Zoomtopie 2021 | Digital healthcare and financial services
At the recent Zoomtopia event, the company touted its ability to power digital healthcare and financial services.
Zoom already integrates with popular electronic health record (EHR) systems, such as Epic. This allowed the company to quickly transition to telehealth at the onset of COVID-19. People were comfortable using Zoom to video chat with family, friends and colleagues, so the transition went fairly smoothly when it came to providing virtual patient care via Zoom, Bill Shickolovich, the company’s CIO healthcare advisor, said during remarks. address to Zoomtopia Event.
While physicians have returned to in-person visits, patients want to retain some aspect of convenience with remote care. This means that healthcare organizations need to rethink how and why they deliver patient care. Some questions to consider, according to Shickolovich, is the visit necessary for diagnostic purposes? Is it a follow-up? Is it a clinical assessment that cannot be virtualized? Is it a meeting with a care coordinator?
âWe need to advance digital transformation in healthcare. We need to consider the communication needs within the continuum of care and determine where the opportunity lies for improving engagement, âHeidi West, Zoom Healthcare Manager, told the conference. focused on Zoom’s vision for healthcare as the world adapts to a new normal.
Virtual care is evolving to be fully digital
One way to move forward is to think of virtual care as more than just a video tour. Virtual care is about helping people manage their illness at home and providing follow-up care after a patient is discharged from a hospital. It’s about having a mobile doctor who can âseeâ patients anywhere in the world, at any time. It’s about bridging the digital divide and delivering care to people through affordable technology.
Patients must become the center of care, from coordinating virtual appointments to engaging with family members and the specialties that determine treatment. That’s why Zoom is determined to break down the communication silos that exist in healthcare today, West said. Specifically, the company is focused on providing value-based care and reducing the rising costs of healthcare.
With a traditional model of care, there is too much emphasis on billing for services. However, a value-based model of care centers on collaboration and sharing of results to give patients better outcomes. The key is to make this model sustainable enough to convert both patients (convenience) and providers (benefit).
Artificial intelligence plays a key role in digital health
Artificial intelligence (AI) is a technology that can accelerate value-based care without complicating an already complex delivery system, said Ash Damle, co-founder of Healiom, a healthcare logistics startup.
Its platform connects patients via Zoom to doctors in less than 10 minutes by relying on a network of specialists and AI. Each patient is assessed and screened by Healiom’s AI engine, Holmes, and two walk-in specialists.
âWe take data and apply AI, taking into account a patient’s medical history, vital signs and other aspects. So we can figure out what’s going on, who they need to see, how fast. It’s an amazing opportunity that we have today in healthcare, âsaid Damle.
In the future, platforms like Healiom could provide patients with instant access to healthcare using pre-visit and post-visit logistics. Pre-visit logistics involve device-less screening via video and audio. Healthcare providers can use conversational triage AI to collect details about a patient’s symptoms, including real-time vital signs (pulse rate, respiration, oxygenation). Post-visit logistics involve data-enabled follow-ups to ensure patients are receiving appropriate care.
This type of innovation is likely to cause organizations to become more comfortable disrupting the traditional healthcare experience.
Understanding the future of digital financial services
The transformation of financial services has been fascinating to watch as it is one of the verticals that has resisted moving many parts of its business to a virtual model, but the pandemic forced it.
Prior to becoming an analyst, I spent many years doing business IT for financial services companies, and while we were aggressive in adopting most technologies, most companies tended to be cautious about where employees work and how customers interact. It’s nice to see financial businesses change, even though it was due to a pandemic.
The future of financial services will be hybrid
The future will be hybrid, said Zoom’s global CIO Harry Moseley during a session focused on financial services at the Zoomtopie conference earlier this month. Gone are the days of being in the office five days a week. The pandemic has illustrated that people can work efficiently from anywhere. As many return to the office, organizations develop hybrid work strategies, which will vary widely for each business.
“The companies that have created hybrid work models, understand collaboration technologies and plan for the future, are likely to be the most successful companies in this post-pandemic world,” added Gary Sorrentino, global vice director of technology at Zoom information. âThere is a new work-life balance. Employees are leaving companies that are unwilling to meet their new demands and demands. “
As was the case with other industries, financial services companies adopted video applications out of necessity early in the pandemic. Now in a hybrid work environment, companies continue to use apps like Zoom for a variety of reasons, which Moseley and Sorrentino shared at Zoomtopia.
Employee experience drives hybrid work
The first reason is a better employee experience. The way employees connected, collaborated and communicated was drastically different before COVID-19. Investment bankers would fly overseas, just to meet with a client for a few hours. Days were spent scheduling face-to-face meetings and carrying boxes of documents to clients.
Today, every client / partner / colleague is a video call away across borders and time zones. This is a great example of my previous comments that financial services are slow to change until they are forced to.
As businesses become more comfortable with video, a key area of ââfocus will be the centers of workplace productivity, Sorrentino said. A workspace hub is a tool that keeps information shared during meetings, whether in chat or on screen, so teams can collaborate continuously and asynchronously. Ongoing collaboration is important to keep teams productive, no matter where they work.
Video changes customer expectations in financial services
The second reason is improved customer engagement. Customer engagement is evolving where existing applications, such as financial advice, mortgages, customer portals, are upgraded with video. In addition, new applications are developed with embedded video to facilitate frictionless interaction with customers.
âThe future of customer engagement is to extend the reach and leverage the entire UC stack in these emerging applications. We’re going to see the video everywhere, âMoseley said.
The third reason is digital transformation. The video is no longer a “good to have”, but is now expected by default, according to Sorrentino. Whereas in the past, the business-critical technology was a desk phone and the business-critical application was email. Video on desktops and in conference rooms was difficult to use, often requiring help from technical support. Sharing content was also difficult using various platforms that had interoperability issues.
To date, around 90% of all conference rooms in the world are still not equipped with video. But that is changing. Some companies take large conference spaces and break them down to create smaller meeting rooms. Whenever a large meeting takes place, multiple rooms can be connected by video. It’s a new way of working in a post-COVID-19 world.
Video is also transforming the consumer experience. Soon there will be video-enabled ATMs and financial terminals, allowing customers to chat with cashiers and financial experts remotely. There will also be video enhanced mobile banking services. This will allow for a more personalized interaction between financial services companies and clients, where they will be able to see facial expressions and read non-verbal cues. Financial transactions, investment banking, asset management and retail banking will all rely on video tools.