Why is Precision Medicine Gaining Popularity in Healthcare?

Why is Precision Medicine Gaining Popularity in Healthcare?

Healthcare Tech Outlook | Monday, August 10, 2020

The idea behind precision medicine has always been the aim of healthcare providers, and it’s becoming truly achievable with recent technological advancements.

FREMONT, CA: The healthcare environment is in the turmoil of disruptive changes, with new technologies promising revolutionary advances in medicine and life-extending therapies. As a result, continuing to accelerate innovation in health while reducing the cost curve is a vital pain point for the years to come. Technology solutions have arisen with the development and evolution of the principles of precision medicine, where innovations are making breakthroughs possible on a patient-specific basis.

Top 10 Telemedicine Solution Companies - 2020The quest for personalized care means offering the right drug to the right patient at the right time. Achieving a personally tailored therapy is not a simple process, but breakthroughs in developing precision medicines are making huge in-roads. The growth of mobile and wearable technology has created new markets in healthy living and also changed patient expectations for more holistic care approaches with a personalized experience beyond the pill. For healthcare providers, this makes enhancing the patient experience at the hospital and home care with telemedicine, telehealth, and teleconsultation critical.

For years, healthcare models have revolved around the curative care process. Healthcare innovation brings a revolutionary promise, a move towards prescriptive care. This will require changes in healthcare value chains. Challenges are not merely the rollout of value-based care models tied to patient outcomes to favor economy but the development of outcome-based payment models, enabling care to be rewarded with proactive support for their patients’ health, with economic incentives, and precision medicine makes this possible.

Faced with the demand to care better for less, it is essential that healthcare providers develop more effective clinical pathways. This requires a reduction of clinical and administrative redundancies and a transformation to low-cost, standardized clinical processes, like a better use of generics, shared service centers, and many more. To succeed, healthcare players can improve treatment coordination by developing electronic health records (EHR). They can help caregivers in diagnostic, monitoring, and process management tasks in precision medicine. And they increase collaborative productivity and faster communication between medical teams, administrative staff, patients, and other stakeholders.

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