The most advanced medical equipment , cutting-edge treatment technology, and the best medical talents are all obvious advantages of the US medical industry. But for a long time, the US medical system has still been criticized.
In the face of the $3 trillion health care market, technology giants such as Amazon, IBM, Google and Apple are using modern technology to completely transform this traditional industry to solve the long-term problems in this industry and make mass medical treatment cheaper and more efficient. Easy and convenient.
From patients to doctors, from hospitals to insurance companies, this transformation has penetrated into every aspect of the health care market.
1. Huge opportunities in the problem
As the global population ages, the incidence of various diseases rises, and medical expenditures continue to increase. This is a serious reality that cannot be avoided in front of national medical systems.
It is predicted that by 2020, global medical expenditure will reach 8.7 trillion US dollars. Taking diabetes as an example, its incidence is increasing, and it is expected to affect 642 million people by 2040.
In the United States, it is estimated that by 2060, the population aged 65 and over will reach 98.2 million, accounting for 23.6% of the national population.
The shortage of medical personnel and related professionals cannot meet the increasing medical needs.
Therefore, the transformation of the medical industry is imperative.
Former US Senator and Cardiopulmonary Transplant Surgeon Bill Frist said " a key part of healthcare reform involves the use of technology to address a range of issues such as access, value and cost ."
To this end, many medical technology companies, as well as technology giants, hope to enhance the overall efficiency and effectiveness of the medical industry through the application and integration of the latest technologies in mobile Internet, big data, artificial intelligence, augmented reality, and wearables in the medical industry.
This process of change is accelerating. It is estimated that in 2018, 70% of medical institutions worldwide will increase consumer-oriented technology investment, including APP, remote monitoring and virtual care . These new technologies will not only create a more advanced and convenient medical experience for patients but also for medical personnel. .
The study found that more than 80% of consumers said that an important advantage of wearable technology is to make health care more convenient. And 88% of doctors want patients to be able to monitor their health parameters at home.
It is also predicted that within 5 years, wearable technology can reduce the cost of hospitals by up to 16% . And remote patient monitoring technology can save $200 billion in medical systems over the next 25 years.
2. What are the tech giants doing?
“No technology company is involved,†Dr. Topol of the Scripps Research Institute in the United States said. “ Many companies believe this is an area that saves lives and huge business opportunities .â€
This is why major technology giants have entered the medical market in a big way. They make full use of their own advantages and carry out the layout from products, services and platforms.
Amazon
In addition to investing in medical technology companies such as cancer testing company Grail, Amazon has also intervened in the medical industry through its own platforms and products, and tested its smart speaker Echo in order to become a home health tool; at the same time, the company has also strengthened medical supplies. Distribution.
In addition, Amazon has partnered with Berkshire Hathaway and JP Morgan Chase to build a new health insurance company for US employees to reduce healthcare costs.
apple
Apple focuses on the development of consumer health products and acquires sleep tracking technology company Beddit; Apple ResearchKit for medical researchers to help doctors diagnose various diseases; and its health app designed as a database for storing various data.
As Apple claims: “Health care providers can provide the best medical services when they have powerful tools. Our technology helps them work efficiently in hospitals, provide remote services to patients, and create Sexual medical research."
Alphabet (Google Parent Company)
All of Google’s actions are data-centric, with the goal of solving age-related diseases and turning itself into a data-centric life sciences high-tech company; acquiring application developments that use smartphones to monitor health signals Verily Life Sciences, a life sciences research unit of Senosis Health, has created tools to put health data into action.
IBM
IBM started the medical industry from two aspects. On the one hand, it promoted its artificial intelligence product Watson Health Technology, and improved the efficiency of medical institutions through artificial intelligence; on the other hand, it provided solutions for medical service providers through the IBM cloud platform.
3. Application of new technologies in the medical industry
The application of new technologies such as augmented reality, cloud services, wearable devices, and telemedicine in the medical industry is also maturing. The medical habits and workflows of consumers, doctors, insurance companies, hospitals and other roles have also changed due to new technologies.
Consumers can use more tools to self-test in their daily lives and provide doctors with comprehensive health data. With the help of new technologies, doctors can significantly improve work efficiency. On the one hand, doctors are more efficient in diagnosis; on the other hand, access to medical data is more comprehensive and faster.
Virtual/augmented reality
3D training tools provide a virtual human knowledge learning experience for medical students and doctors. For example, interactive virtual reality medical software developer Echopixel adds 3D visualization enhancements to medical scanned images, making medical image analysis more accurate and faster.
Mobile devices and cloud services
It is predicted that by 2018, 65% of interactions with medical institutions will be carried out on mobile devices . 80% of doctors already use smartphones and medical apps. 72% of consumers regularly access drug information via their smartphones. Patients can also get prescriptions and medical records through the cloud.
Wearables and Health Management App
With a smartphone, patients can detect oxygen levels, heart rate, blood pressure and body temperature at home, and send the results to a doctor, making medical testing easier and at a much lower cost than traditional medical methods.
In short, telemedicine can free doctors and do more useful work.
Smart hospital
The Internet of Things enables hospitals to interconnect their medical data, helping to reduce medical errors, predicting and preventing health problems, and providing patients with more personalized care.
Overall, the medical industry is undergoing earth-shaking changes, and the participation of technology giants, especially Internet giants, will be the biggest force for change. This is also the same story that is happening in many industries.
At the same time, the competitive landscape of the medical industry will also change dramatically , as Yitzhak Peterburg, CEO of Teva Pharmaceuticals of Israel, said, “ Our competitors are not just Novartis and other pharmaceutical companies, but also Amazon and Google .â€
Author: Li Xin
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