According to research firm Gartner, annual healthcare spending on technology now exceeds $240 billion, with market growth topping 10% each year. The caveat? While 96% of executives say that healthcare technology was worth the cost, more than 70% aren’t seeing the expected ROI. 

In part, this challenge comes from a plethora of choice. In today’s dynamic landscape where cutting-edge technologies and patient expectations soar higher than ever, the need for innovation has never been more pressing. Those who fail to embrace the rapid pace of change risk falling behind, unable to keep pace with the evolving demands of savvy patients. This not only jeopardizes their market standing but also leaves them trailing behind competitors who harness the power of innovation to revolutionize the healthcare experience. 

With healthcare software, services, and devices rapidly evolving, organizations need to select solutions that both fit their current objectives and are capable of supporting future goals. Put simply, technology spending without strategy isn’t enough to keep pace with changing the state of care. 

To help healthcare leaders effectively navigate technology investment, leading marketing, digital technology, and strategic experts at Avalere Health attended the Consumer Electronics Show (CES) Digital Health Summit to explore the trends on the horizon and enhance our knowledge of how our clients can effectively implement new technologies to drive success. 

Trend #1: Building a home health ecosystem with connected technology 

Home health is now an integral part of patient-centered care. What began as a way for clients to connect with care professionals for basic evaluations and advice has evolved into an interconnected ecosystem that empowers patients to manage every aspect of their healthcare experience. 

By the numbers 

According to 2023 data from the National Institutes of Health (NIH), more than 80% of users say they would share health data generated by wearable devices with their doctors. This creates the ideal environment for at-home health ecosystems: users with health conditions are more likely to adopt digital devices, and the vast majority of users are willing to share health data. 

What’s happening in at-home health 

Products on display at CES highlight the impact of the at-home diagnostics trend. From cuffless blood pressure monitors to thermometers capable of taking temperatures, checking heart rates, and testing blood oxygen levels simultaneously, to at-home UTI tests that provide quick results and can be shared via apps with healthcare professionals, there’s no shortage of home-health innovation. 

Why it matters 

The primary benefit of health-at-home technologies is increased patient participation. With wait times for in-person doctor and specialist appointments rising, it’s easy for patients to feel like they are just another faceless set of symptoms. At-home health options give patients a measure of power over their diagnosis, care plan, and treatment options. 

Connected technologies also provide practitioners with the data they need to make informed decisions. Wearable tech and connected apps allow patients to provide healthcare professionals with a steady stream of relevant, real-time data that can be used to update treatment plans on demand. When patients and doctors then meet in person or via video chat, conversations can focus on what comes next rather than what’s happened. 

What does this mean for biopharmaceutical, medical technology, and wellness companies? 

While many patients are happy to leverage at-home solutions, in today’s digital era, certain groups are increasingly comfortable with sharing their health data and embracing various forms of technology. There is a delicate balance between the benefits of health-at-home technologies in enhancing patient care and the potential risks to patient privacy and data security. 

Patients entrust healthcare providers and technology vendors with sensitive information about their health status, lifestyle habits, and personal preferences, expecting that this data will be handled securely and ethically. As such, implementing robust encryption measures, access controls, and regular audits to safeguard patient information is essential. 

Beyond data privacy, effective collaboration among all insurance companies, healthcare providers, and healthcare professionals is crucial to ensuring that patients receive the best possible care. Central to this collaboration is a commitment to prioritizing patient interests and privacy at every step of the journey. 

By working together and maintaining a focus on patient well-being, we can navigate the complexities of modern healthcare delivery and create a more seamless and patient-centered experience for all. 

Trend #2: Bridging the care gap with democratized devices 

No patient should ever be left behind. That’s the goal of digital health technology — but it’s not always the reality. For low-income families or those in technologically underserved areas, accessing remote health services or taking advantage of health monitoring apps may not be possible. This digital divide creates a care gap that can leave many patients frustrated. Democratized devices offer one way to bridge the gap. 

By the numbers 

As noted by Forbes, more than 40 million Americans don’t have access to broadband internet. This puts many digital health services out of reach, leaving patients with no choice but to see doctors in person or avoid making appointments. 

What’s happening with device democratization 

Efforts from companies such as Elevance Health are looking to bridge the gap. At CES, the company announced a program to put smartphones in the hands of Medicaid members who otherwise wouldn’t have access to virtual medical services. Backed by the FCC’s Affordable Connectivity Program, the program is rolling out in several states later this year with plans to eventually include all Medicaid members nationwide. 

Why it matters 

Device democratization matters because it helps level the playing field. If patients have access to mobile technologies and applications, they’re better able to track health metrics, connect with care providers, and create treatment plans that meet their needs. These devices also provide a way for patients to stay in touch with healthcare professionals even if they live in rural areas or lack the resources to regularly see providers in person. 

How democratized device trends impact biopharmaceutical, medical device, and medical wellness organizations 

While the Elevance Health program is starting small, it’s the bellwether for similar efforts by organizations to improve the patient experience. By closing the digital divide, companies can transform the lives of the full patient population and build more authentic relationships with communities and healthcare professionals. 

One potential challenge of developing any platform or application, particularly on mobile devices, lies in ensuring a seamless user experience (UX) on mobile devices. While the usability of mobile devices is generally improving, making navigation more intuitive, there are still instances where users may encounter limitations. 

Simple tasks are becoming easier to accomplish, thanks to advancements in mobile technology. However, the complexity of data collection, especially through third-party or integrated apps requiring user permissions, may pose challenges that need to be addressed through configuration. 

Ultimately, the ease of use rests on the shoulders of the organizations behind the technology. Their design considerations and attention to UX will play a pivotal role in determining how smoothly users can interact with the platform. 

Trend #3: AI and automation will help drive early diagnosis of disease 

From addressing physician burnout to driving early diagnosis of disease, the promise of AI was a major theme at this year’s conference. 

The latest leaps in AI technology have enabled the rapid processing of large data sets at scale. This coupled with the increased accuracy of predictive technology, could drive personalized healthcare recommendations that ensure people live healthier lives for longer. 

By the numbers 

AI is already being used to diagnose diseases from cancers to cardiovascular diseases and researchers are also using the technology to model outbreaks of viruses and predict viral mutations. 

For example, researchers at UC San Francisco leveraged AI technology to analyze data on 5 million patients in its clinical database and found they could identify people who would develop Alzheimer’s disease seven years in earlier, with 72% predictive power. 

Another study found that AI was better at detecting early breast cancer than radiologists, with the technology detecting the cancer 91% of the time compared with a radiologist who detected the disease 74% of the time. 

What’s happening in AI 

AI is now accurate and reliable enough to digest and synthesize both structured and unstructured data to help enhance healthcare analytics, creating huge efficiencies. Once integrated with large language models, the technology will be able to highlight previously unrevealed insights in an automated fashion. 

Why it matters 

AI matters because it offers a new frontier for healthcare. It’s a game changer and a catalyst for organizational success. GenAI tools can provide incredibly specific answers to complex healthcare questions. When combined with automated approaches, the potential of the technology for scouring large genetic databases to determine who is at risk of developing a disease and drive faster and more accurate diagnosis is immense, making it a potential game changer for transforming patient outcomes. 

How AI trends impact organizations 

The ability to adapt and integrate AI and automation technologies seamlessly will be the defining factor that separates the trailblazers. 

Two characteristics of AI are noteworthy for healthcare organizations: speed and security. 

First is speed. Consider the rapid rise of tools such as ChatGPT. Within months of its release, it had amassed millions of users — its success paved the way for other GenAI tools and the rise of large language models (LLMs) collectively capable of providing near-human-level responses. As a result, businesses must be prepared to keep pace as AI continues to evolve. 

From a security perspective, meanwhile, both the nature of AI itself and the data it handles presents potential risks. By their nature, AI tools are designed to answer questions — but these answers aren’t automatically accurate. Depending on the type of data available and the question asked, these tools can return answers that look correct but are entirely wrong. And given that these tools are handling personally identifiable information (PII) protected under HIPAA, GDPR, and other regulations, companies must know exactly how, when, and where this data is being used. 

Thankfully, solving for both speed and security has the same answer: humans in the loop. By making skilled staff central to the implementation, application, and evaluation of AI, businesses are better prepared to capture its benefits and navigate its pitfalls. 

This human-centric process is essential for building and maintaining trust and ensuring a strong emphasis is placed on governance and patient privacy. 

2024 trends: making the move 

At-home health, democratized or broad access to technology, and the rise of AI are all part of a larger healthcare trend: patient-centered care. In 2024 — and beyond — organizations that can offer solutions that put patients first are better equipped to drive sustained success. 

At Avalere Health, we believe a digital strategy is a key component to the work we do, allowing us and our clients to stay ahead of the curve. 

 

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