How 5G is Transforming the Healthcare Industry

From facilitating the remote diagnosis of the Covid virus to autonomous driving robots inside the operating room, the advent of 5G networks in healthcare will be one of the best things to happen for the healthcare industry. With its massive connection power and high speed, it has a lot to offer and revolutionize healthcare. 

 

Investments in healthcare technology have increased because of Covid-19. There was a 19% increase in healthcare investments in 2020 when compared with 2019, to the tune of $9.1 billion. According to Gartner, the 5G network infrastructure has risen worldwide by 39% in 2021. 

 

What is 5G?

It is the fifth generation of wireless network technology and is an advanced version of the 4th generation. 1G focused on improving voice quality, 2G did the same, but it also offered consumers the ability to send and receive text messages. 3G was released during the time internet was brought to our phones, 4G was all about data sharing and faster wireless internet connectivity. With 5G networks, we are promised incredibly fast connectivity, extremely low latency, and widespread coverage

 

What is the relevance of 5G in healthcare?

The cost of healthcare is seeing a steep increase, and the Covid-19 pandemic has only added to its woes. Inefficient processes, government policies, aging population, disease incidence, and medical service utilization contribute to the increase in healthcare costs.

 

Some of the biggest technologies in the world such as artificial intelligence (AI), machine learning (ML), IoT, big data, etc, contribute to the development of the healthcare experience for patients. They also help reduce costs for the hospitals. 

 

For example, AI/ML helps in the diagnosis of certain diseases based on the symptoms. Faster communication and a seamless network make telemedicine a reality. But there are problems such as slow network speeds and low latency that don’t help the cause at times. This is where 5G networks can completely change the game for healthcare providers. 

 

While many use cases were explored in healthcare, some of them didn’t meet expectations because of the limitations in the incumbent communication networks. Thanks to features such as low latency, high speed, and fast data transfer rate, 5G will be able to resolve some of the biggest challenges. 

 

What is the need for 5G in healthcare? 

 

  • Better security and reliability:

5G gives secure and more reliable service due to better use of bandwidth and more connection points. Because of this, 5G is able to provide ubiquitous coverage too. For healthcare applications, reliable and timely data transmission is pivotal, especially in areas such as augmented-reality powered robotic surgeries, connected ambulances, remote patient monitoring, and so on. Thanks to 5G’s better privacy protection, advanced encryption protocols, software-defined setup, and authentication framework, the networks are more secure. 

 

  • Helps expand telemedicine:

Market Research Future says that the telemedicine market is expected to grow at a CAGR of 16.5% from 2017 to 2023. The study says that the increased demand is because of government initiatives. For telemedicine to work successfully, it requires a network that offers high-quality video in real-time. Telemedicine is bolstered by the fact that it can enable mobile networks to work seamlessly. Patients who do not often get access to specialists will be able to get proper healthcare because of 5G networks. 

 

  • Connected ambulances:

Connected ambulances help emergency services collect important and real-time information about the patient through sensors, wearables, and streaming HD cameras, while the patient is being taken to a healthcare center. Thanks to this, the healthcare staff have a much better understanding of what the patient requires even before they arrive at the hospital. In serious situations, specialist doctors can even guide the paramedics through certain procedures without having to travel to hospitals. 

 

Connected ambulances cannot be implemented without 5G’s capabilities. Real-time data transfer is pivotal in emergency situations as even minor decisions can have a lot of bearing on patient outcomes. The high bandwidth that 5G offers enables the video to be live-streamed without seeing a dip in quality. Apart from these two, the 5G network’s increased reliability and security make it a must-have for the healthcare industry.

 

  • Video-enabled medication adherence:

Making sure that patients take their prescriptions is a big challenge in the healthcare industry. Patients with chronic diseases will not be able to function properly if they do not take their medicines on time. 5G tackles this problem by connecting pharmacists and care providers directly to the patient to ensure that the medicines are taken on time. 

 

  • Clinical collaboration:

Lengthy wait times to get the correct diagnosis can result in a poor experience for the patient, it can even end up harming them adversely. Most of the time, the doctors will be waiting for the results of tests that are being diagnosed in the same healthcare center. Collaboration and communication become a problem and it slows down the progress of the treatment. 

A healthcare center that has a 5G platform can easily solve this problem as lab technicians will be able to transfer large files without compromising the quality. The 5G platform connects all the devices within the hospital, starting from medical equipment to devices handled by the caregivers, solving the problem of data accessibility.  

 

  • Medical Sensors:

Wearable devices have seen huge strides in adoption as well as an increase in their use cases. A wearable fitness device can monitor your heart rate, skin temperature, ECG, SpO2, sleep cycle, and even your stress levels. With more such technologies facilitating remote patient care and monitoring, the treatment and experience of the patient improve by a huge margin. 

 

Hospitals can even use smartphone cameras to detect melanoma, monitor skin infections, analyze patient injuries, eye problems, etc. The wireless medical sensors can even be used in administering and monitoring medication. 

 

  • Real-time remote monitoring:

With the help of IoT devices, healthcare providers can monitor the data of patients to provide timely and personalized care. It also increases patients’ engagement with their own health. One of the biggest obstacles to the success of remote monitoring is the capacity of networks to handle the data. When the connection is unreliable, the healthcare service providers will not be able to make quick decisions. 

5G enables real-time remote monitoring because of the following reasons: 

  • Increased capacity to handle a number of connected devices per square kilometer
  • Provides greater reliability and security for the connected devices
  • Offers greater mobility 

 

  • AR/VR for the blind:

Those who have poor or zero vision will find it difficult to do day-to-day tasks that are easy for others. With the help of augmented reality (AR) and virtual reality (VR).

headset, or a pair of video streaming glasses, visually challenged people can be connected to a real-time person who will guide them in doing their daily activities. 

 

5G helps AR/VR systems to help the visually challenged at scale because:

  • 5G’s low latency allows the video to be streamlined in real-time, and it is crucial as a light delay might result in mishaps
  • The higher bandwidth that 5G offers allows for higher video quality 
  • Many of the AR/VR activities will happen seamlessly because of the mobility that 5G offers

 

  • Distraction and Rehabilitative Therapy:

AR and VR can also be used extensively in hospitals to offer a better experience for the patients, especially in distraction and rehabilitative therapy. To give an example of how AR/VR can be used in distraction therapy, we can take the example of a patient who has a phobia of needles. The patient can wear the AR/VR headset, they can choose cloud-streamed videos, and they will be transported to a completely different environment. 

 

  •  Better patient-doctor relationship:

To give and receive proper care, the relationship between patients and doctors should be great. Thanks to 5G, the communication between both parties happens seamlessly.  Artificial intelligence and interconnected sensors can analyze the interactions between patients and the staff. With 5G, there will be better outcomes and much more personalized care. Integration of 5G can also increase the access of doctors. With the help of fast data speeds, patients can interact with doctors from afar. Patients wouldn’t have to walk into a hospital for every minor ailment. By using video chats, they can assess which ones require in-hospital visits. 

 

  • Healthcare automation:

Hospitals can leverage the applications, data, and infrastructure that 5G networks will open up to stay a step ahead of their competitors. They can greatly increase their speed, ability to handle complexity, and scale of business operations. Automation plays a huge role in maximizing healthcare value. With the help of 5G, hospitals can automate pivotal business processes and workflows. Potential delays or failures can be detected with the help of predictive analysis before they happen, thereby making them ready for immediate remediation. 

 

  • Telesurgery: 

Telesurgery requires medical information like audio, videos, and images, to be digitized and transmitted wirelessly via telecommunication networks. Telesurgeries are rare because of concerns over internet reliability and infrastructure. The data connection has to be fast if surgeries have to be remotely monitored. There’s good reason to believe that 5G will make telesurgery a possibility. 

 

Conclusion:

The potential of 5G in healthcare is immense, there are many more applications of this technology. It can improve the quality of the care, reduce the care cost, offer a better patient experience, and more. As the use of 5G in healthcare increases, we will see a connected healthcare ecosystem taking shape that will change the way we receive care. Ultimately, this paves way for better healthcare for everyone. 

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Senior Leadership at Researchwire Recognized on IAM Strategy 300, 2021

Co-Founder, Praveen Singh named on the list of The World’s Leading IP Strategists.

 

The IAM Strategy 300 identifies the leading corporate professionals who are from global patent community and were nominated for individuals  inclusion. Only those individuals identified by market sources for their exceptional skill sets and profound insights into patent matters are featured.

Researchwire‘s Co-Founder Praveen Singh, was  recognized and ranked in IAM300 for IP Management and this is a prolific achievements. Researchwire is a family of diverse hi-tech professionals and it makes us proud when our senior  mentor leadership is recognized in a global community of IP professionals in IAM.

We highly appreciate IAM for recognizing our contribution to the domain of patent research, AI, semiconductor reverse engineering, and emerging markets!

As we evolve with the growing need for technology space imbibed with research and automation, we are happy to embark on the journey with the best wishes of all our clients and well-wishers for believing in us.

 

Full interview covered at IAM:  https://www.iam-media.com/survey/strategy-300-global-leaders/2022/article/praveen-singh

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Why is patent due diligence important for your organization?

Hewlett-Packard (HP), the information technology giant, bought Autonomy for $11.1 billion, in 2012. They wanted to move away from computer hardware to computer software and buying Autonomy seemed like the smartest move to make. Inaccurate income statements, balance sheets, cash flows, and footnotes were a part of the due diligence oversight. Within 14 months after the deal, HP sold Autonomy by writing down more than 80% of the purchase price. 

 

If HP had followed the due diligence practices that they regularly did, they shouldn’t have had to write down the value of their purchase. Organizations should be mindful of following due diligence if they don’t want a botched deal. 

 

What is patent due diligence?

The process of carefully analyzing a company’s patent portfolio is called patent due diligence. It audits the quantity and the quality of IP assets owned by or licensed to a company, business, or individual. The assessment also includes how intellectual property is captured and protected by the business. 

IP due diligence is usually performed by a prospective buyer in relation to the IP assets of the target company. It can also be carried out by a company on its own assets in preparation for a business sale or to close a licensing deal. It tells you whether you can monetize your patents through licensing, enforcement or divestment. 

It also helps you assess the infringement risks posed by competitors’ patents or the patents of another business. 

 

Why conduct IP due diligence?

IP assets have become one of the most important assets that businesses could own. Therefore, it is imperative for businesses to understand the following: 

  • The quantity and quality of the IPs with them so that 3rd parties can put a value on them 
  • To identify IP assets that are not being used currently and whose maintenance costs are being unnecessarily paid
  • To assess whether all the IP assets are adequately protected 
  • To ensure that you have all the necessary rights to your IP assets in order
  • To check whether a third party is infringing on your IP rights 

 

When should a patent due diligence be performed? 

 

  • After you receive a Cease and Desist Letter, or a Notice Letter:

A cease and desist letter or notice is usually sent as a warning to infringers about the existence of the patent rights to initiate licensing discussions, enforce their patent rights, or secure the opportunity to collect damages. 

Such letters claim that the accused infringer stop their infringing conduct immediately. If a company receives such letters, it should ensure that they have a strategy in place to respond properly and reduce its risks. 

They should note the depth of the infringement analysis (usually provided by the patent holder). It will have details about the patent expiry date, and applicable state statutes which talk about the consequences of acting in bad faith. 

 

  • During Mergers & Acquisitions:

During an M&A transaction, the following things are assessed, whether the seller’s patent portfolios include critical company technology to confirm if all fees have been paid and no ownership issues or chain of title defects exist. Following these steps will permit the parties to assign a monetary value to the portfolio. The analysis at this stage can also include assessing the patent infringement risks posed by third-party patents on the technology that is going to be acquired. 

 

  • During divestment, or licensing

Divestment and licensing strategies allow the patent owners to determine how their patents will be utilized. If their portfolio affords broad patent protection, then the value of the technology is high. Valuing patents can be performed in a number of techniques, both quantitative and qualitative. Qualitative analysis helps in determining the scope and strength of the patent rights. On the other hand, a quantitative analysis leverages these findings to assign a monetary value to those rights.

 

  • For contingency reasons:

Patent due diligence can also be done for contingency reasons. If you believe that you might be sued for infringement, and would like to have a deeper understanding of your patent portfolio and how it fares against your competitor’s, then it is wise to conduct patent due diligence. Let’s say you are planning to sue a company that is infringing on your patents, then it is wise to invest in conducting patent due diligence.

 

  • Before filing a patent application:

Patent due diligence is also performed before filing a patent application. They are performed to identify and assess prior art references.

 

How to Conduct IP due diligence. 

Conducting IP due diligence requires professional skills and has to be done thoroughly. IP due diligence should be performed during the initial stages of negotiations itself. By doing so, you will identify if there are any legal issues that affect the value of the IP. While every business transaction is different, there are a set of requirements that should be met when conducting IP due diligence. Here are a few of them. 

 

  • Identify IP assets: 

You need to find the patents, trademarks, brand names, domain names, and any other tangible and intangible assets of the company that you are investigating. 

 

  • Verify ownership and existence of IP: 

One of the first things that are usually investigated during an IP due diligence process is IP ownership. To establish and recognize the seller’s rights, a series of questions are asked about each of the IP assets that are being considered. The IP assets should be easily transferable and there should not be any disputes. If there are disputes, it becomes difficult for the seller to transfer the title and rights of the IP asset to other parties. 

 

  • Check for areas covered in the IP

When you’re validating each IP asset, it is imperative that you check for the countries where IP rights are covered. Therefore, you need to identify which of the territories are protected. If the business operates in multiple countries and has not secured their rights in all the areas where they operate, you might not be able to leverage the IP in those areas. Do remember that IP assets like copyrights and patents are only valid for a certain period of time. You need to study the local IP laws of each directory to check the validity.

 

  • Checking for third party claims:

Apart from identifying IP ownership, it is also wise to check if there are any third-party claims with respect to the seller’s IP assets. There are times when a third-party might have got rights to an IP asset unknowingly. You need to check all the license agreements, franchisee agreements, joint venture agreements, MOUs, and other contracts to ascertain that you will be receiving exclusive rights once you buy the IP assets from the seller. 

 

  • Evaluate potential IP infringements:  

You also need to ascertain whether a third party is infringing on the seller’s IP rights or if the seller’s IP rights are infringing on another company’s assets. In either of these cases, the disputes that arise from it will negatively affect your business. You have to mandatorily conduct a freedom-to-operate search to check whether the investor can make use or sell their IP assets without infringing on any third-party rights. 

 

An FTO search will give you deeper insights into patent rights and tell you if there are any other roadblocks that you need to be careful about. It’s the FTO searches that show any roadblocks. You need to take the necessary steps to overcome them.

 

Steps to conduct due diligence properly:

  1. Ensure that you have a proper IP due diligence team in place. Discuss with IP professionals to see what can be expected from the transactions.
  2. Come up with an IP due diligence checklist based on what is necessary. 
  3. Segment the IP assets of the target that is relevant for the transaction. Segregate IP rights or protectable intangible insights from those that are not relevant. The IP due diligence should show the importance of connecting such additional IP rights with the main IP rights for the transaction. 
  4. Find out the nitty-gritty when it comes to IP ownership. Ensure that you collect information on other IP rights that might pose an issue in the future. 
  5. It is important that the facts collected are also double-checked so that there is no discrepancy. 
  6. Analyze the protected and protectable IP rights. Check for the IP’s status, validity, ownership, claim, and conflict. 
  7. After conducting all the above, prepare the final due diligence report. It should highlight the risks that are a part of the strategies and ways to reduce the risks and the liabilities. 
  8. Document, execute, and record the IP agreements. 

 

Conclusion:

Conducting due diligence is a non-negotiable activity for businesses to mitigate the risks involved. It should be done no matter what your IP portfolio composition looks like. Having a proper due diligence strategy and following it rightly provides a world of benefits for all the stakeholders involved. 

If you are looking for an end-to-end IP services firm to help with patent due diligence, ResearchWire will be glad to help you with it. Get on a call with us to understand how we can assist with your IP needs.  

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