The Netflix Effect in the Healthcare Industry!

Netflix Effect

Healthcare logistics is moving towards an approach that involves more technology and data to bring revolutionary changes in the industry. Just like the Netflix effect – the corporation that has changed the way we engage in daily entertainment, the healthcare sector is set to use data to its advantage.

This can bring a welcome change and make healthcare services more optimized to tackle the ongoing pandemic and other healthcare challenges

It is truly marvelous to experience how companies like Netflix can predict recommendations for the user based on their exact preference. It is all a wonder of data analytics. The data that the app collects from the user and some artificial intelligence allows it to predict user demand correctly.

With a similar model in the healthcare industry, a lot of changes can be made. Some of the many amazing benefits this shift can bring involve predicting better demand for medical services and products. In the world that we’re living in right now, with the pandemic and all, this updated model within the Healthcare Industry can bring in the much-anticipated change. 

Netflix Effect

Today, hospitals and other medical facilities cannot continue to operate the way they did a few years ago. With an increased demand for streamlined healthcare facilities, the need for change in operations for the industry is also being recognized.

The current circumstances demand collaboration between technology and data to influence the way this industry operates. But how will it work? I’m here to tell you. 

Predicting Demand Through Data 

Data is responsible for improving the user experience in various spheres today. From Meta to Netflix, and Google – everyone is using data to transform the way you experience things. The healthcare industry also already uses customer data; the only thing that needs to change is the way it uses it. Data can help a lot with better decision-making, but a secondary requirement for that is high technology like artificial intelligence that analyses this data. 

Here are some of the aspects that data can help within the healthcare industry –

  • Identify exact possible supply shortage – Data can help identify the areas where supply is likely to be short, and by what quantity. Healthcare product manufacturers can use this information to balance the supply adequately. 
  • Improved supply chain network – The supply chain network can become more efficient with the use of modern technological advancements. When information is easily reaching across the various channels of the supply chain network, it is bound to improve.  
  • Identifying the leakages and helping fix them – Identifying the leakages in the exact areas and fixing them will become more doable. 
  • Predicting hospital capacity – In the times that we’re living in, this could be a saving grace. Data can be used to forewarn people of hospital beds filling up so they can look for suitable alternatives. 

All these predictive aspects are necessary to keep the healthcare industry optimized. 

Tech-Based Logistics to Make Healthcare Solutions Accessible

The next imperative demand for the healthcare industry in current times is tech-based logistics. The logistics for healthcare supplies have always been challenging. Since a lot of healthcare supplies are temperature sensitive, they require special vehicles to be carried in. 

AWL India has a fleet of vehicles that can carry medical supplies while keeping them in their best condition. Failing to fulfill these prerequisites can result in a number of disastrous outcomes like the medical supply getting damaged, or the delivery getting late at a time it should not. 

Combining Data Analytics & Tech-Based Logistics 

When the logistics provider for the healthcare industry uses the power of data analytics, it can result in significant changes in the way the healthcare industry’s supply chain is managed.

Just how Netflix uses data to predict user preference, the healthcare industry could apply a similar predictive model to improve the functioning of the industry. With the third wave of the pandemic just in sight, it could help predict the locations where the PPE kits are required more, where the Vaccines are needed more, and so on.

It will also help in keeping up to date with the real-time inventory, and demand forecasting.  Data analytics and tech-based logistics together can bring the Netflix effect in motion in the healthcare industry. 

Combining data and tech-based logistics could bring the change the healthcare industry desperately needs. It will not only bring significant results in terms of how the demand for the supplies is being met but also make it easier for the providers and suppliers to deal with the operations in the most optimized manner possible.

Netflix Effect article and permission to publish here provided by Rituraj Pankaj. Originally written for Supply Chain Game Changer and published on January 26, 2022.