10%

Try : Insurtech, Application Development

Edtech(5)

Events(32)

Interviews(10)

Life@mantra(10)

Logistics(1)

Strategy(14)

Testing(8)

Android(43)

Backend(28)

Dev Ops(2)

Enterprise Solution(20)

Frontend(28)

iOS(39)

Javascript(13)

AI in Insurance(28)

Insurtech(58)

Product Innovation(36)

Solutions(15)

Augmented Reality(7)

Customer Journey(7)

Design(6)

User Experience(21)

E-health(3)

HealthTech(5)

mHealth(3)

Telehealth Care(1)

Artificial Intelligence(96)

Bitcoin(7)

Blockchain(14)

Cognitive Computing(7)

Computer Vision(6)

Data Science(14)

FinTech(41)

Intelligent Automation(25)

Machine Learning(43)

Natural Language Processing(10)

Everything-as-a-Service

We are now living in the age of hyper-convenience, and the market for convenience (as-a-service) is soaring. For the better half of the last ten years, we have swiftly passed into the ‘as-a-service’ economy. The globalization of labour, highly disruptive business models and rapid consumerization have made the transition nearly inevitable. 

The heightened experience of ‘utility’ extends to both consumers and even businesses. From hailing a taxi or buying groceries to quick entertainment and daily productivity tools, everything is/can be made available as-a-service. So how did XaaS get to this point? — where it’s now the preferred operating model of choice for delivering any IT function as a service for consumption.

The ‘as-a-service’ concept is universally understood to be an analogue of cloud computing. It is predicted to be valued at nearly $344B by 2024, growing at 24% over the next five years.

The approach has been around since the ‘60s when SaaS quickly replaced the older ASP (Application System Provider) model. The real reason the ASP model failed? It wasn’t scalable. Gone are the days of buying licensed software products and lengthy on-site installation processes. In contrast, with SaaS, enterprises can buy and pay for what they use. By taking advantage of virtualization and cloud-based scalability — users access the same code base, while their data and customized interfaces are kept separate.


Traditional approach of On Premise IT Vs Saas


Towards the close of the millennium, Salesforce built the very first complete SaaS product, which is still today — one of the World’s most widely used customer relationship management (CRM) tools. 

Over the next ten years, SaaS quickly decentralized into Desktop; Data; Network; Security; Infrastructure; and Platform-as-a-service. Today, any core business function can be delivered through this model, such as Marketing, Banking, Healthcare, Appliances and Gaming among many others. 

Consumers, in the meantime, have become increasingly familiar with ‘use without ownership’ type of products including movies-as-a-service (Netflix, Hulu); communication-as-a-service (Whatsapp, Snapchat)

While companies like Uber & Grab have leveraged ‘service-as-a-product’ effectively — shifting the balance from car ownership to transportation-as-a-service; others like Joule have moved towards outcome-based pricing where users can subscribe to cars without any time limit.

The essence of XaaS is simply delivering a service over the Internet, rather than on-site. The most efficient way to do this is through the cloud. Being more cheaper and efficient, the cloud services model witnessed mainstream adoption only within the last decade. The real advantage stays the ability for companies to wholly deliver a one-click operation for the end-user. 

Tesla has already disrupted the automobile industry with its radical as-a-service concept: upgrade your car (software) for free, for life! Tesla is also planning to shift to pay-as-you-use models including autonomously renting out your car when you are on holiday. 

Consumers easily get behind this technology because it reduces any ownership risk and encourages more users to try these services at affordable and competitive pricing. This is how and why we have pizza-as-a-service today! Hence XaaS. 

How does XaaS help your business?

How does XaaS help your business?


There are currently over 5.6 million professional and creative services companies in operation around the world. Technology is constantly evolving the state of how we do business, and the operating models we use today will have to adapt to innovations that disrupt tomorrow.

The Real Impact of XaaS

  1. The Cloud has moved beyond the “hype” realm into a digital must-have for any enterprise. Regardless of the size of the business, the cloud is your best bet for maximum scalability and mobility.

  2. One-to-many is now a customizable relationship, thanks to XaaS models that help you deploy services with precision and speed.

  3. Agile enablement calls for being nimble across software delivery. Create business value through incremental, sustainable, and measurable agility.

  4. Plug and Play allows for maximizing combined services, greater efficiency gains, and uptime — giving your business the autonomy to use services as and when you need.

  5. Resource & Cost-lax operations reduce major overheads by 3-5X by leveraging the right consumption-based models.

The move away from legacy business mechanisms, ties to the resource-intensive effort of shifting from selling products to selling capabilities. If the front office and back office aren’t aligned, the business will struggle to move forward.

Enterprises are increasingly looking to achieve results through as-a-service models—using hybrid delivery—that can be explicitly configured to deliver critical business outcomes in a short turnaround time. 

Talk to us today to learn how we are helping enterprises operate successfully in the digital world. Drop us a line here hello@mantralabsglobal.com   

Cancel

Knowledge thats worth delivered in your inbox

What will ‘Behavioural Changes’ Mean for India’s Digital Health Future

We are in the middle of a global pandemic, facing a threat unlike one never seen before. COVID-19 has been a reason for global concern since it has negatively impacted economies, shut down workplaces, and forced cities into lockdowns.

But history also tells us  that times of uncertainty also foster innovation. The pandemic has forced consumers and businesses to rethink how they behave both physically and digitally. As per McKinsey, COVID-19 has speeded up the adoption of digital technologies.

India, which was on the cusp of a ‘digital health’ revolution, has now been forced to embrace innovation and emerging trends. The healthcare sector holds great promise since new-age technologies like telemedicine, robotics, artificial intelligence (AI), genomics, etc. are transforming healthcare services.

There have been unprecedented changes in consumer behaviour as well. People are now increasingly relying on using the internet to find clinical information or engage with healthcare professionals digitally. Moreover, online consultations, telemedicine, and e-pharmacies have seen a rise in popularity.

Companies will thus need to capitalize on the changing patterns of consumption and health-seeking behaviour.

This article focuses on how changing patient behaviour will affect India’s digital health future.

A growing Indian healthcare market

According to a report by Future Health Index, India is a leader in the adoption of digital health technology. As per India Brand Equity Foundation (IBEF), the Indian healthcare market is expected to grow at a compound annual growth rate of 22% to reach a valuation of USD 372 billion by 2022. This growth can be attributed to the following –

  • Growing health awareness
  • Aging population
  • Lifestyle-related diseases
  • Rising income levels
  • Growth of internet availability

The rise of digital health start-ups is also playing a role in the growth of the healthcare sector. Indian health tech startup landscape has now matured.

Over the last few years, telemedicine has emerged as a fast-growing sector in India. Prominent start-ups like Practo, mfine, and Lybrate have established themselves in the telehealth market. McKinsey estimates that India could save up to USD10 billion by 2025 by using telemedicine instead of in-person doctor appointments.

COVID-induced behavioural changes

The COVID-19 pandemic has brought about changes to patient behaviour. The fear of leaving homes to get treatment has led to the growth of virtual care and telemedicine. 

As per a report by Accenture, almost 70% of the patients canceled or postponed their treatments due to the COVID-19 pandemic. Technology, therefore, played a crucial role in helping patients continue their care. Healthcare providers were even able to improve the experience for patients by delivering them faster response time, personalized interactions, and the convenience of getting consultation from home.

The same report by Accenture highlights some key behavioural changes that are being observed in patients – 

  • Nearly half of the patients now get their treatment at their homes instead of visiting a clinic.
  • Almost 60% of patients want to continue using technology for communicating with healthcare providers.
  • About 41% of patients now use video conferencing to connect with their healthcare providers. Of these, for almost 70% of patients, it’s their first-time using video conferencing for healthcare.
  • Almost 44% of patients used new apps or devices during the pandemic to manage their health conditions.

All this highlights the need for healthcare providers to reimagine their patient engagement strategies in keeping with the changing patient behavior.

Future of digital health in India

New digital technologies and tools are making an impact across the healthcare sector. They hold great promise in improving the efficiency of healthcare services while delivering better patient care. Below are some of the technological developments that are expected to revolutionize the way we seek healthcare.

Telemedicine

About 68% of India’s population lives in rural areas where healthcare services are not usually up to the mark. This barrier can be overcome by telemedicine that offers an excellent way for patients to consult a doctor in a much shorter duration. Telemedicine can cut waiting times and allow patients to avoid traveling to a clinic or hospital. Some other benefits of telemedicine include –

  • Immediate access to specialist healthcare providers.
  • Cost-effectiveness.
  • Improved quality of care.
  • Convenience to the patients.
  • Improved patient engagement.

Internet of medical things (IoMT)

The rapid growth of IoMT devices is rapidly changing healthcare delivery by playing an important role in tracking and preventing chronic illnesses.

It not only helps eliminate the need for in-person medical visits but also helps reduce costs. Goldman Sachs estimates IoMT to save USD 300 billion annually for the healthcare industry. IoMT will benefit those patients the most who are unable to get access to quality healthcare due to remote location.

Big data in healthcare

There has been dramatic growth in the amount of medical and health data in the last few years. These massive datasets can be used to draw insights and opportunities for healthcare organizations. Analysis of healthcare data can help discover warning signs and create preventive plans.

The widespread adoption of IoT devices also makes it easier to monitor heart rate, blood pressure, etc. This can help in the early detection of diseases like hypertension, asthma, heart problems, etc.

Electronic medical records

Electronic medical records or EMRs help collect, digitalize patients’ information, and store it in a single place. EMRs store various types of medical data like medical history, prescriptions, drug allergies, etc. and allow doctors to make accurate disease prognosis in a much shorter time. Some other benefits of EMRs include – 

  • Effective medical decisions.
  • Easy data recovery.
  • Improved collaboration.
  • Portability.
  • Security of medical data.

Artificial intelligence

Artificial intelligence (AI) has a big role to play in improving healthcare since growing digitization leads to the availability of a large amount of health data. AI has the potential to transform everyday health management in the following ways –

  • Improved accessibility of healthcare services (for example – the AI-based mobile app Ada is available across 140 countries and makes it possible for anyone to have access to medical guidance).
  • Improved efficiency.
  • Accurate disease diagnosis.
  • Improved insights to reveal early disease risks (for example – a popular app Verily can forecast noncontagious and hereditary genetic diseases).
  • Time and cost savings.

mHealth

Mobile health or mHealth refers to the monitoring and sharing of health data via mobile technology like health tracking apps or wearables. 

mHealth apps can prove to be beneficial in increasing patient engagement, providing health education, and offering remote consultations to patients. It can also use the data from wearable devices to improve the quality of care. Some other benefits of mHealth include – 

  • Faster access to physicians.
  • Improved medication adherence.
  • Remote patient monitoring.
  • Increased medication reconciliation accuracy.
  • Improved coordination between healthcare providers and patients.

Conclusion

It’s quite clear that COVID-19 has significantly impacted patient behaviour. There has been a growing preference for telehealth and mHealth apps. But all of this has also compelled healthcare organizations to put in more effort in adapting to these behavioural changes. Healthcare providers are opting to rely more on new technologies to continue delivering patient care. A more affordable standard of high-quality care is in the works for India’s digital health future.

Cancel

Knowledge thats worth delivered in your inbox

Loading More Posts ...
Go Top
bot

May i help you?

bot shadow