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According to “National Health Expenditure”, spending growth of hospitals is projected to accelerate to 5.7% per year on average over 2020-27 due to increase in spending growth of all payers (and medicare in particular). Also contributing to faster growth over 2020-27 is somewhat higher price growth arising from expected increases in wage growth and tighter labour markets for healthcare professionals.

As the number of confirmed COVID-19 cases spikes, several countries have found lockdown as a solution to control this pandemic. As hundreds and thousands of people stay at home following this emergency protocol to prevent COVID-19 spread, they are avoiding visits to medical clinics or in-person physician consultation for acute illness.

The coronavirus outbreak, which originated in China, has infected tens of thousands of people globally. With over 153,648 confirmed cases across 146 countries, the World Health Organization (WHO) has officially declared it a pandemic. (Source)

7% of Google’s daily searches are health-related, equivalent to 70,000 searches every minute. People are asking us questions about conditions, medication, symptoms, and insurance, confirms David Feinberg (VP, Google Health). 

Patients with scheduled clinical appointments, who do not show-up, harms the clinical workflow, patient care system, and cost-effective care delivery. Studies suggest that 1 out of every 5 appointments are a no-show.

The healthcare industry is adopting technology for prevention, diagnosis, and treatment. Artificial Intelligence (AI), Blockchain, Internet of Things (IoT), Robotic Process Automation (RPA) are some of the technologies that are making waves in the health-IT sector, enabling stakeholders to refine the quality of health.

The digital health market is expected to reach 206 billion U.S. dollars by 2020, driven particularly by the mobile and wireless health market. | Statista

The digital care platforms are taking over the healthcare sector and the investments in it manifest its growth rate. Moreover, consumers are embracing digital health systems, giving better opportunities to providers for care delivery.

Chatbots have been the most followed trend. These mini software programs that mimic human conversation are appreciated for sorting a number of tasks for businesses and as well as their customers. That is why it is predicted that by 2020, 25% of the customer service operations will be managed by virtual customer assistants, such as chatbots.

The smart speaker market continues to grow, with global shipments tripling from 3.9 million units. These speakers, integrated with virtual assistants like Alexa, Siri, Cortana is enabling users to perform tasks like checking the weather, asking to turn off the lights or play favorite music, set reminders, and a lot more with voice instructions.