MINI PROJECT REPORT II

ON

IMPACT OF TECHNOLOGY ON MEDICAL SECTOR

Under the Guidance of

DR. NIVI SRIVASTAVA

Assistant Professor

ICCMRT

Submitted in Partial fulfillment for the award of Degree of Master of Business

Administration from Dr. A PJ Abdul Kalam Technical University, Lucknow

Submitted by

ATISHAY KUMAR

SINGH

MBA 2 Semester, ICCMRT

Roll Number-2101240700026

INSTITUTEOF CO-OPERATIVE & CORPORATE MANAGEMENT, RESEARCH AND

TRAINING

21/467, RING ROAD, INDIRA NAGAR, LUCKNOW-226016 2022

 Phone: 2716431, 2716092
Fax: (0522) 2716092
E-mail: info@iccmrt.ac.in
Website: www.iccmrt.ac.in

Institute of Co-operative & Corporate

Management, Research and Training
467, Sector-21, Ring Road, Indira Nagar, Lucknow-226 016

CERTIFICATE
This is to certify that (ATISHAY KUMAR SINGH), a student of Master of Business
Administration (MBA ) Program (Batch 2021-23) at this Institute has conducted mini
project titled IMPACT OF TECHNOLOGY ON MEDICAL SECTOR during
2 semester .

The student has also made a presentation before a panel of experts at the Institute.

(Dr. Nivi Srivastava)

Assistant Professor

Certified

(Dr. K. Anbumani)

Principal, ICCMRT
 DECLARATION

I hereby declare that the project work entitled IMPACT OF TECHNOLOGY

ON MEDICAL SECTOR submitted to the ICCMRT is a record of an original
work done by me under the guidance of DR. NIVI SRIVASTAVA and this
project work has not performed the basis for the award of any degree or
diploma and similar project if any.

ATISHAY KUMAR

SINGH

MBA 2-SEMESTER

ROLL NO.2101240700085

ICCMRT-LUCKNOW
 ACKNOWLEDGEMENT

I would like to thank all of them who helped me directly or indirectly in preparation of this
report. It is a great privilege to record my deepest sense of gratitude to all the people who
stood by me throughout the survey report.

I would like to express my special thanks and gratitude to my director Mr. RAJESH
KUMAR KULSHRESTHA , Principal Dr .K ANBUMANI and teacher DR. NIVI
SRIVASTAVA and who gave me the golden opportunity to do this wonderful
project ,which also helped me in doing a lot of Research and I came to know about so many
new things.

Secondly I would also like to thank my parents and friends who helped me a lot in finalizing
this project within the limited time frame.

Finally our gratitude goes to my faculties, friends and family member for their perseverance
and cooperation with all their blessings. Without their support my report would not have
taken its present shape. Hope you will appreciate my efforts.

ATISHAY KUMAR SINGH

MBA 2-SEMESTER

ICCMRT,LUCKNOW
 PREFACE

The Research Provide an opportunity to Demonstrate the application of knowledge, Skills

and Competence required during the technical session, to evaluate the performance and to
provide feasible recommendation on the provide data. The Analysis is on the field of
Marketing.

Although I have tried my level best to prepare this report on error free report every effort has
been made to offer authentic position with accuracy.
 TABLE OF CONTENT

S.N TOPIC PAGE

O. NO.
1 Certificate I

2 Declaration II

3 Acknowledgement III

4 Preface IV

5 Introduction of 1-8
industry
6 Introduction of topic 9

7 Objectives of study 10-11

8 Impact 12-16

9 Advantages 17

10 Challenges 18-29

11 Limitation 30-31

12 Conclusion 32

13 Bibliography 33
 HOW HAS TECHNOLOGY CHANGED THE MEDICAL FIELD
?

INTRODUCTION OF INDUSTRY - The health care industry, or medical

industry, is a sector that provides goods and services to treat patients with curative,
preventive, rehabilitative, or palliative care. The modern health care sector is
divided into many sub-sectors and depends on interdisciplinary teams of trained
professionals and paraprofessionals to meet the health needs of individuals and
populations.

What is Health Care?

Health care (or healthcare) is the diagnosis, treatment, and prevention of disease,
illness, injury, and other physical and mental impairments in humans. Health care is
delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy,
allied health, and other care providers. It refers to the work done in providing
primary care, secondary care, and tertiary care, as well as in public health.

What is the Healthcare Industry?

The health care industry, or medical industry, is a sector that provides goods and
services to treat patients with curative, preventive, rehabilitative, or palliative care.
The healthcare industry is composed of establishments devoted to prevention,
diagnosis, treatment, and rehabilitation of medical conditions. Such treatment may

1
be through providing products or services and may be provided privately or
publicly. The modern health care sector is divided into many sub-sectors and
depends on interdisciplinary teams of trained professionals and paraprofessionals to
meet the health needs of individuals and populations. The health care industry
includes establishments ranging from small-town private practices of physicians
who employ only one medical assistant to busy inner-city hospitals that provide
thousands of diverse jobs. The Healthcare industry is littered with risks and
challenges as it is an industry that requires constant innovation under increased
regulations.

The health care industry is one of the largest industries in the world, and it has a
direct effect on the quality of life of people in each country. Health care (or
healthcare) is the diagnosis, treatment, and prevention of disease, illness, injury, and
other physical and mental impairments in humans. Health care is delivered by
practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health,
and other care providers. The health care industry, or medical industry, is a sector
that provides goods and services to treat patients with curative, preventive,
rehabilitative, or palliative care.

What is medicine?

Medicine is the field of health and healing. It includes nurses, doctors, and various
specialists. It covers diagnosis, treatment, and prevention of disease, medical
research, and many other aspects of health.

Medicine aims to promote and maintain health and wellbeing.

2
Conventional modern medicine is sometimes called allopathic medicine. It involves
the use of drugs or surgery, often supported by counseling and lifestyle measures.

A clinician is a health worker who works directly with patients in a hospital or other
healthcare setting. Nurses, doctors, psychotherapists, and other specialists are all
clinicians.

Not all medical specialists are clinicians. Researchers and laboratory workers are
not clinicians because they do not work with patients.

The physician assesses the individual, with the aim of diagnosing, treating, and
preventing disease using knowledge learned from training, research, and
experiences, and clinical judgment.

NEW MEDICAL TECHNOLOGIES

1- Smart inhalers

Inhalers are the main treatment option for asthma and if taken correctly, will be
effective for 90% of patients. However, in reality, research shows that only about
50% of patients have their condition under control and as many as 94% don’t use
inhalers properly. To help asthma sufferers to better manage their condition,
Bluetooth-enabled smart inhalers have been developed. A small device is attached
to the inhaler which records the date and time of each dose and whether it was
correctly administered. This data is then sent to the patients’ smartphones so they

3
can keep track of and control their condition. Clinical trials showed that using the
smart inhaler device used less reliever medicine and had more reliever-free days.

2-. Robotic surgery

Robotic surgery is used in minimally invasive procedures and helps to aid in

precision, control and flexibility. During robotic surgery, surgeons can perform very
complex procedures that are otherwise either highly difficult or impossible. As the
technology improves, it can be combined with augmented reality to allow surgeons
to view important additional information about the patient in real time while still
operating. While the invention raises concerns that it will eventually replace human
surgeons, it is likely to be used only to assist and enhance surgeons’ work in the
future. Read more about robotic surgery here.

3. Wireless brain sensors

Thanks to plastics, medical advances have allowed scientists and doctors to team up
and create bioresorbable electronics that can be placed in the brain and dissolve
when they are no longer needed, according to Plasticstoday.com. This medical
device will aid doctors in measuring the temperature and pressure within the brain.
Since the sensors are able to dissolve, they reduce the need for additional surgeries.

3-D printing

4
If you haven’t heard, 3-D printers have quickly become one of the hottest
technologies on the market. These printers can be used to create implants and even
joints to be used during surgery. 3-D-printed prosthetics are increasingly popular as
they are entirely bespoke, the digital functionalities enabling them to match an
individual’s measurements down to the millimetre. The allows for unprecedently
levels of comfort and mobility. The use of printers can create both long lasting and
soluble items. For example, 3-D printing can be used to ‘print’ pills that contain
multiple drugs, which will help patients with the organisation, timing and
monitoring of multiple medications. This is a true example of technology and
medicine working together.

5-. Artificial organs

To take 3D printing up another notch, bio-printing is also an emerging medical

technology. While it was initially ground-breaking to be able to regenerate skin
cells for skin draughts for burn victims, this has slowly given way to even more
exciting possibilities. Scientist have been able to create blood vessels, synthetic
ovaries and even a pancreas. These artificial organs then grow within the patient’s
body to replace original faulty one. The ability to supply artificial organs that are
not rejected by the body’s immune system could be revolutionary, saving millions
of patients that depend on life-saving transplants every year.

6. Health wearables

The demand for wearable devices has grown since their introduction in the past few
years, since the release of bluetooth in 2000. People today use their phone to track
everything from their steps, physical fitness and heartbeat, to their sleeping

5
patterns. The advacement of these wearable technologies is in conjunction with
rising chronic diseases like diabetes and cardiovascular disease, and aim to combat
these by helping patients to monitor and improve their fitness.

In late 2018, Apple made headlines with their ground breaking Apple Series 4
Watch that has an integrated ECG to monitor the wearer's heart rhythms. Within
days of its release, customers were raving about the life saving technology, which is
able to detect potentially dangerous heart conditions much earlier than usual. The
wearable devices market is forecast to reach $67 billion by 2024.

7. Precision medicine

As medical technology advances it is becoming more and more personalised to

individual patients. Precision medicine, for example, allows physicians to select
medicines and therapies to treat diseases, such as cancer, based on an individual’s
genetic make-up. This personalised medicine is far more effective than other types
of treatment as it attacks tumours based on the patient’s specific genes and proteins,
causing gene mutations and making it more easily destroyed by the cancer meds.

Precision medicine can also be used to treat rheumatoid arthritis. It uses a similar
mechanism of attacking the disease’s vulnerable genes to weaken it and reduce
symptoms and joint damage.

6
8. Virtual reality

Virtual reality has been around for some time. However, recently, with medical and
technological advances, medical students have been able to get close to real life
experience using technology. Sophisticated tools help them gain the experience they
need by rehearsing procedures and providing a visual understanding of how the
human anatomy is connected. The VR devices will also serve as a great aid for
patients, helping with diagnosis, treatment plans and to help prepare them for
procedures they are facing. It has also proved very useful in patient rehabilitation
and recovery.

9. Telehealth

In a technologically driven world, it’s thought that as many as 60% of customers

prefer digitally-led services. Telehealth describes a quickly developing technology
that allows patients to receive medical care through their digital devices, instead of
waiting for face-to-face appointments with their doctor. For example, highly-
personalised mobile apps are being developed which allow patients to speak
virtually with physicians and other medical professionals to receive instant
diagnosis and medical advice.

With oversubscribed services, telehealth gives patients different access points to

healthcare when and where they need it. It is particularly useful for patients
managing chronic conditions as it provides them with consistent, convenient and

7
cost-effective care. The global telemedicine market is expected to be worth $113.1
billion by 2025.

10- . CRISPR

Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR) is the most

advanced gene-editing technology yet. It works by harnessing the natural
mechanisms of the immune systems of bacterium cells of invading viruses, which is
then able to ‘cut out’ infected DNA strands. This cutting of DNA is what has the
power to potentially transform the way we treat disease. By modifying genes, some
of the biggest threats to our health, like cancer and HIV, could potentially be
overcome in a matter of years.

However, as with all powerful tools there are several controversies surrounding its
widespread use, mostly over humanity’s right to ‘play God’ and worries over gene-
editing being used to produce hordes of designer babies. CRISPR is still a first-
generation tool and its full capabilities are not yet understood.

As the years pass, technology in pharmaceuticals and medicine will continue to

improve. People are living longer and fewer diseases are deemed incurable. Jobs in
the pharmaceutical industry are in higher demand now than ever. Who knows what
the next year will bring in medical advancements!If you’d like to be part of this
exciting industry, Proclinical Staffing are recruiting for a variety of roles from top
pharma, biotech and medical device companies. We would love to hear from you so
have a look at our current job opportunities or upload your CV to get started!

8
INTRODUCTION OF TOPIC - As technology plays a very important role
in every field of the world. The new technological devices are invented in every
field for helping people and make work easier for them. Also, technology plays a
very important role in the medical field and Healthcare. There are a lot of
technological devices and equipment invented for the health care of peoples.The
medical devices include an insulin pump, digital thermometer, blood glucose meter,
pulse oximeters, wireless brain sensors, smart inhaler, etc. These devices are made
for improving the health care of patients. Medical technology includes all the
technological devices or equipment that are used to save human life. In the medical
industry, there are more than 500,000 technological devices and equipment
available used in hospitals and other healthcare departments. Before the invention
of medical technology, doctors only can predict the disease. That is the disease or
problem the patients suffering from. Actually, that’s very difficult for doctors to
find out the exact problems or diseases peoples suffering from. But after the
developments and inventions of medical technologies that become very easy for
them to find out the problem or disease and give proper treatment to the patients for
that.So, technology plays a very important role in the field of medicine or
healthcare. The technology has a lot of benefits in the medical industry but also has
disadvantages.

9
OBJECTIVE

● To promote awareness of health care among all sections of the Indian people.
● To promote awareness among functionaries involved in Health and Hospital
Management.
● To promote research in the field of Health and Hospital Management. in order
to improve the efficiency of Health Care delivery Systems.
● To promote the development of high quality hospital services and community
health care.
● To promote a forum for the exchange of ideas and information among health
and hospital planners, academicians, administrators, various statutory bodies
and the general public for the improvement of Hospital and Health Care
delivery Systems.
● To develop norms and standards for accreditation of the Health Care
Organization and adopt means of evaluation of such institutions, so as to
improve the quality of health care in the community.
● To provide opportunities for training and research in all aspects of Hospital
Services Health Care Delivery System and Health Care Administration.
● To update the knowledge and skill of the Health & Hospital Administrators
and other personnel involved in the management of health care organization
through continuous education and research.
● To promote and grant recognition to research in the fields of Health and
Hospital Management and to grant awards, scholarship and assistance in other
suitable forms to meritorious individuals and institutions.
● To act as Advisory /Consultative Body, in the best interest of community and
country, to Central and State Governments, Public Sector Undertakings,

10
 Health Care Delivery Organization, Public Health & Health System
Development, Teaching and Training Organization and any other Health
related allied organization, when need so arises or services are asked for.
● To provide Health Care Advocacy for the benefit of health system
management and to endeavor to become a national advisory body for union
and state governments.
● To publish text books and periodic monographs on current and futuristic trends
in health and hospital management.
● To help in preparation of SOPs, Manuals, Literature and Books on Health Care
Management, Quality & Accreditation, Health Care Technology, Health Care
Industry related subjects, Text Books for Health Management Courses for
benefit of the Students & Faculty, Hospital and Health Care Organizations and
Academic Institutions.
● To undertake Professional Consultancy in the field of Health System
Management, Quality & Accreditation, Health Technology Assessment,
Medical Tourism, Disaster Management, Health Care Delivery Organization,
Public Health Facilities & Services for overall improvement of the facilities.
● To conduct inter hospital/ Institution awards competition on various
parameters to bring competitiveness for improving healthcare quality &
training.
● To recognize and felicitate the individuals who have made exceptional and
significant contributions in the field of Health and Hospital Management in
general and to the Academy in partic

11
The Impact of
Digital
Technology on
Healthcare

12
Digital technology has become an integral part of healthcare and is all set to
revolutionise the practice of medicine. Digital technology has greatly improved
operational efficiency with respect to standards of medical care. The transformation
has significantly enhanced the overall experience of both healthcare professionals
and patients.

Some of the areas where digital technology has made an enormous impact in
healthcare include:

1. Improved Access to Medical

Information and Data: One of the biggest benefits of the digital
revolution has been the ability to store and access data. Healthcare

13
professionals can now retrieve patient data from anywhere. Also, the intranet and
internet have allowed healthcare professionals to share medical information rapidly
with each other, resulting in more efficient patient care.

2. Big Data: Another great benefit of digital technology is that it allows clinicians
to gather big data in minimal time. For those conducting epidemiological studies,
research, or clinical trials, digital technology allows for the instant collection of data
from a much more diverse and larger population than ever before. Such data
collection allows for meta-analysis and permits healthcare professionals to stay on
top of cutting edge techniques and trends. Also, access to big data allows clinicians
to identify risk factors and recommend appropriate preventive/intervention steps
more effectively.

3. Improved Lines of Communication: There was a time not too long ago when
healthcare workers used a beeper to communicate. But today, digital technology has
made communication between healthcare providers and patients very easy.
Healthcare workers can stay in touch through email, smartphones, text messaging
etc. No longer do physicians have to mail out letters to patients reminding them of
their appointments and tests. Technology has made all this much simpler and much
more cost-effective. Also, medical professionals can make their own webinars,
videos and use online platforms and social media to communicate with other
professionals. Teleconferencing has made it easy to communicate beyond
geographic borders.

14
4. Electronic Health Records: The introduction of digital technology has been a
blessing when it comes to patient medical records. In the old days, large paper files
were moved from department to department. It often happened that during
transport, patient medical charts went missing or were damaged. It sometimes took
a long time to find medical records in emergency departments if patients came at
night or during the weekend. Referring patients was also a tedious process and
physicians had to send a large box containing the patient chart. Medical records
were all over the place; some records remained with the dentist, some with the
psychiatrist, some with the internist and some with the rehabilitation specialist. In
simple words, it was total chaos. All this has changed with electronic health records
(EHR) which have made life easier for both healthcare providers and patients.
Access to EHRs has resulted in a centralised storage of all patient data and faster
access for improved care and better outcomes. EHRs also enable faster, smoother
and easier medical billing.

5. Telemedicine/Telehealth: There are still many places around the world that are
rural and have a shortage of healthcare providers. One important benefit of digital
technology is video conferencing. Not only is telehealth cost-effective, but it can
also help determine who needs emergency assistance. Today, psychiatrists often
deliver counseling via telehealth for patients who are not able to physically come to
their clinic. Telecommunication is also being used to provide education and training
to healthcare workers residing in remote areas.

6. Online education: Another important benefit of digital technology is the

availability of online education, specifically in regards to healthcare related

15
degrees. Today, students interested in pursuing a career in healthcare can complete
their healthcare degrees completely online. This enables them to study where they
want, from whichever school they want and in their own time. The availability of
online education for healthcare professionals has eliminated the need to travel long
distances and take time off work.

7. Health Apps: The digital revolution has also resulted in the development of
hundreds of health apps. These apps enable patients to monitor their health and
disease, provide them medical information, allow them access to test results and
prompt them when it is time to get their check-up. Also, healthcare apps enable
healthcare workers to quickly check on test results, drug dosing recommendations
and other information they need urgently.

16
 ADVANTAGES OF TECHNOLOGY

1. Communication Systems in Healthcare Hospital

There is a lot of devices made for the patients contacting the doctors or nurse. These
kinds of digital devices are made for patients who are placed in the patient’s rooms
or wards in hospitals.In case of emergency, the patients can click the button of these
devices. It informs the doctors or nurses on time to come for the patient.

This is one of the main advantages of technology for patients and doctors. With this
kind of device, without wasting time the doctor can reach the patients and save their
lives.

2. Technology Improving Healthcare in Hospitals

There is a lot of technological devices and equipment which improved the

healthcare or treatment of the patients.The portable defibrillator, drug management
technology, MR system, electronic IV monitors are the new technological devices
that improved the healthcare of the patients.

3. Electronic Health Records of Patients in Hospitals

The patient’s health records are now stored in computers. Mostly In the hospitals or
also with the specialists the complete health records of patients are stored on a
computer.The patient’s health records are stored in the database or on the cloud
servers.keeping records in the computerized system is faster than the paper works.
It takes less time instead of paper records.

17
CHALLENGES FACED BY TECHNOLOGY IN
MEDICAL SECTOR

1. Harnessing Advanced Health Technology

In the current tech landscape, dynamics of both hardware and software is changing.
For instance, according to the UK Center for Health Solution report, 48 percent of
medical devices are connected through IoT, which is expected to rise up to 68
percent in the next five years. Research firm Markets and Markets also reveals that
the connected medical device market is expected to witness a three- fold rise from
2017 to 2022.

Even the software applications used in hospitals, such as Appointment Management

System, Patient Administration System, and Laboratory Information Management
System are now getting powered by advance techs like AI and machine learning.

To harness the potential of healthcare technology to transform the health systems

and develop a connected healthcare environment, healthcare leaders and clinicians need
to forge closer ties with medical manufacturers and software application
development companies. They can share information and develop new business
models and scenarios that can improve the adoption of new technology in
healthcare.

2. Information and Integrated Health Services

18
Use of connected medical devices and AI-integrated software application can
provide a massive amount of data to the healthcare companies which they can use to
generate information.

This data can be of different types such as administrative data, patient medical
records, connected device data, transcript & clinical notes, and patient surveys.

However, most care providers, even top healthcare companies, lack advanced
architecture and data management systems to manage data collected from multiple
sources.

The problem is use of relational databases that cannot efficiently manage

unstructured data collected from multiple sources, means the value of the
information they are getting is not absolute.

A transition from relational to the non-relational database could help healthcare

service providers handle large and unstructured data. As the company grows and the
flow of data increases, the database’s architecture can be scaled to make room for
the new data.

Healthcare companies need to plan all models for all the management layers—
operational, tactical, and strategic, and partner with reliable integrator having
mature service management process to support integrated health systems.

3. Cybersecurity

Connected medical devices and a greater need to keep the records of patient
information attract the attention of malicious hackers to healthcare providers. As
you can see, healthcare data breach statistics clearly reveal an upward trend in data
breaches from 2009—2018.

19
Those breaches have resulted in theft/exposure of 189,945,874 healthcare records.
That equates to more than 59% of the population of the United States. If we analyze
the health records exposed each year, we will see a massive increase in 2015, but
the situation has improved since 2015 with successive falls in the number of
exposed records. These attacks call for a robust system for cybersecurity in
healthcare, which could prevent data theft and loss of information and customers’
conviction.

Even in 2014, almost all large health networks fell victim to cyber breaches with
20-percent of those attacks costing over one million dollars in recovery expenses.

20
Influenced by the impact of technology in healthcare, Healthcare companies are
moving ahead with their digitization plans. Although they need to be very careful
and take proper measures to maintain healthcare cybersecurity, such as:

 Limit connected medical equipment access to trusted users

 Structure proprietary networks and spend on segregating external and internal

medical devices on enterprise networks

 Follow application development security protocols

 Build a centralized system to manage information

And if they are outsourcing their IT processes to health technology companies,

which include sensitive information such as patients’ personal information or

21
transactional details, they should only rely on a HITRUST-certified third-party
provider.

4. Rising Healthcare Costs

The cost crisis in healthcare is not new. There are many stakeholders who play a
key role in determining the cost of healthcare services, ranging from device
manufacturers to medical drug manufacturing companies and payers to insurance
policy providers. Conflict is natural when so many stakeholders are involved. And
developing a consensus requires strategic planning and time.The rising cost of
healthcare directly impacts the revenue of the healthcare companies, as increased
cost discourages patients in many ways, from taking lab tests to doing regular
follow-ups post visit, which ultimately leads to poor patient outcome.

According to Martin Gaynor, an economics professor at Carnegie Mellon

University, “Health care spending is high, and it is ultimately unsustainable.”

Here are a few things healthcare providers can do to reduce the healthcare costs for
patients:

 Provide local price variations to patients, either by healthcare providers or

insurers

 Empower patients to choose high-value plans according to their wallets

22
 Reduce the number of medical tests for patients. According to a study
mentioned by Dr. Atul Gawande, a surgeon, writer, public health researcher,
42% of patients received unnecessary tests in one year.

 Negotiate prescription drugs costs for consumers

Some other internal measures could be taken by healthcare companies are reliance
on healthcare information technology and developing a consensus with
pharmaceutical companies.

5. Payment Processing and Invoicing

According to the KF health tracking poll, although most of the people confirmed
that they can afford their treatment, but one out of four faced difficulty in affording
their medicine.

23
A combined effort from healthcare companies, insures, and benefactors can help
curb the rising cost of healthcare and thus help to solve one of the major challenges
in healthcare.

This effort leads to the development of effective medical billing processes and
procedures model, under which financial incentives could be associated with patient
outcomes rather than service quantities. The new payment model could also address
the concern of Dr. Gawande for unnecessary medical tests.

24
6. Pressure on Pharmaceutical Prices

At the beginning of the year 2019, RX Savings Solutions report revealed that
around three dozen drugmakers have raised prices on more than 250 prescription
drugs. It means the average price of the drugs will be increased by 6.3%. By
contrast, the inflation rate in the US for the past 12 months through November has
been just 2.2%.

Increase in prescription prices has led to the slow growth of prescription spending.

25
The rise in pharmacy prescription prices is one of the major healthcare challenges
for both healthcare enterprise and patients. According to Michael Rea, CEO of the
Rx Saving Solutions, “The reason it can keep happening is there is no market
check, no person or entity to bring reason to determining drug prices.”

An industry-based regulatory body can be formed including all the representatives

of all the stakeholders of healthcare and pharmaceutical industries to at least control
the hike in prices.

7. Healthcare Regulatory Changes

Regulatory challenges affect healthcare companies in two ways: one is it drives up

the cost of healthcare services and second is it creates confusion among the general
public, which is required to be addressed in a precise and proper manner to avoid
lawsuits. Timely reforms in healthcare laws and regulations are necessary, but the
problem is that companies are often not read to address the challenges that they
bring.

For example, Trump administration is now working on regulating Medicare and

Medicaid eligible healthcare providers. Research reveals that these laws and
regulations in healthcare industry will burden the healthcare providers to

26
meet new reporting requirements and comply with a range of revised standards
including:

 Health Insurance Portability and Accountability Act

 Centers for Medicare and Medicaid Services (CMS)

 Joint Commission on Accreditation of Healthcare Organizations (JCAHO)

A lack of effort by healthcare service providers could lead to entanglement in

complex lawsuit and penalty. To effectively combat these healthcare challenges,
healthcare providers need to create a platform to raise awareness and share
information quickly with all the bodies.

8. Healthcare Staffing Shortages

Many industry groups have predicted a shortage of around 100,000 doctors by

2030. Here, technology can help in many ways such as the use of telehealth can
help in a big way. Live streaming, store-and-forward imaging, remote patient
diagnostics can improve access to healthcare even in remote regions.

However, professional development on a regular basis and improvement in

infrastructure are the key to reducing staffing shortages in healthcare.

The influx of technology in the healthcare industry has completely changed the way
training and education is imparted in the healthcare sector. A shift from a

27
traditional clinical interview with a focus on acute illness to involving patients and
better staff communication can be seen, which is a good sign in terms of
professional development and efficient healthcare workforce shortage solutions.

9. External Market Disruption

There are many external forces that have made tentative inroads into healthcare,
causing disruptive innovation in healthcare. Increased use of smartphones and the
rise of mobile apps and ecommerce platforms have drastically changed the way
businesses interact with their customers.

Healthcare consumers are no different. In fact, they are emotionally and physically
vulnerable and so more sensitive to the quality of services.

According to Bain & Company, there are 5 key disruptors, which will cause
disruptive innovation in healthcare and set the healthcare trend.

These disruptors open up doors for new players outside the healthcare industry,
leading to increased competition and healthcare industry challenges. Companies
such as JPMorgan Chase, Amazon, and Berkshire Hathaway have announced last
year to deliver healthcare to their employees in yet-unspecified ways.

28
Amazon has also acquired wholesale pharmaceutical distribution licenses in several
United States. Besides, there are other non-traditional players like Apple, Samsung,
Alibaba, and Tencent have entered into the market.

These companies, powered by technology, have introduced digital disruption in

healthcare and consumerism into the healthcare industry, which rings the alarm bell
for existing players to investment Digital Transformation and other emerging
technologies like AI, Machine Learning, and IoT.

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 LIMITATION OF TECHNOLOGY

1. Increased Cost of the Treatment for the Patients

The increased cost of treatment is also one of the disadvantages of medical

technology .Mostly all the treatments and surgeries through technology are very
costly, like robotic surgery, and other kinds of technological machinery surgeries
are very costly.And most of the patients are belong to rural areas and they are poor.
For poor patients, it’s impossible to pay for costly surgeries. Technology increased
health care but also increased the cost of that. Which is impossible for the patients
to pay.

2. Show the Wrong Result of the Patients Condition

One of the cons of medical technology is sometimes the machinery or technological

devices show the wrong result. Sometimes it didn’t show the accurate result of the
patients to the doctor.The technological machines are made by engineers and
programmers. Sometimes the errors and bugs come into it. Then it didn’t work
properly. If it shows the wrong result and the doctor gives the wrong diagnosis to
the patients then it takes the patient’s life into danger. This is one of the most
dangerous cons of medical technology for the patients

3. Lack of Information of the Patients

Lack of information is also a disadvantage of medical technology. Safety and

privacy are some of the laws of hospitals.to protect the patient’s privacy. But by
technology, this law can be a break. The information of the patients which are stores
in the computer database of the hospitals can be a leak. The computer systems can
be a hack and the secret information about the patient’s treatment can

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be stolen and also can be changed. If someone changes the complete history of the
patient’s treatments. So, it can be a danger for the patient’s next treatments.

4. Time-Consuming in Recovery

The technological machines and gadgets which are used in the hospital for
treatments and checkups of the patients are made by engineers and programmers. If
there come some kind of faults and errors. So, no one can fix it because they didn’t
have the knowledge of recovering and fixing that machine. It required a specific
person who has knowledge of it. The engineers who made it. He can fix it. So, it
consumes a lot of time fixing and recovering the machines.

5. Damaging Cells and Organs of the Body of the Patients

Now a day’s lasering surgeries are very famous. Which has a lot of bad effects on
the human body? The lasers can damage the cells of the body. It can damage our
other internal organs in our body, which is very harmful,

6. Patients Online Treatment Through Technology

Nowadays the doctors do online treatments. The patients contact them online and
suggest the diagnosis to take. The patients have not to go to the clinic of the
doctors. They can easily get the treatment at home.

Without any checkup and analysis of the patient’s the doctor gives them the
diagnosis. Which can be wrong and can be dangerous for the patient’s health.

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IN CONCLUSION the use of information technology in the healthcare sector is
expanding at arapid rate. However, there are so many challenges being experienced
by healthcare providers as they endeavor to implement information technology
applications. For instance, the quality achieved as a result of investing in
information technology is not often rewarded. Instead of rewarding improved
service delivery, a majority of service providers put emphasis on the volumeof
services offered. Another challenge is the healthcare delivery fragmented nature
which makes it harder for healthcare organizations to adopt information technology.
Regardless these challenges, hospitals are investing in information technology
because it enhances information access by patients and healthcare professionals
which in turn enhances the quality of care provided to patients. The use of
information technology also improves communication between healthcare
professionals and consequently reduces missed care.

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 BIBLIOGRAPHY

1. Marketing Management: A South Asian Perspective - Kotler, Keller, Kevin 15/e, Pearson
Education, 2016.

2. Marketing Management - Ramaswamy V. S. &Namakumari S, 6/e, Sage Publication India Pvt

Ltd., 2018.

3. Marketing Management - Tapan Panda, 5/e, Excel Publication, 2007.

4.Retailing- k.suresh

5-Retail management – Gibson c.vedamani

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