Remote Monitoring Tech Offers $36 Billion Savings by 2018
Widely regarded as a critical component to the future of healthcare for its cost-effective efficiencies, remote patient monitoring (RPM) looks to offer billions in savings over the next five years, according to a recent report.
As the United States moves towards accountable care, the cumulative cost savings from RPM technology looks to total $36 billion by 2018, according to forecasts by mobile research specialists Juniper Research.
“With accountable care the delivery of healthcare funding is linked more directly to the health of the patient or individual, rather than being based upon the cost of treatment,” writes Juniper Research.
Even though RPM tech is still at an early stage in the development cycle, particularly as it relates to chronic diseases, the technology coincides with new healthcare practices and the goal of keeping patients out of costly care settings.
The combination of the smartphone with mHealth attachments and companion apps is creating an entirely new route for providing mHealth services, notes Juniper.
Additionally, the report finds that smartphone-based mobile health technology is expected to grow more rapidly than non-smartphone-connected devices.
Despite positive signs surrounding the number of benefits mHealth technology can provide for patients and care providers alike, Juniper also finds that mHealth providers’ business models are hampered by a lack of clarity on how they will be reimbursed for the telehealth services they provide.
Written by Jason Oliva