E-commerce platforms have made significant changes to the business world by allowing them to conduct transactions online. It has created a new era in the way we shop, interact with one another and created a rise of tech usage.
This has also made an impact in the healthcare industry since many individuals find it expensive to visit the doctor and think it’s better to have a virtual meeting. In other words, e-commerce has made it more accessible. A recent study showed that the global healthcare e-commerce market will grow to $732.3 billion by 2027, making it an ongoing trend.
This goes to show that technology is becoming a part of our daily lives and is transforming the way businesses operate on a daily basis. Well, don’t go anywhere because in this article, we will learn more about how healthcare tech and e-commerce platforms foster growth and innovation.
4 Ways healthcare technologies and e-commerce platforms are driving growth and innovation
Healthcare technology has come a long way from the previous years; let’s face it, it’s revolutionizing the industry and changing how we view it. Healthcare technology includes medical devices, IT systems, artificial intelligence (AI), cloud and blockchain that support the healthcare industry.
Let’s dive deeper into the healthcare technologies driving innovation in growth.
Telemedicine
Telemedicine is an emerging technology that allows virtual appointments between healthcare practitioners and patients. Many healthcare organizations are starting to use this practice even more. In fact, after the COVID-19 pandemic, studies show that telemedicine usage has increased by 766% because face-to-face meetings weren’t possible.
Healthcare organizations are starting to empower seeing their patients virtually instead of making them visit the office. There are different types of mobile apps that patients can use for using telemedicine. It’s best to consult with your healthcare provider first to know which one you should use. Maybe they have their own apps where they communicate with clients through.
Once upon a time, meeting a doctor virtually was impossible, but telemedicine has changed the story. Regardless of where you are, telemedicine is evolving the healthcare industry by making appointments possible from anywhere.
Online pharmacies using e-commerce platforms
Online pharmacies are becoming increasingly popular after the COVID-19 era. They use e-commerce platforms to make their online presence possible and expand it. In fact, many of these platforms are bringing in online medical experts that comply with special requirements.
The COVID-19 era forced many people to start purchasing health products online because of lockdown restrictions. Due to this, a healthcare e-commerce platform will focus on offering the following:
- Total customer convenience: Empower customers with personalized self-service and transparency while they remain compliant with the standards of the healthcare industry.
- Personalized web store: Invoices, sales agreements, online and offline order history, custom products and more personalization options available.
- Documentation portals: Grant customers direct access to pharma leaflets, product manuals and allow them to submit their documentation and certificates.
- Product grouping: Allows customers to find what they’re looking for easily.
The online pharmacy segment is expected to grow by 13% in 2027. Overall, each online pharmacy will use a different e-commerce platform based on what fits their preferences the most and the most commonly used platforms include:
- SanaCommerce
- BigCommerce
- Magneto
Let’s not also forget about the direct-to-consumer (D2C) model. E-commerce platforms are putting D2C more into practice since they are diving deeper into the customers preferences and improving customer retention.
Online pharmacies will create an e-commerce store for the following purposes:
- Showcase health services
- Showcase vaccination bookings
- List front-of-shop products for online orders
- Offer your customers options for doorstep deliveries
Let’s not forget that online pharmacies work 24/7 and give patients the option to order a product online when their local pharmacies are closed.
Artificial intelligence (AI) and machine learning (ML)
The healthcare industry is experiencing a widespread use of electronic medical records, developing monitoring technologies, and increasing consumer device adoption. As a result, here are the major changes AI and ML have made to the industry:
- Machine learning algorithms: Helps health practitioners collect much more reliable data since ML algorithms improve based on the more data they collect. If there’s something important in the healthcare industry, it’s data. The more data they have, the more accurately they can conduct diagnostic analysis and find out why something happened the way it did.
- AI aids in disease identifications: The healthcare industry is primarily using AI for identifying diseases and diagnosis. AI can evaluate DNA patterns in apps on mobile devices to determine chronic diseases, blood pressure levels, evaluating coughs, and more.
- Monitoring drug response: AI can monitor how information is gathered and spread about disease treatment. The pharma industry uses this tech for initially screening drug compounds and determining what might work better for an individual based on their biological genetics.
- Monitoring pandemics: A pandemic just passed by and the online world allowed healthcare professionals to closely pay attention to what is happening. AI technology can be great for alarming you of upcoming pandemics and staying cautious of the threats they possess. The more data given to an algorithm, the more learning there is, which benefits everyone. A good example was COVID-19, where people around the world had quick access to the latest news on daily infections and new protective measures that were implemented.
AI and ML algorithms are continuously improving and extracting more meaningful data from clinical trials, developing customized drugs based on each individual’s DNA and customizing their treatment options.
Every patient has a different compliance rate, so each needs to be treated based on what they tolerate. Manually gathering the data can be time-consuming, but AI and ML algorithms are automatically gathering the data and making it easier for healthcare practitioners to give better treatment options.
Electronic Health Records (EHRs)
In other words, an EHR is a digital version of a client’s paper chart. They are real-time records that instantly make information available to all authorized users. EHRs are the future of how healthcare practitioners collect data and can implement the following:
- Register the patient’s medical history
- Record treatment plans
- Record laboratory and test results
- Automate the workflow process
Registered information regarding a patient’s health status can be managed and created by authorized users in a digital format that can be shared across healthcare organizations. EHRS are excellent for sharing information with other health care organizations so they are all informed on the patient’s status and are on the same page.
The following benefits you get when the healthcare industry and e-commerce platforms are combined
Healthcare e-commerce platforms have made healthcare more accessible, cost-effective and personalized. These are just a few advances impacted by e-commerce in the healthcare industry, but let’s not forget that there are some other implications too and they are:
- Online shopping: eCommerce platforms are entirely changing how consumers shop for healthcare products and how they end up in their hands. Many consumers might see purchasing online as less time-consuming than going to a traditional pharmacy store.
- Improving the patient experience: Telemedicine and e-commerce platforms work together to improve the patient experience. Patients talk to their doctors about symptoms and have medications delivered to their homes in a short period of time. Healthcare providers using ecommerce services will make everything more accessible for patients as tech becomes more advanced.
- Online healthcare: Doctors can now advise patients via live chat, or text, removing the need for a physical appointment with the doctor. Even though telemedicine doesn’t eliminate the necessity for in-person tests, it assists patients in knowing whether they need an examination or not.
- Streamlines the purchase process: E-commerce offers hospitals, doctors and clinics to accelerate their supplies and equipment purchases. This allows health practitioners to provide better care since they can get their hands on the product much faster, offering patients better care and reducing time consumption for both sides. E-commerce is innovative in the healthcare landscape and creates new ways on how patients can get treated.
- Internet presence: Healthcare providers are continuously worried about the quality of their services and the online presence of customers as they take advantage of the internet to get medical supplies. Healthcare providers must increase their online presence where information and transactions are conducted online. Those with a higher reputation will get the most benefits since happy clients can comment on their positive experiences and recent health status.
Healthcare is a priority that every patient needs. Making it more accessible through e-commerce platforms is making an innovative step towards the industry itself.
E-commerce platforms and healthcare have driven innovation
Healthcare and e-commerce platforms have shown a good combination and are driving drastic innovations and growth levels in the business world. Health should be considered above all and the way e-commerce platforms are helping the healthcare industry prosper is amazing for both health care providers and patients.
Online pharmacies have allowed patients to access health products and services 24/7, so if there’s any emergencies, it’s a great way for health practitioners to quickly get their hands on necessary products. Moreover, telemedicine technology and electronic health records (EHRs) have brought innovative ideas for healthcare businesses. Not only has it made it easier for healthcare providers, but for patients to effectively register data online and hold virtual meetings. After all, the COVID-19 pandemic did teach us a lesson and it was that virtual meetings are possible too.
