How the Healthcare sector seeks to reap rewards through innovation
Considering the effects of the ongoing pandemic, companies of all kinds are looking for new, unconventional alternatives to assist development and integration practices. However, healthcare companies worldwide are demanding innovation more than ever, to push efforts for finding a vaccine, or better; a cure for coronavirus.
Trial and error methods for medical companies can incur a huge cost, and it’s because of this that they must now invest in some of the best tech in order to find anything revolutionary. But what is it that drives this innovation?
API’s and their ability to present data and integration services, is the product of decades of technological evolution, and the lessons which have been learned along the way. Usual methods of development and integration have proven to lack velocity and so lack in contribution to understanding and responding to the current health crisis, which as we know, is ever-changing.
It’s reasonable to say that although this will affect many industries, the healthcare sector is likely to be the one most in need of improved efficiency of API’s during this time. By collecting and analysing data from the healthcare community, it should be apparent that there is room for improvement as it stands. Recognising where this opportunity is will be the critical factor in presenting both clinical and financial rewards to the healthcare industry amongst others.
There are many companies out there which make example of making best use of API’s, to accelerate their research. Such companies include Babylon, Mirada and DoctorLink, who’s CEO, Rupert Spiegelberg explains ‘Covid-19 could well go down in history as the moment of profound change’ in the use of technology and that ‘even sceptics are being forced to acknowledge the benefits of video conferencing’. This comes after Doctorlink reported a 292% increase in it’s video consultation tool from March to July, in comparison to the three months prior to this period.
Speaking on the matter, Jorge Garcia de Bustos, Technical Presales Consultant at Godel Technologies, explains that he sees “similarities between healthcare and banking industries; providers in both of them have traditionally been very resistant to sharing data. Regulators forced the finance sector to open their books and collaborate, through the use of OpenBanking APIs. I think a similar shift is long overdue in the healthcare sector; industry players who are not actively working in this direction risk getting caught when the tide changes”.
This report explains a general model for understanding different API-based and non-API-based products in the market. On top of this, the report identifies how API’s are already contributing to development and integration efforts for healthcare, before estimating their lager potential.