Apple Watch – Shaping the future of healthcare
In a recent turn of events, Apple took a significant step to influence the future of healthcare. It announced three unprecedented medical studies, in collaboration with prominent academic and research institutions, that will reach more patients than ever before.
The first sign of Apple’s interest in heath was evident when it launched the first Apple Watch that introduced the HealthKit platform & Health app. This also hinted towards Apple’s inclination towards bringing medical professionals on board.
But what does Apple have to do with healthcare?
The market opportunity in healthcare is not something that can be overlooked easily. Tim Cook, CEO of Apple, says the healthcare market makes the smartphone market look small.
The industry’s potential can be determined by the fact that over $7 trillion is spent on healthcare every year, making this about 10% of the world’s GDP. Promising, isn’t it?
This has undoubtedly spiked Apple Inc.’s interest to go beyond wearables like the Apple Watch and to lead the digital disruption in the consumer healthcare market.
If successful, the company’s market opportunity can be estimated from $15 billion to an ambitious $313 billion in revenue by 2027, according to some analysts.
So, what does Apple Inc. have in mind?
It aims to fuse the world of patients, medical professionals & institutions together but by making patients the centre of everything. Healthcare may not be Apple’s area of expertise, but the brand has itself been successful in building an ecosystem of products that work seamlessly with each other. It is a brand that has put customer experience at its topmost priority while most healthcare institutes themselves have notoriously terrible customer experience.
Today, the healthcare industry is moving towards a more proactive model, that requires reaching out to patients and having a strong brand identity. And Apple knows this too well. The time and trust that customers place into Apple’s products’ gives it an edge over the rest.
As of December 2016, 85.5 million people used iPhone in US alone compared to UnitedHealthcare that had merely 50 million enrollees.
Apple’s strategy is to become the backbone of patient care. It is helping the healthcare industry make an important shift towards wellness and customer experience at the same time. Apple’s 3-way strategy includes:
- Software that allows patients and providers to share and monitor data through apps.
- Hardware comprises of the Apple devices such as Watch and iPhone creating the seamless ecosystem.
- Building relationships between patients, health professionals and doctors to monitor and share data with ease.
Apple healthcare allows copious amounts of data to be transferred from hospital to hospital across various databases- thus making it easy for professionals to extract and analyse patient information.
Apple knows that the tech industry is becoming more competitive than ever, which is why we notice how companies are now diversifying to stay relevant i.e. Google making phones. As companies differentiate, healthcare can help Apple in staying sustainable.
Companies such as Apple, revolutionize the ordinary way of doing things by bringing in a new era- an era of customers. By blurring the lines between healthcare and technology, Apple empowers patients to make decisions and communicate with professionals easily. Successful healthcare facilities put their patient experience as their topmost priority and aim for coordinated, personalized & seamless services.
Just like Apple, Antlere enables comprehensive customer experience that brings patients, professionals & healthcare providers together at a single platform. This is to reduce patient suffering and turn insights into action with the industry’s best practices. It strengthens patient-care relationships through real-time feedback creating meaningful dialogue and capturing insight on patient’s mind. The ability to establish effective communication in healthcare is the key to provide the best patient outcomes possible.
So, are you ready to take on the challenge just like Apple did?