AI investment continues to grow, but barriers remain
A new report from HealthLeaders found 22% of healthcare organizations are taking advantage of AI capabilities. While this number may seem small, it’s actually up eight points over the last two years, showing providers and payers alike are increasing investments in analytics software. Despite this growth, insufficient funding continues to be a key barrier to adoption, along with insufficient analytics skills. A separate report from IDC FutureScape shows 30 percent of health and life science organizations’ business and clinical decisions will be informed by AI insights by 2023, “revolutionizing the future of work” in one of three health systems.
Health tech is changing the healthcare game for Boomers
As Baby Boomers continue to redefine aging gracefully, they’re becoming more and more inclined to embrace technology that enables active, healthy lifestyles. Because of this, new devices are hitting the active-aging industry market that will help the elderly live longer and happier lives. As Serenity Gibbons recently wrote in her Forbes article, “connected health is changing the healthcare game for Boomers.” From high-tech hearing aids, to less invasive heart devices, to virtual reality headsets that help combat loneliness, medical technology is changing the way seniors age and changing the active-aging landscape. As thousands of companies that manufacture devices are making a play in the senior market, the industry is expected to triple in the next three years reaching nearly $30 billion.
Voice technology continues making (sound) waves in healthcare
Amazon recently announced its new feature that allows Alexa owners to set up medication reminders and request voice-controlled refills of their prescriptions. With this announcement, voice technology continues to emerge as the future of self-service in healthcare, enabling a more human experience for patients that simplifies otherwise complicated interfaces and processes. Medication and disease management and medication adherence remains the most promising use of voice technology. However, in the future, the technology could be leveraged as a diagnostic tool to detect abnormalities in tone, inflection and breathing patterns.
The revolution in diabetes monitoring
If the 60% growth of continuous glucose monitoring (CGM) devices in 2019 is any indication, 2020 is poised to be revolutionary for technology-enabled diabetes monitoring. Through the use of smartphones and smartwatches, CGM has become more mainstream, transforming diabetes control for users. As the market booms, so too does the competition among makers of CGM devices. In fact, MedTech Dive recently ranked the head-to-head battle between Abbott and Dexcom for leadership of continuous glucose monitoring (CGM) as the top rivalry of the year. Other competitors such as Medtronic and Senseonics are also looking for a play in the market in 2020.