Guest post by Abhinav Shashank, CEO and co-founder, Innovaccer.
Since 1966, Americans have received more Nobel Prizes in Medicine than rest of the world combined with astonishing advancement in medical treatments, but how much of it reflected on ground level is still a troublesome figure. The soaring costs of healthcare; the amount spent on healthcare is approximately 20 percent of the country’s GDP and the amount spent on one person per year is going to be roughly $10,000 in 2017; much higher than any other country. Despite ACA, more than 30 million people in the U.S. are still uninsured. With so many concerns, the healthcare industry needs innovation to change this bleak picture.
Innovative solutions have emerged in these aspects – the delivery of treatments to patients, the technology as well as the business aspects. A few innovations in healthcare are here to stay, resulting in a more convenient and effective treatment for patients today, where time is of the essence and providing patients a better future is a priority.
Big Data. Big Use. Big Outcomes
Data-driven innovations are poised to do wonders in healthcare industry. Big data has been used to predict diseases, find their cure, improve the quality of care and avoid preventable deaths. From increasing awareness in patients to transforming data into information, big data offers healthcare a paradigm shift. Instead of analyzing a single patient’s data, we can now explore entire patient population and predict patients’ health trend.
Some healthcare leaders have already extracted value from big data and are already putting them to good use. Many value-focused healthcare organizations are working to improve healthcare delivery and healthcare delivery and patient outcomes by making an integrated technology system that will allow practices to deliver evidence-based care that is more coordinated and personalized.