Senior editor at Banyan Hill Publishing, and resident investment advisor, Paul Mampilly says we are on a new frontier for healthcare and e-medicine. A new pill, that’s digital, has been approved by the FDA. This pill communicates with a patch, equipped with a sensor, that is worn by the patient. This patch then sends data about the patients prescribed medication to a application that resides on patient’s smartphone. The patient can exchange the information for doctors, or other authorized healthcare staff to review. The way Paul Mampilly see’s it, this digital medicine is a gold mine for the economy.
Evolving To Digital Is A Natural Evolution
Electronic health care is considered an almost natural evolution of care in the digital age, destined to move more and more therapies and patient monitoring outside the hospital, driven also by the increasing availability of dedicated sensors and apps.
Experts estimate that digital monitoring of heart patients could improve survival rates by 15 percent, while it could reduce the number of hospital days by 26 percent, and consequently save 10 percent of healthcare costs. In addition, using electronic devices could reduce therapeutic compliance errors. Mampilly points out that it is also expected that digital medicine will be crucial to keeping healthcare accessible and affordable for all.
According to Paul Mampilly, with the increase of chronic diseases and the decrease of available resources, this new formula of modern medicine could become the best existing service worldwide. For the patient, there is constant monitoring, which can be useful to control the amount of prescribed drugs, hospitalizations, and days of therapy.
Will Freedom Be Limited?
The limits to our freedom is the most common concern. Should everyone be identified, filed and classified? The debate still comes back to “Big Brother” knowing everything about us, however says Mampilly, aren’t we already being voluntarily followed and monitored by the thousands of apps we give approval to everyday.
Digital transformation would certainly lead to a savings in healthcare, says Paul Mampilly, and overall, we probably would be able to improve services.
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