The Silicon chip and the stethoscope have long gone hand in hand. Indeed, Moore’s Law, a widely used forecast of rising computing power, can often seem to be nudging healthcare into the realm of science fiction, with life-saving high-tech innovations coming at a rapid rate today — and plenty more in the pipeline. That is surely good news for investors, and not only those with a medical focus.
“The potential for growth extends beyond the traditional healthcare sector,” says Sarbjit Nahal, head of Thematic Investing at BofA Merrill Lynch Global Research. With the provision that rising chip speeds can render a promising technology obsolete all too quickly (DVD, say hello to cloud streaming), here are the top five innovations Nahal and fellow “futurologist” Joseph Quinlan, head of Market & Thematic Strategy at U.S. Trust, think may offer investment opportunities in the years ahead.
Illustration Credit: Merrill Lynch
You’ve heard of virtual reality, maybe you’ve even tried Google Cardboard, but the world of augmented and mixed reality is still a mystery, as is its potential impact on healthcare delivery. Justin Barad breaks down what physicians need to know.
In 2012 a Kickstarter launched for a virtual reality headset called the Oculus Rift. The campaign raised $2.4 million – shooting past its $250,000 goal. What started as a garage-based pet project has turned into a worldwide phenomenon and two new computing platforms: Virtual and augmented reality. The market for virtual reality (VR) and augmented reality (AR) is projected to reach $160 billion by 2020. One of the major useful applications for this technology is in the area of healthcare. In this article, I will try and list a few of the interesting uses of VR and AR in medicine which I have broken down into therapeutics, visualization, surgical navigation, patient education, training, telepresence, telementoring, and workflow/EMR-integration.
By Justin Barad | Telemedicine Magazine
Image Credit: Osso VR
One of the most common misconceptions is that Virtual Reality is just for entertainment.
However, researchers, doctors and scientists from across the world have been exploring the use of VR in military and healthcare for decades. This accumulation of data has since exploded with the universal funding and adoption Virtual Reality is receiving from giants in the industry.
In turn this makes VR more affordable and accessible to the mass market, once a very big factor holding the technology back holding it back. We’re going to explore Virtual Reality in the healthcare industry and how it’s shaping the future for people across the world.
By VR BOUND
Illustration Credit: VR BOUND
Virtual reality is creating a safe space for patients and care providers in the healthcare sector. Not only can it help surgeons in training prepare for new operations, but it can also ease the minds of patients who may have had prior negative experiences. By offering more education to patients and providers alike, virtual reality is making for a kinder, more experienced health care service that has everyone’s best interest at heart.
These ten virtual reality companies are making strides in the healthcare sector by offering training opportunities, haptic feedback, and more considerate patient relationships.
Image Credit: Disruptor Daily
Spend enough time with Larry Smarr and, chances are, he’ll invite you to step inside his colon.
Like more than a million Americans, Smarr has inflammatory bowel disease. Unlike most, he also runs a cutting-edge institute replete with reams of ultrafast computers, crack graphics programmers, a towering wall of digital screens and a pitch-black virtual reality cave — all the better to summon up a digital 3-D version of himself that he calls “Transparent Larry.” Among its features is a larger-than-life replica of his colon that includes every nook, cranny, and section of inflamed tissue.
Smarr, 69, is a physicist widely recognized for his work on creating the national network of campus supercomputers that evolved into today’s internet. Now, he runs a futuristic institute called Calit2, housed on the University of California campuses in San Diego and Irvine, that works to advance a host of fields, including medicine. For the last decade, he’s been turning technology on to himself to quantify his body’s most intimate workings, with no clear idea where the experiment might lead.
Image Credit: Jurgen Schulze, UC San Diego
A Queens teen’s hope of singing are back thanks to an innovative brain surgery. Galahad Abella, 17, became worried when he began to see double the day after Christmas. A CT scan revealed that he had a rare golf ball-sized tumor. The tumor, called Clival Chordoma, is mainly found in patients aged 20-40. The teen from Elmhurst, Queens dreams of becoming a professional opera singer and has already performed at Carnegie Hall. Thankfully, his medical team at Mt. Sinai Hospital was able to remove the tumor, after breaking it up into pieces, through his nose. During the surgery, Dr. Anthony Del Signore used a virtual reality like technique called “Surgical Theater” which captures a 3D image of the skull and tumor.
Image: Courtesy of Mount Sinai Health System
The future of healthcare is happening right now. While that future is just barely forming, we are beginning to see how technology is now scratching the surface of an entirely different landscape when it comes to healthcare delivery both within and outside of the U.S.
According to PwC Health Research Institute’s annual report, 2017 is the year to prepare for the arrival of several technologies poised to disrupt the industry. This myriad of tech-driven innovation will impact just about everything from supply chain and operations to business models and essential healthcare management practices and procedures. Here’s a look at report’s eight proposed technologies poised with the potential to change it all:
By Erica Garvin | HIT Consultant