Digital Transformation: The Next Big Leap in Healthcare

Telehealth, virtual care, and wearable devices were embraced over the course of the pandemic to meet the demand for distance health, but moving forward, they have the potential to improve access to healthcare and lower costs for patients in rural and remote areas. [...] Included is the impact of centralized health records on data management and patient access to data; the growth of telehealth services over the course of the pandemic; the use of wearables, sensors, and cloud technology in-patient monitoring; and the use big data, ML, and AI for drug discovery and clinician support. [...] In recent years, its focus has expanded to include “the promotion of health lifestyles and the role of non-medical determinants of health.”53 Public health emergencies: The use of big data to detect and respond to public health emergencies like disease outbreaks. [...] Digital Transformation: The Next Big Leap in Healthcare www.ictc-ctic.ca 29 Insights into Canada’s Health Spending 15 Location of Headquarters In terms of headq1u2arters, the companies in the dataset are primarily located in Canada (94%) and the United States (4%), with a handful of companies headquartered in E9urope, the United Kingdom, Middle East, South America, and Asia. [...] Meanwhile, a lower percentage of the pharmaceutical and biotechnology companies were privately held with financial backing (27%) as compared with the remaining industry types: 77% of the healthcare devices and supplies companies were privately held companies with financial backing, compared with 63% of the healthcare technology systems, and 60% of the software companies.69 Health Technology Compan.