Health Tech: Why Health Technology Startups Are Trending, by Dr Asif Qasim.
In recent years, the healthcare industry has been accused of being “behind-the-times”, shying away from new technology in favour of old tried-and-tested methods, many of which could seriously use a high tech facelift. Not any longer. Physicians are now teaming up with technology experts to explore ways of cutting government healthcare spending while providing new and improved services to patients and health care professionals alike. Investors have caught on to the rising trend and, since 2014, have been pouring money into health technology start-ups that are striving to change the face of healthcare as we know it. Dr Asif Qasim, a consultant cardiologist and designer and founder of Medshr, one of the latest additions to the growing sector of health care start-ups, shares his insight views on the world of health technology.
First of all, Dr Asif Qasim reminds us that the area of innovation that is creating the biggest buzz at the moment concerns “wearable tech”: devices and equipment worn by, or in some cases, swallowed by the patient that can capture data in real-time. Fitness and sports enthusiasts are certainly already familiar with smart wristbands equipped with sensors that monitor vital activity. Taking this concept many steps further, health professionals and technology experts are working together to come up with new devices that will track everything from respiratory rates to infectious diseases to heart failure.
Sensors are now so small, they can fit inside pills, allowing physicians to monitor patients from afar with regularly updated information. Smart pill bottles send reminders to patients as to when they need to take their medication or create alerts when daily doses are missed. Similar technology exists for asthma sufferers who can now use smart inhalers to treat and monitor attacks. Elderly patients who don’t wish to spend their last years in an assisted living facility can now stay at home thanks to wearable devices that alert their health providers should things take a turn for the worse. Sleep disorders can be detected without spending long nights hooked up to monitors in a sleep institute. No longer reserved to the realm of science-fiction, the possibilities offered by these gadgets are enormous, stresses Dr Asif Qasim.
Another emerging market in healthcare concerns data analysis. Electronic health records are providing vast amounts of information that can today be used to analyse health trends, enabling researchers to focus on pertinent issues faced by the health care industry. Some applications give patients the possibility of changing how they are cared for through online crowdsourcing of opinion. Healthcare analytics also extend to hospital administrative operations leading to reduced waiting times and readmissions for patients and cutting hospital spending. The opportunities for “big data” in healthcare are starting to be defined, and the deep, comprehensive datasets recorded in the UK may out the NHS at the forefront of this approach.
Dr Asif Qasim points out that a third area of innovation involves specialized health social networks. While physicians remain cautious when creating online relationships with their patients, when it comes to secure networks that allow physicians to connect to their peers, enthusiasm is rapidly growing. Being able to communicate in real time with fellow health professionals around the world has become a priority for any doctor, nurse or caregiver looking to broaden their horizons by hopping on the technological bandwagon. Invaluable advice, real time case discussions and access to an extensive on-demand video library are just a few of the benefits to be had on MedShr, says Dr Asif Qasim.
Governments worldwide are looking to the future by encouraging entrepreneurs to invest in the digital healthcare sector. When one considers the potential advantages, it’s a wonder it has taken so long for interest to truly kick in. By facilitating peer-to-peer learning and medical training for physicians while providing information and support to patients, health technology is contributing to the evolution of the industry, improving health care and, ultimately, cutting costs.
