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Healthcare: What is stopping the trillion dollar industry from functioning optimally

Globally, healthcare is a trillion-dollar industry. In fact, according to a report by Deloitte, the global healthcare expenditure is projected to reach $8.7 trillion by 2020.  It is the third largest industry in the United States if you ignore the state spending, after Real estate and the financial sector.

With the massive scale and numerous players in this arena, healthcare delivery is anything but smooth. To begin with, it is not uniform throughout the world. Even in a developed country like the US, the level of care differs from hospital to hospital.

AI can tackle major hiccups in the delivery of healthcare. To understand how, though, let us look at the various nodes in the network of healthcare.

Healthcare delivery model

Healthcare is not simply a patient seeing a doctor. There are many stakeholders involved in the process. Even though the level of care might vastly differ from hospital to hospital, these stakeholders remain more or less constant.

  • Patient
  • Doctor
  • Hospital
  • Pharmaceuticals
  • Insurance company/payer
  • Caregiver

A Patient’s journey

In a simplistic scenario, a patient feels ill and in most cases, Googles his symptoms. He then decides to see a doctor and seeks an appointment. The doctor examines the patient, seeks the previous medical records, diagnoses the illness, probably orders some lab tests, and prescribes medicines. The patient goes to the pharmacy and obtains the medicines, takes them and the condition may improve. If it does, he is out of the loop for a while. If not, he goes to see the doctor again and the cycle continues.

There are several pain points in this workflow.

Pain points for stakeholders

For the patient, getting credible information is difficult. Getting to see a doctor quickly is the next big hurdle. Sure, if there is an emergency, the doctor sees the patient right away. However, if it is not, the patient has to wait. There are very limited diagnostic tools that a patient can use on his own.

When he books an appointment, he might have to wait to see the doctor. He has to carry the medical records with him and remember to take his insurance details. When he takes the medicines, he won’t always see the doctor once he is alright.

And lastly, he might not have anyone who is undergoing the same trauma to discuss this with. In a doctor’s mind, an illness is serious or not-so-serious. However, for a patient, no illness is small if it is affecting his daily life!

For the doctor, there is only a limited set of patients he can see in a day. They often don’t have their medical records with them. In the recent months, more and more patients have been using health trackers to track fitness, Electrocardiograms, Blood pressure, just to name a few. This information is often not captured because of the plethora of apps used by the patients.

The feedback in the form of follow up from the patient is limited after the treatment. So, there is very little way of knowing the degree to which the treatment worked.

For the hospitals, it is a challenge in exchanging information as not everybody is using the same enterprise systems. So, when a patient is transferred from say, a primary care hospital to a tertiary one, there is no seamless flow of information. It is even more challenging when one of the hospitals is overseas.

For the Pharmaceuticals, they know the value and volumes of SKUs (stock keeping units) sold. However, it is often impossible to know exactly what a particular medicine was prescribed for and to whom, including the prognosis.

For the insurers, the reimbursement workflow is difficult to follow and much efforts go into tracking the existing treatment options, medicines prescribed, as well as treatments given. In addition, it is difficult to track overseas treatments.

For the caregivers, the challenge is knowing what is going on! They get a limited set of instructions to take care of the patient as most of the professional attention is given to the patient. They really have no one to talk to anonymously, and they have to join a support group, if one is available nearby.

To conclude

Healthcare industry has its challenges because the various stakeholders are not connected seamlessly. There is a loss of information at each interface and it deters the whole machinery from operating optimally. And this is where Aimedis comes in the picture.

How is Aimedis going to tackle these pain points? Read our next article: How Aimedis Is Adding Value to the Trillion Dollar Healthcare Industry

(Images: Pixabay, Pexels)
By |2018-06-28T19:51:10+02:00Juni 28th, 2018|Allgemein|0 Comments

How Aimedis is adding value to the Trillion Dollar Healthcare Industry

In the previous article, you saw the various pain points that are impeding the global healthcare industry from functioning optimally. Doctors Michael and Ben, had this in mind when they decided to get the Aimedis team together. With experts and advisors from healthcare technology and blockchain, Aimedis conceptualised the dream of integrating the healthcare system globally.

Role of AI in the Global healthcare industry

Due to its sheer size and spread, it is very difficult to integrate the healthcare industry under one roof. There are too many variables. However, with a technologically aware patient and a forward-looking Hospital chain, the interactions become a bit easier.

Add to this equation the most organised members – pharmaceuticals and insurance, and suddenly, the situation is a lot less chaotic. Using AI and deep learning, Aimedis can add immense value to each of the stakeholders – patients, doctors, hospitals, Pharmaceuticals, Insurance companies (payers), and caregivers.

Let us have a look.

For the patient

As discussed in the earlier article, the pain points for a patient are a lack of access to credible information, delay in interacting with a doctor, and a lack of support group. In addition, there is little to no control over the data generated throughout the patient’s journey through the healthcare system.

Aimedis has solutions for this and much more! Patients can get credible information about their condition through a meticulously curated database collated from credible publications. One can e-visit a doctor through our platform using telemedicine. If one wishes to undergo a medical/surgical treatment abroad, we can help you do that using our chain of partner hospitals.

This covers the physical aspect of an illness. However, using our platform, one can interact with patients who are suffering from a similar illness and form a support group. A patient can interact with others under complete anonymity. And if he so chooses, he can share his data with Pharmaceutical companies that will lead to an advancement of research, and he can earn some tokens by doing so.

For the doctor

It is tough to see all the data pertaining to the health of the patient at one place. There are numerous apps that are not standardised. In addition, he can only see a limited set of patients in the hospital.

Luckily, using our platform, the doctor can access all the information at one place. He can also access medical history of the patient without going through tonnes of paperwork. And if he chooses to, he can consult with the patient remotely, saving his time for other patients. He can also see international patients using our remote consulting feature.

For the Pharma companies

Recruiting patients for a trial is an onerous task. It takes a lot of time doing so, delaying the trial by months. In addition, there is no accurate capture of the drugs administered and the results due to a limited follow-up.

Aimedis, using the blockchain, can make this information available to the pharma companies. This ensures that the overall lead time is reduced and new medicines become available to the patients sooner.

Similarly, for the insurance companies,

Aimedis makes the data available to reduce frauds, saving resources tracking the claims. This also reduces the time for reimbursement and it is a win-win for both the patient and the payer.

Aimedis is making it possible

We are living in interesting times when smart medicine is not a distant future but an actual reality. We are already using a lot of gadgets – fitness trackers, smart scales, sleep trackers, nutrition trackers, apps tracking our daily activities. Aimedis’ vision of integrating all of it and making sense of the data for the betterment of medicine is already becoming a reality.

Also, read AI in Healthcare: Bedside robots could soon be a reality in hospitals in the UK

By |2018-06-28T19:23:05+02:00Juni 28th, 2018|Allgemein|0 Comments