Banking & Financial

About Healthcare

Globally speaking, the healthcare industry is at the cusp of a major haul. The major drivers of this changing environment are the reducing healthcare budgets in most economies and the increasing population of elderly across nations.


Therefore, the healthcare industry has to innovate in a manner that they can handle the increasing patient list with reduced funds. The research and development in the healthcare industry is growing strong and there is no shortage of new science, new drugs, and new technology.


However, the challenge remains in the fact that these technology and drugs have to be delivered to the populace and in their lies the challenge. The lack of required infrastructure and a strong team of paramedics is a test that the healthcare industry faces in many regions.

On the other hand, another challenge that the healthcare industry faces are the people coming into the healthcare institutions. With the growing need for instant gratifications, a busy life and most adults being constantly on-the-go; a lot of people would like to jump the long queues in hospitals unless it is absolutely necessary to physically meet the doctor. Thus, the innovation of telemedicine, maintaining medical records online and ordering drugs through the internet was a welcome development.

The Role of Mobile Applications

The implications of web & mobile applications in the healthcare industry is widespread. A number of mobile applications have made it easier for patients to find and consult doctors without leaving their homes, make an appointment, patients record and many more.

These mobile applications are instrumental in helping the doctors and their patients to keep in constant touch, thus allowing instant medical support when required. A major challenge for the 21st century working populace is their constant movement form one place to another. While these travels are made for better life opportunities, it leaves them vulnerable in a new city without the knowledge of healthcare facilities available. Mobile applications, in such situations, can help them locate doctors and also read patient testimonials helping them choose which doctor to approach. Patients using mobile applications to stay in touch with their doctors also ease the process of storing and accessing medical history, making treatment faster.

The Role of AI

Artificial intelligence in the healthcare industry will help doctors and hospitals expiate the problems in areas where the number of doctors is not adequate enough to attend the entire populace. With artificial intelligence doctors can cut down the time required in pathological tests and expedite the treatment by hours. Application of artificial intelligence in the healthcare industry will also help doctors sort through medical reports faster by assisting in analysing notes and reports from a patient’s file, conduct external research, and find case studies of clinical expertise. Another implication of artificial intelligence is the ability to conduct scans that can spot potential cancer risksand vascular diseases early. Artificial intelligence is also an essential value addition in the process of pharmaceutical development. Testing drugs clinically often take over a decade with no guarantee of success. The integration of artificial intelligence would ensure easier analysis of the drug’s composition and their possible impact.

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