The field of healthcare has undergone significant transformations over the past decade, largely influenced by the aftermath of the COVID-19 pandemic, financial challenges, and the rapid adoption of technology and digitization. These factors have reshaped the healthcare landscape for both patients and practitioners. In this article, we will explore the top five healthcare trends that are expected to dominate in 2023
Artificial Intelligence (AI) in Healthcare
Artificial intelligence, particularly machine learning tools, is projected to be a multi-million-dollar market in 2023, with an estimated value exceeding $20 million. AI technologies such as computer vision, natural language processing, and pattern recognition algorithms have already found extensive use in the healthcare industry. These tools are expected to gain further traction as their effectiveness becomes increasingly evident.
AI’s applications in healthcare are vast and diverse. For instance, it plays a crucial role in drug discovery by predicting clinical trial outcomes and potential side effects of new medications. AI algorithms also aid in the analysis of medical imagery, enabling early detection of diseases through X-rays and MRI scans. Additionally, AI has been successfully employed in diagnosing and treating neurological disorders like Parkinson’s and Alzheimer’s diseases.
Furthermore, AI is valuable beyond clinical work, as it streamlines clerical tasks such as processing insurance claims and managing medical records. It can also analyze data from patient wearables and home sensors in virtual hospital settings, providing early warnings and predictive diagnoses for various conditions. The pervasive use of AI and machine learning in healthcare indicates that these technologies will continue to dominate the industry in the coming year.
Remote Healthcare – Virtual Hospitals, Healthcare Communities, and Telehealth
The pandemic has led to a substantial increase in remote healthcare delivery. Even as face-to-face appointments become safer, many patients and providers recognize the efficiency and cost-effectiveness of remote care for numerous conditions.
Remote healthcare encompasses different models. Home-based care has gained prominence due to its positive impact on patient outcomes and cost efficiency compared to inpatient care. Telemedicine, ranging from video consultations with doctors to remote surgeries performed using robotic technology, has also seen significant growth. Virtual hospital wards, where centralized practitioners provide care to multiple remote patients with related conditions, have emerged as another remote healthcare model. Furthermore, patients are increasingly empowered to complete certain procedures related to their treatment at home before being admitted to hospitals.
Online communities have also gained importance, facilitating patient-led support networks or charity-run platforms dedicated to specific health conditions. Platforms like Patients Like Me, Care Opinion, and cancer.org enable users to connect, share experiences, and seek advice related to their treatment and recovery.
Given the rising costs of in-person healthcare and ongoing shortages of medical practitioners worldwide, all forms of remote healthcare are expected to experience continued growth in 2023.
Retail Healthcare
Researchers predict that healthcare services provided through retail outlets will double in 2023. Major retailers such as Walmart, Amazon, and CVS have ventured into healthcare services traditionally offered by hospitals, clinics, or doctors’ practices. These retailers offer blood tests, vaccinations, medical check-ups, and more, leveraging consumer expectations for streamlined experiences and greater choice.
Retail healthcare providers offer accessibility and convenience, often eliminating the need for pre-booked appointments. Moreover, they are less affected by the shortages of trained clinical staff that many countries currently face, which is predicted to worsen.
As traditional primary care facilities face budget constraints, the retail healthcare trend will gain further prominence, driven by the superior patient experiences offered by retail providers.
Wearable Medical Devices
Wearable devices are becoming increasingly prevalent in 2023, serving both individuals tracking their health and exercise activities and clinicians monitoring patients remotely. The “Internet of Medical Things” has expanded rapidly, evolving from simple vital sign trackers to advanced devices capable of conducting sophisticated scans and providing insights.
Smartwatches can now perform ECGs, while smart textiles detect blood pressure and predict the risk of heart attacks. Furthermore, smart gloves can alleviate tremors in patients with Parkinson’s disease. Wearable devices are also being developed to monitor and detect signs of mental illnesses by analyzing activity levels, sleep patterns, and heart rate.
In 2023, wearable medical devices will act as “edge” devices equipped with processors for in-device analytics, reducing the need to send data back and forth to the cloud for processing. This approach ensures privacy by keeping sensitive patient data within the device and enables real-time detection and warnings for potentially life-threatening conditions.
Personalized Healthcare
In 2023, patients will have greater access to personalized healthcare tailored specifically to their needs. Precision medicine, which involves tailoring treatments based on factors such as age, genetics, or risk factors, will gain momentum. Personalized healthcare leverages advanced genomic information to predict the effectiveness of specific drugs or the likelihood of side effects. AI and machine learning algorithms assist in these predictions.
Personalized healthcare also encompasses patient empowerment in treatment planning and delivery decisions. Individuals can actively participate in creating personalized treatment plans, considering their unique circumstances, opinions, and beliefs.
Personalization is a significant trend extending beyond healthcare into various industries, and it will continue to shape the healthcare landscape throughout 2023.
To stay informed about the latest business and tech trends, consider subscribing to the newsletter, following relevant social media accounts, and exploring books that offer insights into future skills and practical business trends.
Note: This article was originally published by the author and won the 2022 Business Book of the Year award.