Digital Transformation of Healthcare
How many times have you heard the words “digital transformation of healthcare”? I know it seems cliched, overused, and kind of like a new buzzword that you are already tired of hearing.
When I took on the role of managing Inovalon’s DataStream API Marketplace™ and “productizing” API solutions, I had to sort of “peel back the onion” of digital transformation one layer at a time. The good news is, much like everyone in healthcare, I have truly realized the need for digital transformation. The power of digital transformation and its effect on other industries such as retail and transportation is evident. I’ve begun to realize that I’m at the beginning of a tsunami of transformation that is to happen. Through this blog, I want to share my take on what it means to digitally transform healthcare as we know it today.
Why should you care about this?
As you have experienced yourself, technology is here to transform you. Think about what that really means.
When was the last time you went to a video store like blockbuster or rented a DVD from Redbox? How often do you go to an ATM these days to withdraw cash or to an airport to buy flight tickets? While you may still go to your local store for grocery shopping, the pandemic has definitely shifted that trend too! Everything is at your fingertips on a digital device connected to the world, and the beauty of this is it is centered around you, the customer. So clearly, technology has transformed you, and that is what we define as digital transformation.
As we continue to introduce this concept, it is important to understand the core principles that make digital transformation meaningful and impactful:
- Capabilities & Resources
- Customer Centricity
- Agile Technology and Cloud Infrastructure
- Data Security and Encryption
Applying the core principles creates instant customer value and innovation, but how does that relate to the healthcare space? Before we talk about transformation in the healthcare ecosystem, it is important to acknowledge the challenges we see in healthcare today:
- Complex patient experiences that include tons of paperwork.
- Distrust with the healthcare system due to a lack of price transparency.
- Fragmented healthcare data in multiple places or different patient portals.
- Securing fragmented healthcare data and managing it responsibly.
Applying the core principles can truly help resolve these challenges and evoke thoughtful digital transformation. Inovalon’s DataStream API Marketplace™ was created with that exact intent—not only to transform healthcare digitally but to enable innovation and problem-solving.