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healthcare industry

Why Diversification is the Key to New-Age Healthcare Transformation

The healthcare sector is undergoing a constant wave of transformation. From shifts in care settings to heightened expectations for stronger cost management and better consumer experience, traditional healthcare players are experiencing increased pressure on its core business models. A willingness to make bold moves in response to the market transformations can help businesses improve their profitability in the long run. For payers and providers that want to succeed, it is essential to focus on activities beyond their core functions that open up new avenues of revenue and profits. Healthcare industry research by experts at Infiniti shows that healthcare organizations that have invested to diversify into multiple industry sectors are gaining stronger returns when compared to their competitors that have not yet diversified. According to our healthcare industry experts, here are some of the key reasons why diversification is vital for companies to cope up with transformations in the future of healthcare.

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Benefits of diversification in the healthcare industry

Accelerates growth

Generally, companies in the healthcare industry tend to rely on organic changes or incremental improvements to fuel organizational growth. However, due to the revolutions expected to take place in the future of healthcare, companies in the sector can accelerate their growth by diversifying into non-core areas of healthcare. Some players even choose to diversify in order to combat the headwinds in their core business and achieve breakthrough growth.

Attractive to investors

Investors regard healthcare industry growth as a means to gain higher-value revenue streams and therefore regard it positively. Companies can build new businesses through diversification. Furthermore, it becomes easier for payers to enter the care management space and manage population risks more efficiently. For instance, adding digital services can enable providers to better connect with patients and accommodate changes in care delivery. Our research shows that healthcare organizations that have diversified their operations were more successful in delivering excess total returns to shareholders.

Payers and providers can achieve the full potential of care management including a positive ROI if they substantially improve their ability to identify, reach out to, and engage patients. Get in touch with our experts to know how we can help you achieve this.

Protects the core functions

A common misconception among payers and providers is that diversifying will distract the organization from its core functions. However, if managed properly this can be avoided and in turn diversification can help protect core businesses. For example, expanding ambulatory services can create new streams of revenue for a company in the healthcare industry as it accelerates the patient inflow into the company’s acute care services.

Final thoughts

Considering the rising pressure on traditional businesses, healthcare executives should strongly take into account the advantages of strategic diversification in areas where their core can give them an inherent advantage. To succeed, it is imperative to spend real-time and invest resources to develop a strategy and approach that will harness the full potential for this move.

Learn more about Infiniti’s solutions for companies in the healthcare industry

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healthcare consumerism

Healthcare Consumerism: The New Imperative for Providers

With the advent of healthcare consumerism – a movement to make the delivery of healthcare services more efficient and cost-effective, the U.S. is about to embark upon a new era where consumers are more knowledgeable of the medical services and play an active role in purchasing and consuming the services that they receive.

What is healthcare consumerism?

The concept of consumerism in healthcare is recent, with references to patients as “consumers” dating back to the early 20th century. Healthcare consumerism transforms an employer’s health benefit plan by giving plan participants the primary decision-making power. The ultimate goal of healthcare consumerism is to enable patients to actively be a part of their healthcare decisions.

However, many plans fail to understand or ask consumers about how they consume healthcare services. As a result, patients tend to pay little attention to cost since they only have a limited role in the healthcare decision. Furthermore, usually patients prefer to stay away from managing their own health information; instead, they are eager to be cared for by an efficient healthcare system that respects their preferences. In order to develop more meticulous healthcare users, healthcare providers must provide information, financial incentives, and decision-making tools to allow consumers to make educated healthcare purchasing decisions.

Winning empowered consumers is critical at a time when patients are demanding more in response to rising costs. Not sure how to achieve this? Request a free proposal to know how our tailor-made solutions can help you.

Objectives of healthcare consumerism

According to healthcare industry experts at Infiniti Research, healthcare consumerism is designed to:

  • Promote closer communications and cooperation between healthcare professionals and patients
  • Encourage patient buy-in and compliance with treatment recommendations
  • Increase knowledge and awareness of lifestyle and wellness practices among patients
  • Focus increasingly on preventative medicine by encouraging healthy activities and habits

Healthcare consumerism: boon or bane?

The era of consumerism in healthcare has arrived. Direct-to-consumer advertising of pharmaceuticals, health newsletters from leading hospitals and medical schools, and, most importantly, the near-ubiquity of the Internet have made it easy for consumers to obtain information about their medical conditions and possible treatments. This presents healthcare providers and patients with both challenges and opportunities.

Some studies suggest that healthcare consumerism can negatively affect the quality of patient-doctor communications. A clash of opinion could arise when the patient’s preconceptions do not match with the doctor’s assessment. Perhaps less information gets effectively exchanged. Even when more information is in fact exchanged, the patient may discount what he or she hears from the doctor. Furthermore, consumerism may raise the possibility of disagreement between patients and clinicians, increase mutual frustration, and result in inefficient use of patient-clinician visit time.

But this is only a part of the story. studies have demonstrated that healthcare consumerism is important to patients, although results vary based on patient demographics and on the complexity of the healthcare decision. Most patients have a much greater personal investment in their own well-being and treatments than the providers in the healthcare industry do and are willing to devote more time to understanding and determining diagnosis and treatment.

The U.S. healthcare industry is en route major transformations and providers must identify ways to revamp their offerings and fill their services gaps in order to survive the dynamic changes. Wondering where to begin? Request a free brochure to know more about our solutions for the healthcare industry.

What's in it for you?

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Download this free resource from Infiniti Research to gain comprehensive insights on:

  • The opportunities of healthcare consumerism for providers
  • The key challenges of healthcare consumerism
  • Why addressing healthcare consumerism should be the top priority for healthcare professionals in 2019
  • The future of healthcare consumerism

Learn more about our solutions for the healthcare industry

Insights into The Impact of Technology in Healthcare

Modern technology has been infiltrating into our lives, gradually transforming into an indispensable element of human existence over the past couple of years. Technological innovations have revamped almost all major industries, healthcare being among the most notable ones. The impact of technology in healthcare is quite evident from the fact that the global mortality rates have dipped by 3.7% per year for children and 1.3 % per year for adults over the past decade. Agile healthcare companies are increasingly shifting to modern technology as they are becoming more convinced about the benefits of technology in healthcare. Furthermore, with new technology in healthcare such as telemedicine and wearables, patients can gain easier access to their health stats such as stress level, heart rate, and blood pressure without having to actually visit hospitals. Experts in the healthcare industry predict that through the next decade, a greater number of healthcare companies are going to invest in virtual care, wearable health gadgets, remote health monitoring tools, and consumer-facing mobile apps. Ask An Analyst_IR

Impact of technology in healthcare 

Easier access to healthcare professionals

One of the key benefits of using technology in healthcare is that doctors can now easily reach out to patients virtually. Doctors can also analyze detailed patient history, research conditions, and even consult experts from around the world even in the absence of any sophisticated medical facilities. This technique is also known as telemedicine and will undoubtedly turn out to become one of the most effective tools used by doctors for treatment.

Introduction of self-service kiosks

One of the notable impact of technology on healthcare is that it plays a vital role in simplifying processes in the healthcare industry. The introduction of self-service kiosks has helped expedite and simplify processes such as hospital registration that would otherwise prove to be a time-consuming process. This would also help healthcare companies in reducing their staffing costs and employ this workforce into other key management processes.Request Proposal

Predicting medical trends

Analyzing health information that users search on search engines such as Google have made it possible to accurately predict medical trends such as flu outbreaks. Although not everyone who runs search queries for the particular flu or a disease might not be a victim; however, a pattern emerges when all the flu-related search queries are added together. This breakthrough would facilitate medical experts to respond to outbreaks promptly and also take preventative measures in advance.

Improved patient care

Introduction of technology in healthcare has made patient care safer and more reliable than ever before. Patient data and medical history are stored in electronic databases that record accurate data and can be accessed easily in future. This data can also be used in the future for medical research. With greater access to patient medical conditions, researchers can gain in-depth insights into the primary cause of diseases and formulate appropriate treatments that can prevent further outbreaks or even eradicate the condition completely.


Know how Infiniti’s healthcare intelligence solutions can help companies design healthcare services, identify patient needs, and stay updated with the latest trends in the healthcare scenario.

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product research

Is Self Service Kiosk the Next Big Thing in Healthcare Technology?

“Self service” is becoming increasingly popular in the healthcare industry. Well, that does not mean that patients are picking up medical equipment and operating on themselves. It basically means that the patients can easily check into hospitals without the help of medical administrators. Self service kiosk is an advanced healthcare technology that makes administrative tasks like hospital registration and billing more streamlined and faster. What are some of the other prominent benefits that the healthcare industry players can reap with the help of a self service kiosk? Let’s find out:IR_Brochure

Easy on the Pocket

Implementing new healthcare technologies such as a self service kiosk can reduce the cost for hospitals. Electronic kiosks are a one-time investment that help hospitals cut down on the staff employed in administrative facilities. Also, self-check-ins help them to save paper, thus, avoiding any sort of paperwork to maintain patient records and helping the hospital staff to spend more time on patient care rather than the administrative duties.

Minimum Patient Waiting Time

Through self service kiosk, paper forms have been completely replaced by digital storage. Traditionally, the administrative staff manually filled out patient data and assigned them to the concerned department. However, with the help of this advanced healthcare technology, patients can save time by registering themselves on the kiosks, and the data verification is done by swiping the identity card, making the process much simpler and faster.

Lesser Scope for Errors

A self service kiosk helps to reduce the data entry errors that usually happens from the administrative staff. Since the patients themselves fill out the data, it is highly likely for them to give accurate data. Also since this system makes the recording of data electronic, any duplication of data can be easily retrieved from records and alerted to the hospital authorities.

Easier Payment Method

Payment becomes a much easier task for patients with the help of a self service kiosk. Patients can now make payments easily by swiping their card or entering their card details into the kiosk. The device also automatically informs the patient of any outstanding medical balance, print out payments and medical certificates, and also notifies the hospital in case the patient has already made payments for the treatment received.

Reduces Confusion

A self service kiosk makes things much easier for patients. In case of any confusion in appointments, accessing the hospital map, payment details, etc. the patients do not have to depend on or wait for help from a hospital staff as they can access all the information directly through the kiosk.

To Know More About the Trends in Healthcare TechnologyAsk an analyst

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Cosmetic packaging

Is 3D Printing Technology the Future of Modern Healthcare?

We live in a world of customization, and unlike before, it is not limited to the ones who can afford the luxury.  Since customization is done to establish a sense of uniqueness, industries like the medical devices and healthcare sector have started focusing more on customization to enhance their patient engagement. This need to differentiate products and services from the competitors has given birth to the breakthrough invention in healthcare The 3d Printing Technology.IR_Brochure

What does 3D printing technology do for healthcare?

3D printing technology is a relatively new but rapidly expanding manufacturing concept that is known to have numerous applications in healthcare. 3D printers were developed as a modification of the age-old inkjet printer. 3D printing is used for the production of three dimensional solid objects from a digital file. Some of the key applications of this technology in healthcare are:

  • Customized implants and prosthetics
  • Developing medical models
  • Customization of 3D drugs as per the patient’s requirements

The first step in 3D printing technology is creating a blueprint of a given object. In the case of healthcare, doctors identify the patient requirements and create a blueprint as per the requirement.

How Does 3D Printing Technology Save Lives?

3D printing technology has truly proved to be a boon in the medical industry. Let us discuss some of the key applications of this technology in healthcare:

Personalized Plaster Casts

A broken bone is no more a big deal with 3D printing technology. A 3D printer comprises of a scanner that is capable of modeling the patient’s limbs precisely. The printer then generates a customized 3D printed splint and the cast, which only takes a few minutes to process.

Low Cost Prosthesis

The prosthesis has proved to be a blessing for people in need of them. However, their unaesthetic and expensive features have proved to be a major drawback. This can be overcome with the help of 3D printing technology which makes prosthetics highly affordable. Also, with the help of 3D printing, a little bit of magic can be added to prosthetics by making them look more appealing, especially in the case of children.

Made to Measure Implants

Implants are mainly used to replace a functional part inside the body. It is important to note that in each person, the dimensions of organs maybe different and also the implants require significant time to be accepted by the human body. This requires extensive research and therefore make implants a costly affair. However, with 3D printing technology, implants can be designed more accurately and at a much lower cost.

To know more about 3D printing technology and its applications in the healthcare industry

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market segmentation

Applications of IoT in the Healthcare Industry

Internet of Things (IoT) in healthcare aims at improving the health of millions of people across the globe. The concept of Internet of Things is relatively old but has recently garnered more attention, especially in the healthcare industry. What is the internet of things, you ask? It is the use of mobile or electronic devices connected to the cloud that captures and monitors data, thereby allowing them to trigger certain events. Ask an analystThere are various applications of IoT in the healthcare industry right from remote patient monitoring and health information technology (HIT), which help diagnose, track, and prevent chronic diseases. IoT in healthcare services enables personalized patient monitoring, facilitates calorie count, offers regular checkup reminders, and tracking health information. Smart IoT enabled devices eliminate the need for a direct physician-patient access and interaction by leveraging data insights.

Applications of IoT in Healthcare

IoT in healthcare has revolutionized the medical services industry through apps and devices that have redefined the way physicians and patients interact and communicate with each other. The introduction of technology in healthcare has improved patient journey, enabled remote monitoring, and real-time location services. IoT in healthcare offers tools and systems that help improve the efficiency of service providers, improve the quality of services, resulting in a significant reduction in health care costs. IoT in healthcare

  • Through remote monitoring, health care service providers can offer timely and prompt attention to patients. These IoT-enabled wearable devices fitted with sensors can be leveraged to immediately notify family members and doctors of any interruption in the individual’s routine activity

 

  • Physicians and service providers can leverage real-time location services by tracking medical devices and apparatus used to treat patients. Medical tools and surgical devices can be tagged with IoT enabled sensors to help the medical staff locate it

 

  • IoT in healthcare helps improve patient journey by streamlining processes and minimizing costs. The health care service providers provide better patient experiences with an updated infrastructure and accessing patient information stored in the cloud; thereby, providing immediate assistance, communicating through email services, and providing quality medical care to patients

 

IoT in healthcare enables the physicians, providers, promoters, and hospitals to optimize their resources to achieve operational efficiency. Although there are a few loopholes and concerns regarding security and privacy of patient information, applications IoT in healthcare has gained momentum across the globe.

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