An Emerging Market - AI in Medical Imagine

Imagine you are at remote place and you met with an accident but there is no Lab and radiologist available, you just take X-ray from portable x-ray machine or mobile phone, upload on AI platform, your AI using Advance AI able to tell you about your current status whether there is any fracture or not.

Above is just simple example what AI can do in Medical Imaging. Healthcare Technology is on revolution. Technology is revolutionizing all the field of healthcare. From simple patient registration to high end Cancer treatment. Using technology healthcare providers are able to give result fast and accurate. One of the emerging field is totally on verge of technology shift is Imaging services in Healthcare. From Couples of years Artificial Intelligence has captured the attention of Doctors and investors. Large Research hospitals are working on AI to perfect the process for clinical use. Advancement in medical Imaging is going to reduce the work load of Doctor in large hospital and shortage of Radiologist in remote area. When radiologist calls up to read CT scan or X-ray, AI will review the image and identify potential findings immediately –AI also compare the Medical history of the patient from EHR.

Example: How AI works in Medical Imaging.

https://www.itnonline.com/videos/examples-artificial-intelligence-medical-imaging-diagnostics

In past through Machine Learning Technologist have reached up certain level of accuracy but using advance Deep learning accuracy can be reach up to 100%. There is a report published by RSNA about Deep Learning which can Identify TB.

http://pubs.rsna.org/doi/full/10.1148/radiol.2017162326

There are many startup are working on this- Like

http://qure.ai/ - Qure.ai

http://genetesis.com/ - Genetesis

https://sigtuple.com/ - Sigtuple

https://www.butterflynetinc.com/ - Butterfly Network

https://baylabs.io/ - Baylabs.

AI will going to take some percentage of $3 billion market of Medical Imagine. 

Information Age to Intelligence Age

Technology is on big shift in all industries and healthcare is not left behind.  There are lots of disruption happening around the world in healthcare sector. Lots of new startup are coming up with innovative solutions. New technology like AI, Machine Learning, Deep Learning are pervading in Healthcare. Rising income and increasing healthcare spending are giving boost to investment in healthcare in emerging market. In Indian Companies like

 Maya- http://www.maya.live/

Grow Fit- https://getgrowfit.com/

QorQI - http://www.qorql.com/

Elth.ai - http://elth.ai/

Above list are just 4 of them, but more innovative startups are emerging in Healthcare. All having common goal “Providing best and affordable care through leveraging cutting edge technology”. Innovation is only solution to provide best and affordable healthcare to most needy population.

Healthcare is such an industry which generated huge data every second. Now we have such technology where we can store and secure huge data. It’s depend on companies how they want to utilize these data. Through analysis data we can we can give better and informed care to patients and predict the risk in patient before occurring. If any industries want to take advantage of Data then they have to start storing and securing data right now. Data is basis of all new cutting edge technology. One can develop AI when they have huge huge data to work on otherwise AI will not give quality result. “To guarantee quality care we first have to measure, to measure, we need data.” Barriers in adopting new technology is cultural rather than technological. 

Want to succeed and grow in the Digital World

Want to succeed and grow in the Digital World. You need strategies that answer following essential questions.

1.       Consumers – How connected is my audience?

2.        Connection – How do I reach them?

3.       Content – What content needs and the platform should I target?

4.       Commerce – How can I turn that into commercial opportunity?

Execution!

How To Execute Effectively ?

1. Improve Co-ordination across Units.

2. Reallocate resources continuously.

3. Keep Message Simple and Consistent.

4. Reward behaviour that support Execution. - Ex-Ambitious,Agility, Experimental,Innovation.

5. Have Front line manager to take Tough Calls.




                        

New Medical Trends and Practices

1. Gene Testing

2. Percision Oncology

3. Greater Reliance on Robotics

4. Stem Cell Therapy

5. Bio-absorbable  Stent

6. E-ICU's

7.Cloud Based Point of Care Devices and Diagnostics for Remote Location

8. Heart valve replacement with minimal invasive surgery procedure.

9. Use of AI and Advance AI like image recognition and voice recognition.

10. Digital Therapeutics. 

Net Promoter Score (NPS) : Simple but powerful tool to measure customer experience of your brand

Just like revenue and profit, Customer loyalty can be systematically measured, managed, and improved. As we know that loyalty is directly proportional to word of mouth.

To compute NPS for your organization, select a random sample of one hundred customers and ask them "On a scale of 1-10","How likely is it that you would recommend (Brand) to a friend or colleague?"   After you receive the responses,divide them into three buckets. In the first bucket,place the responses that are a 9 or 10,and label that bucket "Promoters". In the second bucket,place the responses that are either a 7 or 8,and label it "Passives". In the third bucket,place the responses that are 0 through 6, and label it "Detractors". 

Once done,focus only on the Promoters and Detractors. NPS = Promoters - Detractors. For example responses are 50/20/30 for Promoters/Passives/Detractors respectively them, NPS= 50-30= +20. If it is 20/10/70, NPS= 20-70= -50. So NPS above 0 means that majority of your customers are happy and willing to give you strong referrals for free. 

Promoters are customers who love your organization so much that you might as well think of them as your sales ambassadors. They spread positive word of mouth. 

Detractor are their exact opposite. They are your unsatisfied customers,who had bad experience with your organization. 

The Passives are neither excited nor disillusioned, they are neutral, they do not spread any word of mouth. 

So, NPS quantitatively captures the net word of mouth power of your organization. 

Every companies/ Leaders must do introspection of following 4 things to get success.

Kaal (Time): Do you take right action at right time? Are you launching new products/services at the right time? Is your market is ready for your product/services? Are you able to meet project time? Etc…

Gun (Character): Are your intention of doing business is right? What is your purpose of doing business? Are your company is in the path of mission and vision statement? Etc...

Karam (Action): Are your company taking every possible step which leads toward success? Are your employees goals and company goals are same? Have you taken needed right action to correct past mistakes? Your each every action shows how you and your company serious about the Goal/Aim/Objective. Etc...

Swabhava (Nature): How do you treat your clients and employees? Are you fulfilling your commitments which are made during contracts with client? Are your customer care team/front teams treating correctly as per company standard procedure? Etc...