Posted on September 8 2015
With the onset of advancement in IT industry a new challenge arose. The new question that stood before every IT giant as well as Service Provider was to make an efficient and dynamic contribution to the healthcare industry with the services possessed. Coming freshly from an era of tiring paperwork and pauperized record keeping IT industry advanced the HealthCare Industry towards an efficient as well as improved health care system. IT industry gave a data driven growth through analytic and modernized approach that helped improve medical services and clinical outcomes. These events led to a better physician incentive model.
Companies harnessed domain expertise and deep understanding of healthcare services to cash in everything and so the healthcare industry grew up to be an investment hub for Big as well as small stakeholders. The conditions of patients improved, delay in services came to halt, human anatomy as physicians & doctors knew changed forever. An example could be the modern day’s psychologist – patient meet which mostly occurs on skype as per reports from doctors or the IT infrastructure managed services and security services. And so the healthcare industry became a cost competitive market where competitors standardized and simplified core operations. Some (if not all) business outcomes that has been visible in the healthcare industry is
• Medical claims being settled with ease
• Government employees get health benefits on a regular basis with an improved record keeping
• Response time to reach for patients in distress or fatal conditions has been reduced to 4 minutes
• Claim processing time has been decreased from 2 days to .69 days.
• Health care industry in India has crossed hundred billion dollar mark in 2015
• India is the third largest exporter of pharmaceutical products of which 80% pharmaceuticals fall in the low cost barrier which has a major impact in Indian healthcare industry.
Patients have become the center of focus for driving the life sciences and healthcare industry, leading to an enhanced collaboration amongst Companies, healthcare IT service providers, and other organizations thus forming an ecosystem. This ecosystem, in modern days has been focusing on a pragmatic and sustainable approach to get competitive advantage by adopting technological advances such as BIG DATA, CLOUD, MOBILITY, SOCIAL MEDIA, and Digitization which lead to simplified operating environments despite the constantly changing healthcare ecosystem.
With the advancement in current technological scenario and the demand for a sustainable and less energy consuming units, a need of green hospitals or hospitals that use efficient ways with pragmatic approach to curb energy use has been felt. Entrepreneurs have developed a healthy ecosystem where in energy consumption of a hospital has been reduced by 50% when compared to other hospitals of same capacity or size. This need has been realized and is being worked upon by IT sector such that there comes a complete turnaround in the way hospitals operate.
The IT industry has opened a window to the future of healthcare, and gives immense opportunity for hospitals across the country to reshape and reorganize themselves as the competition would heat up soon. With this the Indian healthcare industry is expected to be worth $125 billion by the end of this decade. And since public spending is likely to increase by one fifth of current spending’s, there is room for everyone in the organized private healthcare sector.
Globally Care Delivery Organizations have been adopting new models that reshape the way Care is financed, provided and managed. Cram has made sure with its services that new care models like Accounts and managerial works are processed with ease and top class convenience. Cram’s contribution has been highly appreciated and welcomed by leading healthcare providers. Crams recent project involved a highly sustainable model of medicine accountancy and bill records.
Cram has been working at odds to enable technology guided business transformations for the clients by helping them transform their current areas into a future ready infrastructure with a single vision of data across the enterprise. Indian healthcare and pharmaceutical industry has huge potential that can outweigh other countries like China or the U.S. Customers today have become weary of the older system and demand quick response from hospitals, demand better quality care and billing is less of an issue as nearly 40% of urban population has insurance to cover up their bills. So the big picture in current scenario is of an over the edge change being witnessed.