March 23, 2017
How Digital Technology is Transforming Healthcare
Three trends shaping the future of healthcare—and how BioIQ is responding
Technology continues to transform the healthcare industry, leading to the sudden demise of some companies and the rapid rise of others. Much of this disruption comes from widespread digitization of healthcare data and processes, such as the sharp rise in mobile apps and wearable devices that empower patients to play a more active role in their health. According to researchers at McKinsey & Company, more than a thousand companies are developing digital/mobile technologies to capture healthcare statistics, monitor patient compliance, streamline processes and coordinate care.
These personal health management systems are popular, in part, due to their ability to accommodate personal preferences—something that has been notoriously lacking in healthcare until now. Finally, individuals can choose how they wish to monitor their health and manage a variety of healthcare decisions. The data these systems and tools generate can also help employers build better wellness programs by holding participants accountable for personal health improvement goals.
However, as McKinsey notes, these scenarios require IT platforms that can integrate data from many different technologies. BioIQ is a pioneer in this space with its platform for population health measurement, which connects people to health tests and targeted wellness solutions through a comprehensive ecosystem of labs, staffing companies, digital health coaches and more. The BioIQ platform has become a central hub for sharing insight, driving participation, monitoring progress and tracking wellness measures.
Digitization is also evident in the growth of telemedicine, a market expected to hit $34 billion by the end of 2020. While this burgeoning market may be new, the factors driving it are not: an aging population, the growing incidence of chronic diseases, and a steady shift to value-based care—all of which motivate health plans and healthcare systems to monitor patients in their homes to cut down on the number and duration of hospital stays. BioIQ is paving the way for change with its longstanding emphasis on prevention and early detection of chronic disease. A decade ago, BioIQ’s popular at-home test kits set the standard for quality and convenience. Today, many regional and national health plans rely on these at-home tests—in conjunction with many other testing methods that are automated by the BioIQ platform—to streamline member care. BioIQ securely manages critical health data throughout these engagements. By connecting people with the care they need, BioIQ also helps health plans close critical care gaps that can improve their HEDIS scores, Star ratings and QRS ratings.
Another growing trend in the realm of healthcare digitalization involves big data from population health studies, which can be aggregated to build models for patient monitoring, population health management, and chronic disease care. The insight gained from these studies gradually influences the fundamental protocols that guide medical decision-making. As these protocols become more refined, doctors are better equipped to improve outcomes for patients.
As digitalization sweeps through the healthcare industry, health data becomes progressively more important—both for individuals and populations. BioIQ securely stores, manages and exchanges that data while guiding people to better health based on their identified risks. Individuals gain targeted information about how to improve their health—and healthcare organizations gain greater insight into the health of their member populations.