As we move out of an acute stage of pandemic that began in 2022, one most vital industries of the world is Medical services. It’s under the spotlight.
In this field we’ve seen the advancement of new Innovation to meet the constantly changing requirements of patients, increasing use of telehealth patients taking more control of their mental and physical wellbeing, the increasing costs of Medical services across the globe… However, one thing is unassailable: we will keep seeing new developments in the field of Innovation and tools that take on new needs and fill shortages in the Medical services industry.
Looking ahead into 2023 trend toward Medical services consumption continues to increase, fuelled by Medical services influencers as well as patients. Medical services consumption can mean different terms to different people, but for patients, it’s the capacity to insist on transparency, accessibility and a high-quality Medical services. Due to the decentralization of Medical services services, people are increasingly comparing their expectations for Medical services services to the quality of service offered by the retail environment, particularly when the burden of increasing health costs is borne out of the pockets of patients.
Innovative technologies and advances across the globe are shifting the idea of Medical services towards a more customized and practical aspect of our lives, our homes. From bringing clinic into the home using the remote, wearables and extended reality Innovation to the pursuit of longer and better quality lives and a more pronounced emphasis on overall health and wellbeing.
With a keen eye at 2023, we look on a number of advances in medication and Medical services and also look at significant trends that will be prevalent in the upcoming year.
1. The Rise and Related Challenges of Medical services Consumerism
Medical services consumerism is a term which was first used in the 1930s. the current growth in popularity is a result of the shift to the concept of value-based health care.
Value-based care is based on a similar principle that can be found in the retail experience. It ties the cost for the delivery of care to the level of service offered and thereby rewarding providers who provide efficient and efficient service. We are, in essence, more willing to spend money on something if we are confident that we’ll get value of it. The shift in reimbursement models for Medical services delivery has contributed to the growth of the consumption of Medical services.
Patients today are more knowledgeable about medical terms as well as approaches to maintaining and preventing disease. They are more enticed to take control of their health through making better lifestyle choices and completing “preventive” health screenings and becoming more aware of the public health. With this increased education and enthusiasm comes the need for transparency, trust in addition to accessing their medical information. Like the retail experience consumers are looking for to get what they pay for, and this also includes the ability to access their medical information and the ability to exchange it to improve their health outcomes. These trends influence the future of Medical services consumption.
In support of this transformation Innovation advancements continue to be giving patients more control and experience their health outcomes. The increasing use of the use of telehealth and mobile health technology gives patients more options about when and how they wish to have their health monitored by delivering on-demand health care. In addition, the use of distributed ledger Innovation (DLTs) is helping to move towards the decentralization of Medical services and the incentivizing of patients to have access and control of their health information.
The rapid development of these technologies that are facilitating the expansion of Medical services consumerism has some problems. A lot of these breakthroughs come as mobile health Innovation and Telehealth platforms, and are comparatively new. Thus the more they’re employed, the more we know about the issues.
As patients of health technologies we are expected to believe that these tools function just as they should while safeguarding your privacy as well as data security. These challenges must tackled if are to achieve the full potential of the shift to consumerism in Medical services that heavily depends on the transparency of Medical services and accessibility to high-quality Medical services.
2. The Ascent in Carrying Emergency clinic to the Home
The idea”clinic at home” or “clinic in your home” is not a new concept but, as with telehealth, at-home clinic services became an essential part of every health system when beds were filled in the initial explosion of the COVID-19 epidemic and to limit the exposure of patients to infection by keeping patients at home whenever it was possible.
Clinic recognized that they could benefit from the “clinic-at-home” model would be used with thermometers that are connected and pulse oximeters which permit the patients to receive monitoring and treated by medical professionals without the stress and expense of hospitalization. If this model is successful, and it has some benefits, model during the outbreak, could it be used throughout the entire world?
In light of the rapid growth of the area and the success of clinic-at-home initiatives, McKinsey estimates that within the next three years, close to $265 billion in care services, or around 25 percent of the total costs of Medical services, will be transferred from traditional clinic towards the home, and without a decrease in the quality or accessibility.
There are many illnesses and ailments that must be taken care of in a clinic. However, with the advancement of Innovation that many diseases can be treated at home. The latest developments in remote patient monitors (RPM) as well as Remote Therapeutic Monitoring (RTM) permit doctors to obtain near-real-time information on the blood pressure, heart rate blood glucose levels and their reactions to the therapeutic delivery devices.
Monitoring these essential elements, particularly for those suffering from chronic illness helps reduce the stress of frequent doctor’s office or clinic visits. These technologies can be easily adapted for the patient or the caregivers to apply, after which the data is immediately transmitted back to the medical professional.
The option of receiving medical treatment at home instead of in a clinic could drastically reduce costs while increasing the quality of care for patients. There are some difficulties, particularly in the accessibility, infrastructure and practicality. The consumer must be aware of the proper consumption of power and the life of their batteries for these new technologies, reliable internet connectivity in their homes and also privacy and data protection. Reliability is essential for a system as devices should always be powered on and connected to provide continuous monitoring.
Efforts to enhance the experience of patients and ease stress on Medical services providers have led to the development of tools and technologies to facilitate rapid onboarding of telehealth systems ‘ use. The increasing acceptance of Medical services provided outside of the office or medical facility can help move more complex forms of health care to homes despite the lack of a solution to guarantee the security of patient data as well as privacy and transparency.
3. Life span Innovation
The global life expectancy seems to have decreased in the range of 0.92 years between the years 2019 through 2020, and another 0.72 year between 2021 and 2020 however, that decline appears to be coming to an end in the final quarter of 2021.
Uncertainty over its exact dimensions aside, this is the first drop in life expectancy worldwide since 1950, the very first year that estimates of global proportions are accessible through the United Nations. The decrease between 2021 and 2019 could be due in part to the amount of deaths due to COVID-19. However, increases in other chronic diseases like heart disease, suicide and cancer increased over the last decade too.
In the quest for immortality of old age it is a question that arises what is the reason why some live to 105 years old while other people aren’t able to live beyond 60? Innovation for Life span, in conjunction with research conducted by scientists is focused on helping those to age longer, with greater health and well-being. In the past few decades, the phrase “preventive treatment” is used in order to inspire patients to take part in yearly screenings for cancer, physicals and other activities to improve their health not always in order to avoid the disease, but to be one step ahead.
With the world’s aging population surpassing younger generations, causing concern regarding how old people can be properly cared for and the determination to beat the aging process, the race to be a winner in Medical services has started. Saudi Arabia has placed a $20 billion Life span Innovation bet in partnership with the Hevolution Foundation and they are not the only ones; the United States Pentagon released its own report on research into Life span technologies and opportunities.
Innovation for Life span has become the latest race in the field of health. Contrary to the current usage of Innovation that are designed to track and maintain long-term Innovation is aiming to make a major change from prevention to treatment.
It aims to transform Innovation that monitors only to those that can monitor, and provide information. By using digital technologies, such as artificial intelligence (AI) and machine-learning (ML) and wearables, as well as biosensors, when combined with advances in environmental, genetic and physiological research experts around the world are looking for how they can increase the quality of life and Life span.
The IEEE Standards Association (IEEE SA) has scheduled webinars on demand that will focus on the use of robots as caregivers and partners to assist the elderly population.
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In 2022, we witnessed numerous changes and innovations in the fields of medication and Medical services which shaped the world of technological as well as economic innovations. As we move into the 2023 year and beyond IEEE SA will continue to support the global health and medication communities address current and emerging opportunities to create an easier, more reliable, and secure service.