Estimated Industry Size Today:
Estimated Industry size in the Future:
Why the Healthcare Industry is ripe for disruption:
Consumers are increasingly expecting technology to be a part of their healthcare plans. The industry itself has placed an emphasis on areas in which technology becomes a main contributing component: meaningful outcomes, consumerization and delivery methods. To quickly explain these three pillars, meaningful outcomes requires physicians to demonstrate that they’ve actually improved the health of their patients. Consumerization refers to the fact that many patients have no idea what their health care is even costing them and delivery methods can be explained by comparing what Uber did to the transportation market or how AirBnB changed the real estate and hotel industry. People are looking to sew innovation into all aspects of their lives, including their health.
There are a few major issues with the community today. One such issue is connectivity and the resistance to sharing of data. Another, physicians are challenged with spreading their resources to suit a larger community, therefore, decreasing the level of care. Lastly, consumers aren’t interacting with healthcare brands. If you compare the healthcare consumer industry with that of heavy hitters like Amazon, it becomes glaringly obvious that there’s room for improvement when it comes to consumer interaction.
Implementing intuitive interfaces, modern designs, further integration of wearable devices and the ability to share information via mobile devices would help deliver healthcare in a way more in line with what consumers are coming to expect.
Top Trends to Watch:
- Wireless wearable sensors will eventually be prescribed to give healthcare providers data previously unavailable to them.
- Tech companies will form more healthcare partnerships.
- Out of hospital data will integrate with electronic health records (EHRs) systems.