Health insurance goes digital – Monitoring your well-being in 2020

Have you seen or tried a smartwatch or smartband? It’s perhaps a good indicator of how we’re all keeping an eye on our health now. Health apps, which often go alongside those fitness gadgets, can keep a track of your fitness and your sleep. In addition, there’s stress and blood pressure monitoring to try and keep an eye on your mental health.

In recent months we’ve also seen apps which include chatbots to help you change your lifestyle. There’s also a medically approved home brain stimulation treatment for depression. This comes with an app to help control depressed eating habits – something that affects 300 million people worldwide.

When you add this technology into the insurance market, the blood pressure, heart rate and

medication intake can be valuable when used with health insurance apps. The millennials now would appreciate health apps that would go beyond tracking their blood pressure, calories, pulse rate, steps, heart rate, and sleep period, etc.

To live up to customer’s demands in 2020 a health insurance app should be able to:

  • Produce readable and accurate data
  • Maintain a comprehensive record of the health data
  • Suggest ways to improve their health indexes
  • Provide a comparison of health determinants  with the standards
  • Showcase statistical analysis of consumer’s indicators

And as per the Statista report, by 2021 the total global mHealth market is expected to reach nearly 

100 billion USD. It will actually be a 5 times increase from 21 billion USD in 2016. 

(Source: Statista)

Below are some of the top mobile health insurance app trends that are going to bring a revolutionary change in the healthcare business.

  1. Cloud-Based Health Insurance Apps

    The use of cloud-based health apps gives hospitals easier access to medical records and visits. Moreover, cloud computing will automate the mobile health industry and make it more accessible.

Smart Integrating Electronic Health Records (EHR) with cloud-based medical solutions will ensure e-sharing of medical records, patient files, data, and checking of e-prescription.

  1. Artificial Intelligence in the mHealth Industry

Artificial Intelligence based health insurance applications are going to give a 180 degree turn to the health insurance sector. AI enabled mhealth apps will reduce the clinic visits and medical costs significantly in the time to come. In the past we’ve seen video consultations with doctors via smartphone, but the addition of AI can push things further.

Given that there is going to be an exponential increase in the AI empowered health apps, we’ll soon see some major breakthroughs in the healthcare industry such as AI powered surgeries and the medical screening of patients to name a few.

Investments have already started in AI based health insurance apps – soon it is going to bridge the existing gap between conventional medical service and tech health care services.

  1. Big Data Enabled mHealth Apps

In 2017, there were nearly 3.7 billion mobile health app downloads as per the Statista report. And the number is increasing every year.

It’s quite possible that this year we will see the integration of Big Data and Analytics in mobile health applications to easily manage the endless data including hospital transactions, medicines, as well as health insurance records.

Electronic health record facility (EHR) will allow patients to maintain their own digital records including lab reports, medical records, etc. Moreover, doctors can use EHR to check if the patients were following the treatment.

EHR enabled mHealth apps can be used to keep a track of medical history, medication list, medical instructions, diagnostic tests, and treatment related instructions.

These are just some of the top digital mhealth trends that will start to change the global healthcare industry in 2020 and will continue to do so.

One thing is for sure, mobile health apps will continue to make breakthroughs in the healthcare industry, especially in the health insurance sector. More and more health insurance companies will be embracing digitalization to meet the evolving needs of the customers.