Healthcare eCommerce Market trends

Healthcare companies are faced with the advancement of digital technology that not only affects the quality of patient care but also how to deal with complex digital issues.

The digital transformation of the health care system means that health care providers not only need to have a road map to install current and future online programs but also need to know what to invest in.

Wearable Health Tools

Wearable tech is not news. From Apple watches to Fitbits, consumers track their health information in real-time. In fact, according to a study by Business Insider Intelligence, more than 80% of consumers are willing to wear healthcare technology.

However, remote patient monitoring is just the beginning. The Apple Watch is now able to detect unusual heartbeats. People with diabetes can monitor their blood sugar levels by using digital glucose monitors.

The FDA recently approved the first digital asthma inhaler, which will use built-in sensors to detect the use of the inhaler and measure the flow rate. Patient information is sent to a compatible mobile app using Bluetooth for patients and health care providers to monitor it later. This information will assist physicians in determining whether patients are using their inhalers improperly or frequently and improving the quality of care.

Imagine if your Apple not only checked your health information but sent it to your doctor, who is reviewing it. Depending on the results, you may be directed to an online testing tool to further evaluate your symptoms; a telehealth consultation with experts; an online retailer where you can buy health or medical products; or even a doctor sent directly to you to call the house.

The data entered by your wearable device can make a list of customized foods, helping you achieve health or fitness goals. It can take into account newly acquired allergies, food allergies, or dietary needs. This has the potential to change the way health care and eCommerce pass.

Wearable devices can also reduce costs for insurance providers, healthcare providers, and employers. Insurance companies should consider encouraging consumers to use affordable technology, reduce claims costs and promote personal health. Employers should start using portable technology to create healthy employees, with increasing productivity and declining incomes. Health care providers may notice a decrease in readings and relapse, due to empowered and informed patients.

In fact, recent research has shown that 75% of consumers agree that wearable technology helps them manage their health. The impact is real, and patients are willing to participate. As a result, by 2020, we will see more health-focused businesses using these technologies.

Convenient, reasonable, & Personalized Care

The need for personal health care is not limited to wearable technology. Today’s patient is not only tech-savvy but also economical. This has a major impact on health and beauty online stores.  According to the 2017 Inpatient Telemedicine Study, more than 70% of consumers prefer to use video rather than visiting their primary care provider in person.

Indeed, telehealth is already growing and is expected to reach about $ 94 billion by 2026. It offers a much simpler option for more patients than standard medical care, especially when it comes to regular or simple diagnoses, or performing follow-up. Instead of requiring a patient to take time off work, secure transportation, or make an unnecessary trip to the ER simply because their doctor’s office is closed, telehealth solutions can streamline the process and remove barriers to medical care.

It also reduces costs, which is always a major factor in motivating or preventing patients from seeking care. (65% of respondents indicated cost as a priority when choosing where to get care, according to McKinsey’s 2018 study).

Telehealth is not the only way patients continue to seek easy options within the healthcare market. A similar study by 2018 McKinsey showed that over the past four years, consumers using retail chains and health clinics (e.g. CVS Minute Clinic, Urgent Care, Patient First, etc.) compared to traditional methods of health care have declined. from 9% to 24%. There is a very high percentage among younger generations, many of whom no longer see primary care providers at all.

Managing the Data

The wearable tech, telehealth, and other digital health products all lead to one thing: data.

Three main data issues – and opportunities – impact the healthcare space: the ability to manage data, and ensure that different information systems communicate effectively; the ability to keep patient data confidential and secure; and the ability to use and evaluate all patient data collected.

Data management

The expansion of digital integration, unfortunately, means an increase in information systems, many of which are not designed to communicate with each other. As a result, the data was broken and included in many applications. This gives medical professionals an incomplete view of the patient’s health and increases the chances of missing or misdiagnosis, incorrect billing, complete non-compliance with prescription drugs, and more.

Now more than ever, health care companies need to invest in a complex data management strategy. This means developing systems with flexible structures and structures, as technology will evolve and evolve more and more. It also means creating systems that are organized enough to accept new, ever-changing mandates and regulations.

Data Protection

It is not enough to develop interactive and interoperable systems, and you need to keep the data of those systems safe.

The healthcare sector has already seen an increase in cyber attacks, a trend that is not showing any signs for the coming year. In 2018, multiple data breaches led to the disclosure of health care records, which accounted for more than half a million compromised patients.

Businesses should invest in appropriate cybersecurity measures to protect themselves and their patients. Also, businesses can make use of social media marketing services to spread awareness about the harm and consequences of cyberattacks. Apart from social media marketing, eCommerce businesses can invest in eCommerce content marketing which plays a very crucial role in educating people and businesses about trending topics.

Data is used

With so much information, it is a challenge for health companies to make the most of it. Artificial Intelligence (AI) is a highly viable solution, with new technologies emerging to help process data and convert it into plausible data and possible recommendations.

Consolidation, Acquisition, and Labor Struggles

In 2018 alone, Definitive Healthcare followed a merger of 803 acquisitions and acquisitions and 858 declarations for co-operation and co-operation. This trend will only increase as the emerging, rapid emergence of the healthcare sector forces companies to pool resources to meet consumer needs and deliver new services.

One resource that will always be scarce by trained staff. The number of older people means that we need more medical professionals than ever before. Unfortunately, the majority of medical staff (especially those in hospitals) are unable to keep up with the need. According to a study by Mercer Global Health Workers, the US will need to hire 2.3 million health care workers by 2025 to adequately care for the elderly.

While mergers and acquisitions can expand and strengthen talent pools to some extent, healthcare businesses will need to find ways to use technology to fill gaps, such as the telehealth solutions listed above, and implement some of their practices with digital wearable medical devices, remote patient monitoring, and AI data testing.

Author’s BioA creative and passionate mobile application enthusiast with over 10 years of experience in providing IT solutions across various industries. Nitesh Behani is the Co-Founder of Magneto IT Solutions, a full service of Mobile App Development in the USA, India, and Bahrain. He has experience in delivering more than 100+ projects ranging from web technologies to mobile application technology.

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