2022 statistics & industry trends

The coronavirus pandemic expedited the digital transformation underway in healthcare, and sufferers and suppliers alike noticed advantages to the brand new tech and digital options. Telehealth appointments, distant affected person monitoring companies, and amended insurance coverage choices had been capable of lengthen high quality care to shoppers at a faster and less-expensive charge. 

However incumbent healthcare establishments ought to maintain a watch out for large tech firms encroaching on their area, as firms together with Alphabet, Amazon, Apple, and Microsoft attempt to sway shoppers from conventional healthcare gamers by consumer-first, tech-focused approaches. 

Under, we run by the developments and transformations going down throughout the healthcare ecosystem, and description what conventional well being gamers can do to remain forward of huge tech opponents. 

Key digital developments within the well being ecosystem

What’s digital well being? Whereas the healthcare business was slow-moving when it got here to digital options, COVID-19 upended the whole well being ecosystem, together with insurance coverage, healthcare supply, and pharmaceutical areas. Suppliers had been pushed to undertake know-how—together with telehealth, distant affected person monitoring (RPM), and synthetic intelligence (AI)—to successfully deal with sufferers from afar.  

Telemedicine is a growing part of the digital health ecosystem. - Insider Intelligence
Telemedicine is a rising a part of the digital well being ecosystem. Insider Intelligence

In consequence, insurers needed to deal with hurdles inhibiting sufferers and medical doctors from utilizing telemedicine—like copays and unclear reimbursement pathways. 

 Pre-pandemic, 54% of US adults stated they’d use telehealth if it meant saving cash, per Amwell.

Healthcare supply shortly turned to distant care alternate options as hospitals and different healthcare firms had been pressured to cut back non-emergency visits. Pre-pandemic telehealth adoption charges had been hovering round simply 11%, however that share shot as much as 36% by August of 2020, per CivicScience.

Pharmaceutical firms like Pfizer, Moderna, and Johnson & Johnson took middle stage amid the pandemic as leaders in vaccine growth. And the fast adoption of digital well being tech will proceed to work of their favor as they iterate to fight new strains of the virus—using AI permits pharmaceutical firms to expedite the drug discovery course of, and in flip, get monetary savings.

Elements fueling the digital transformation of healthcare

  • Decrease value: Pre-pandemic, 54% of US adults stated they’d use telehealth if it meant saving cash, per Amwell. And with suppliers trying to see continued advantages from telehealth investments, they’ll seemingly preserve decrease prices transferring ahead. 
  • Accessibility: Shopper demand for hyper-convenient care has skyrocketed, and practically one-third of millennials say that going to get a bodily isn’t handy. With millennials making up the biggest chunk of the US grownup inhabitants, suppliers are growing handy choices like digital care and on-line digital well being companies.
  • Worth-based care fashions: Insurers are driving the shift to valuable-based care (VBC), forcing suppliers to deal with optimistic affected person outcomes slightly than the variety of companies given. And digital instruments, like AI-enabled analytics, are serving to to optimize care with out compromising prices. 

Like what you’re studying? Click on right here to study extra about Insider Intelligence’s main Well being analysis.

Physicians see a need for a shift towards value-based care. - Insider Intelligence
Physicians see a necessity for a shift in direction of value-based care. Insider Intelligence

How the well being ecosystem was affected by COVID-19

The “new regular” in healthcare is essentially introduced on by telehealth and digital know-how. Multiple third of shoppers used telehealth by August of final yr. And whereas the uptick in adoption was largely brought on by stay-at-home orders and social distancing, telehealth will seemingly stay in style transferring ahead. 

Moreover, telehealth is a potential answer to the upcoming supplier scarcity—the US might even see a scarcity of 122,000 physicians by 2032 and 670,000 healthcare employees, together with nurses, by 2025.

Telehealth has additionally proved to cut back medical spending and restrict pointless hospital visits. Due to this, suppliers will seemingly proceed providing telehealth companies as  a method of offering high-quality, distant care lengthy after the pandemic. Along with benefiting healthcare suppliers, telehealth may even be a well-liked possibility amongst shoppers as adoption continues growing.

Telehealth has also proved to limit unnecessary hospital visits. - Insider Intelligence
Telehealth has additionally proved to restrict pointless hospital visits. Insider Intelligence

As talked about in Insider Intelligence’s Digital Well being Ecosystem report, demand for digital care will stay excessive since 83% of US adults say they’ll wish to use telehealth even after the pandemic, per a survey.

Well being ecosystem forecast for 2021

Whereas some elements of the healthcare ecosystem are robust to foretell transferring ahead, one factor is definite: digital healthcare is right here to remain. Money-drained supplier organizations will nonetheless seemingly must depend on telemedicine to hook in revenues from sufferers who’ve grown accustomed to telemedicine’s comfort in current months. 

There will be 57 million US telemedicine users this year. - Insider Intelligence
There can be 57 million US telemedicine customers this yr. Insider Intelligence

One other ingredient to regulate this yr, is the US division of Well being and Human Providers (HHS) information sharing mandates. The HHS rolled out mandates to enhance interoperability amongst suppliers, payers, and well being methods—however it put compliance on pause to present healthcare entities time to get well from the impacts of the pandemic. 

On account of these mandates, Insider Intelligence expects interoperability service suppliers that make it simpler to standardize and combine affected person information to see elevated consideration from hospitals 

One other sluggish however regular pattern making its method within the digital well being area, is digital therapeutics (DTx). The pandemic-induced digital care growth catapulted DTx into the limelight, inflicting huge spikes in adoption of DTx instruments.

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