Digital isn’t just for tech companies — it impacts the bottom line for the healthcare supply chain by empowering organizations to save dollars and time. Here’s how and why.
What are Digital Transformations and Digital Health?
The term “digital transformation” is buzzing around every industry these days — including healthcare. But what, exactly, does it mean? Essentially, digital transformations (and digital health) are a new, technology-driven approach to doing business. Digital transformation is defined as the evolving of processes, capabilities and models that utilize digital technologies and their impact in a strategic, prioritized way. Similarly, digital health is the convergence of digital technology with health, healthcare and society to empower more efficient, personalized healthcare experiences. In short, it’s digital transformation for the healthcare industry.
Digital is Here to Stay
In one study, 78% of providers and 74% of payers agreed that by 2020, technology across healthcare will further help patients feel better, maximize coverage, and provide digital information to help save lives.
This type of digital transformation feeds into business transformation. Let’s visit a well-known example from a different industry: Many people were initially shocked when Netflix cut DVD delivery. But with a solely streaming focus, they’ve ultimately grown bigger and more profitable while DVDs are now considered relics from the past. Digital transformation can fuel this type of innovation for healthcare brands as well.
Kaiser Permanente responded to its poor patient experience ratings by utilizing digital health. Today, the company lets patients check in for appointments and handle copayments easily online. This saves employee time and, in turn, company funds. The company later added the “Thrive Bar,” which features iPads with medical insights and demonstrations, to further improve the patient experience.
New Products and Trends in the Healthcare Market
New products and trends continue to emerge, helping to lower costs and increase revenue. In a supply-heavy market like healthcare, these technologies are changing the landscape. Here are a few specific products taking the industry by storm:
- Real-time four-dimensional lung function imaging
- AI facial-recognition security surveillance
- Predictive analytics for machine log data
And that’s just a small sample. Digital technology is evolving almost every facet of the healthcare business from payments to service to reporting to care and beyond.
Saving Time and Money with the Internet of Things (IoT)
The healthcare supply chain has a lot of moving parts. Emerging IoT technology can help ensure those parts are working seamlessly together — and more efficiently than they ever have.
Forward-thinking healthcare organizations are using IoT to:
- Monitor new, more efficient equipment and opportunities to save
- Track and connect with customers or patients, saving time and lowering labor costs
- Streamline communication externally and internally, with staff and patients
Digital Health isn’t the Only Way to Save
Digital transformations take time, but CNECT can help you streamline your purchasing to immediately start saving money. With access to the world’s largest GPO, CNECT is the simple way to amplify your buying power and make sure purchasing strategy is optimized.
Best of all? It’s free.