Maybe you’re looking to invest your hard-earned dollars into the industry that puts a roof over your head. If that’s the case, healthcare presents numerous investment opportunities. But before we continue with this post, let’s get one thing straight: This is not investment advice. Though healthcare continues to be a growing sector of the economy — one about which Deloitte recently said the old adage of “what goes up must come down” doesn’t seem to apply — the only certainty in investing is uncertainty. You could invest all of your money in healthcare and still lose your shirt. Think of these growing healthcare tech sectors as where you could invest your money, not necessarily where you should invest your money. Use your discretion and/or work with a professional financial advisor. Medical Internet of Things The Medical Internet of Things (MIoT) includes any device you might find in a healthcare setting that is connected to a wifi network, or patient wearable devices. Common MIoT devices include hospital beds with sensors, infusion pumps, systems that track medications, and medical supply/inventory systems — even something as simple as a Fitbit. MIoT devices present several care advantages. They collect patient data, allowing for more customized care. These wired devices facilitate patient-centered care by gauging patient needs, often in real time. MIoT devices also help to lower healthcare costs. 5G Leading wireless carriers, such as Verizon and AT&T, are already rolling out 5G LTE networks in select cities. Here’s a primer on 5G if you’re new to the topic. While enhanced speed is stealing all of the 5G headlines, the most direct application for healthcare is its reduced latency, or lag. First, think of the increasing number of MIoT devices. In a perfect world, they would work quickly anywhere, and with minimal lag. Widespread 5G LTE coverage could, theoretically, facilitate this. 5G might also usher in telehealth to remote locations. Perhaps the most futuristic innovation would be the ability for surgeons to operate, using robotics, from anywhere in the world, due to reduced latency. Telehealth You’re likely familiar with Telehealth by now. Of the leading trends in healthcare technology, telehealth is arguably the one that has caught on most within the past five years. This is not without consequence. PhysicianSense contributor Ben White, M.D. recently wrote a bit about the topic here, citing a JAMA study that showed that patients who received prescriptions were more satisfied with their telehealth care than those who didn’t. That said, in the era of value-based care, telehealth isn’t going anywhere. Patients enjoy its convenience. Companies that can improve the quality of telehealth care delivery are likely to thrive. Cybersecurity In a healthcare setting where everything is connected, how do you secure patient data? Chances are, your patient data isn’t as secure as you might think. Is it only a matter of time before a major healthcare breach stems from an MIoT insulin pump? These are questions that healthcare organizations and the cybersecurity firms they employ will have to answer. And, they’ll have to answer them while staying on the right side of government regulators. Deloitte writes in it’s 2019 Global Healthcare Outlook: “As data is becoming the new health care currency, protecting it will be key.” All of that data is valuable to cybercriminals. AR/VR Augmented reality and virtual reality are two relatively nascent technologies in healthcare. Both have the potential to be transformative. AR could be used to better explain to patients how a drug or procedure will affect them. AR is already being used to assist in brain surgery and in the integration of medical images. For example, one app overlays medical images onto patients. Similarly, VR is also currently in use in healthcare. Applications exist for promoting patient relaxation, pain relief, bodily awareness, and in instances of mental illness or dementia, deciphering what’s real and what isn’t. TL;DR Looking for a place to invest your money in healthcare? Here are some of cutting-edge technologies: Medical Internet of Things: Internet-connected medical devices that collect patient data and promote enhanced care 5G: The LTE technology that will (perhaps) connect all wired healthcare devices in the future Telehealth: Consumer-driven communication solutions that allow doctors to meet with patients through video and audio connections Cybersecurity: Someone has to keep all of these devices and patient data safe Augmented Reality and Virtual Reality: AR has the potential to put more information at doctors’ fingertips while working, and VR has the potential to relax patients/address pain Source
