Predictive analytics can seriously change the medical industry shortly. Based on the use of big data, this technology will help, for example, prevent the occurrence of chronic diseases in patients and correctly allocate doctors’ resources. For the industry, the load can be reduced, and, in general, its work can be made more predictable.

Information processes are present in all areas of medicine and healthcare. The visibility of the industry, which functions as a whole, and the management effectiveness depend on order. The essential properties are objectivity, completeness, reliability, adequacy, accessibility, and relevance. The properties of information depend both on the properties of the data and the properties of the methods for extracting it. This is especially important for chronic care management solutions.

Modern technologies, including Big Data and machine learning, have opened new horizons for the predictive analytics and decision support systems market. With proper use, they will be the next step in the digital transformation of any industry, including healthcare.

VITech is pleased to reveal the results of the State of data science and ML in healthcare survey that we conducted on LinkedIn in 2019. The survey sought to look into the scope and patterns of data science and machine learning adoption in the healthcare industry. Over 50 qualified respondents represented a variety of company sizes, from startups to corporations with more than 10,000 employees, in the pharma, care sector, biotechnology, and medical device development. Among them: are C-level execs, directors, and VPs (50% of the pool), as well as ML engineers, data scientists, and software developers. The surveyed have a firm grasp of the industry’s challenges and objectives, enabling us to analyze and assess the trends and the actual state of tech in healthcare.

Smart healthcare is the future of the healthcare system. This revolution is already impacting the daily work of healthcare professionals and the practice of patient care. The changes taking place can provide solutions to many problems. Still, they also require us to rethink how we organize the health system, shifting the focus from treatment to primary prevention. The main feature of the predictive analytics market in the healthcare sector is that it is global and rapidly developing. In 2018 the market size was a modest $2.9 billion. However, it is expected to grow at an average of 28.9% per year, and, according to Meticulous Research, will reach $84.2 billion in 2027. Let’s see how is predictive analytics used in healthcare.

Healthcare companies — providers or payers — have historically relied on computers for administrative tasks. However, new use cases have emerged as technology matured and the industry digitized. Today, hardly any clinic operates without a fleet of computers to store and manage patient/facility data, monitor patients and equipment, perform operations, and research.

According to the analytical agency Frost&Sullivan, the market for digital medical solutions in 2021 amounted to $6 billion. At the same time, annual growth approached the 40% mark. This means that in the world’s developed countries, there is a significant growth in electronic medical records, the possibility of remote patient management, and the sale of medicines via the Internet.

Poor systems deliver poor results, and, in the case of US healthcare, the pile of problems has been growing for years. From lack of transparency to high costs and administrative inefficiency, the system has created an environment where patients and medical staff suffer. During the global pandemic of COVID-19, all of those pain points have only intensified and got worse.

Most of us never think about our breathing; it’s just something we do. For example, research by Lung Foundation Australia shows that almost half of all Australians rarely or never think about their lung health. Despite this, almost two-thirds of Australians reported that they had experienced at least one lung-related health issue. People often assume that there are symptoms of aging or lack of fitness. Any problem that prevents the lungs from working properly is called lung disease – this may be lung circulation, lung tissue, or a disease of the airways. There are over 30 arts of lung disease, beginning from influenza and asthma to occupational lung disease and lung cancer. And don’t forget about COVID-19 pandemic!

Can technology help us in the fight against the virus? There are already a lot of solutions developed to protect people from getting infected. For example, the “Stop Corona” app from the Austrian Red Cross society. It keeps an anonymous contact diary that logs personal encounters using a “digital handshake.” If somebody has symptoms of COVID-19, all those who “have digitally shaken hands” with that person will be automatically informed about one of their anonymous contacts showing signs of an infection. All these people are asked to isolate themselves to reduce the infection’s risk. This way, fewer people will be exposed to potential diseases. Additionally, this system supports and relieves doctors who would otherwise have to go through this process manually.