From innovative concepts to tangible value creation in healthcare

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From innovative concepts to tangible value creation in healthcare

Over the next few years, the potential of healthcare will be shaped by three key lessons that have been defined.

Adoption of personalized healthcare practices

One of the most important lessons from the ViVE 2023 Health Conference was the growing significance of personalized healthcare. Customizing healthcare facilities to each patient’s unique needs is referred to as personalized healthcare, and it may become more prevalent as technology develops.

The patient is at the center of personalized healthcare, which focuses on adjusting the course of treatment to the patient’s particular requirements.

The conference’s speakers covered a range of topics, including the personalization of healthcare and the increasing use of wearable technology. A couple of the earliest examples of wearable technology, fitness trackers and smartwatches, have gained popularity recently.

 These tools help medical professionals track vital signs and gain knowledge about a patient’s health status, enabling them to create individualized treatment plans.

For a variety of reasons, certain individuals might not want to wear or utilize other kinds of monitoring devices. Data analysis along with additional methods may provide an alternative method of personalizing care in these circumstances.

Enhancing collaboration efficacy and inclusivity

There was a constant call for more extensive and inclusive healthcare collaboration throughout the event, not just between providers but also between health plans, decision-makers, and investors.

Michael Archuleta, chief information officer of Mt. San Rafael Hospital and Clinics, said, “As healthcare providers operating in the age of digital technology, we are required to think like digital companies. We need to start thinking of technology as an objective rather than a cost center.

It is now impossible to ignore the value of stakeholder collaboration in the healthcare sector. Digital advancement is not a passing trend; it is a revenue tactic that needs to be emphasized and implemented right away in order to become ingrained in the culture of your company.

It became evident that the healthcare sector would have to cooperate to solve some of the most significant problems facing this industry, including rising costs and a lack of skilled labor.

Artificial Intelligence is gradually beginning to fulfil its anticipated potential

Speakers at the ViVE 2023 Health Conference discussed the potential applications of artificial intelligence (AI) in healthcare. They pointed out that among other uses, AI can be used to forecast patient outcomes and create individualized treatment plans.

With its AI supply capture intelligence platform, AssistIQ uses artificial intelligence to lessen the administrative work required of nurses as well as waste, expenses, and carbon footprint.

With $188 billion in annual costs, medical equipment, and supplies are the second-largest variable cost in hospitals after salaries. By 2029, the North American marketplace is projected to increase from its current $330 billion value.

In North America, the majority of the major health systems are having trouble with supply inconsistencies and waste. The estimated annual economic burden of these losses, excluding the carbon footprint and the effect on the environment, exceeds $30 billion. Numerous stakeholders experience a significant increase in work as a result of the lack of modern technology, particularly nurses who already have very demanding jobs.

The AI platform from AssistIQ streamlines and makes administrative duties for nurses easier while collecting useful information on the use of disposable medical equipment during surgeries and endoscopies. Many hospital stakeholders now have visibility into and access to this new data set, which reduces costs and leaves a lower environmental impact.

AssistIQ’s technology was introduced to CHUM, according to a study that appeared in the Journal of the American College of Surgeons; as a result, on average, surgical supply costs were reduced by 23%, or $753 per case.

Advancing forward requires taking deliberate and intentional measures

The ViVE 2023 Health Conference offered a special chance to interact with creative minds from the healthcare industry and beyond. The experience was energizing on a personal and professional level.

Medical personnel must collaborate with other disciplines and adopt innovative methods in order to deliver high-quality care.

We will be better able to comprehend how to implement major advances in the future with the data we obtained at this conference. It is hoped that the practice of obtaining opinions from people with various backgrounds will be maintained

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