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Top Healthcare Innovations for 2019 – Part 4

Let’s take a look at top 10 health technology innovation ready to take over 2019.

Blockchain

Though blockchain remains dependent on the ability to record and store information conveniently, economically and securely amongst different applications and systems, it is estimated to reach over $5.61bn by the end of 2025. Processes are streamlined by providing transparency and eliminating third-party intermediaries and reducing healthcare costs exponentially.

According to BIS Research, blockchain could save the industry up to $100-$150bn per year by 2025 in data breach-related costs, IT costs, operations costs, support function costs and personnel costs by unlocking the ability for providers to deliver a value-based healthcare system and enhance patient engagement. Ethereum blockchain-based supply chain platform, Viant sought to accelerate the pace of blockchain-based supply chain systems in partnership with pharmaceutical giant GlaxoSmithKline (GSK). Accenture and supply chain giant DHL have also developed a blockchain-based serialisation prototype which tracks pharmaceuticals from the point of origin to the consumer.

Artificial intelligence

Artificial intelligence (AI) applications, for instance, predictive analytics for patient monitoring, has provided significant financial savings. Applications that target hospitals and medical institutions include patient monitoring and transcribing notes for electronic health records (EHRs). In a bid to catch up with Asia and the US, who have invested heavily in AI and cloud services, the European Union is set to invest $24bn into artificial intelligence (AI) by 2020. Google revealed its plans to harness AI and machine learning across a multitude of consumer technologies this year, particularly in healthcare.

Keep watching this space to know more about top healthcare innovations for the coming year.

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