Healthcare


Patient Monitoring Industry—Analysis of Investment and Trends, 2018

Transformation From Patient Monitoring to Disease Predictions Industry
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Published: 7 Feb 2019

In the era of data and information, the impact of digital technologies on the business world, combined with the generation of Big Data, is high. The emergence of the ability of end users to generate universal content has created digital business incubators and healthcare is no exception. Demographics and healthcare policies are shifting in ways that are transforming healthcare. Progress in all connected devices and information technology in healthcare continue to address existing challenges and restraints, while simultaneously creating innovative opportunities that impact patients and providers alike. Digital transformation across the healthcare continuum is defined as connecting cloud-based technologies with a patient monitoring platform, creating a comprehensive digital workflow across the entire healthcare organization, including all remote locations. True digital business unit success comes with total digital transformation or creation of a digital capability by completely re-addressing and improving all business models, customer relations, and related business processes. Transformation of patient monitoring is primarily aimed to improve patient experience, use analytics and Big Data to improve decision making, create logical interoperability, and enable virtual care. The digital transformation of patient monitoring holds the potential to impact literally every aspect of our healthcare delivery system. Patients and providers collectively will be able to make better choices, leading to better utilization of healthcare resources, which will translate into physicians being able to spend more time with their patients. To achieve these goals that address the three aims of healthcare: reduce cost, improve patient outcomes and quality of treatment, and increase access to care, incremental, but concurrent implementation steps are required that emphasize patient monitoring (including remote monitoring) and the accumulation of healthcare Big Data. Individual and even rudimentary patient monitoring system technology today must rely on proximity to patients and caregivers. This limits the ability to capture valuable health-related data when and where it occurs. Remote digital patient monitoring data will be combined with concurrent streams from hundreds, if not thousands, of other sensors as virtually every life function feasible is captured and stored by applying a sensor to vital organs, ocular orbits, and the brain itself. Digital transformation of patient monitoring will provide unprecedented access to population analytics, driving change in operations and patient care. With more impetus being put on shorter hospital stays and comprehensive follow-up following care intervention, continuous remote patient monitoring presents an environment for 24/7 clinical data and the ability to intervene to prevent potentially catastrophic clinical events without readmission. This research service provides an overview of transformation of the patient monitoring industry. The unique value of this study is that it talks about current investment trends and start-ups in select applications. Author: Sowmya Rajagopalan

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