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Stephen Wise Blog

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Connected healthcare stephen wise

Disruption: Connected Healthcare

Rapidly converging technology advancements are disrupting all industries. Admittedly, my eyes glaze over from time to time when learning about BlockChain or Cyber-Security. I didn’t need these technologies before – why do I need them now? However, disruptive interventions in Health very real.

When I was in middle school, I had a friend living with Diabetes. This was a smart, careful, and aware kid. He was watchful with his diet and measured his glucose and administered his insulin faithfully. Yet, it was frequent that his blood sugar levels would get out of whack; it was very dangerous life-threatening condition. It has been about 100 years since Banting and Best discovered Insulin at University of Toronto, but we are still living in the dark ages managing the condition.

Consider the future: Aiden is a grade ten student diagnosed with Juvenile Diabetes about two years ago. He wears a patch that has a sensor and transmitter that continuously monitors his glucose levels. His phone receives the data, sends immediate alerts when the rate of change exceeds a trigger level, all data is sent to the cloud for storage and analysis. Also, his parents and care-givers have access to the data and alerts.

Aiden is part of a virtual support tele-medicine group. The facilitator is a trained professional and regular video calls on Aiden’s phone include education, coaching, treatment adjustment, and monitoring. The group is designed to help Aiden successfully manage his condition and avoid complications. The facilitator maintains helpful information online so that Aiden can access it in between calls.

As part of the long-term play, Medical researchers collect and combine the data from all Diabetes patients. They use Artificial Intelligence predictions to continually look for opportunities to improve treatment and consequently make unexpected gains helping patients to reduce their symptoms.

Consider a second example. Patients with Atrial Fibrillation wear a device on their chest and go about their daily activities. Leveraging machine leaning and artificial intelligence and huge amounts of data collected from all patients, the system has predictive capabilities and accurately detects the beginning and end of arrhythmias. The benefit is improved clinical data for researchers and doctors to determine an appropriate treatment approach.

High-quality and affordable healthcare has been in crisis for several decades. I believe this is a problem that can be solved over the next twenty years. The two examples above are in the field now. Applying Real-time IoT monitoring and cloud storage, Machine Language, Artificial Intelligence to treatment of Cancer, Mental Health, elderly care will force out inefficiencies in the system driving the overall cost of healthcare to manageable levels.

Stephen Wise

Integration Professionals

Dramatically Improve Traction

IoT business

What value are you creating with your IoT?

The increasing capability to digitize the physical world presents enormous dollar opportunities. IoT and its technology provides the ability to sense the world or take an action or both. For example, manufacturing applications include operations optimization, predictive maintenance, inventory optimization, and health and safety. McKinsey has suggested that the economic impact of IoT in factories will be valued at 1.2 to 7.7 trillion US dollars in 2025.


Most companies can explore the following over arching models: Transform business process; Enable new business models; or Combine with other advanced technologies like AI and blockchain. Developing a business model to reduce your costs or enhance the customer experience is the first transformation step.


Here are my top 5 tips for developing your IoT business strategy.

 

  1. Ensure the business case has clarity for how the company will capture value from the IoT solution internally or from customers.
  2. Executive sponsorship of the IoT portfolio of activities requires business led cross-functional support from all areas of the enterprise; IT enables IoT for the enterprise, not the other way around.
  3. Involve manufacturing and the frontline in up-front planning as monetizing IoT benefits depends on business process change and change to customer experience. For example, most implementations will require/suggest for things to be done differently as part of the future state – buy-in from those impacted is critical.
  4. Engage partners and internal resources to augment the new skill sets that will be required to maintain and use functionality. Networking and connectivity, Data science, and security will all be learning curves.
  5. Manage all your IoT initiatives as a portfolio to initiate/cancel, prioritize, and balance projects according to revenue, cost, resource availability, and risks.


The pervasive embedding of IoT hardware is a given. IoT is reshaping the way enterprises manage processes. Albeit, the usefulness and timing for when it is helpful that your fridge knows it will soon be out of milk is not clear. Nevertheless, the great value to be gleaned in Health, Transportation, Retail, Manufacturing, and so on is logical.
 

Monetizing the power of sensor-enabled data and knowing how to deploy is a disruptive change that should be on everyone’s business radar. 

Stephen Wise


www.IntegrationProfessionals.com


Dramatically Improve Traction

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