[Technology giants march into the medical market on a large scale and traditional medical care is facing changes. The most advanced medical equipment, cutting-edge treatment technologies, and the most outstanding medical talents are all obvious advantages that the American medical industry has. But for a long time, the U.S. medical system has still been criticized.
In the face of the $3 trillion medical and health market, technology giants such as Amazon, IBM, Google and Apple are using modern technology to completely transform this traditional industry to solve the long-standing problems in the industry and make the public healthcare more affordable and efficient. , easy and convenient.
From patients to doctors, from hospitals to insurance companies, this transformation has penetrated into all aspects of the medical health market.
1. There is a huge opportunity in the problem
With the aging of the global population, the incidence of various diseases has risen, and medical expenses have continued to increase. This is a rigorous reality that cannot be avoided in the face of medical systems in various countries.
It is predicted that by 2020, the global medical expenditure will reach 8.7 trillion US dollars. Taking diabetes as an example, its incidence is increasing. It is expected that by 2020, 642 million people will be affected.
In the United States, it is estimated that by 2060, the population aged 65 and above will reach 98.2 million, accounting for 23.6% of the national population.
The shortage of medical staff and related professionals cannot meet the increasing demand for medical care.
Therefore, changes in the medical industry are imperative.
Bill Frist, a former US senator and heart and lung transplant surgeon, said that "a critical part of the health care reform involves the use of technology to solve problems such as access, value, and cost."
To this end, numerous medical technology companies and technology giants are looking to enhance the overall efficiency and effectiveness of the healthcare industry through the application and integration of the latest technologies such as mobile Internet, big data, artificial intelligence, augmented reality, and wearables in the medical industry.
This process of change is accelerating. It is estimated that by 2018, 70% of medical institutions in the world 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 healthcare 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 hospital up to 16% of the cost. Remote patient monitoring technology can save the medical system $200 billion over the next 25 years.
2. What are the tech giants doing?
"No tech company is not involved," Dr. Topol of the Scripps Research Institute in the United States said. "Many companies think this is an area that takes into account both saving lives and huge business opportunities."
This is why the major technology giants marched into the medical market. Through their full use of their own strengths, they can lay out their products, services, and platforms.
Amazon
In addition to investing in cancer detection companies such as Grail and other medical technology companies, Amazon also intervenes in the medical industry through its own platform and products, and tests its smart speaker Echo in order to become a home health care 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 establish a new health insurance company for US employees to reduce medical costs.
apple
Apple Inc. specializes in the research and development of consumer healthcare products and acquired Beddit, a sleep tracking technology company; Apple ResearchKit, a medical researcher, to help doctors diagnose various diseases; and its health app is designed as a database for storing various data.
As Apple stated, “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 new ones. Sexual medical research."
Alphabet (Google Parent Company)
All of Google’s moves are data-centric. Its goal is to address age-related diseases and to establish itself as a high-tech company in the data-centric life sciences field; to acquire applications that use smart phones to monitor health signals. VerilyLifeSciences, a division of Life Sciences, a division of SenosisHealth, has created tools to put health data into action.
IBM
IBM started with the medical industry in two aspects. On the one hand, it promoted Watson Health Technology, an artificial intelligence product, to improve 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. The 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 becoming more and more mature. 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 for self-testing 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 virtual human knowledge learning experience for medical students and doctors. For example, Echopixel, an interactive virtual reality medical software developer, has added 3D visualization enhancement capabilities to medical scanned images to make 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 conducted on mobile devices. 80% of doctors already use smart phones and medical apps. 72% of consumers regularly access drug information via smartphones. Patients can also get prescriptions and medical records through the cloud.
Wearables and Health Management APP
With a smartphone, patients can complete oxygen, heart rate, blood pressure, and body temperature testing at home and send measurement results to doctors, 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 (IoT) enables the interconnection of medical data in hospitals, helps reduce medical errors, predicts and prevents health problems, and provides patients with more personalized care.
Overall, the medical industry is undergoing tremendous changes. The participation of technology giants, especially Internet giants, will become the greatest 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 undergo dramatic changes. Just as Yitzhak Peterburg, CEO of Teva Pharmaceuticals, said, “Our competitors are not just Novartis and other pharmaceutical companies, but also Amazon and Google.â€
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