Digital SWOT Analysis

Assignment 1 – Digital SWOT Analysis
HealthCare Industry
Strengths
1. Healthcare is an emerging industry for Digital Transformation as it is primarily a data-

based industry. The easy accessibility of patient records, medical reports, etale medicines,
AI based medical devices provide a ready use case for big time Digital Transformation.
2. Patients rely on online medical information to research about doctors, hospital and
medical centers and to book appointments.
3. Healthcare industry is governed by processes and regulations. Some of these processes
are easy to automate and integrate.
4. Big Data is everywhere. The large amount of data can be easily used for trend analysis
and predictive and prescriptive analytics. For healthcare, big data can provide several
benefits such as lower rate of errors due to incorrect medicine/ dosage, preventive care,
facility management at the hospitals.
Weaknesses
1. The healthcare market is highly regulated with compliances and laws being different for
every country. Thus, building a global system that works across the geographies is
difficult.
2. For the same reason, there are a lot of privacy regulations that debar organizations from
using patient’s data. For example, HIPAA laws in USA do now allow medical companies to
use doctor’s prescriptions for marketing of medicines or healthcare products and
equipment.
3. The healthcare industry is complex. There is no one formula that fits all. The healthcare
plans, different options of medical care, importance of personal connect with the
patients, always make it difficult to provide a holistic digital system accessible and useful
for the patients.
4. There is an increased risk of litigations and legal issues with an automated digital system
gone wrong. It is therefore critical to build a robust and accurate system.
5. Lack of integration between different and diverse systems and lack of standardization
across different healthcare organizations provides another challenge for digital
transformation. For example, the electronic medical records of one hospital are not
accepted by another hospital.
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Opportunities
1. Mobility is the name of the game and with easy access to healthcare data available from
health and nutrition apps, health and fitness centers, digital marketing for specific
consumer persona is possible.
2. On demand healthcare is on the rise. The consumers now want healthcare access at their
own convenience, on their own time and wherever they are located. With online systems,
it is possible to provide consumers with instant appointments, access to medical reports,
ordering medicine online and have the medical history available at their fingertips.
3. The advent of Virtual Reality can make virtual patient care possible. With a variety of VR
applications, it can transform the way the patients are treated. VR provides safer option
to patients as compared to drugs and for pain management. The doctors can use VR to
improve their skills or plan surgeries. VR headsets can be used to help patients exercise
and help children with autism to navigate.
4. Earlier the patients were satisfied with “once a year” health check at the hospitals it now
Wearable medical devices enable the patients and hospitals to check the health status
round the clock and in real time. This can enable them to take quick preventive measures.
5. The healthcare payer companies can use data from wearable devices, electronic medical
records, social media, test centers to use targeted insurance pricing.
6. Artificial Intelligence can provide an excellent support like in any other domain by using
Chatpods for customer care and virtual health assistants for common ailments. The real
power of AI comes in research where it is already being used for medical imaging, Cancer
research and Genomics.
7. An ecommerce like portal can be made available to consumers to select, compare and
purchase health plans, medicines, and personalized health equipment.
Threats
1. Legal compliances pose the biggest threat to the healthcare industry undergoing digital
transformation. A slight glitch or data breach of patient’s personal information can lead
the healthcare companies into big financial trouble or even business closure.
2. Cost is another factor that can be detrimental to organizations undergoing a full digital
transformation. The companies would incur huge costs in integrating sophisticated
medical systems, equipment, complex data arising from different platforms.
3. Lack of patient trust can make the systems difficult to adopt for the consumers. Since the
information is provided online, the patients can be skeptic about using the services.
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Assignment 1 – Digital SWOT Analysis

1. Healthcare is an emerging industry for Digital Transformation as it is primarily a data-

Postgraduate Diploma in Digital Business Page 1 of 2

Postgraduate Diploma in Digital Business Page 2 of 2

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