Sectors that lost revenue during pandemic and looks to be stable post pandemic

Challenges:

1. Revenues have reduced due to suspended elective services. Hospitals need an effective financial recovery plan to reduce the impact of such losses.
2. During COVID-19, the rise and adaptation of telehealth and remote patient monitoring arises an opportunity for hospitals as well as a challenge to implement it in the right manner.

Artificial Intelligence Powered Solutions:

1. Elective surgery recovery plan – AI is helping hospitals by accessing the impact of suspended elective surgeries on revenues in different geographies. Understanding in-person visit data, appointments, cancelations, and past patient records, AI is suggesting which patient should be re-engaged for surgery, which patient for an in-person visit, and which patient for telehealth consulting. Using this data, hospitals can access their capacity and safely plan to re-engage patients.
2. Remote Healthcare – During the lockdown due to COVID-19, telehealth, and remote patient monitoring has won the confidence of patients and are ready to become a new normal. Data analytics companies with the help of wearable devices (like health bands, smartwatches, and mobiles) capturing patient data, enabling patients with self-management and empowering clinicians to better monitor patients. Using the patients’ medical profile and their current lifestyle, AI is also helping clinicians with suggestions on the right intervention plan for effective patient care management. Goal-based intervention plans suggested by AI where a patient gets incentives (like loyalty points) for completing their health goals is driving higher patient engagement and adherence.