The Evolution of Health Tech

Launching Segment for Healthcare, we had a front-row seat to the evolving healthcare landscape over the past few years. Segment is a Customer Data Platform (“CDP”) that allows companies to collect, unify, and activate customer data. While many sectors rapidly adopt new tech trends, healthcare tends to be more cautious. Healthcare companies were limited in their ability to use CDPs. But the potential for positive change is huge. Since the pandemic, the rising costs of healthcare coupled with labor shortages at every level bring an incredible opportunity to improve the lives of providers while boosting care outcomes. Furthermore, as the healthcare landscape shifts towards digital solutions, platforms like Segment play a pivotal role in harnessing patient data, paving the way for innovations like virtual care and Generative AI.

We launched Segment for Healthcare in less than 8 months. A year later, the number of healthcare companies using the full Segment product offering grew by over 5x. Each able to modernize and personalize patient engagement and the care journey. Whether it’s analyzing and improving patient onboarding or helping drive participation in health programs, Segment’s success is indicative of the changing landscape across companies in health tech, life sciences, and even payors.

This is just the beginning. Improving provider and patient experiences is about reducing the overhead, improving access, and providing clinical support wherever and whenever needed throughout the care journey.

Referral Rates to Specialists Have Doubled

Over the past few years, there has been a noticeable uptick in the number of patients being referred to specialists. Several factors contribute to this trend, independent of the rise of virtual care.

1. Increased Awareness and Early Detection: With advancements in diagnostic tools and increased health awareness campaigns, conditions that might have previously gone unnoticed are now being detected early. For example, guidelines from the American Cancer Society emphasize regular screenings, which lead to early detection and, consequently, increased referrals to oncologists.
2. Aging Population: As the baby boomer generation ages, there's a natural increase in health complications that require specialized care. The World Health Organization has highlighted the challenges posed by an aging population, including a higher prevalence of chronic diseases, leading to more referrals to specialists like cardiologists, endocrinologists, and rheumatologists.
3. Specialization in Medicine: The field of medicine itself has become more specialized over the years. Conditions that were once treated by general practitioners now have dedicated specialists. For example, gastroenterology, once a subset of internal medicine, now addresses a wide range of digestive disorders, leading to more referrals to these specialists.
4. Patient Advocacy: Empowered by easy access to information, today's patients are more proactive about their health. They often request referrals to ensure they're getting the best possible care. A study published in the Journal of General Internal Medicine indicated that patient self-referral is a growing trend, especially in cases where they believe a specialist's input is crucial.
5. Evolving Primary Care Role: The role of primary care physicians is evolving to become more holistic, focusing on preventive care and managing chronic conditions. As they work on coordinating care, they often collaborate with specialists to ensure comprehensive treatment.

As a result, specialists in the US are often operating at full capacity, managing an influx of patients and coordinating with primary care physicians to provide targeted treatments. This surge in demand has led to wait times that can often exceed 3-4 months.

The Digital-First Revolution in Patient Care

To address these growing wait times, providers need to deliver care more efficiently while improving patient access. Virtual care has emerged as a promising solution, providing timely specialist consultations without the long waits.

Virtual care, once a concept of the future, has now become an integral part of our present. It's not just about feasibility anymore; for many, virtual care is the preferred mode of healthcare delivery for non-urgent appointments. The convenience and accessibility it offers are undeniable.

Generative AI: The First Inning

Generative AI, a groundbreaking advancement in technology, has been making waves in recent times for its ability to understand and generate human-like text, transforming the way we interact with technology. This has kicked off an incredible cycle of innovation and is ushering in a new era for healthcare.

The impact of Generative AI isn't just about incremental improvements; it's about redefining how we approach patient care, especially virtual. By analyzing vast amounts of patient data, Generative AI offers insights that can sharpen diagnostic accuracy and refine treatment strategies. And it's not just about better care. It's about efficiency. By automating some of the routine tasks, clinicians can redirect their focus to the more nuanced aspects of patient care.

It's essential to recognize that healthcare is inherently complex. Prioritizing patient privacy, trust, and safety is paramount. Navigating intricate regulatory landscapes and integrating with legacy systems present additional challenges when it comes to adoption. But healthcare companies are becoming more tech-savvy, and the regulatory landscape is slowly but surely adapting to the times.

At Insight Health, we’re excited for what’s to come.

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