October 26, 2021
According to Alvin Toffler, “Technology is the great growing engine of change” and he couldn’t have been more right. And we have numerous cliché buzzwords in the industry such as transformation, innovation, CX/Customer Experience, digitization, automation, etc., that promise this shift for a new market.
Healthcare Companies too, are busy engaging IT vendors to bring in the change that will unleash a surge in productivity through new business models. This is out of the realization.
By tapping into the On-Demand market with the help of technology, companies can increase efficiency by providing unlimited value at home & working for their current products & services. Innovative goods and services created with the support of new tech can create new markets which are fundamentally different from the traditional markets.
Linear growth is considered traditional and redundant for this age. So, Non-Linear growth could be achieved through digital transformation & cloud adoption.
The Challenge – How do we approach?
ZoftSolutions conducts a series of workshops each year on Cloud-Enabled digital transformation for our clients. The last one was conducted for customers in Care Giving Business between 18th and 22nd November 2019, which was extremely effective with the presence of dignitaries including veteran consultants in the Healthcare Industry, Digital Transformation Leaders from the Healthcare & DX COE team at ZoftSolutions.
Matter of Discussion:
1) Patient-Driven Care: Technological advances have made it possible to enable patient-driven care. The key to this is to improve patient engagement that ensures convenience & control for the patients and the caregivers. Having an insight into the integrated information on their patients through prediction analytics & advanced gear brings in more clinical efficiency for caregivers.
Using smart gears enabled with high adoption of cloud technology will track and measure activity details including anxiety levels of patients which will provide the required edge for close monitoring and better patient engagement.
2) Unlock Real-world Data: The hoard of data produced in the Healthcare industry has an enormous value from clinical, financial & operational terms.
“The new markets this data could unlock is worth more than $300 billion”– McKinsey
Predictable models designed on real-world data help companies reduce decision-making time by at least 70% and increase marketing ROI by almost 25%. Our data scientists in Healthcare shared their success stories working closely with industry partners who provide an unprecedented amount of health data to drive precision outcomes. Driving insight from legacy data, our data scientists presented machine learning models that would predict the probability of churn of a new customer.
3) Understanding Customer Interaction with our Company: Customer behavior combined with demographics helps companies identify new possible branches based on business profitability and also helps in customer retention.
4) Unifying Applications: This is one of the major roadblocks among most companies. Most of their systems are in silos and won’t communicate with each other. Today with the growth in integration adapter technology, it’s very much possible. Hence this time as part of our workshop, the ZoftSolutions team presented case studies transforming clients’ ecosystems with our experience with cloud-based adapter technologies like Mulesoft & WSO2.
“By 2020, a whopping 83% of workloads will be hosted on the cloud” – Forbes
Companies are already pushing for digital transformation with the support of the cloud to achieve speedy Go to Market, enhanced Customer experience and to leverage its ability to achieve Non-Linear growth.
ZoftSolutions supports our clients to test and deploy applications in the cloud through (MVP) or faster decision prototypes. For superior control over customer decision journeys and to discover new markets in your business, a “cloud-enabled business model” is the key and digital transformation will act as the catalyst that steers your business ahead of time.