Sunday, June 13

Future of healthcare industry and importance of healthcare technologies

The hospital industry is 80 percent of the total healthcare market, growing at a CAGR of 16-17 percent, and is set to reach US$132 billion by 2023. The healthcare market size, as a whole, is expected to reach US $372 billion by 2022. As the future of the healthcare industry looks bright, the introduction of technology has made it even more efficient, which is why the demand for proper healthcare is only going up. The role of technology can, in no means, be downplayed in improving the quality of healthcare in our country. Let us have a look at what the future holds in terms of healthcare technologies.

Electronic Health Records

Electronic Health Records, or EHRs, are maintained to digitally keep diagnostic and clinical records of all patients, during any of their clinical encounters. It helps in maintaining records about every person’s medical history, thus making their access to healthcare in times of emergencies even more efficient and fast.

Other than Kerala, there have been no states to keep a record of all its people. Kerala managed to digitally record clinical details of 2.58 crore people, and is evidently in a better position than all the other states in terms of healthcare.

In 2017, a committee was set up for implementation of EHR in the country; although there’s still a long way to go to implement EHR throughout the country. Once the EHR is completed, numerous lives could be saved by the healthcare centres.


Telemedicine is another blessing of technology in the world of healthcare. Now, the big question is, what is telemedicine? To put it simply, telemedicine is the process of accessing healthcare through any kind of telecommunications technologies. This could mean anything– from consulting doctors online to ordering medicines on the phone. With the improvement in telehealth, inaccessible rural areas get access to doctors and healthcare, which wouldn’t have been possible otherwise.


With over 3 billion smartphone users in India, mobile phones have become  a significant medium for healthcare workers to communicate with patients. mHealth refers to the use of mobiles in the healthcare industry. With mHealth, doctors could monitor emergency situations on the go, while patients could clarify doubts about medications and dosages from a remote place as well. Overall, the quality of healthcare has definitely improved because of mHealth.

Wearable technology and sensors

Wearable technology and sensors have already come a long way. However, in the future, if wearable medical equipment are made better, healthcare officials could monitor every patient more accurately and at the same time, can act more promptly during emergencies. For instance, a band-aid that can detect pH levels of the skin, and notify it to the nurses in case of an anomaly can be very helpful for the patients and nurses alike.

Generic medicine

What is generic medicine? Generic medicine, in a way, demonstrates bioequivalence by being the same as an already marketed brand-name drug in dosage form, safety, strength, route of administration, quality, performance characteristics, and intended use. In simpler words, it is a supplement of a renowned branded drug that can provide the same results with minimal side-effects. Thanks to technology, people can also check which generic drugs are actually approved by authorities and are safe to consume.

Stressed out about your medical expenses? Do not worry. Now, with the Bajaj Finserv Digital Health EMI Network Card, all your medical expenses can be split into easy EMIs. The Digital Health EMI Network Card can be instantly activated, and comes with a pre-approved limit of up to Rs. 4 lakh. It covers various aspects like eye care, dental care, maternity care, hair transplant costs, pharmacy bills and hospital bills.

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