LiveMint reports survey data and statistics that show how technology plays a critical role in changing the future of the healthcare industry in India.
As per the reports –
- About 76% of medical professionals use digital health records to store patient information.
- Implementation and use of artificial intelligence stood at 46%, which met the 15-country average among which the survey was held.
The data mentioned above indicates the prospect of technology and innovation in the Indian healthcare market. Subsequently, with the help of technology, medical professionals have increased the chances of reducing errors and misdiagnosis while treating a patient.
However, technology alone can’t omit the chances of errors and faults regarding treatment, and in this context, policies for doctors play a vital role.
So, even when technology can’t control the unforeseen incidents of misdiagnosis or wrong recommendations, having a policy like medical indemnity insurance can help healthcare professionals.
How does insurance policy help?
In cases of medical negligence, misdiagnosis, and treatment errors, patients or their bereaved family members can file a legal case against the doctor.
While such legal cases are expensive to deal with, there can be instances wherein doctors might have to pay a hefty sum as compensation to the patient or their family.
Having acquired a policy in such cases will help as doctors will be provided with the necessary financial assistance should they need it.
How does technology help in medical innovation and proficiency?
- EHR software– Electronics Health Record now exists in almost every medical unit for the ease of maintaining patient information and accessing it at any point in time when they need it. Medical professionals should keep problem-solving capability, user-friendly interface, and cost factor in mind before shortlisting the best EHR software for their clinic.
- Blockchain – With blockchain in the picture, this offers medical professionals a new direction in providing a more secure and reliable network to store information that is encrypted and is accessible globally. Nevertheless,
- Artificial intelligence – AI eliminates a lot of human work as the processes can be automated and performed by machines, reducing the time taken and the possibility of errors. This has a wide implementation in software applications that interact with doctors and patients. Moreover, it helps radiologists widely in the process of image analysis.
- Lybrate – Medical professionals can grow their medical practice with Lybrate as it provides doctors and patients with an online platform to connect over. Patients staying beyond in remote locations can seek medical consultation easily now.
With the advancement of technology and its highly beneficial features in the healthcare industry, doctors will be able to reduce the chances of errors in treatment. Nonetheless, incorporating such technologies comes along with the cost of hardware requirements, installation and maintenance charges, etc.
Medical professionals can either utilize their savings to upgrade the medical unit or they can apply a business loan for doctors and use the funds for such upgrades.
Non-Banking Financial Companies like Bajaj Finserv further makes the application procedure simple with their pre-approved offers on loan.
Implementation of technology has driven the healthcare industry towards a prospective future. Chances of misdiagnosis or errors are unlikely to happen but still a possibility. Hence, availing a medical indemnity insurance policy is also critical.
Acquiring E&O insurance (errors & omissions) policy will help medical professionals in case they meet any legal suites for misdiagnosis and treatment.
Subsequently, the advancement of technology has opened several ways for doctors to help them reduce errors of treatment and increase efficiency in the quality of treatment.
However, having a medical indemnity insurance policy will safeguard them financially against the perils that may come because of negligence, misdiagnosis or wrong treatment recommendations. Professionals will avail sufficient funds for the legal proceedings and compensation should the need arise.