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There is no questioning the fact that digital tools have revolutionized a staggering variety of industries. Even before digital tools such as artificial intelligence existed, the healthcare industry had made serious strides in terms of technological growth.
The most evident effect of this can be seen in the improved average life expectancy in almost every country, globally.. More recent evidence of the same can be seen in the fact that the world produced nearly 10 different variations of vaccinations for a previously unrecognized virus, the SARS COVID virus. Not to forget, modern healthcare practices have also helped countries around the globe to restrict the spread of the virus and minimize the human and resource cost of the same.
In addition, , the recent pandemic also taught us that there is an enormous scope of further growth and innovation in the healthcare industry. This is where digital healthcare tools become relevant.
The Digital Health vertical focuses on digital technologies that have disrupted traditional delivery models and transformed the culture of patient care, such as artificial intelligence, big data, blockchain, and cloud technology.
While many of these technologies are in the infancy stage and haven’t found mainstream applications, they are expected to completely change the way our society approaches healthcare. So much so, that experts are calling patient data the “new healthcare currency” and expect these technologies to fuel economic growth worth several hundred billion dollars in the healthcare industry.
With the right analysis tools, the patient data that we have today is expected to shift the focus of the healthcare industry from volume-based care to value-based care. The application of digital tools to healthcare is expected to enable more personalized healthcare for patients at a scale that was unimaginable just a few years ago.
BIS Research has been tracking and researching the development of these technologies and their applications in the healthcare industry for several years. Our objective of doing this is simple, to help business leaders across the globe identify the right opportunities emerging in the healthcare industry and invest in them at the right time.
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