financetom
News
financetom
/
News
/
Is Digital Healthcare the Future?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Is Digital Healthcare the Future?
Jul 21, 2021 8:12 AM

The Coronavirus (COVID-19) outbreak that began in late 2019 has since then turned into a full-blown pandemic that continues to threaten lives and livelihoods across the world two years later.

To fully grasp the magnitude of damage caused by COVID-19, we must study it not only as a mere health crisis but also consider its crippling effect on the working of governments and industries and how it has affected mobility and the global economy. And yet, that would only be half the story. The unprecedented global health crisis has elicited an equally strong technological response that kept the wheels across sectors moving metaphorically. Moreover, going ahead, more digital advancements are expected.

The Healthcare Sector in the Past Year

This past year alone, India has witnessed great strides in telemedicine. In fact, despite physical healthcare infrastructure lacking in the hinterland, with improved access to mobile technology and concentrated government effort, teleconsultations helped Indians access timely medical help amid the pandemic.

According to a Ministry of Health and Family Welfare press release from July 2021, its flagship National Telemedicine Service ‘eSanjeevani’ initiative, currently operational in 31 states/union territories, has enabled 70 lakh patient-doctor consultations so far. The release also mentions another interesting statistic. The telemedicine service has served approximately 12.5 lakh patients in June 2021 alone, which is the highest since its launch in March 2020.

It emphasizes the initiative’s role in addressing the lack of medical professionals in rural India and lowering the pressure on secondary- and tertiary-level hospitals.

The telemedicine service is part of the government’s National Digital Health Mission initiative that intends to advance the digital health ecosystem in India. The initiative also aims at developing an integrated digital health infrastructure that brings together all related stakeholders, including patients, healthcare professionals and providers, administrators, policymakers, and allied private entities such as insurance providers.

Another promising development is the 2020 launch of the National Clinical Registry to collect data on clinical features, treatment, and outcomes of hospitalized COVID-19 patients in India. The data will help chart the natural course, medications, and the spectrum of Coronavirus as well as answer context-specific questions.

However, any talk of the government’s response to the present health crisis is incomplete without mentioning its digital contact tracing mobile application, Aarogya Setu, and the vaccination registration application, CoWIN. Although, these technological applications are not without fault. However, it is the short response time to resolve real-life problems with digital solutions that is commendable.

Another example of a timely digital response to resolving an urgent problem is the bed-finding application that some state governments launched during the second wave of the COVID-19 outbreak.

These applications also had their limitations. However, they arrived when an overwhelming number of patients were left without medical help or receiving medical attention late due to a lack of medical resources. Provided the learnings from the experiences during the second wave of the pandemic are used to refine these applications, they can continue to prove life-saving in the future.

Of course, the Indian government’s efforts to harness technology to improve its healthcare industry go beyond its pandemic-related efforts. For example, the Ayushman Bharat Yojana aims to provide vulnerable families with healthcare insurance coverage.

Beyond government efforts, healthcare-related start-ups addressing various healthcare needs, including preventive medicine, have further cemented the successful union of technology and medicine. Increasingly, people are familiarizing themselves with digital platforms to order medication and book diagnostic tests.

According to an IAMAI-Praxis report, E-pharmacies witnessed a 200% rise in the number of orders in 2020, and E-pharmacy adoption by households rose 2x more post-COVID. Meanwhile, online teleconsultations were up by 300% in 2020 because of the reluctance of doctors to consult patients in person.

The report mentioned another interesting statistic—80% of customers opting for teleconsultation were first-time users. Further, 50% more doctors joined teleconsultation platforms during 2020.

It is important to note here that the government recognized the delivery of medicines through e-commerce as an essential service last year.

Challenges

However, despite these positive developments, it is necessary to understand that healthcare in India continues to face significant challenges. Most importantly, there is an urgent need to improve the accessibility of healthcare facilities in rural areas, including the availability of qualified medical staff. Even for technological innovations in healthcare such as telemedicine to benefit the rural population, associated infrastructure such as internet access in these areas will have to be improved.

Moreover, there is a rising prevalence of lifestyle and chronic diseases among Indians because of a sedentary lifestyle, high-stress work environment, etc. Another issue, despite government efforts in this area, is that insurance adoption remains low, making healthcare prohibitively expensive and inaccessible for most of the population. Not all traditional healthcare businesses are profit-making, thereby making it a challenge to improve accessibility to healthcare for a large population of this country.

Way Ahead

Intrinsically, harnessing technology to improve the efficiency of the overall healthcare system can help make healthcare affordable for all. Furthermore, incentivizing collaborations between technology partners and traditional healthcare providers through supportive policy-making can also bring healthcare-related innovations to fruition.

This is a partnered post.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Markets Week Ahead: Gold Overreacts, Sterling Sinks and USD Advances
Markets Week Ahead: Gold Overreacts, Sterling Sinks and USD Advances
Mar 25, 2024
Gold Whipsaws and Signals a Potential Momentum Shift The precious metal rose phenomenally in the wake of the FOMC meeting and updated summary of economic projections. The US dollar acted as the release valve for all the hawkish sentiment that had been priced into the market. US activity, jobs and inflation data printed on the higher side of estimates in...
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile Moves
Yen Update: USD/JPY Dips after BoJ Minutes, Concern over Volatile Moves
Mar 25, 2024
Japanese Yen (USD/JPY) Analysis BoJ minutes extend the ‘carry trade’ as officials rule out rapid rate hikesLike clockwork, Japan’s top currency diplomat voices dissatisfaction with recent yen volatility, weaknessIG Client sentiment ‘mixed’ despite massive short positioningThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library BoJ...
US Dollar Forecast: PCE Data to Steal Show; EUR/USD, USD/JPY, GBP/USD Setups
US Dollar Forecast: PCE Data to Steal Show; EUR/USD, USD/JPY, GBP/USD Setups
Mar 23, 2024
Most Read: U.S. Dollar Outlook Market Sentiment: USD/JPY, USD/CAD, USD/CHF The U.S. dollar, as measured by the DXY index, strengthened this past week, closing at its best level since mid-February on Friday. Despite initial losses following the Fed’s dismissal of renewed inflation risks and indications that it was still on track for 75 basis points of easing this year, the...
Oil Update: Russia
Oil Update: Russia
Mar 23, 2024
Brent Crude Oil News and Analysis Over 150 missiles and drones fired in latest attack on UkraineOil prices ease into the weekend despite attacks on energy infrastructureIG client sentiment focuses on recent changes in positioning to arrive at bearish biasThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our...
Copyright 2023-2025 - www.financetom.com All Rights Reserved