The healthcare system is likely to look very different a decade from now, thanks to innovative technologies changing the course of our care and overall well-being. Whether it’s something as simple as direct communication with your doctor, something as refreshing as a quicker, faster recovery following surgery, or something as complex as a customized treatment plan based on genetics and lifestyle, health tech is coming to make your life easier (and healthier).
As medicine continues to merge with technology, it should enhance overall access, quality, and outcomes for all patients. Here’s how the innovation will likely impact your personal experiences in healthcare:
Our medical histories are complex, and how we approach medicine and prescriptions should be, too. In the future, we believe you will be able to expect less of a “one-size-fits-all” model, thanks to innovations in precision medicine.
While still operated by surgeons, robotic arms allow for extreme surgical precision resulting in improved patient outcomes, increased safety for healthcare workers, and reduced surgeon burnout. The industry is still highly underpenetrated, highlighting the technology’s potential.
While the shift to virtual care, also known as telehealth, was kickstarted due to the pandemic, there is still a long runway for growth. The year 2021 saw record funding to telehealth startups totaling nearly $18 billion, up 58% from 2020. (Source: CB Insights)
Gone will be the days of walking into a doctor’s office and filling out the same intake form that you completed the last time you were there. Medical documents will be digitized, making for much easier access and updating. Sharing electronic medical records will also, in turn, grow to be commonplace, thanks to the strengthening of cybersecurity and blockchain.
Knowing our genetic history of diseases and illnesses is power, and yet, tracking and identifying the likelihood of inheriting those ailments is still extremely limited. As technology continues to improve, a simple blood draw could be able to detect illnesses early, allowing for rapid and targeted treatment to eradicate the disease.
Rather than making our own (sometimes uneducated) decisions when it comes to tracking our health and habits, wearable health devices are already and will be even more so in the future, capable of providing real-time data based on heart rate variability, blood oxygen levels, and skin temperature. This data will help you to respond and perform at optimal levels, noticing how minor changes can impact your well-being.
We believe brighter days are ahead for the patient experience across many facets of healthcare. While we may have a little bit longer to wait until we can fully capitalize on the innovation to come, incredible developments across health tech are happening all the time. Interested in investing in this innovation? The ROBO Global Healthcare Technology & Innovation ETF (NYSE: HTEC) provides exposure to the companies creating the future of healthcare.
