Smart Hospitals… Investment in Future and Success

Various analytical studies predict that by 2025, 10% of hospitals globally will have completed or be in various stages of implementing smart hospital initiatives. They also forecast the market opportunity to reach about $11 billion with the data analytics market. In this context, it is also required to develop various sectors related to hospital activity, including pharmacy and various medical services. Research indicates that smart hospital focuses on three major areas – operational efficiency, clinical excellence, and patient-centricity – with technological advances leveraged for these three areas to derive smart insights. Market opportunity will make revenues reach $5.9 billion in 2018. However, the two largest challenges obstructing hospitals from achieving the smart hospital vision are interoperability and cybersecurity. To truly achieve a ‘smart’ status by deriving intelligent insights, various devices, systems and networks in the hospital must ‘talk’ to one another in ways that are coherent and complete for a holistic analysis. However, this does not mean that this goal is hard to achieve, but we should avoid these challenges and hedge their risks. Hospitals will become “smart hospitals” and being on the right path can help achieve the desired goal.