IIC Journal of Innovation 4th Edition | Page 16

How IoT Can Significanlty Improve Healthcare in the Context of Smart City The ultimate goal of Smart City healthcare is to increase quality and reach, while making it more affordable. The Internet of Things (IoT) powered by Digital 5 forces (i.e. Mobility, Big Data, Cloud, Social and Robotics & Artificial Intelligence (AI)), is transforming these challenges into opportunities. As per Frost & Sullivan, Smart City healthcare is anticipated to create business opportunities with a market value of $220 Billion by 2020 2 . I NTRODUCTION Smart cities are parameterized based on several evaluation criteria(s), which differs across global agencies. ISO being one such global agency enacted ISO 37120 Smart City standard, which defines a common performance yardstick for cities. Healthcare is one key Smart City criteria, identified under this standard, with 7 healthcare indicators such as Number of In-patient hospital beds, Physicians, Nursing personnel per 100,000 population, Average life expectancy, Under age 5 mortality per 1K births, Suicide rate per 100K population and Mental health practitioners per 100K population 1 . For our discussion, we would focus on first three indicators. This paper focuses on addressing these three challenges by leveraging digital technologies best suited for different scenarios, enabling a city’s administration to increase their healthcare ratings and strengthen their bid to be acknowledged as a Smart City. Similarly, as per International Telecommunications Union (ITU), Usage rate of electronic medical records and Sharing rate of resource and information among hospitals are recognized as key crit eria for Smart City health. In the current landscape, majorly there are three major challenges in achieving Smart City healthcare targets: C HALLENGES Below are some key challenges, which the healthcare industry is currently facing: o Year over Year increase in healthcare infrastructure cost – In order to improve the healthcare services, Smart City administrations have been spending significantly in associated infrastructure (i.e., number of beds, medical equipment, etc.). For a developing nation like India, supporting a fifth of world population, the growth in average hospitalization costs annually is over 10% 3 . This burden is being passed on to patients and payers. A major chunk of hospital beds are occupied by patients 1. Continuous year over year increases in healthcare cost, 2. The widening gap between required and available medical workforce, and 3. The lack of capabilities to share centrally available clinical data in real time. 1 http://smartcitiescouncil.com/article/dissecting-iso-37120-how-healthy-your-city-and-what-zip-codes-have-do-it 2 http://www.egr.msu.edu/~aesc310-web/resources/SmartCities/Smart%20City%20Market%20Report%202.pdf 3http://www.livemint.com/Opinion/DSH1OnDr2LG0zAcHhl29XJ/The-growing-burden-of-healthcare-costs.html IIC Journal of Innovation 15