Transparency Market Research, authors of the report “Advanced Remote Patient Monitoring Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” share insights on the market via a press release.
Q. How have advanced remote patient monitoring systems changed healthcare?
A. The proliferating nature of healthcare business has encouraged the rise technological solutions that connect patients and physicians, despite the challenges of distances. These technologies are being designed to learn worrying signs and notify the patient before the condition turns into a threat. Some of the sleep disorder diagnostics solutions by CleveMed are helping patients to overcome sleep apnea. Its products such as SleepViewSM Web-portal, Sapphire PSG, SleepView, SleepScout, and SleepView Direct are aimed towards normalizing sleep patterns and improving the rate of diagnostics and treatment. These devices secure patient-related information, store it on the cloud, and use it for deducing a logical conclusion. The AliveCor Heart Monitor also works on a similar principle. This device works in conjunction with the user’s smartphone to record an accurate ECG. Additionally, it also monitors effects of medicines, changing symptoms, and palpitations to determine the health of the patient.
Q. What are the benefits of remote patient monitoring systems?
A. The obvious benefits of remote patient monitoring systems are improved quality of lives, real-time support from medical practitioners in the case of emergencies such as asthma attacks or heart failures, and availability of home case post discharge.
The aforementioned advantages have also brought down the number of readmissions for patients, thereby eliminating chances of prolonged hospital stays and recurring costs. On the other hand, advanced remote patient monitoring systems also bring in clarity in more accountability, compliance, and reduced the cost of care thereby making insurance companies happy.
Q. How will remote patient monitoring systems reduce economic burden?
A. Statistics show that a rise in the number of geriatrics and rising cases of chronic obstructive pulmonary disease (COPD) are straining the healthcare systems. Furthermore, the high incidence of diabetes, cardiac arrhythmia, ischemic diseases, hypertension, sleep apnea, and hyperlipidemia are also adding to the insurmountable medical expenses that cannot be afforded by many.
As the number of geriatrics are expected to reach 265 million by 2020, deployment of patient monitoring systems will help to deliver value-for-money services. This will also allow the elderly patients to remain independent, thereby reducing the economic burden on themselves, primary caregivers, and the hospitals.
However, the biggest drawback of advanced remote patient monitoring systems is the possibility of technical glitches that can render the systems useless. Furthermore, methods of tracking consultations with patients for remunerating the medical practitioners also remains a debatable issue. Despite the positives and the negatives in the overall market, analysts predict that the advanced remote patient monitoring systems will make an indelible mark by saving and transforming lives.