform it from being reactive or treatment-based to predictive or prevention-based.

The adoption of at-home health tech has made it possible for the health tech industry to collect huge amounts of patient data. This data in turn forms the input for Big Data to derive analytical insights that help in further optimizing the delivery of healthcare services. Predictive models help improve efficiencies and reduce costs, facilitating timely interventions to save lives. Data collected from connected wearable devices can help in real-time monitoring for patients who require critical care and trigger a warning when sensing sudden changes so that swift action can be taken in case of an emergency. Machine Learning (ML) models when applied to large amounts of patient data thus collected, help in detecting diseases like cancer at an early stage and forecast many illnesses even before the onset of symptoms.

The healthcare industry realizes that the combination of practitioners’ experience and data-backed decisions elevate patient experience and improve customer satisfaction. It also reduces the possibility of human error, contributing to overall improved levels of service delivery. The rapid adoption of healthcare tech for home use has driven down costs and brought in operational efficiency for the healthcare industry paving the way for further technological innovations. This transformation is still at a nascent stage but the possibilities are endless with new health tech trends emerging every day. For a sustained digital transformation, the solutions need to be indispensable and integrated into our routine life. Also, small fragments of digital transformations need to integrate to comprehensively overhaul healthcare across the globe.