3. Remote Patient Monitoring (RPM)
Of the best trends in healthcare technology, RPM occupies a special place. COVID-19 also contributed to turning remote patient monitoring into the current tendency in the medical field. The rise of virtual healthcare takes many forms, including online appointments, remote care, and video conferencing. And the wide range of IoMT devices empowers RPM with even more opportunities.
According to Research and Markets, the global RPM systems market is projected to be worth over $175.2 billion by 2027, compared to $53.6 billion in 2022.
In the long run, hands-free communication is one of the most prominent future healthcare technology trends in revenue cycle management. That’s because RPM saves time and valuable resources for healthcare organizations of any scale. During the pandemic, it revealed its best while dealing with personal protective equipment. In the future, the achievement of RPM can unlock combining hands-free and on-site treatments for delivering the desired service appearance for different patient categories.
RPM significantly contributes to health equity, which means wide access to health services in any geographical, social, economic, and political conditions. It is a huge step forward for humanity that demonstrates how technology can improve the world.
Focus on the Mental Health Care
The global COVID-19 pandemic has drastically accelerated mental health issues worldwide. According to WHO, nearly 1 billion people live with a mental disorder, and in low-income countries, more than 75% of people with the disorder do not receive treatment. In addition, over 700,000 people die by suicide annually, and about 50% of mental health disorders start by age 14.
The enhancements of RPM have played a significant role in coping with these problems. Thanks to telemedicine, patients can receive high-quality help from psychotherapists without putting their physical health at risk.
According to McKinsey and Co, the use of telemedicine has been 38 times higher since February 2020 than it has ever been before and has since stabilized. And most of the remote visits fall on mental health care. Thus, this latest medical technology in 2023 will become one of the key ones in the healthcare sector.
Moreover, healthcare technology opened the doors for the most vulnerable patients, including people suffering from chronic disorders, comorbidities, and other mental illnesses. Previously, they didn’t have access to healthcare providers due to the scarcity of resources, the shame of showing up publicly, and racial inequity. But today, all they need is to have an Internet connection and launch a communication platform.
Deloitte Global predicts The size of the global market for mental health apps increased from $5.49 billion in 2022 to $6.36 billion in 2023, exhibiting a compound annual growth rate (CAGR) of 15.7%. If you intend to establish your communication app for private communication with your patients, check our guide on how to make a secure custom mHealth app.
4. Improved Big Data & Analytics
According to Frost & Sullivan’s forecast, introducing healthcare AI technology in data analytics can save the industry at least $150 million by 2025. Such an achievement is possible thanks to real-time and long-distance analysis and measurement of patient data. Given such striking cost-effectiveness, the AI trend will hit its stride in the next few years.
For medical providers and researchers, the COVID-19 pandemic spotlighted data analytics, along with the immense challenge of real-time decision-making under rapidly changing conditions. Healthcare providers can get lost in dozens of spreadsheets and meetings if processed manually. That’s why the digital future inevitably includes technology capable of processing Big Data instead of humans and providing real-time analytics for decision-makers.
Another power of analytics is in making predictions. In this case, predictive analytics and business intelligence enhancements enable leveraging data-driven insights of previous patient interactions with healthcare organizations and providing needed changes. It brings good for both sides. Patients get accurate treatment plans and timely services. In turn, healthcare providers enjoy staff optimization and greater control over the supply chain.
The Capabilities of Predictive Analytics During the COVID-19 Pandemic
The pandemic has spurred predictive analytics to reveal its full potential. The need to monitor and respond to population health challenges, improve patient outcomes and collaborate with public health agencies led to initiatives like the University of Chicago Medicine. They offer to use data in new ways — special dashboards for data visualization.
The technology helps monitor patient populations, digital healthcare trends, and ventilator and ICU needs, detect drug and equipment shortages in times of uncertainty and point these problems to healthcare professionals. Besides, predictive analytics applies external data — like weather conditions — in the analysis. Empowered with GPS, the software serves as the must-have optimization system for crisis management.