Health Strategy Review
health management, engineering
and technology review
Joaquim Cardoso MSc.
Senior Research and Strategy Officer (CRSO) —
for Health Strategy Research
Chief Editor — for the Health Strategy Review
Chief Advisor — for Health Strategy Advisory
July 25, 2023
What is the central message?
The COVID-19 pandemic accelerated the adoption of health technology within the healthcare industry, and this rapid advancement is expected to continue even after the pandemic is over.
The increased adoption of telehealth, data-driven healthcare, and artificial intelligence (AI) applications, along with growing investments in health tech, demonstrates the industry’s commitment to optimizing workflows, improving efficiency, and enhancing patient outcomes through technological innovations.
The pandemic acted as a catalyst for the transformation of healthcare, and this trend will have a lasting impact on the way healthcare is delivered and experienced in the future.
DEEP DIVE
The COVID-19 pandemic has sparked a rapid acceleration of health technology adoption within hospitals and health systems, and this trend is expected to continue in the post-pandemic era.
CIOs and industry experts believe that the pandemic acted as a catalyst for the adoption and advancement of digital health technologies, particularly in the areas of telehealth, data-driven healthcare, and artificial intelligence (AI) applications.
The pressure to innovate and digitize healthcare operations has not diminished after the pandemic, as organizations seek to optimize workflows, increase efficiency, and improve patient outcomes.
Statistics:
In 2021, venture capital funding for health tech reached $23.8 billion, representing a significant increase from the previous year.
This surge in investment demonstrates the growing demand for digital health solutions and the belief in their potential to enhance the quality and efficiency of care.
Examples:
Telehealth: The pandemic highlighted the need for telehealth services, allowing patients to receive care remotely when they couldn’t visit hospitals or clinics.
The adoption of telehealth has proven effective and is likely to continue, especially for follow-up consultations, mental health services, and remote patient monitoring.
Data-driven Healthcare: The healthcare industry is placing more emphasis on data-driven decision-making, leveraging health tech to analyze and utilize patient data efficiently.
This approach enables better insights into patient conditions, personalized treatment plans, and predictive analytics for early intervention.
Artificial Intelligence and Machine Learning: AI and machine learning are expected to accelerate health tech advancements.
AI can aid in tasks such as medical imaging analysis, drug discovery, disease diagnosis, and treatment planning.
AI-driven chatbots and virtual assistants can enhance patient engagement and deliver personalized health recommendations.
Financial Pressures and Efficiency: The financial challenges faced by the healthcare industry contribute to the ongoing need for health tech adoption.
Organizations seek to streamline revenue cycle processes, reduce costs, and create efficiencies through technology solutions.
In conclusion, the COVID-19 pandemic accelerated the adoption of health technology in hospitals and health systems.
The industry’s focus on telehealth, data-driven healthcare, and AI applications, coupled with increasing investments in health tech, indicates that this trend is likely to persist beyond the pandemic era.
As organizations strive to optimize care delivery and enhance patient outcomes, the integration of innovative health technologies will continue to play a crucial role in shaping the future of healthcare.
This is an Executive Summary of the article “Why the pandemic-era acceleration of health tech isn’t going away”, authored by “Naomi Diaz”, and published by “Beckers Health IT”
