Implications of IOT for the Emerging Economies – Strategic Significance, Pitfalls, Challenges and Opportunities
As technologies, methods, processes, analytics and cloud computing become omnipresent, omnipotent and omniscient, the business paradigms for IoT for the emerging economies would be expected to be radically different from those for economies with large financial strengths to support and utilise the technologies.
The single biggest difference between the emerging economies and the developed world are handling the huge numbers of patients – at an affordable price with limited resources. Technologies being developed under IoT would address the problems of the developed world with small population, high payment capacity and high quality and suboptimal resource utilisation. The difference is stark. The technological perspective needs to adaptability, accessibility, affordability and ability to deliver the right solutions.
The technologies that emerged in the developed world and are extensively used in the emerging economies such as desktop computing, mobile phones, the internet have proven their ability to reduce costs, engage manpower productively, and improve incomes across the various types of economies.
The strategic significance of the IOT technologies for healthcare in the developed world are in terms of improvement in quality of service, while the significance of the same technologies for the emerging economies would emphasize the capability to service larger number of patients, at lower costs, in the shortest possible time, with minimal resources. It is worth examining the needs that IOT will bring out – different skills, different business processes and different healthcare processes – all with the same objective – to deliver the best of breed solution to the large population with extremely low capacity to pay.
The pitfalls lie in trying to ape the usage patterns of the devices and technologies as used in the developed world without adapting them to the local requirements. An even bigger pitfall is ignoring the empowered customer – call him a patient or anything else. With the same tools available to him as the service provider, his on demand, self-service needs will change dramatically.
The challenges lie in adopting, adapting, and assimilating the technologies and methods that will transform the way health parameters monitored, health interventions supported, healthcare is delivered, and health outcomes improved.
The opportunities for IoT in emerging economies are large – from reaching, empowering and direct intervention in remote areas at an affordable cost, to well-targeted interventions, communities that can manage their own healthcare needs, to realistic health insurance, just to name a few.
Director at 21st Century Informatics (India) Pvt. Ltd.
Rajeev is Director and Principal Consultant and handles Electronic Medical Records, Hospital Management Systems, Diagnostic Information Systems, Business Process Improvement, Knowledge Management, Training and Government Business
Rajeev has been providing solutions for Hospital Information Systems and Business Process Improvement for private and public sector hospitals and institutions for core areas of consulting. He has been working for past over 25 years in the field of healthcare informatics and project management. He has been involved with many public and private institutions globally as Principal consultant. His main work involves analyzing, defining, designing, specifying, developing, implementing and post audit of best practices appropriate for institutions. He has been working with large public and private hospitals, medical institutions for core health related areas like, Hospital business process improvement, Hospital MIS, costing system for hospitals, PACS (Picture Archival and Communication Systems), Enterprise health and hospital network, Health management systems, Pharmacy and Materials Management System and Medical Records. He has also been a faculty to various B- Schools and seminars and writes extensively in several accredited healthcare journals. He has also been involved in providing consultancy in for Just in Time Manufacturing, Theory of Constraints, Supply Chain Management, Quality Assurance, World Class Manufacturing, Information and Communication Technology, Management Information Systems, and Business Strategy to various organisations.
Rajeev is well versed in Electronic Medical Records, and its various applications across a spectrum of healthcare service, materials and finance providers. Apart from being an avid trainer in the technicalities of Electronic Medical Records he also loves educating users at all levels with the aspects of change management for putting in place such new technologies, management policies and effective business processes.
Life Member of Indian Institute of Materials Management
B. Tech (Mechanical Engineering) from Indian Institute of Technology – Bombay
Post Graduate Diploma in Management from Indian Institute of Management Calcutta – Operations Management and Systems
IoT, Emerging Economies,
CxO, VP / Director, Middle Management, Operations
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