Similar to how India’s digital banking revolution made formal banking accessible to anyone with a smartphone, a similar revolution in healthcare digitization is anticipated, with the even more exciting promise of lowering costs and enabling universal access to higher-quality healthcare.

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Additionally, the digitization of healthcare is expected to create chances for a new wave of start-ups in a massive health tech boom, much as how the fintech industry was born out of the digital banking and payment revolution. 

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The widespread adoption of electronic health records (EHRs) will be the foundation for the growth of the health IT industry. 

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A patient’s name, gender, age, weight, vital signs, allergies, complete medical and prescription history, immunization status, test results, and other health-related information are all stored in an electronic health record, or EHR. 

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Physicians and other healthcare professionals are supposed to generate and update the record regularly. 

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Modern electronic health records (EHRs) are interchangeable, although earlier versions of EHRs were designed primarily for internal usage in clinics or hospitals.

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EHRs come with multiple benefits. The Fintech news latest is here. 

Clinical decision-making is sped up and improved when medical history, including lab test data, is easily accessible.

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Similar to the US, India has implemented an incentive program under the Ayushman Bharat Digital Mission to promote the adoption of EHRs. But there’s still a long way to go. 

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Fewer than 17,000 medical facilities, clinics, or diagnostic labs have registered for the incentive program. 

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The vast majority of clinics and hospitals use paper-based documentation. 

Nevertheless, setting up more than 34 crores of unique Ayushman Bharat Health Accounts (ABHAs) connected to medical records is a positive step toward establishing a national EHR system. 

More EHRs would mean rich people and population-level health data available, which would present entrepreneurs with opportunities to develop apps. One such use would be to facilitate healthcare professionals’ data entry and retrieval. 

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Applications that make utilizing an EHR easier for doctors—especially those who are not tech-savvy and are under time pressure—will become a popular category.

An efficient visual aid such as a chart, graph, or animation could assist a busy general practitioner in reaching the right findings and making well-informed judgments. 

Even more useful information, such as prescriptions, diagnoses, and treatment plans, can be extracted from medical narratives using Natural Language Processing (NLP) algorithms. This simplifies the documentation process and improves data usability and accuracy as we unlock the fintech news latest right here.

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Utilizing A, sophisticated apps might leverage advanced analytics to extract valuable insights from EHR data. Technology and fintech updates are distilled through experts’ minds.

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These findings create countless prospects for new business endeavours, ranging from individualized treatment regimens to disease prediction. 

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Imagine having personal health-tracking apps that monitor a person’s vitals over time, compare them to millions of other people’s data, and notify the user when preventive care is necessary. 

More potent healthcare apps can be made by adding AI layers to EHR data. AI-powered clinical decision-making software can help general practitioners diagnose and treat patients considerably more quickly, as well as provide more individualized treatment recommendations. 

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Wearable trackers and AI-powered technologies integrated with a patient’s electronic health record (EHR) can enhance diagnosis accuracy and treatment outcomes by enabling personalized, real-time diagnostics. 

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Predicting the beginning or course of a disease and identifying patient populations at risk are two other uses for population-level health data. 

Healthcare professionals can enhance patient outcomes by implementing proactive preventative therapies by stratifying patients based on their chance of developing specific illnesses using existing AI models that examine previous health data. 

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Particularly in underserved rural locations, next-generation telemedicine platforms connected with EHRs can greatly enhance remote patient monitoring, consultations, and diagnostics.

Specialists can remotely oversee patients during speciality tests like endoscopy, which saves time and money in primary care settings.

Advanced remote monitoring systems that leverage artificial intelligence (AI) can assess patient-generated health data via wearables and Internet of Things (IoT) devices, allowing for the timely involvement of healthcare personnel in the event of suspected health issues. 

These offer a taste of the opportunities that the approaching EHR era presents for business endeavours. The impending health tech boom is a chance for those searching for the next big thing in startups to improve the health and well-being of millions of Indians. 

Well dear reader, please stay tuned for further updates as well as the latest news on fintech.