siliconindia | | May 20199Digitisation & Operational EfficiencyWhile digitisation of internal processes for cost reduction has already reaped returns for early adopters, the next phase of technology adoption will be rooted in optimising operational efficiency via digital tracking. Dashboards are proving to be golden in monitoring infectious diseases, readmission rates, average length of stay and more, across hospitals. Analytics is another digital tool that will pave the way for operational improvement and cost optimisation, primarily via artificial intelligence (AI). In due course, AI in image processing will allow radiologists to detect abnormalities and identify high-risk patients. Likewise, morphological examination of blood samples, and subsequent diagnosis, will also be possible with AI. Analytics & AIThe Indian healthcare industry has gradually warmed up to the idea of big data processing. Furthermore, the accumulation of data in large volumes has cast a spotlight on the need for analytics. AI has enabled data to be translated to meaningful insights, clinical pathways and superior service delivery. While analytics AI has already seen phenomenal adoption, we are yet to see medical AI take off in a big way. Until now, automation-led consumer decision-making (enabled by medical AI) has been eclipsed by physician-led decision-making. However, low-income countries like India need to see higher adoption of medical AI due to an acutely disproportionate doctor-to-patient ratio and geographically inconsistent quality care. Wearables and Fitness SolutionsWearables, which were almost nonexistent in India until a few years ago, have seen tremendous traction. Indians, from young to old, are embracing wearables for an array of requirements. While the bulk of these remain in the fitness spectrum, digital wearables are seeing an upsurge in utility in the health monitoring space. With millennials harbouring a heightened health consciousness, wearables and digital solutions are being embraced as imperative tools for wellbeing. In India, the geriatric population could benefit from health monitoring solutions. However, this demographic typically displays resistance to new-age technologies. The only technology solution that has managed to successfully penetrate the geriatric market is fall detection devices.Disruptive Insurance PoliciesTraditional insurance policies are picking up pace in the Indian health-care space. As the penetration of insurance increases, we are seeing novel insurance models enter the market. These are underpinned by systems like internet of things (IoT) and big data, and are designed to be funded as out-of-pocket (OOP) ex-penses by healthcare-seek-ing consumers. Buyers, however, must tread with caution, with the growing emergence of models that ridiculously undercut the cost of opera-tions of hospitals. If these models blos-som, they could, over time, cause significant turbulence for hospitals, hampering sustainable cost man-agement. Policies should be ratio-nally tailored; never at the risk of affecting the viability of business of service providers.Ayushman BharatThis is undoubtedly the most ambi-tious government-run health insur-ance scheme in the world. When ful-ly rolled out, it is expected to cover nearly 40% of the country's popula-tion. That is a substantial customer base. However, the rates that are cur-rently prescribed by the government are extremely low and it would be a challenge to offer quality healthcare at these costs. This is one area that warrants some action. Technology could force service providers to es-chew traditional healthcare delivery models and develop new solutions at slightly better rates. The healthcare trends expected to unfold this year point to one thing ­ as healthcare and technology intersect, India will be a seedbed of tremendous action and exciting times. Wearables, which were almost nonexistent in India until a few years ago, have seen tremendous traction. Indians, from young to old, are embracing wearables for an array of requirements
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