The fallout from COVID-19 is driving huge investment within AI and nanotechnology, with healthcare investment expected to grow at a rate of nearly 50% more a year towards a market set to be worth $1.333 trillion by 2027, according to Vector Innovation Fund.

The acceleration highlights wide recognition that the world cannot afford the human and economic cost of another pandemic, it says. At present, 70% of global healthcare provision is spent on providing care for the last few months of our lives.

It is further accepted that the pandemic has shown the inefficiency of the worlds centralised healthcare model and its poor outcomes, with far reaching economic effects and negative impacts on treating cancers, mental health, cardio-vascular conditions, and the emerging challenge from Long COVID.

But observers say this will now trigger the greatest transformation of investment in advanced healthcare technologies since World War II.

These include sophisticated nanotechnology-based diagnostics, biomarkers, vaccines, novel therapies, highly targeted nanomedicines and AI, allowing us to move to a more sustainable, digitised, decentralised and democratised point-of-care environment.

“With dynamic investment these will free our economies and future-proof us from infectious diseases as well as develop solutions to antibiotic resistance, another global healthcare challenge that only technology can solve,” VIF says.

“Investors are already switching to this accelerated model, away from traditional healthcare infrastructure and onto point of care and precision medicine.

“This delivers sustainable healthcare economics as well as improving life and longevity. Such investment is expected to bring transformational impact and returns over the next decade and beyond.”

This trend was apparent before COVID-19 but investment in healthcare technology in the second half of 2020 has already reached record levels and is set to climb significantly over the next decade.

One particular investment group has developed a unique gateway fund to innovative and disruptive technologies, targeting current and future pandemics, as well as transforming global healthcare.

This international investment platform operated by Vector Innovation Fund G-P Srl, is registered and regulated as an Alternative International Investment Fund, domiciled in Luxembourg due to the country’s world class reputation for tax efficiency and regulatory standards. This highly innovative fund is attractive and available only to sophisticated international, UHNW, family office, sovereign wealth, and other institutional investors.

Vector Innovation Fund (VIF) has now launched a $300 million sub-fund for pandemic protection and future healthcare, aiding and supporting precision medicine, highly advanced point of care and AI technologies to support the global economy, sustainable healthcare, and life longevity.

Paul Stannard, chairman and general partner of VIF, says, “Politicians are always forced to defend our old, centralised healthcare model but the pandemic has proved beyond doubt its not fit for purpose.

“A new approach to emerging technologies is vital,” he says. We have brought together some of the worlds leading figures in biomedicine, advanced diagnostics, nano biomarkers, telemedicine, AI and machine learning to accelerate these transformational technologies into the markets, backed by sophisticated and institutional investors creating one of the most dynamic international investment structures,” Stannard explains.

“Globally, we have had to deal with Ebola, Zika Virus, Bird Flu, and now COVID-19 in one decade, but the economy must adapt to a new future, where prevention and early intervention as well as using AI to drive more sustainable models for healthcare and investment.”

One example of this is the profound change in telemedicine in just a few months. These technology solutions for GPs and patients, have allowed us to monitor and support many more patients during this pandemic the start of an unstoppable transformation.

Stannard says previous investment criteria were holding back innovation and only reinforcing the broken property-focused and centralised models for healthcare. Innovators have proved that they can develop and commercialise novel technologies and have some approved within months, not years, and this trend will advance beyond the current crisis, which is creating this groundswell of pent-up investment in advanced technologies.

“Our team have an excellent track record in industry, healthcare, technology and investment, with 21 exits and a total value creation of $2.4 billion, including two successful IPOs,” he says.

A recent report by KPMG and HFS Research highlighted how companies and governments need to make smart investments in emerging technologies if they are to prevail against future pandemics: 65% of 900 global executives polled said: We don’t have a choice or we risk threatening our very existence.

Paul Sheedy, founder of The World Nano Foundation, an international not-for-profit organisation for the commercialisation of nanoscale technologies, adds, “Nanomedicine and the decoding of the genome have been enhancing healthcare for a number of years, but the pandemic has catapulted healthcare investment creating a hockey stick effect for investors.

“This includes vastly improved home testing and advanced diagnostics where we know outcomes are significantly improved through early intervention,” he says.

Added to this, highly targeted precision medicines or therapies are going to transform all forms of healthcare, allowing us to work in parallel with and then ultimately move away from the current archaic centralised healthcare system delivery.

Nanotechnology is forecast to more than double from $54.2 billion this year to $126.8 billion by 2027 and will create a positive force for change when combined with AI and machine learning, forecast on its own to soar 22.5% a year through to 2027 from a $284.38 billion market in 2019.

“We are going to see these twin forces of innovation transform how we live, work, and manage our health in real time as well as develop sustainable models for everything from food production and energy to transport and pollution, all of which improve health and well-being.

“The world of philanthropy and impact investing is also undergoing significant change as we realise that we must advance everything from healthcare for all with more affordable point of care to climate change, improved biodiversity, and reversing pollution.”

Naz Bashir, trustee of global technology charity World Science Aid, says, “The world has suddenly woken up to the fact that the global challenges of healthcare, pollution and climate change must now be tackled head on.

“The pandemic has proved that money has no value without sustainable life and a stable economy. The world has reinforced the mistakes of supporting tired funding models for too long, and one positive outcome from the current global crisis is recognition that we now need to invest for the future, and these new technologies can right some of the wrongs of the past.

“For instance, two billion of the worlds seven billion people still do not have access to clean water or simple point of care technology,” says Bashir. “The next generation deserve and demand a better future that these enabling technologies can offer our governments and investors towards building a better post-pandemic future.”

Health minister assures that country’s cold chain infrastructure has been sufficiently upgraded to ensure last mile delivery and that adequate supplies of syringes and other logistics have also been made

A day after the CDSCO’s Subject Expert Committee (SEC) on COVID-19 recommended an emergency use authorisation (EUA) for Oxford University-Astrazeneca’s COVID-19 vaccine candidate Covishield, the Ministry of Health & Family Welfare today conducted a nationwide mock drill at 285 session sites to test the end-to-end planned operations and the mechanism that has been set up to ensure smooth conduct of the COVID-19 vaccination that is expected to begin soon.

As per the health ministry, the dry run was conducted across 125 districts covering all States/UTs having adequate representation of urban and rural districts along with hard-to-reach areas.

The Union Minister for Health and Family Welfare Dr Harsh Vardhan also visited two mock vaccination sites in Delhi to review the dry run drill, first visiting the GTB Hospital in Shahdara and later an Urban Primary Health Centre (UPHC) in Daryaganj.

Dr Harsh Vardhan said that the digital platform, Co-WIN, repurposed from the e-VIN platform will provide real time information of vaccine stocks, their storage temperature and individualised tracking of beneficiaries of the COVID-19 vaccine. This platform will assist programme managers across all levels through automated session allocation for pre-registered beneficiaries, their verification and for generating a digital certificate upon successful completion of the vaccine schedule. More than 75 lakh beneficiaries have been registered on Co-WIN platform till date, he said.

Speaking on the preparedness for ensuring that the vaccine reaches even the remotest corner of the country, Dr Vardhan said that the country’s cold chain infrastructure has been sufficiently upgraded to ensure last mile delivery. Adequate supplies of syringes and other logistics have also been provided for.

He also warned the citizens against falling prey to rumours and disinformation campaigns regarding the safety and efficacy of the COVID-19 vaccine and rubbished rumours being propagated on social media which are raising doubts in the mind of the public regarding the vaccine side-effects. He urged the media to exercise caution and to behave responsibly and check all facts before publishing or broadcasting any reports.

Dispelling doubts regarding the country’s capability to undertake such a massive vaccination drive, Dr Harsh Vardhan noted that India has been applauded by the world for its robust Universal Immunisation Programmes. He said India has conducted several successful immunisation drives with respect to polio, rubella and measles. He narrated his personal experience from the early nineties of having galvanised efforts of millions of Indians which eventually led to the eradication of Polio from the country.

“It is as a result of our steadfastness and dedication, that India was declared polio-free in 2014. Our rich learning from the earlier immunisation drives including the Polio vaccination campaign is being used to guide our present countrywide COVID-19 vaccination campaign”, he stated.

The Minister said that the entire operational planning and IT platform had been field tested in four states on December 28-29, 2020; and on the basis of feedback received, certain enhancements have been made in the system. All the State and District officials have been thoroughly trained for conducting this dry-run that is aimed at testing the laid-out mechanisms for COVID-19 vaccine roll-out. This dry run will end with review meetings at district and state level to discuss the issues and challenges encountered during the exercise. States/UTs have been requested to share the feedback with MoHFW which will be analysed for ironing out any glitches in the final execution and further refinement of the operational procedures.

Rinac India (Rinac), an insulated panel and refrigeration system producer in India, recently produced mobile medical Intensive Care Unit (ICU) facilities made with BASF’s Elastopir, a high-quality polyurethane rigid foam insulation solution.

Traditionally used in the construction of refrigerated spaces for cold storage and animal farming, Elastopir is reportedly being used for healthcare facilities for the first time, to support India’s urgent need for more hospital beds during the COVID-19 pandemic.

Each mobile medical facility unit has five beds and is entirely prefabricated, making it easy to configure the number of beds based on the needs, as per a statement from the company. It can also be redeployed to different locations across the country using trailers.

“We need the ICU facilities to be fully airtight and insulated to ensure the safety of our healthcare workers and minimise transmission of the virus,” said Soji Abraham, Senior Vice President, Strategy, Rinac India.

“Thanks to BASF‘s Elastopir, the wall panels made with this excellent insulating material can help meet these requirements. With its extra high-temperature stability, the patients can recuperate comfortably with consistent indoor temperatures at 22-25 degrees Celsius. Most importantly, Elastopir’s superior fire performance helps enhance the protection of these facilities against fires.”

By reducing air loss and solar gain, Elastopir lowers energy consumption and helps increase the facilities’ energy efficiency. For the same insulation performance, panels produced with Elastopir are 50 per cent-100 per cent thinner than other traditional materials such as concrete. With thinner walls and envelopes, the mobile ICU facilities have more usable space and higher flexibility during construction.

“BASF is also sponsoring a unit of the ICU facility as part of its social engagement,” said Andy Postlethwaite, Senior Vice President of Performance Materials, Asia Pacific, BASF. Sponsorship of the ICU facility is by BASF South East Asia and BASF East Asia Regional Headquarters.

“We aim to ‘go beyond’ by developing ever more innovative, sustainable solutions that help our customers, such as Rinac produce the highest quality and most energy-efficient insulation panels for their medical units.”

As the slower-than-expected COVID-19 vaccine rollout continues around the United States, experts have noted the importance of the “last mile” – getting dosages into the arms of patients.

Some industry leaders say that although the logistics are certainly important, using existing patient engagement technology to complement vaccination outreach could be key to ensuring that every American who needs protection from COVID-19 can get it.

Guillaume de Zwirek, CEO of Well Health, told Healthcare IT News that he believes the best strategy is to “meet patients where they are.”

“I don’t think healthcare really understands what true patient engagement is,” said de Zwirek, whose company offers patient communication tools. “There is no single common standard. They’re all communicating with patients in different ways.”

“Healthcare is the third-worst industry when it comes to customer service,” de Zwirek continued. “It should be number one.”

De Zwirek noted that labyrinthine messaging systems and unclear pipelines can contribute to patient frustration and health risks.

For instance, at the time of his interview with Healthcare IT News, de Zwirek noted that it had taken him a full hour to book an appointment to get himself and his family tested for COVID-19 after an exposure, “with 12 different phone calls.

When the pandemic first began to sweep across the United States this spring, “the first thing our company did is, we thought about our platform and how we could help our customers handle the influx of patients,” de Zwirek said. “We built out a bunch of workflows.”

Now that the vaccine is becoming more widely available, Well plans to scale up in a similar fashion, he said, noting that 13 integrated delivery networks are using the platform to deliver vaccine-related communications via text message.

Since the beginning of December, the company says it has helped providers schedule more than 8,000 “dose 1” vaccine appointments.

“We took a customer live in four days last week specifically because of the COVID vaccine,” de Zwirek said.

Many electronic health records have been preparing their systems to record COVID-19 vaccinations and report back to health departments, with some using patient portals for vaccine-related communications.

“I’m not here to compete with or replace the patient portal,” said de Zwirek. But he said bundling workflows into the portal inevitably creates friction.

“I got my COVID results yesterday. I got an email with the link to my MyChart and couldn’t remember my password,” he said.

By contrast, there are HIPAA-compliant ways to use texting to convey information to patients.

“If there is an opportunity to eliminate friction, take it,” he said. “There are many use cases that don’t include [protected health information] that will get way higher compliance.”

Greg Johnsen, CEO of LifeLink, points to chatbots as a way to address patient demand and confusion around the vaccine.

“Additional complexities around new documentation, specific follow-up vaccination windows, and an influx of people that are new patients could overwhelm current intake and scheduling processes,” said Johnsen.

“Building a handful of digital assistants versus training thousands of individuals is also a key consideration when it comes to efficiency and cost,” he added.

Johnsen pointed out that conversational AI can engage people on their phones or other devices to help with scheduling, form completion, reminders, directions, screening and follow-up.

He noted that EHR integration is “critical,” saying that EHRs can trigger bots to reach out to patients and help to make the process more personal.

“It makes a difference if the bot knows your name, or knows your doctor, or knows the date you are due to get your second dose of the vaccination,” said Johnsen.

“Conversely, when a digital assistant collects information from patients, that data must be written back to the patient record in the EHR. Conversational AI is at its best when deployed as an engagement layer that ‘wraps’ and extends the big systems of record,” he added.

Like de Zwirek, Johnsen emphasized the importance of smoothing friction wherever possible. He says browser-based programs with a wide range of supported languages can boost access, enabling patient trust and ease of use.

“The human dimension to healthcare is vital and should not be diminished in any way. But the administrative overhead is ripe for automation,” he said.

LifeLink, which enables providers to deliver patient workflows as chatbot conversations, measures engagement as a key performance indicator.

“In light of the expected COVID-19 vaccination volume projections, saving just a few minutes on each case adds up to massive time and efficiency savings,” Johnsen said.

“It could be the difference between achieving herd immunity in 2021, or not,” he predicted.

Pouria Sanae, founder and CEO of ixLayer, said another way to smooth out friction could be streamlining as much pre-vaccination communication as possible.

ixLayer, which offers tools for health testing technology, can be integrated with EHRs to offer physician-ordered, patient-ordered or direct-to-consumer testing.

“When COVID happened, we had everything in place to start COVID testing,” said Sanae, who says ixLayer “sits in the background” for hundreds of COVID testing programs, including the U.S. Coast Guard’s.

Now, with individuals beginning to clamor for access to the COVID-19 vaccine, Sanae says ixLayer can be used for patients’ electronic consent forms and health history in order to make the process smoother.

One advantage, he says, is the platform’s ability to offer solutions “in as many languages as [the providers] want” – which will be increasingly important as the vaccine becomes available to the wider population.

“Once you’ve done the vaccine, there are patient CRMs in place so you can keep a closed loop,” Sanae continues, which will allow providers to more easily track any severe symptoms or adverse reactions.

As far as accessibility goes, Sanae says the company went through an audit to try and ensure the platform does not present hurdles for users with disabilities.

“But this is something the entire industry needs to improve,” Sanae said.

Conversa Health, a Portland, OR-based automated virtual care and triage platform, has expanded its suite of COVID-19 programs with tools to help the vaccine effort. As part of its expansion, Conversa has partnered with BioIntelliSense to monitor healthcare workers at UCHealth in Colorado before and after receiving COVID-19 vaccinations. UCHealth physicians, nurses, and other front-line staff members wear BioIntelliSense’s BioButton medical device two days before and seven days after vaccination. The BioButton continuously monitors temperature, respiratory rate and heart rate at rest. Conversa collects information from the BioButton and integrates the vital signs data with insights from a daily interactive vaccination health survey developed by Conversa.

Vaccine education, tracking and screening

Conversa also is assisting health systems across the country with the challenge of vaccinating millions of patients. This effort begins with educating patients on the safety and efficacy of the vaccines. Patients want to know when they will be eligible to receive vaccines and what their experience will be like, including potential side effects. And patients need an easy way to set up vaccine appointments and get reminders to follow through on their visits. Health systems also want to monitor potential side effects, both to ensure patients get needed follow-up care and to report any side effects to the Centers for Disease Control and Prevention.