Nowadays, the most of the organizations are trusts on remote patient monitoring (RPM) and telehealth solutions to reduce readmissions and to improve outcomes. Some patients are sent home with wearable tools that track metrics such as blood pressure, weight and oxygen saturation. Combined with videoconferencing, the technology offers a way to keep tabs from afar.
With a rise in cases of chronic illnesses such as diabetes and hypertension, there has been a rise in awareness regarding one’s health. Also, in recent days, there has been a significant rise in the number of individuals suffering from heart related disorders. These factors have led to increase in the importance of maintaining health among the population in the developed as well as the developing nations. The demand for various health monitoring devices for maintain track of health status has increased significantly in the recent years. Also, there has been a rise in number of specialty clinics and home healthcare business in countries such as, US, India, Canada.
Chronic diseases, including heart disease, stroke, diabetes, and obesity, are the leading causes of death in the world and account for most of the nation’s health care costs. According to report of CDC, in 2018, approximately more than 9% of the population has diabetes, which is the leading cause of kidney failure, lower-limb amputations in US. Moreover, the data also suggests that 1.5 million Americans are diagnosed with diabetes every year in the US. Similar trends for high presence of diabetes are prevalent around other geographies of the globe that include Asia Pacific, Europe, Middle East and Africa. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation in 2017, south-east Asia is home to approximately one-fifth (19%) of the total diabetes population worldwide.
2019: NewYork-Presbyterian Hospital and Philips team up for remote patient monitoring. The hospital’s affiliated doctors at Weill Cornell Medicine will utilize the Philips eCareCoordinator and eCareCompanion solutions. Additionally, its affiliated physicians at Columbia University Irving Medical Center anticipate using the tools.
2017: Medtronic Care Management Services and American Well Entered into Partnership to Integrate Telehealth Capabilities. The partnership will enable the proper and accurate telehealth solution which aims to offer the needs of the chronic, complex, co-morbid population of the patient.
2016: Philips acquired Wellcentive, provider of population health management software solutions. The acquisition is aimed at expanding Philip’s population health management business.
- Koninklijke Philips N.V.
- GE Healthcare
- Boston Scientific Corporation
- Omron Healthcare
- Medtronic Plc.
- Welch Allyn
- Resideo Technologies (Honeywell Life Care)
- Abbott Laboratories
- Biotronik SE & Co. KG
- Masimo Corporation
Thus, Rising prevalence of chronic diseases is driving the industry for remote patient monitoring in upcoming years.