Question

1. Why are the various forms of e- and m-commerce important in health care?

2. Be sure to include the electronic payments systems needed to support this type of commerce in a healthcare environment.

3. How do e- and m-commerce affect the way payments are made?

Answer 1

Solution:

In recent times, e-commerce and m-commerce have made massive headway in the healthcare space. Healthcare is quickly becoming a sector of the economy where e-commerce and m-commerce are playing an important role.

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Online Shopping: - and m-commerce is changing the way people shop for healthcare products, and the way those products eventually reach the customers. Instead of visiting the store in person, many customers prefer to use the internet to access the pharmacy. Companies like CAP expedite delivery to patients' doors, live online chats to handle patient questions, and allows doctors to order directly through their app. Due to their popularity among investors, these companies are attracting many investments.

Patient Care: Unsurprisingly, even care itself has begun to creep into the e-commerce territory. Apps like PRA and FRSTOP, and websites like D2U and YD.O are pioneering the area of telemedicine. While each of them operates in a different business model, the overall concept is the same. The doctors offer advice over text or live chat to patients without needing a physical visit to the doctor's office. Although this does not eliminate the need for in-person examinations, telemedicine can help patients determine whether they need an examination.

Enhance Patient Experience: Telemedicine can be coupled with pharma e-commerce to allow a remarkably seamless patient experience. Patients can consult a doctor about their symptoms, get a diagnosis, and receive medication delivered to their door, all within a quick time. Platforms like WAL and NRX deliver prescriptions that can be quick and ordered online. As technology advances, healthcare providers that leverage e-commerce and m-commerce have an opportunity to improve patients' experience through access to healthcare drastically.

Online Reputation: Because of customers' increased use of the internet to access products and medical care, providers are increasingly concerned with the quality of their online presence. In a world where transactions and information gathering are increasingly online, healthcare providers need to ensure they carry accurate and relevant information. Services like Yelp can do wonders for doctors with good reputations. They offer a way for prospective customers to get a sense of the physician's "bedside manner" and understand the culture of care. Furthermore, satisfied patients can use review services to expand on their positive experiences and health outcomes.

Accessibility: It is also essential for healthcare providers to make websites accessible to potential patients. Mobile-friendly web design is a critical requirement. In 2018, 52% of worldwide web traffic came from users accessing the internet with smartphones or tablets. Statistics show that 40% of users will go to a competitor after a bad experience on mobile. However, 84% of consumers have reported difficulties with websites they access on their mobile devices. There is tremendous potential for healthcare providers to gain or lose customers based solely on their mobile sites' quality. Hence, doctors should ensure their sites have a faster load time, are visually appealing, and feature easy navigation and menus throughout. Furthermore, it is vital that the site adequately represents the physician's dedication and specialties.

Streamline Purchases: Also, e-commerce and m-commerce represent opportunities for clinics, hospitals, and doctors' offices to streamline their purchases of medical equipment and supplies. Medical device manufacturers are increasingly moving online, to allow for direct orders and product deliveries. This shift creates some challenges. Healthcare providers must ensure that their suppliers can adhere to regulations and deliver products on time. An example of such a firm is MEX, an online exhibition of medical products that directly connects buyers and suppliers from around the world.

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Electronic Healthcare Payments

Electronic funds transactions and electronic remittance advice notices can help providers operate more efficiently while improving performance. Here are five key benefits of moving to electronic payment transactions:

1. Electronic payments can lead to lesser days of outstanding and faster accounts receivable updates. Automatic deposits also speed up cash availability and improve cash flow.
2. Electronic transactions eliminate the risk of losing paper checks.
3. Automated data entry and reporting can lead to increased accuracy and lower costs.
4. Electronic transaction systems provide tools to help providers manage claims more efficiently.
5. Providers have more time to spend with patients because the electronic payment system results in lesser effort on back-office tasks.

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E-commerce and m-commerce in healthcare is an undeniably positive force that must be harnessed innovatively and carefully.