Manufacturers are in the information business now

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Manufacturers are in the information business now

November 02, 2015
Business Affairs Health IT Population Health Primary Care
From the October 2015 issue of HealthCare Business News magazine
 
At the same time, people are obsessing about their health. Today they have more access to information and are becoming smarter in diagnosing symptoms. People want to be in control of their health. They want to monitor the functioning of their body, trying to prevent illnesses and improve the quality of their life. In short: people want to manage their own health. Over the past few years, devices that give people information on their health have come to market, and there are literally thousands of apps that help people stay in control of their health. These devices and apps are generating mountains of data, ready to be analyzed. Patients, doctors, hospitals, pharmaceutical companies, insurance companies and scientists will all find ways of using this data to the benefit of science and society.
 
Today, innovative software is providing new ways for manufacturing companies to gain a competitive advantage. But harnessing that potential from scratch isn’t easy. It requires bringing together device connectivity, data integration and management, data analytics, cloud, and mobility, all in a way that works seamlessly together and intuitively for all the members of one’s business. That’s why some of the medical device product companies are now offering a cloud-based platform that translates information to actionable insights.
 

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This platform allows interoperability with a variety of medical devices and disease management pathways. It generates enormous amounts of clinical data which will help the health care industry in many ways, some of which will come from a personalized baseline for an individual’s health, using aggregated data from a number of wearable devices or sensors. The information-driven business model is transforming the way medical devices are used for delivering personalized care, and this business model is getting much more established with wide adoption of connected devices in the health care industry.
 
About the author: Bipin Thomas is a renowned global thought leader on consumer-centric health care transformation. Thomas is a board member of Healthcare Business News and chairman of ICURO, a consumer-centric digital care outcomes research and management organization, where he is redefining personalized care delivery by connecting all stakeholders in the emerging health care ecosystem. Thomas is a former senior executive at Accenture and UST Global, where he launched strategic digital initiatives across the care continuum including providers, payers, medical device manufacturers, pharmaceutical and life sciences, federal and state health agencies.

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