Efficiency, convenience, and automation are the three words that define everything the Internet of Things (IoT) stands for. Today, IoT has become a game changer technology that has been creating quite a buzz in almost every industry. But has this technology found acceptance in healthcare? The modest beginning of IoT in healthcare can be traced to the use of smart sensors, remote monitoring, and medical device integration as well as wearable biometric sensors, activity trackers, glucose monitors, smart beds and medication dispensers. Additionally, the use of IoT in healthcare will help mitigate pharmaceutical supply chain entropy, while improving transparency and visibility. The future of healthcare will be exhilarating with more expansion and investment in IoT. This technology is expected to optimize every aspect of care as well as the pharmaceutical supply chain and transfigure the way it is managed across the continuum. So, let’s understand in detail the reasons why IoT in healthcare is the need of the hour.
Need for IoT in Healthcare
To convert data into actions
Quantified health is going to be the new future of healthcare because health that is measurable can be better improved. Therefore, it is advisable to take advantage of quantified health technology. Moreover, performance is affected by data; so, an accurate measurement and tracking of health for better results is one of the major reasons why we need IoT in healthcare.
To enhance the health of patients
This is another reason why we need IoT in healthcare. By updating patients’ personal health data on the cloud and terminating the need to feed it into the electronic health records (EMRs), IoT guarantees that every minute detail is taken into consideration to make the most favorable decisions for patients.
To improve patient engagement and satisfaction
IoT in healthcare can boost patient satisfaction by optimizing surgical workflows. Additionally, it can also increase patient engagement by enabling patients to spend more time interacting with their doctors as it reduces the need for doctors’ appointment with the internet connected devices, delivering valuable data.
To assist care management
IoT in healthcare can enable care teams to gather and connect millions of data points on personal fitness from wearables like sleep, heart rate, temperature, perspiration, and activity. Consequently, alerts can be sent out to patients by the sensor-fed information. This will not just immensely improve the optimization of workflow but also ensure that care management is done from the comfort of one’s home.
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Role of IoT in Transforming the Pharmaceutical Supply Chain
#1. Tracking product origin
One of the most difficult questions to answer about manufactured products is “Where did this item come from?” In both process and discrete manufacturing, tracking the right provenance of components, raw materials, mixtures, assemblies, and products is a challenging and cumbersome process. With the use of IoT in healthcare, the origin of materials and components in the pharmaceutical supply chain, their compliance with regulation, serialization, and social responsibility can be comprehended far more effectively than ever before. This encourages deeper business trust, deeper transparency, and stronger partnerships.
#2. Visibility of production quality
As the pharmaceutical supply chain becomes more intertwined and business cycles shrink, the need for visibility and transparency in production quality is increasing. There have been several incidents of inappropriate quality certifications that affect companies and customers alike. Therefore, companies have started looking for ways to leverage IoT in healthcare to monitor production systems and capture a variety of production metrics.
#3. Tracking journey of product
When products are in transit, their theft, improper storage, and mishandling are common risks that pharmaceutical supply chain faces. The new digital supply chain model, catalyzed by IoT in healthcare, send alerts with the help of sensors installed in products in case of any issue with temperature-sensitive products. The use of IoT in healthcare enables precise tracking and tracing capabilities that show exactly what is happening to the product as it moves through the shipping process.
We at SpendEdge, believe that by leveraging IoT in healthcare, the next wave of pharmaceutical supply chain digitalization will meet today’s and tomorrow’s increasing competitive demands for speed, transparency, and precision. Moreover, it will also help in decreasing cost, time, and risk across the supply chain continuum. To know how our supply market intelligence solutions can help you mitigate disruptions, uncertainties, ambiguity, and volatility in your supply chain, request a free proposal now!