Ideas from fintech

I stumbled on this. Although behind a paywall, I’ll include the most relevant bits. I have been tracking fintech because there is huge innovation happening in that space. More importantly, it’s the central banks that have warmed up to these ideas, and in some instances, providing a “sand-box”. Healthcare (and financial systems) have common trajectories – both are heavily regulated. Both require extramural funding, and both are critical geopolitically.

Digital activity helps track data on economy | Business Standard Column

The government has been using data of about 80 high frequency indicators (HFIs) in recent years, to get better insights into the economy. These 80 HFIs include demat accounts; average daily electronic toll collection at highways; Aadhaar-enabled payment systems; e-way bills generated; total retail financial transactions; and Unified Payments Interface transactions.

What is common between these is the near-instant flow of data to policy makers. Digital transactions and online storage of such activity allows sharing of information. With the right data analysis design, getting a comprehensive view by combining different sets of data is possible within days, if not hours.

This is exactly what triggered the idea for the blog post. Getting a comprehensive view of the quantifiable variables in the data-design is more critical than fancy “predictive algorithms”. Invasive monitoring (and interpretation) is still in isolated pockets. Instead of “remote monitoring” of the ECG’s, it is critical to track variables that will correlate with outcomes. Therefore, first getting the data design “right”, is critical.

These are just raw ideas to get a virtuous circle. That’s why I always recommend broad-basing the reading skills, because it helps keep track of what’s happening in other sectors and basing that for healthcare delivery.

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