The use of technology and data is something that the medical industry has to adopt in order to help patients get better treatment.
In MoneyBall Medicine: Thriving in the New Data-Driven Healthcare Market, the author includes interviews with numerous healthcare leaders and outlines the challenges and opportunities developing for those working in this critical and vibrant sector of the world’s economy.
Author Harry Glorikian outlines changes that are taking place and how they will impact everyone from patients to researchers and insurers, with predictions for the healthcare industry in the future.
“The medical industry is a business and they need to adapt more to technology,” Harris said in a phone interview Aug. 11. “But they also need to work on what works for them from a financial point of view.
Harris said that the medical industry’s adoption of technology has been moderate given that the medical industry needs what is best for them to get paid.
“Now with COVID-19, there has been an increment in telemedicine where people can see their doctors through their phone. That is something that brings revenue for them,” Glorikian said.
He points to the uptick in electronic storage of medical records, convenient online patient portals, and innovative applications of data to help pinpoint outbreaks and expose drug-resistant diseases. We have entered a rapidly evolving era of medicine that values data-driven approaches and prioritizes evidence-based care, and the best is yet to come, Glorikian predicts.
In his book, Glorikian (along with award-winning healthcare writer Malorye Allison Branca) shows through examples what a new data-driven healthcare system could look like when implemented on a global basis. The authors reveal where data and cutting-edge analytics are already advancing healthcare and creating new and evolving business opportunities. Data and technology are already impacting drug development, precision medicine, and how patients with rare diseases are diagnosed and treated. Digital devices and artificial intelligence are helping doctors do their jobs faster and with greater accuracy.
Glorikian added that data-sharing has had an impact on how the U.S. has responded to COVID-19 and how it has helped in the number of cases and deaths.
“It’s all about helping the patients and has access to quality health care. There will be a time when Alexa will tell you how your health is. That time will come soon,” Glorikian said.