This past year, 2017, has been a challenging year for many industries, and healthcare is certainly no exception. Not only are there major challenges connected to an increasingly aging population and outdated healthcare infrastructure, but the industry is also adapting to the policies associated with a new presidential administration. While technology will continue to be a key part of the future of healthcare, one of the biggest changes will be a shift in mindset from mobile technology to mobile patients.
Most physicians have long enjoyed the benefits of Bring Your Own Device (BYOD) policies. As health systems focused on ensuring doctors had access to state-of-the-art health IT to monitor their patients when they couldn’t be at the bedside, the quality of tools and pace of adoption for nursing solutions did not keep up. In some situations, nurses received bulky phones that could only be used within the walls of the hospital, while physicians needed to download specific apps on their own devices to receive calls from the nurses’ devices. Technical difficulties were frequent. In other situations, health systems tried rolling out solutions to nurses that had been used successfully by physicians. Unfortunately, those solutions were not always conducive to nurses’ workflow.
Over the past couple of years, there have been around 200 merger and acquisition (M&A) deals in the healthcare IT space, driven by high enterprise value and the sheer size of the industry. 49 deals came together in the first quarter of this year alone. These numbers make health IT the highest performing industry in terms of M&A activity in the consumer and retail space, and the second highest in the infrastructure/industrial space.
Between 2018 and 2019, we will see an insatiable need for increased health IT interoperability, with providers putting increased pressure on health IT vendors to deliver. This pressure – combined with the shift brought on by new regulations like MACRA around performance, measurement and outcomes – will drive one of the biggest M&A pushes we’ve seen in the health IT industry.
As an anesthesiologist, my goal is to make the hospital a better, more efficient place to work so that I may provide the best possible care to my patients from the moment they come under my supervision. As part of this, improving a patient’s health record – and our access to it – by using effective mobile technology is an important step to providing holistic care. With nearly half of a physician’s day devoted to administrative tasks, it feels as though the time we clinicians can spend with our patients is getting slimmer and slimmer. Consequently, we want the precious time we have with our patients to be valuable and ensure them that their concerns are being heard and addressed in an efficient manner.
Over the last few years, the healthcare industry has undergone an incredible revolution. Mobility solutions deployed across the care continuum are providing higher quality patient care. The shift from fee-for-service to fee-for-value – no matter how the political environment affects the market – is prevailing. Beyond that, innovation and digital tools are supporting this shift. In the U.S. alone, there are more than 6,000 medical device companies. Around 80 percent of them have fewer than 50 employees. Creative solutions to longstanding problems abound.
As we head into HIMSS 2017, the movement toward precision medicine is at the top of the agenda. The idea of using data to customize care for patients is not new; however, with the passage of the 21st Century Cures Act late in 2016, what was once a far-off dream now seems closer to reality.
But are we really that close? Unfortunately, the answer is no, unless we address the key barriers to success: interoperability and cybersecurity.
When it comes to mHealth, most industrialised nations such as the U.S. and Europe have a head start. Money for healthcare technology investments is available, the infrastructure is in place, and most of the population is already engaged in the healthcare system.
As a country of about 52 million people, South Africa shares many characteristics with its larger brethren. There is a mix of public and private healthcare providers and health insurance plans, physician shortages in key areas, and South Africa is beset by many of the same chronic diseases that industrialised countries face (cardiovascular and obesity-related diseases, diabetes, etc.).