Author: Sarah Lent
Published April 24, 2024
“The latest wave of new technologies is transforming nearly every industry and business. Now healthcare companies are being forced to address that revolution, which promises vast benefits but also disruption and uncertainty in the marketplace. Will brand marketers be up for the challenge?”
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“Disrupting Healthcare—And How We Market It
Harnessed correctly, rapidly developing technologies like AI, AR, VR and the blockchain will enable healthcare systems and professionals to replace manual procedures, speed up accurate diagnoses and make better use of crucial data, creating entirely new ways to deliver care. Already, AI is being used to help providers analyze radiology images and to design more capable, automated diagnostic and treatment systems. Patient-worn sensors that detect blood sugar levels, unusual heartbeats or other warning signs are making predictive health a reality. It’s no wonder the worldwide AI healthcare market is projected to be worth almost $188 billion in 2030, up from $11 billion in 2021.The video player is currently playing an ad.
VR will disrupt the healthcare industry, too. It is already being used as an immersive tool for pain management and has an enormous range of potential applications. In 2021, the U.S. Food and Drug Administration authorized the marketing of a prescription VR device to help address chronic lower back pain. It’s also being used to help ease pain during labor and after cancer treatment or surgery.”
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“What actions will you need to take as a marketer to bring stakeholders along with you?
• Establish your brand’s long-term vision within the future of healthcare.
• Create transparency about the ways new technologies are being used.
• Communicate consistently in a way that’s personalized and relevant to key stakeholders.
• Build relationships with key audiences.
• Deliver on promises made.
Overcoming The Challenge Of Capturing Trust
Every aspect of the healthcare marketplace is becoming more dynamic and crowded with innovators. Giants like GE, which spun off GE HealthCare as a stand-alone company last year, and Philips, which is embracing a more focused strategy around AI and health tech, are facing new entrants such as Merative, the medtech company formed from the data assets of IBM’s Watson Health. Amazon, CVS and many others are looking to healthcare technology as a lucrative market.
All of this will challenge marketers. You will have to establish trust in the technologies that will enhance—not replace—relationships between companies and their audiences. As you help to promote the next generation of care, you will have to confront the wariness that comes with the territory of new technology, whether that’s related to the potential for inherent bias in AI or the need for strict data privacy protections.
As the healthcare system and other industries undergo generational change, there’s a real opportunity for you and your partners to showcase what you can do best: Create human-centered, brand-led ideas that build understanding and trust. By understanding the potential, you can help lead the change, enabling your company to be the leader in defining new and better human care for tomorrow” (Lent, 2024).
Main players in the healthcare marketing game are concerned about falling behind. And new players are entering the game because of new technology allowing the space for them to fill in untapped markets. One big factor is AI. By using a AI to personalize healthcare, companies are able to empathize and market directly to their customer.
The key to being successful in these markets is establishing trust. Building concrete relationships if trust with the consumers only leads to more sales and better outcomes. Everyone wins if the trust is honest. The consumer feels good about the products/services they are buying and are more open to the new technologies that are unfamiliar and possibly scary. When thinking about creating a medical device in my capstone, trust is something I need to think about. Creating a bridge of trust from the get go will advance my design’s realism. Trust can be built in the design’s form, the marketing, the packaging, the user journeys, the scientific data and many other places. Trust is an important inclusion that is crucial for my healthcare design.
Reference
Lent, S. (2024, August 13). Council post: Technology is changing the game in healthcare-marketers must change with it. Forbes. https://www.forbes.com/councils/forbesagencycouncil/2024/04/24/technology-is-changing-the-game-in-healthcare-marketers-must-change-with-it/
