Home / Ecommerce / Health Tech Trends: Connected Devices, Telehealth, Independent Living Solutions | Trends
Health Tech Trends: Connected Devices, Telehealth, Independent Living Solutions | Trends

Health Tech Trends: Connected Devices, Telehealth, Independent Living Solutions | Trends

Health Tech Trends: Connected Devices, Telehealth, Independent Living Solutions | Trends

The U.S. healthcare business is in the course of transformation, together with an overhaul of its data infrastructure from bodily to virtual, and the upward thrust of knowledgeable and more and more empowered shoppers. Managing shoppers’ healthcare revel in is now not a promoting level, however a must-deliver part of generation distributors’ answers.

Within the hooked up health area, tech leaders within the client health and wellness section are coming into the scientific gadgets and knowledge marketplace, collaborating in research for medical validation, and in quest of regulatory compliance with the FDA and HIPAA.

Fitbit and Apple are leveraging their wearables platforms to broaden analysis and tracking algorithms.

With CareEquipment, Apple is enabling care suppliers to broaden apps on its platform reasonably than forcing a one-size suits all resolution. This permits the method to be physician-led and physician-guided.

Both Apple and Amazon are in quest of to make their gadgets healthcare platforms for third-party scientific programs.

Alongside tech giants, retail manufacturers are incorporating connectivity into their product traces, serving to to lift consciousness:

  • Under Armour introduced a partnership with Samsung and JBL to offer a health ecosystem of sensible sneakers, watches and programs.
  • Peloton emerged to revolutionize the desk bound motorbike with a subscription fashion for on-demand and are living streaming health lessons — a primary in hooked up social health.

The newest developments and tendencies in hooked up well being come with hooked up well being and health gadgets giving shoppers higher perception into well being metrics, larger availability and use of telehealth products and services, and corporations that specialize in offering impartial residing answers focused on sensible generation.

Connected Devices

Connected well being and health gadgets — in particular wearables — supply customers with new insights into their very own well being.

Adoption of hooked up well being gadgets has been expanding through the years, and 40 p.c of shoppers now personal no less than one indexed hooked up well being instrument, throughout numerous gadgets designed for wellness, health and scientific functions.

Chart: Adoption of Specified Connected Health Devices

Wearables were seeing super enlargement since Parks Associates first began monitoring the class in 2013. Fitness trackers or watches are attaining nearly 1 / 4 of broadband families, at an adoption price of 23 p.c.

The distinct shape elements are blurring, as health trackers and smartwatches serve overlapping wishes, and advertising messages don’t draw a transparent distinction. Overall, smartwatches are gaining flooring temporarily, and one-third of smartwatch house owners used a health tracker ahead of purchasing a smartwatch.

Telemedicine and On-Demand Virtual Care Services

Telemedicine and on-demand digital care products and services supply a faraway resolution for doctor visits, transitional care after a medical institution discharge, and ongoing persistent care control, which will decrease prices for each sufferers and suppliers.

For instance, Jefferson Health discovered that its telemedicine platform’s web value financial savings to the affected person or payer according to telemedicine seek advice from used to be US$19 to $121, which represents a significant value financial savings when in comparison to the $49 value of an on-demand seek advice from.

These products and services are also extremely handy for shoppers and will increase get admission to for individuals who have problem attending to the physician, whether or not because of distance, scheduling or situation.

Telemedicine supplies the benefit and potency of now not requiring the affected person to bodily cross to a doctor’s workplace, enabling flexibility — a key worth proposition for sufferers.

However, doctor licensing varies state-by-state, which poses a problem for citizens who don’t are living in the similar state as their doctor. Similar to licensing necessities, compensation varies state-by-state, via provider, and third-party payer.

Potential telehealth customers should navigate various kinds of telehealth and differing compensation insurance policies, outline originating and far away websites, and resolve if they’re in a well being skilled scarcity house (HPSA), amongst different issues.

Independent Living Solutions

Independent residing answers, which surround numerous assistive applied sciences, are extending seniors’ talent to stick of their house safely, and embellishing communications with family members.

Companies around the spectrum, from instrument producers to tracking suppliers, are enabling impartial residing answers. American Two Way, as an example, makes use of its tracking features to offer non-public emergency reporting machine (PERS) and telehealth answers. Similarly, Rapid Response supplies tracking for PERS and mPERS.

The impartial residing marketplace is difficult, in that the end-user will not be the consumer of the product. Caregivers persistently display upper hobby and better willingness to pay for an answer than do seniors themselves — in particular seniors elderly 75-plus who’re maximum wanting one of these machine. Affordability is a matter for seniors, lots of whom are on fastened earning in retirement.

Chart: Caregivers' Willingness to Pay for Home Independent Living Features

Thirty-eight p.c file being “very concerned” about having enough monetary sources as they age. The majority of caregivers would pay $50/month — the best value level examined — for an impartial residing resolution for his or her family members. Seventy-seven p.c would pay $30/month — the similar per 30 days value as Best Buy’s Assured Living resolution (plus in advance apparatus charges).

As we transfer into 2020 and past, be expecting the traces to blur throughout a number of classes within the hooked up well being area as care suppliers experiment with client gadgets as a part of better faraway affected person tracking methods, and client answers experiment with integrating digital care products and services into their choices.

Dina Abdelrazik is a senior analyst at
Parks Associates.

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