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During the early stages of the COVID-19 pandemic, medical facilities were spread thin in densely populated areas like New York City. Beds where initially in short supply, and in some hospitals, patients were lined up in the hallways as the system was inundated.
But 5G could be a step in the right direction for keeping hospitals from getting overextended like this in the future. And one of the most promising 5G technology stocks has a foothold in that business. Money Morning Executive Editor William Patalon III calls it the "Zoom of Healthcare."
5G is the fifth generation (5G) wireless communications network soon to be rolled out everywhere. It uses a wider frequency spectrum so many more devices can operate in the same geographic area. The capacity could increase by a factor of 250 times over the current 4G. That also means transmissions speeds will soar – Vodaphone says 10 times over 4G. And that will enable faster communication than ever.
Why is that important? Because people can interact with machines or other people in near real time. Think about how that will transform streaming and remote-controlled drones and driverless cars. It will truly revolutionize the Internet of Things (IoT).
But 5G speeds will also transform the healthcare system as we know it. Here's why – and one of the best 5G stocks leading the charge…
How 5G Technology Will Transform Health
With 5G, doctors and patients can interact via webcam instantly, with zero latency. Surgeons will even be able to guide operations from miles away, with total clarity and no lag.
That means fewer people driving to see medical professionals, and less time in waiting rooms. And greater certainty that the people admitted to the hospital are those truly in need of care.
When 5G is paired with artificial intelligence, it could be a whole new ballgame.
Most everyone has heard of Zoom Video Communications Inc. (NASDAQ: ZM) by now. From visits with Grandma to school-at-home lessons with teachers to business meetings with clients, Zoom has become the go-to connectivity application.
But there is another Zoom out there that can make a huge impact on the $1.7 trillion health care industry, according to Bill Patalon.
Most people have never heard of it. And that is actually a good thing for investors. This tech firm – and the pandemic-supercharged telemedicine wave that it's riding – are part of an enormously profitable trend. And it will only get more necessary in a post-COVID world. Its revenue could get a "telemedicine boost" of 35% to 63% a year, and its stock price could soar…