How an evolving data ecosystem is transforming the healthcare industry
We live in interesting time, where everything is changing. While data has become a commodity, information analytics now deliver us new interesting insights and thus, consumers expect more and better services. We see how wearables have changed our life. We use running shoes that have sensors embedded to track where we’re going, the distance we’ve traveled and calories burned. We even don’t need to carry a smartphone when out for a run. The shoes collect data from up to five workouts, so we can leave mobile devices at home and sync up to the app later. Healthcare professionals can now remotely monitor patient health and keep in touch with them by wirelessly capturing data from their medical devices. Smart contact lenses for diabetic patients could monitor their blood sugar levels by analyzing glucose data contained in tears. More intelligent, instrumented, interconnected devices are around us than ever before.
These new generation of mobile devices–like fitness trackers, home monitoring devices– enable people to collect data about themselves, connecting them with health advisors anywhere, anytime. The need for data sharing is creating new connected ecosystems, where participants can collaborate, exchange the information, collect data, and provide new services is increasing. The product centric model where the OEM’s (Original Equipment Manufacturer’s) main objective was to develop the product/device, is moving to software and services model, with the focus on Information, Integration, Analytics, Cloud and IoT. When designing new devices, companies need take into consideration that new developed products will be used by consumers with different needs across different geographies. And to better serve consumers, OEMs need to analyze historical data, perform sentimental analysis, develop new models, and find new approaches to reach to the customers. To be a differentiator, product innovation need to be done in new ways, expanding it into services and solutions.
The transformed data ecosystem
The healthcare industry has been going through tremendous transformation, forcing other players in the ecosystem around it to transform themselves. This transformation is happening at three levels:- Device makers, the creators of the medical devices for rehabilitation, treatment, prevention, diagnosis, physical activity tracking
- Users that use such equipment to provide health care, such as physicians, laboratories, and hospitals
- Payers and insurance providers, who contribute to the payment of the device use and service
- Data about the devices, equipment functionality and performance data that is aggregated with data from millions of other devices. This data help us to assess equipment quality, usage, and services, generating insights that are integrated into the equipment providers’ operations, including product development, manufacturing, supply chain management, and services.
- Data about consumer/patient, who use these devices, aggregated with advanced clinical analytics solutions to compare their data to millions of research articles, clinical practices, similar patient cohorts, and other data sources to enable providers to more easily diagnose the patient and adapt the optimal care path, providing remote monitoring.




