In our last blog post, (a peek at the future of healthcare) we considered the key drivers behind innovation in the health care industry. Telehealth has seen explosive market growth in recent years and shows no sign of slowing down. Despite its enormous potential for growth, the healthcare industry faces regulatory challenges that impede innovation.
Since the 1996 introduction of HIPAA, (Health Insurance Portability and Accountability Act), the healthcare industry has become highly regulated. The scope and complexity of healthcare regulation has made it incredibly difficult for organizations to adopt new technologies. Compared to other industries, they have been relatively slow to adopt technological innovations as a result. This trend has manifested itself in the adoption of the public cloud, BYOD (Bring Your Own Device), and even the storage of online health records. With this in mind, one can assume this trend will repeat itself when it comes to browser based real time communications powered by WebRTC.
Today, it is easier than ever to get involved in real-time communications, using WebRTC. For those considering investing in a mobile strategy, the technology ecosystem has never been more ripe for rapidly integrating WebRTC into your application, or even starting a project afresh. Using existing build tools like Cocoapods to get started quickly with the OpenTok iOS SDK, and the new CallKit framework introduced in iOS 10, now is the best time to jump in and start building.
When you think about the hottest startup or innovation sectors, one may naturally think of artificial intelligence, Cloud computing or robotics. And you wouldn’t be wrong. But one you might be surprised to hear is right up the top of that list is Health, and specifically on demand health.
In a revealing study by Accenture, covered in this Forbes article, the growth of the on-demand health sector is second only to ride-sharing when it comes to attracting investment. Investment in on-demand health services is projected to reach $1 billion in 2017, up from only $200 million in 2014. According to Accenture, “healthcare is the fastest growing on-demand sector , representing one-sixth of total U.S. funding from 2010 to 2014.”
As global access to the internet continues to grow we find ourselves in an increasingly connected world. Never in our collective history have so many people had the ability to access so much information about what is going on in the world around them. This has led to an unprecedented rise in engagement with current events, especially amongst the young people whose voracious appetite to rant, debate and ‘be heard’ has fueled the emergence of so many social media platforms.
Why traditional broadcasters need to adapt, fast
Cable companies and television networks can’t take a trick at the moment. As if digital disruption and cord cutting wasn’t making life tough enough, now comes the rise of participatory broadcasting, the phenomena where viewers collaboratively interact while consuming content, and maybe even participate.
Still coming to grips with on demand and online/mobile viewing, traditional broadcasters must now find a way to provide immersive and engaging viewer experiences to compete with the likes of Facebook Live, Meerkat and Periscope.
We all have a fascination with the billion dollar startups. Venture Capitalists try and identify them early, media laud them (or bring them down to earth), and early adopters claim discovery. One new technology innovation has the potential to spark the creation of more billion dollar companies, and markets are starting to pay attention. So what is WebRTC, and why is there so much interest?
It begins with recognizing the emergence of two massive trends. The first is the increasing appetite for ‘on demand’. This is evident in everything from movies to car rides, hotels, relationships to groceries to well, everything. And communications is a core part of this, just look at Meerkat and Twitter’s latest acquisition, Periscope, bringing
Lately, we have been thinking and talking about broadcast in multimedia. By now, you might have seen that TokBox is powering applications that go beyond the contemporary one-to-one and small group settings that are typically associated with the current generation of WebRTC apps, to a much larger scale of hundreds or even thousands of people watching and participating in the conversation. At a glance, this might not sound particularly groundbreaking; video has been distributed to large audiences for years. However, a closer look is necessary: with a shift in the underlying technology, TokBox adds the option of real-time communication to the existing large-audience reach of broadcast video, to enable a whole new class of applications.
As behavior changes and as technology continues to transform the financial services industry, it is no surprise that bank branches are closing. Analysts suggest that the number of bank branches open in the US could be cut by within the next decade. This is to be expected as more and more of what we do as customers is online. According to research conducted by Accenture customers engage with their banks an average of 17 times a month, but only two of those interactions involve human contact.
“The big decision we made was to shift a lot of our video efforts to focus on Live, because it is this emerging new format; not the kind of videos that have been online for the past five or ten years” (Mark Zuckerberg, BuzzFeed)
This week Facebook introduced a suite of new add-ons to its Live feature that allows users to live-stream video. When Facebook announces a new feature, the world usually listens, or in this case watches. In the few months since Facebook Live was launched millions of live streams have been produced and subscribed to, from celebrities to chefs to everyday users.
Over the last couple of years, we’ve seen a huge number of innovative organizations across many verticals integrating real time communications into their websites, apps or devices to create new forms of communication and collaboration. Healthcare and, more specifically, telehealth is an industry in which we have seen a considerable amount of innovation.
We know that the global Telehealth landscape is rapidly changing and will continue to experience significant growth in the next few years. The US will be in the forefront of this shift with a projected annual growth rate of 56%.