Consulting Services Use in Healthcare: Trends
The research covers two current or future trends in the healthcare consulting services space, which showcases in the findings, reasons why they are considered trends. The two trends include Artificial Intelligence momentum and making the patients paramount through technology.
- Artificial Intelligence is the process by which tasks exclusively carried out by humans are now being done by AI technology.
- AI is gaining momentum in the healthcare consulting services sector as firms are now deploying robotic process automation (RPA) to handle tasks originally done by humans.
- Healthcare consulting services now are using AI to automate monotonous tasks, create tax and financial efficiencies, streamline regulatory conformity and automate sections of the supply chain.
- The utilization of AI is also applied by healthcare staff for analyzing routine radiology or pathology results much quicker and with precision. This allows them to see more patients and increase their revenue.
- An example of AI in healthcare consulting services is Wildfire, which has been used to assist image analysis solutions for the healthcare sector.
Why it is Considered a Trend
- It is considered a trend because there are at least some healthcare consulting firms researched so far, already identify with this trend. The names of a couple of such firms are McKinsey & Co., and IQVIA.
- Another reason this was chosen was that it is also a major trend with other industries outside this scope. This trend was chosen due to its relevance in the current healthcare consulting space. Many companies already are leaning in this direction as big data is now a major consideration.
- Also, according to PwC’s GSISS survey, about three-quarters of health executives are interested in leveraging AI in the next three years.
- Healthcare consulting firms are using tools designed with project-based work in mind to handle repetitive tasks such as scheduling, accounting, and timesheet entry that require automation using AI tools.
- McKinsey & Company leverage over eighty-five advanced technology solutions, proprietary data, and skillfulness to assist clients in new ways.
- The consulting firm is utilizing AI for diagnostics, market intelligence, management technology, and analytics.
The Patient is Made Paramount through Technology
- By harnessing the power of data to improve patient experience through wearables, spending habits, and pharmaceutical apps, healthcare consultants can improve the patient experience.
- This is as many health organizations today provide services like scheduling, online bill pay, digital communications, and 24-hour nurse hotlines.
- About 49% of healthcare provider executives are keen on revamping the patient experience as a priority over the coming three years, according to PwC’s GSISS survey. Through the assistance of technology, patients can be placed at the center.
- Already, many healthcare services utilizing the role of chief patient experience officer, as a way of distinguishing their place in the market, through the patient experience.
Why it is Considered a Trend
- It is considered a trend because another source on the U.S. perspective on healthcare trends, provided the above as part of the current trends.
- The adoption of electronic health records (EHRs) has caused an increase in the interdependency of EHR possibilities, offerings and innovations to better represent patient data.
- Also, many start-up organizations are involved in developing these wearables for patients. Companies like Vivify Health, Royal Philips, Overlap, Doximity Dialer, and Human API just to mention a few.
- Healthcare consulting firms like United Healthcare, Humana, and Oscar Health are already leaning towards this trend.
- Oscar Health was able to partner with Cardiogram to bring wearable monitoring to members of Oscar Health.
- Cardiogram Care utilizes heart rate sensors on famous wearables like Garmin, WearOS by Google, and Apple Watch to determine patients with undiagnosed diabetes and atrial fibrillation.
- The goal would be to guide such patients to appropriate care.
To determine some current or future trends in the healthcare space, we searched through relevant sources like market research and data publications to come up with our findings. One of our sources obtained, deemed questionable according to standards, had some interesting examples for our research. To confirm the credibility of the information contained in this source, we found two credible sources supporting the findings, which consequently makes it valid.