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Emerging Technologies Improving the Healthcare Industry

By Pharma Tech Outlook | Friday, February 08, 2019

Healthcare industry has witnessed plenty of innovations, but there is still a great opportunity for the entire sector to get better. Presently, storing patient health records is a challenge because manual handling of the records does not pan out if present in large quantities. Doctors constantly move their physical location, change their systems, and adopt new insurance coverage causing loss of information. Changing the records manually is not a practical solution as there are thousands of patient records.    

Blockchain and deep learning products that oversee and analyze big data have huge development set for the future. Suppliers and payers are anxious to invest in the tools and techniques that will help them tackle challenges that are ahead of the time. According to Market Research Engine, deep learning is the most notable among all the parts of artificial intelligence, and it is expected to grow by 42 percent by 2024. Associations should invest in both hardware and software to help deep learning and its tools benefit from the emphasis on infrastructure improvement.     

Organizations such as IBM, Microsoft, and Google are progressively taking deep learning and artificial intelligence options. Nevertheless, healthcare entities should tackle challenges such as data silos and poor data quality to capitalize what deep learning offers. Blockchain technology is a decentralized transactional ledger which guarantees interoperable sharing of continuous information between merchants, patients, and payers in the healthcare industry. Blockchain in healthcare can help build profitable strategies for the ecosystem and the people involved.     

Blockchain can change the healthcare industry by putting the patients at the center of the medicinal services ecosystem. It facilitates the healthcare sector with security, privacy, and consistent exchange of healthcare information. Blockchain reduces the cost by eliminating manual procedures. It also decreases the danger of single point of failure. Patients generate data from clinical experiences, wearable gadgets, and more. Every bit of data transferred adds to the patient's electronic health record (EHR). Every patient possesses their EHR and can choose to share the information as they wish. 

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