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Why is Digital Transformation the Need of the Hour for the Healthcare Industry? – The Financial Express

By Mr. Bhaskar Ganguli
For several years, numerous organizations have had digital transformation as a goal, but it has been neglected due to competing priorities. Traditionally, developing and implementing a technology-driven strategy took years. But with the COVID-19 pandemic and its impact on businesses, the adoption rate of the latest digital transformation trends has quadrupled. Furthermore, the reliance on relevant technologies such as machine learning, artificial intelligence, cloud computing, and so on has resulted in faster advancements. In this scenario, the healthcare sector is also undergoing significant technological advancement, becoming necessary for the industry’s future growth.
According to IBEF, India is one of the few countries that has emerged as one of the world’s fastest-growing digital economies in recent years. To improve accessibility, the Indian healthcare sector has gone digital. Furthermore, the digital healthcare market in India is poised to reach $485.43 billion by 2024, with a CAGR of 27.42%.
In the business world, digital transformation refers to using technology to alter business operations. Technological innovation contributes to revenue growth by accelerating growth and improving efficiency. Thus, embracing digital change in healthcare benefits the industry. Patients, healthcare providers, and industry stakeholders are all going digital, opening up new opportunities while removing barriers to patient treatment outcomes. The transformation also includes software and websites that offer various services to patients needing medical care, such as consultation. Along with the benefits, the industry faces challenges that can stifle growth.
With so many patients visiting each health centre, it is critical to implement digital strategies and solutions to provide faster patient care. Dealing with a massive volume of patient records, in particular, is frequently difficult for most healthcare organizations, negatively impacting patient care. With the changing trends, here are some cons to consider:
Since technology is constantly evolving, the healthcare industry frequently requires maintenance and updates. It may be difficult at times, but it is for the benefit of the clients and patients so that the apps and websites and the features developed for the respective users are easily accessible.
The use of digitalization has increased as intelligent technology rise in prominence. Cyberattacks have become common in this scenario, and hackers are stealing data. Hence, it has become essential to remember that before digitizing the healthcare business, healthcare providers must consider all facts and become aware of cyber threats. However, it can be prevented to a certain extent with appropriate technology.
As the adoption of digital transformation is becoming the indispensable need of the hour for the healthcare industry, it reaps the benefits that are aiding potential growth for the sector in the coming future.
The use of digital transformation has had a variety of positive outcomes and is quickly becoming the need of the hour for future success. With digital transformation innovations, the healthcare industry will reap unrivalled benefits and advance to the next level. Here are some of the significant edges that the industry will gain from the overall digital transformation:
The healthcare industry relies heavily on communication to provide patient care. Therefore, digital transformation allows for more efficient and smooth communication among all stakeholders. Furthermore, with the assistance of change, the industry will save significant time. As a result, thanks to 24/7 access to patients’ health records and real-time coordination, healthcare providers can save many lives with innovations.
Since the healthcare industry is patient-centred, it is critical to use advanced procedures for precise and proper diagnosis and treatment. AI and machine learning (ML) will drive automation and streamlined workflows in various clinical practices and diagnoses. These intelligent technologies have the potential to transform aspects of patient care. AI, for example, can significantly improve the efficiency of administrative processes within healthcare and pharmaceutical organizations.
Integrating various digital transformation technologies enables healthcare providers to deliver more effective and personalized patient care. In a nutshell, the industry will embrace digitization as part of a comprehensive strategy to drive growth for future opportunities.
Technology advancement is a continuous process. Innovation is gaining traction as time and trends pass, benefiting the healthcare industry. Although, digital transformation reaps many benefits that will improve the sector and positively impact healthcare, patients, and clients. Digital transformation appears promising, particularly in the healthcare industry, and with the volatile world’s changing dynamics, it is becoming a requirement for robust growth.
(The author is the Director, Mass Software Solutions. Views expressed are personal and do not reflect the official position or policy of the

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