Tuesday, October 5, 2021
Big data in healthcare has become one of the most sought-after commodities of our time.
Big data not only has the potential to revolutionize healthcare from top to bottom, but healthcare organizations are increasingly relying on big data to provide better patient outcomes, save on costs, and build efficiency across all areas of the healthcare spectrum.
More importantly, big data will help clinicians and hospitals provide more targeted medical care and achieve better results at more optimised costs. For pharma companies, it is also a driving force that’ll help to design and build more innovative medicines and products. Healthcare stakeholders are now even relying on big data and predictive analytics to tackle major global health issues and address future challenges and the immense costs linked to global events such as a pandemic.
As the healthcare industry is making incredible scientific advances and leveraging technology like never before, data has become one of the most sought-after outputs now akin to a precious commodity.
Furthermore, governments spend up to 10% of their GDP on health and NGOs and development agencies billions of dollars a year in medical aid to emerging economies, nevertheless, access to reliable sources of data remains poor due to non-existent or inefficient data collection frameworks. The potential cost-savings for these institutions of gathering large volumes of quality data is therefore significant.
The global Big Data in Healthcare Market is now forecast to be worth USD 78.03 billion by 2027, according to a current analysis by Emergen Research.
The growing adoption of big data in healthcare is also revolutionizing how the industry delivers much more precise and personalized care. Data analytics tools have been developed that provide better clinical support, cost of care measurement, and at-risk patient population management with the potential to predict outbreaks of possible epidemics, to avoid preventable diseases, and enhance the quality of life in general.
However, despite the increasing growth and demand for this sought-after commodity, the incorporation of big data capture and analytics in healthcare has fallen behind other industries, not only due to the lack of reliable data collection frameworks but also due to rising concerns over health information privacy, security, budget constraints, and siloed data.
This is all about to change with the integration of the Blockchain to Electronic health records. The Blockchain now provides the critical privacy and security to enable the gathering and integration of large-scale data at very low costs and the interoperability of Blockchain data with other existing sources.
Immunify.Life has developed a unique and game-changing ecosystem. Powered by an AI driven electronic health registry it enables the capture of large amounts of quality health data, secured on the blockchain. The ecosystem has been designed to operate efficiently in both high and low income settings and at a minimal to no cost, whilst protecting patient identities, securing the data and ensuring wide scale adoption and optimal interoperability and integration with other data sources.
Big Data in healthcare is about to become even bigger, and data more secure with the numerous healthcare benefits shared more globally and equitable than ever before.
