Transforming Patient Access Solutions Market Outlook-Ken Research

The term ‘Patient Access’ is broadly used to define as barriers to healthcare as lack of insurance coverage. High deductable health plans and financial limitations. However, these are traditionally termed as front end operations of revenue cycle. Patient access begins with the first point of contact that begins with initial encounter where the staff confirms patient identity, verify insurance coverage provide estimates of ordered services and more. Healthcare industry is currently focusing on streamlining and improving the performance of patient access as accuracy on the front end has proven to reduce bad debts and denials after the patient is either in process or completed the treatment. Technology is a key factor that allows visibility into insurance benefits and other essential sources of information. Patient access solutions comprise web based platforms that deals with electronic medical verification and claims processing system. This system allows the healthcare providers to manage their patient information, access the information in-house/remotely. This service expands beyond traditional healthcare to home, dental, veterinary and chiropractic industries. HealthCare Industry Research Report reveals that the global patient access solutions market is expected to grow at a CAGR of 7.7% for the period 2018-2022 and reaching approximately USD 2 Billion by the period end.

As patients engage first with the healthcare system, easy access to all the key information is what he or she looks forwards to. With introduction of healthcare reforms, rising patient bad debt, patient access has become the first line of defense to proactively provide patient access solutions and reach a healthcare bottom line. Health Care Industry Analysis suggests that the Patient Access staff is responsible for 80 cents of every dollar coming into a hospital facility. The features and advantages to these solutions are innumerable. Appointments can be scheduled into a single interface to improve workflows and enable patient workflows. Patient access solutions allow patients to fill open appointment slots by enabling patients to easily search for opportunities and to self schedule. These solutions allow healthcare providers to move payment cycle to the front of the revenue cycle. It allows patient to determine out of pocket expenses by comparing cash prices with real time specific member eligibility and other information. The goal is to holistically integrate patient access within the revenue cycle for optimal performance and better servicing the needs of the client. This includes human resources, education as well as integration of scheduling within the billing cycle to create personalized care for patients.

The patient access solution market is dominant in the developed countries with high disposable income and technological access. This industry has its roots in the US. Prominent players in the patient access solutions market are The Advisory Board Company (US), McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum, Inc. (US), Conifer (US), Craneware, Inc. (UK), The 3M Company (US), The SSI Group, LLC (US), ZirMed, Inc. (US), Cirius Group, Inc. (US), and AccuReg Software (US). These services are not yet provided actively in India but with recent technological upsurge, this might set its foot in the country in the near future.

As technology further expands to the other developing nations, this market shall see an overall increasing growth rate, globally. The goal of Patient Access is to educate and support individuals – patients, staff and providers – on their journey to deliver comprehensive, quality health care services. Accessing quality care can yield many benefits, including improved physical, social and mental health status through prevention of disease and disability, detection and treatment of health conditions, higher quality of life, preventable death and longer life expectancy.

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Advancements In Stem Cell Research Market Outlook-Ken Research

Advancements in medicine have led us to a time where there are options available to regenerate organs. Stem cell surgery is the use of stem cells to treat ailments and is gaining popularity for its ability to regenerate body tissue. Healthcare market research report consulting shows that it already has wide ranged uses in orthopedics, blood cell formation and brain and spinal cord injuries. Its application on the heart is also being extensively researched. Heart failure occurs when the heart does not pump sufficient blood to maintain bodily functions.

Heart Failure is a chronic disease needing lifelong management however, with treatment signs and symptoms can improve even making the heart stronger sometimes thereby helping you live longer and reducing your chance of dying suddenly. Doctors can sometimes correct heart failure by treating the underlying cause for example repairing a heart valve or controlling a fast heart rhythm may reverse heart failure. For most people though, treatment of heart failure involves a balance of the right medications and in some cases use of devices that help the heart beat and contract properly. Now a new research is being carried out to augment the use of stem cells in the process of treatment.  Clinical trial planning is underway at US based MedStar Heart & Vascular Institute to determine whether novel stem cell therapy will improve heart function for patients with heart failure. The trial will use CardioCell’s proprietary Mesenchymal Stem Cells (MSCs) manufactured by Stemedica. The goal is to improve outcomes in patients with heart failure and left ventricular assist devices (LVADs).

This research is a leap forward not only from the medical science perspective but also from a business standpoint. Healthcare business review indicates that the global stem cell market is expected to reach nearly USD 16 billion by 2025 growing at a CAGR of 9.4% approximately. This research has led to the partnership of three highly reputed US based institutions.  MedStar Heart & Vascular Institute is a national leader in research, diagnosis and treatment of cardiovascular disease and has been consistently ranked as one of the premier destinations for cardiac care in the region for more than 55 years. Stemedica Cell Technologies is a global leader in regenerative medicine that develops, manufactures and distributes adult allogeneic stem cell products and   houses more than 30 years of research and innovation. CardioCell is a global biotechnology company that explores therapeutic applications of stem cells and has an exclusive worldwide license from Stemedica Cell Technologies for the exploration of therapeutic cardiovascular indications including Chronic Heart Failure (CHF).

This research also proves that stem cells are gaining global interests. Stem cells are being used as building blocks for humans that are not only benefiting medical science by increasing its scope but also paving the way for further research and discoveries. Big medical companies are actively investing in the bright future of stem cells and this is evident by the research project being carried out by MedStar Heart & Vascular Institute. Technologically advanced countries are constantly attempting to increase the utility from stem cell products which is the main growth driver with the US being at the forefront of this movement.

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Optical Diabetes Detection Market Outlook-Ken Research

Diabetes is among the most rapidly rising ailments today. Market research reports for healthcare estimate that around 390 million people could possibly be suffering from diabetes with half of them not being properly diagnosed at global level. Already developed equipment for easily testing blood sugar level at home involves a drop of blood. More research has now led to simple devices that perform the same function without having to prick the finger for blood. The medical field is highly incorporating technological developments into its procedures. Furthermore, big tech giants like Google are also working towards integration of technology and medicine. One of the results of this is the Google Contact Lens.

Until recently most of the devices that were used to check the blood sugar level relied on a drop of blood. This drop when fed into the device would generate the result. Healthcare industry research reports reveal that devices like Accu Check and blood sugar test strips are popular. Google has now moved beyond the primary requirement for blood whilst retaining functionality. Google Contact Lenses do not require blood but instead rely on tears and water released from eyes for calculating and monitoring the glucose level whilst enhancing the vision of the wearer. The lens consists of a wireless chip and a miniaturized glucose sensor. A tiny pin hole in the lens allows the tear fluid to seep into the sensor to measure the blood sugar level. Both of the sensors are embedded between two soft layers of lens material. The electronics lie outside of both the pupil and the iris so there is no damage to the eye. The wireless antenna present in each lens communicates the information to a wireless device. The prototype being tested can generate a reading once per second. Smart contact lenses are one of the most anticipated IoT (Internet of Things) technologies. Similar developments are taking place in certain regions around the world where the companies have managed to get patenets.

Scientists from Uisan National Institute of Science and Technology in South Korea have developed a soft and flexible contact lens that will allow diabetics to monitor their blood sugar level with the blink of an eye by analyzing their tears and using LED pixels in the device. The developers have laid extra focus on improving vision and comfort of the wearer.

Oregon State University professors from the US are researching a bio sensing contact lens that has an ultra sensitive bio sensor that can detect the lowest glucose concentrations present in tears. After being fully developed the technology would transfer the information to a smart phone or other WI-FI/Bluetooth devices. Swiss pharmaceutical giant Novartis teamed up with Google to develop the Google Contact Lens. Many other companies are also planning to enter the sphere of smart contact lenses despite modest developments. Google’s development is leading the way for several others. Technology is being developed that will work in similar fashion and detect oxygen levels, pulse rate and even the presence of cancer.

From an analysis of ongoing research we can conclude that there are two main objectives of modern technology which are firstly, to increase monitoring and secondly, to integrate technology and medicine. The researches that best prove this fact are being carried out by some of the most technologically advanced countries in the world led by the US and South Korea.

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Telemedicine: Giant Leap For Healthcare Market Outlook-Ken Research

Healthcare sector has become of the world’s largest sector- both in terms of revenue and employment. Healthcare industry comprises of providers of diagnostic, preventive, remedial, and therapeutic services such as doctors, nurses, hospital, medical devices and equipments, clinical trials, telemedicine, medical tourism, health insurance and pharmaceutical manufacturers. Medicine plays a very important role in protecting, restoring and maintaining one’s life so it is prerequisite to have adequate quantity and superior quality at a reasonable rate therefore has become concern of global and national policy makers to fulfill the needs. Especially in rural or undeveloped parts of the country it has become necessary to initiate a system that could provide specialized pocket friendly medication. Health Care Market Research Reports state that Telemedicine solved the issue as it used telecommunication and information technology to deliver healthcare services where distance and inadequate infrastructure act as a barrier.

Over these years Telemedicine has transformed into complex integrated service used in homes, hospitals and private clinics. Healthcare has grown immensely since telemedicine injection because of its phenomenal characteristic to respond to medical emergencies by sharing expertise medical consultation and patient health records without delay in remote areas as well as urban. Telepsychiatry is one of the leading fields in Telemedicine as it brings expertise psychological treatment to patients remotely by experienced psychiatrist to their door step. There is quickly and timely follow up of patients along with maintaining their computerized comprehensive data. The modes of Telepsychiatry communication are:

Ø  Synchronous-mimic face to face

Ø  Asynchronous-non real time, store and forward

Ø  Through cell phones, mails, online chats, blogs etc

Telepsychiatry works in a setting where there is either just patient or psychiatrist interact virtually or in present of family or under surveillance of some other psychiatrist so that patient is safe and don’t harm him. Telepsychiatry deals with the treatment of depression disorders, panic disorders, agoraphobia, and social phobia and anxiety issues. It gives shy patient sense of confidence and comfort level without exposing that they are seeking psychological help which let them express their psychological state without any fear of being judged. Health Care Industry Analysis states positive outcome in terms of acceptability and satisfaction of this type of medication which is of reasonable cost as well as reliable. There are many institution and hospital supporting telepsychiatry for example in India it is actively supported by Apollo Hospital, cherry on the cake where south India involved mobile telepsychiatry unit with video-conferencing facility to cater one district and In America JSA health Telepsychiatry has been initiated.

Most Tele Psychiatry projects have been reported from the developed nation like America, Australia, Canada and certain Europe Countries. In developing countries like India is at its preliminary stage. Telepsychiatry holds the potential to solve the enormous and intertwined problems of under diagnosing and under treating persons with mental illness and the lack of trained manpower at grassroots level. With the growth in practice of Telepsychiatry it is expected to become more diagnostically reliable, efficient and cost effective according to the needs and resources of developed nation. Telepsychiatry has become feasible alternative for the existing and grossly scarce mental health services.

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