The document discusses 4 emerging digital trends impacting the healthcare industry: 1) Big data, with more health data being collected but not fully utilized; 2) mHealth and wearable devices increasing patient engagement and ownership; 3) The Internet of Things expanding connectivity of devices; and 4) Data security becoming more vital as digital innovation increases potential threats. These trends present both opportunities such as reduced costs and improved outcomes, as well as challenges around data sharing and protection that healthcare organizations must address. Behavioral analytics and a focus on data security are seen as important to manage risks in this evolving digital landscape.

1. DIGITAL HEALTH
AFFECTING YOUR REVENUE CYCLE
4 TRENDS

2. INTRODUCTION
The average patient visits a healthcare
professional four times per year. This limited
frequency, coupled with patients' increasing
interest in taking control of their health, makes it
critical for providers to be able to engage with
them outside of the office.
As a result, every sector of the healthcare industry
now recognizes the importance of digital
innovation and we are seeing more prioritization
than ever on increasing connectivity and
optimizing the data being collected in order to
draw better insights from it.
The emerging digital trends impacting the
healthcare industry are as varied as the new
technologies being developed, but there are four
that are having a greater impact on the business
operations of healthcare organizations in
particular.
$3.5B was invested in 188 digital
health companies in the first half
of 2017 - a record for both the
number of companies & the total
amount invested.

3. 1. BIG DATA
"Big data" in healthcare refers to electronic health data sets so large
and complex that they are difficult or impossible to manage with
traditional data management tools and methods.
The last decade has seen a huge advance in the amount of data being collected.
Healthcare organizations are using this data not only for improved population health, but
also for optimizing operations and reimbursement models, improving profits, and cutting
down on wasted overhead.
According to a 2017 MGMA poll, most physician practices already use at least some
analytics capabilities in their systems, but they are not using them to their full potential. It is
not enough to input data into an EHR. Providers must be able to effectively organize and
analyze that data in order to gather actionable insights that can be applied to initiatives for
driving a healthier bottom line.

4. International Data Corporation (IDC) forecasts the
big data industry will reach $102B by 2017
The current problem plaguing the healthcare industry is that much of the data being
gathered is being siloed into the individual systems and networks that are capturing it
and we have not yet found a way to aggregate it into one system or EHR. This trend is
one to follow closely - when the tools become available to properly share the volume of
health data available it will fundamentally alter how treatment is delivered. Some tools
are already being developed and implemented. For more on the data analytics tools
you should be using, read our Healthcare Data Analytics & RCM White Paper.
WHAT TO WATCH

5. 2. mHEALTH
There is an expected year-over-year growth of 16.7% across the global
wearables market, with a projected sales of 310.4M devices from 2017
alone - that equates to $30.5B in revenue.
One of the largest contributors to big data in healthcare is the wearable device. Mobile
technology is changing the landscape of healthcare delivery around the world. We first
started to see its impacts in 2016 and know that it will continue to make an exponential
impact on the industry as people become more reliant on it. Patients are already
beginning to rely on video consults with providers, 24/7 access to their health data via
patient portals, and taking control of their own health by using fitness trackers.
Healthcare organizations that are embracing this technology are already seeing reduced
costs and improvements in patient satisfaction, and these impacts are only going to
increase.

6. International Data Corporation (IDC) forecasts the
big data industry will reach $102B by 2017
WHAT TO WATCH
Cost reductions as a result of
greater adoption of wearable technology
Hospitals are already beginning to use Fitbits and Apple Watches to help motivate patients to
maintain recovery regimens. Providers are also using the data gathered by the devices to develop
personalized wellness plans. The use of these devices is cutting down on costs, reducing re-
admissions, and improving reimbursement.
Improved patient engagement and
satisfaction via greater data ownership
As the cost of care shifts patients are taking more responsibility for their own health and
wellness. As a result, there is a growing demand for data ownership - real time access to
health and financial information by patients via online portals and wearable devices - in an
effort to gain greater control. Patient portals and an online presence give patients the access
they want as well as the ability to respond and engage with their providers, which has
become a requirement for a satisfying experience.

7. DATA OWNERSHIP
WEARABLES 24/7 ACCESS
PATIENT
SATISFACTION
WEB PORTALS
For more on the impact of web portals
on your revenue cycle, read our
Healthcare Data Analytics White Paper
of U.S. adults say they have looked online
for health information in the past year
of patients would consider switching to a
practice that offers online access to
medical records
of patients said that better access to their
data would improve their understanding
of their health
of people who have access to their health
information in an EHR use it
59%
2/3
3/4
80%

8. 3. IoT
Internet of Things: The concept of connecting
any device to the internet and/or to each other.
mHealth looked at a little more broadly brings us to the trend of IoT. It has been predicted
that by 2020 there will be over 26B connected devices, and that number will only
continue to grow. This will foster a giant network of connecting "things," which may result
in less office visits overall, but also allows for enhanced engagement.
The importance of patient engagement cannot be understated - it is the backbone of
today's health industry - but this enhanced engagement and connectivity can also lead to
the greatest digital challenge facing the industry today: data security.
For step-by-step instructions for improving your patient engagement campaigns,
download our free Creating Connections eBook.

9. 4. DATA SECURITY
The Value of Data: PHI is worth several times more than financial records
on the black market, so medical data breaches are continuing to
increase in frequency and scope.
While the IoT opens the door for many growth opportunities and enhanced engagement,
it also poses a great security risk. As the network of devices and systems storing
information - and the amount of big data being collected - grows in size, a focus on
ensuring the security of that network becomes extremely vital.
As the industry becomes increasingly digital, healthcare organizations must be able to
control how data is shared within the organization and remotely with patients.

10. WHAT TO WATCH:
BEHAVIOR-BASED PROTECTION
The future of of data security is in behavioral
analytics-based protection. Just as viruses are
learning to identify sensitive information,
behavior-based tools are learning how to identify
ever-mutating virus signatures.
In order to keep pace with the IoT and the threats
it presents, healthcare organizations must play
offense, not defense, when it comes to data
security. Protecting your systems from known
risks is a good way to get hacked, and hospitals
and health systems are particularly vulnerable
because of outdated technology.
Protect your patients by shifting to a defense-in-
depth strategy, where layers of security systems
are put into place to protect against incoming
threats - and those that may already be in your
system. To learn more about behavior-based
protection read our Healthcare Data
Security blog post.
Virus signatures multiply quickly
as hackers put their own spin on
existing strains, and by the time
your traditional antivirus
protection has been updated for
the most recent attack, a new
mutation could already be hitting
your inbox.

11. Ready to work with a partner that is
prepared for the digital future of
healthcare? Meduit is the future of
revenue cycle management.
MeduitRCM.com
P: 877.615.6360 | E: contact@meduitrcm.com
4135 South Stream Blvd., Suite 400, Charlotte NC 28271

12. SOURCES
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watch-in-2018
Written & Designed by Ali Bechtel, Marketing Manager, Meduit
This information is not intended to be legal advice and may not be used as legal advice. Legal advice must
be tailored to the specific circumstances of each case. Every effort has been made to assure this
information is up-to-date as of the date of this publication. It is not intended to be a full and exhaustive
explanation of the law in any area, nor should it be used to replace the advice of your own legal counsel.