The healthcare and life sciences industries, fueled by the innovation industry

By Jonathan Itamah

The healthcare and life sciences industry is one of the world’s biggest and most critical industries. It is characterized by both rapid growth and innovation.   

However, the industries attract a set of stringent regulations that vary from country to country to establish best practices for specific markets. 

What are some of the best practices in the healthcare industry?

Over the years, the healthcare and life science industries have become a new frontier for propagating the welfare of human beings and even animals. This has, in turn, resulted in the rise of key industry players and collaborations to move the industry to greater heights, which is large to the tune of technology.

Huge innovations fuel growth. We have seen this in light of the Covid-19 pandemic and beyond. Some of the innovations include:

Artificial intelligence

Artificial intelligence continues to help in various ways. Firstly, it has been instrumental in ensuring the efficiency of radiology tools by reducing or eliminating the need for physical sample tissues. These include CT scanners, X-rays, MRI machines, and so much more advancements beyond these.  

Secondly, it eases the burden of only relying on electronic health records. While recording a patient’s journey is vital in tracking their progress, AIs will now save a user’s time as they are designed to automate more repetitive processes such as order entry and clinical documentation. 

Enhancing the intelligence of medical machines and devices, AIs have the potential to discover when a patient’s condition is deteriorating, sense any other complications, and also detect improvements.  

This is beneficial as it increases efficiencies, benefiting both patients and healthcare providers.

Virtual reality

While virtual reality technologies have existed for over two decades, it is only recently that their full potential in the medical field is being unleashed. The technologies ability to transport users to real-time occurrences also brings with it other exciting and numerous opportunities, such as: 

Helping in physical therapy

According to researchers, employing a gamified approach to patients who have suffered conditions such as stroke and cerebral palsy is highly instrumental in increasing the likelihood of a speedy recovery. 

Reducing anxiety

Let’s face it, going to a hospital for a quick check-up or a major surgery may be a no-brainer, but it often attracts a lot of anxiety. Wearing a VR headset and getting immersed in the real-time world of these technologies will bring the much-needed distraction that will lower your anxiety and pain levels for adults and kids alike. 

Telehealth consultations

The use of telehealth and telemedicine has significantly been on the rise, especially with the outbreak of the Covid-19 pandemic, and facilitated by easy access to the internet and mobile phones. But what significance does innovation add to the table of life? In short, everything. 

Easy access to healthcare

Patients can easily schedule appointments with their primary physicians and more authoritative consults without having to go to their physical locations, saving time and energy and, to be frank, lessening the risks of nosocomial infections. 

Better comfort and convenience

As you can access a specialist virtually, you can easily do so at the liberty of your home or office. This can be essential, especially if you have a busy schedule and don’t have to take time from work.  

Control of viral diseases 

Although the extensive threat of COVID-19 is more manageable, we cannot ignore other potentially deadly diseases. Thus, embracing telehealth services minimizes the risk of spreading viral diseases, which gain traction when an infected person interacts with others in large groups.  

Continuous improvement 

We are seeing new technologies being invented for diseases or enhancements to existing technologies or with technologies and various products.  Technologies such as Butane Hash Oil (BHO) and CO2 extraction make it possible to extract different forms of cannabis other than dry herbs. Today, you can find THC and CBD concentrates, isolates, shatters, waxes, sprays, edibles, capsules and oil, among others. 

Key players in the healthcare and life science industry

Dominant players in the healthcare sector vary widely, although their contribution level varies depending on the country and the policies. However, they include financial institutions like banks, investors, technology experts like developers, and research analysts and scientists. 

What’s your contribution?

Whether you are a seemingly small player or a giant one, everyone has a role to play in advancing healthcare, and we at SZC are determined to help you excel in your role.  

 We can assist you by securing the funds to get your medical devices and other machines, equip your local hospital or private practices, and/or acquire new technologies or businesses. 

How to go about it

Our financing group initially walks with you every step of the way. First, we listen and learn about your business through a client account manager. Next, as starters, we arrange for funds requiring the following post-execution of an NCNDA (not an exhaustive list_. 

• Business Plan with clear executive summary 
• Risk Analysis 
• Use of Funds 
• Repayment plan and exit strategy 
• Management and Board details 
• Technology specifics and appropriate vetting 
• Quotes/etc. valuation as applicable 
• Detailed Financials 

Our global operations guarantee you quick access to us and strengthen our service commitment no matter where you may be. We offer our clients the following services (not exhaustive);  

• Financial Business Advisory services 
• Effective financial solutions through structuring 
• Capital Access through various debt and equity partners 
• Consulting Services 
• Acquisition Financing 
• Debt and or Equity Financing 

Conclusion

In conclusion, it is important to note that the SZC Group is happy to play its part in this critical industry and is eager to talk to you. We are courteous in our approach and candid with you regarding your approach, and we will let you know the path we suggest for you to achieve your goals.