If there is one thing summer will bring besides warm temperatures, beach trips and outdoor cookouts, it’s change. As we learn to adapt to the post-pandemic world, the healthcare industry is also adapting to keep up with the latest advancements. Let’s take a deeper look at the policies and practices that healthcare professionals believe will have a major impact on the industry.
Artificial intelligence (AI), referring to the simulation of human intelligence in machines , has made its way to healthcare. Demand for better COVID-19 testing protocols and vaccination procedures prompted the healthcare industry to invest heavily in AI. Utilizing the powers of AI has produced many notable advances, like better patient outcomes, improved diagnoses and increases in revenue. Most recently, AI has been utilized as a predictive tool to determine early signs of cancer, cardiovascular disease, osteoporosis and other serious health conditions.
The advancement of personalized medicine is moving us closer to more predictable and powerful health care that is customized for the individual patient – which benefits everyone. Hyper personalization, an emerging industry advancement, is a form of precise medicine that provides custom-made treatments to patients beyond the initial diagnosis. The market value for this form of medicine is predicted to reach $3.18 trillion by 2025, and there are four factors that will help it get there: the availability of big data, the adoption of electronic health records within systems, advancements in machine learning and artificial intelligence and The Orphan Drug Act.
Prescription Drug Spending
A study from the American Journal of Health-System Pharmacy said that overall prescription drug spending is expected to rise from 4% to 6% in 2021. In addition, a spending increase of 7% to 9% is expected in clinics and 3% to 5% in hospitals. There are multiple factors that are likely contributing to the increase in prescription drug spending, including the increased costs associated with the development of rare disease treatments, cancer drugs and the FDA approval of specialty drugs.
While the future of the healthcare industry is unfamiliar and ever-changing, gaining access to your prescription medications is not. The Community Cares Rx prescription discount program guarantees easy and affordable access to your prescription medications using online pharmacy locators and price comparison tools.
For more details on Community Cares Rx and other programs that provide costs saving on prescription medications, please visit http://www.paramountrx.com/.