How health technology is revolutionizing healthcare

Evolving toward a more innovative healthcare model in order to provide the best health services to citizens is the goal of what is known as health technology, a term that groups together all innovations applied to the healthcare sector. Artificial intelligence, data science, and software development are some key examples. Below are the key points to understand how health technology is “healing” a system that needs to be renewed in order to keep pace with the needs of the people it serves.

The business volume generated around health technology shows that this activity has great potential and plays a key role in both the economy and a healthcare system that must serve millions of people. In 2023, this sector reached a turnover of around 10.6 billion euros, according to the Sustainability Report of the Spanish Federation of Healthcare Technology Companies. Another revealing figure is the employment it generates, with 32,000 direct jobs and 100,000 indirect ones.

At this point, it is necessary to analyze what we mean by health technology, with examples and real cases. The advantages for the healthcare system are numerous, and the main beneficiaries are patients, who must be the center of attention in this sector.

What is health technology?

Advances in medical diagnostics, improvements in the management of procedures in hospitals, healthcare centers, and laboratories, optimization of healthcare resources to enhance response capacity… Health technology is present in virtually every activity carried out within the healthcare world. Hence the importance of understanding in depth how these advances and innovations are being generated and of having expert professionals in this field.

Health technology includes all innovations applied to the healthcare sector:

• Medical devices
• Healthcare-related management software
• Artificial intelligence applied to healthcare
• Data science, big data
• Laboratory advances
• Innovation in the pharmaceutical field

These are just a few examples of what can be considered health technology, but its scope goes far beyond this. The key lies in how all these innovations together result in a more efficient and responsive healthcare system that meets citizens’ needs and addresses the challenges faced by professionals, organizations, and specialized companies.

The evolution of technology in healthcare

Innovation and technological advances have always gone hand in hand with healthcare. Improvements in systems and equipment have enabled progress in diagnostics, treatments, and internal management in hospitals and companies across the sector. Among the most significant milestones are:

1. Information Technologies (IT) began to be integrated into healthcare in the 1950s.
2. Early stages focused on process optimization and improvement.
3. Currently, there is progress toward full digitalization of certain healthcare operations and a commitment to investment in R&D&I to improve treatments and patient care.

Advantages of technology in healthcare

The key to this evolution lies in how the benefits of investing in health technology have become evident over time. How? The following list summarizes some of the advantages of technological innovation in healthcare:

• Improved patient care
• Real-time and global information sharing: medical records, prescriptions, error tracking and resolution, etc.
• Advances in medical equipment and specialized machinery for healthcare purposes
• Fast and effective review of procedures to propose alternatives almost instantly
• More agile collaborative work

Health technologies: examples and cases

There are numerous cases that show how health technologies are improving the system. This final section focuses on them. What examples demonstrate how healthcare innovation is positively influencing the sector and directly benefiting patients and public well-being?

Telemedicine

Booking appointments through an app, accessing medical prescriptions as a patient, primary care assistance via remote connections, video calls or videoconferences… There are many forms of telemedicine, one of the major advances of the 21st century. COVID-19 and the pandemic were key in accelerating its widespread adoption.

Innovation in medical systems, machinery, and equipment

Health technology has been key in reducing hospital stays by around 13%. The optimization of diagnosis and treatment formulation speeds up patient recovery and reduces the risk of system collapse, ensuring hospitals and healthcare centers can continue responding to citizens in critical situations.

A notable example is the coronary stent, artificial tubes that keep arteries open and are used to treat cardiovascular diseases. These have reduced deaths from heart attacks by half.

Cataract surgeries and treatments for hearing impairments, including implants and other innovations that extend the autonomy of people with certain conditions, are also examples of health technology.

Big data in diagnostic research

The collection and interpretation of data enables important findings that can be applied to save lives. Cloud technology allows information to be stored and shared in real time with professionals anywhere in the world.

This is another successful case of how health R&D&I is helping to move toward a world better prepared to face diagnoses and diseases.

Addressing these challenges requires qualified professionals with training and experience aligned with the sector’s demands. At EAE Business School Barcelona, the MBA in Healthcare & Pharma is offered, addressing key challenges for healthcare systems such as access to innovation, demographic aging, and sector sustainability.

It has a practical approach and serves as a platform to boost the professional career of those interested in a high-growth potential field.