The arrival of new age technologies is revolutionizing the way we do our daily tasks whether- it is about ordering grocery, booking a hotel room or an appointment with a doctor. Digital transformation has disrupted various industries such as hospitality, transportation, insurance and education followed by Pharmacy and Healthcare. Adoption of technology has truly made the lives of people convenient and better. Sudip Chhatui, Vice President- Business and Operations, Curofy says that technology is creating a plethora of opportunities for healthcare organizations, pharmaceutical companies and patients together to make their lives simpler.
As per the estimates of World Bank, the life expectancy in India has grown from 41 years in 1960 to 68 years in 2015 that calls for the requirement of self-monitoring and preventive healthcare approach. Although, pharmacy and healthcare sectors are considered as the late adopters of technology among all when it comes to using IoT, artificial intelligence, machine learning and blockchain based devices. Today, healthcare and pharmaceutical companies are utilizing the power of IoT and other new technologies to optimize their internal as well as external operations.
Improved supply chain in Pharma industry
The Indian Pharmaceutical industry is the third largest industry in the world with exports to more than 200 countries. However, as per the estimates of the World Health Organization (WHO), 35 percent of the fake drugs in the world come from India accounting to the counterfeit drug market of ₹4000 crore. Counterfeit drugs are one of the most critical issues prevailing in the Indian pharmaceutical industry that can put the patients at a higher risk. Hence, there is an exigency for adopting technology that can simplify and improve security and inefficient processes.
To transform the way pharmaceutical industry functions, many technology companies and startups are creating models based on Blockchain. It is one of the most crucial technologies for the pharma industry that plays a major role in supply chain management. It helps in recording and transferring data in the most secure and transparent manner that can have manufacturers, distributors, pharmacist and patients all on a same trusted network. Modern pharmaceutical companies have already understood the importance of adopting Blockchain for their operations to promote preventive care approach for patients, thereby strengthening business values.
Changed healthcare game
Over the past few years, Healthcare industry is undergoing a major technology transformation that many of us could never imagine. Technology has created new opportunities for patients, hospitals and multispecialty. Potentially, applications and devices running on the concept of Artificial Intelligence, Machine Learning and Internet of Things have speeded up diagnosis of critical medical issues. These innovative technologies store patients’ data in a way that is being used for improved understanding of the disease and helps in identifying optimal treatment. Moreover, hospitals, and multispecialty are using a wide array of technology to offer patient centric experience. Robotic surgery, Laparoscopy and user friendly X-rays and many among others are the most common instances where technology has proved to improve the patient experience.
The change Indian doctors are accepting
We talk about acceptance of technology in pharmaceuticals and Hospitals, creating awareness, electronic records maintenance, etc. but we cannot forget to attribute the actual healthcare professionals or doctors who are making themselves familiar with new age technologies to drive the adoption rate in healthcare and pharmaceutical sector. According to Indegene’s Global Survey in 2015, it was estimated that 60 percent of doctors now prefer tablet based detailing over online detailing which is 45 percent approximately. Thus, it is interesting to know that doctors are no more behind in engaging digitally with their patients, peers, colleagues or experts. The proliferation of technological advancements and internet usage are opening up unlimited channels of communication for doctors and making them comfortable with digital networks and applications. Additionally, new technologies like the Internet of Things (IoT), machine learning and artificial intelligence are playing a major role in helping doctors to solve complicated cases.
Acceptance of technology especially by doctors is bringing a sea of changes in the healthcare sector. Before IoT, Machine Learning and Artificial Intelligence, there was a disconnection in the doctor’s community. However, with the acceptance of these technologies, there is an instant communication between doctors and doctors; patients and patients; and doctors and patients to discuss about a particular clinical case. According to the figures shared by the Union Health Ministry, currently, there are about 6 to 6.5 lakh doctors available in the country and it would need 4 lakh more doctors by 2020 to fill the void. Therefore, innovation in technology and its direct impact on the healthcare sector is playing a major role in filling the gap between doctor and patient; and other problems that are plaguing the sector. – Deccan Chronicle