Can IoT be the Next Revolution in Healthcare Field?
This article aims to explain the needs of IoT in healthcare, why they are important, understanding how Realtime experiences are shifting the way devices emerge or interact, and the impact of IoT on healthcare in the future.
The internet of things (IoT) refer to smart devices that allow machine to human and machine to machine interaction possible. The IoT is a technique of connecting devices to the Internet and each other with wireless technology. They are called smart on account of their built-in sensors that exactly collect data for further action and analysis.
IoT-enabled devices have made remote monitoring in the healthcare segment possible to keep patients safe and healthy and empowering physicians to offer excellent care. It has also surged patient satisfaction and engagement as interactions with doctors have become more efficient and easier due to IoT in healthcare. IoT also reduces the duration of hospital stay and avoids re-admissions and has a key effect on reducing healthcare prices significantly and advancing treatment consequences. IoT healthcare has applications that support families, patients, physicians, insurance companies, and hospitals.
As per the report by Grand View Research, Inc., the IoT in healthcare market is poised to rise to a valuation of USD 534.3 billion and is anticipated to expand at a CAGR of 19.9% by 2025. Telemedicine application held the major revenue share in 2018 and is driven by increasing occurrences of chronic diseases and growing demand for patient monitoring. In addition, recent developments in telemedicine technology are also fueling the demand for IoT solutions. Furthermore, increasing acceptance of smart wearable devices for remote monitoring will contribute to the sector development.
Why Healthcare Sector Require IoT?
- Data into Actions Require IoT:
The future of healthcare is quantified on account of health that is measured and can be enhanced. The data affects performance and hence for object measurement and the tracking of health for better outcomes, IoT plays an important role.
- Tracking and Alert:
The wearable device is connected to a patient which tells you whether the heart-rate is increased or decreased in order to take care of patients. This information can be shared with other devices and the personal health data of the patient can be updated on cloud. The removal of data needs to feed it into the Electronic Medical Record (EMRs). In addition, IoT guarantees that every small detail is taken into consideration. Furthermore, it can be used as a home monitoring tool and medical adherence.
Thus, IoT permits real-time tracking, monitoring, and alerting, which authorizes hands-on treatments, appropriate intervention by doctors, gives better accuracy, and helps complete patient care delivery results.
- To Boost Preventive Care:
Prevention has become a key area of attention as health care expenditures are expected to grow uncontrollably in the coming years. The extensive access to real-time, high fidelity data on everyone’s health will reform health care by assisting people to live healthier lives and help prevention of diseases.
- Patient Engagement and Satisfaction:
IoT can surge patient engagement by permitting patients to use more time interacting with their doctors as it decreases the necessity for direct patient-physician contact as devices connected to the internet are delivering valuable data. It can also increase patient satisfaction by optimizing surgical workflow for example, notifying about the patient’s discharge from surgery to their families.
- To Help Care Management:
The care management allows care teams to connect and collect millions of data points on personal fitness from wearables like sleep, perspiration, heart-rate, body activity, and temperature. Thus, sensor-fed information can send out alerts to caregivers and patients in real-time, so they get alerts for triggers such as increased heart-rate. This will improve the workflow optimization and guarantee that all care is managed from home.
Ex. Apple introduced an Apple Watch App that monitors health activities like depression and heart rate. Cognition Kit Limited and Takeda Pharmaceuticals U.S.A., a platform for measuring cognitive health, signed a partnership in 2017 to discover the use of an Apple Watch app for assessing and monitoring patients with Major Depressive Disorder (MDD). The research found an elevated level of compliance with the app, which members used daily to monitor their cognition and mood.
- To Develop Population Health Management:
IoT helps suppliers to integrate devices in order to observe the development of wearables as the data captured by the devices will provide the information that would have been otherwise missed by electronic health record (EHR). The insights can be received from care teams and use IoT from home monitoring of chronic diseases.
Future of IoT in Healthcare Market:
The IoT in healthcare will solve several problems by helping to enhance the way things are done. In addition, IoT in healthcare will create better future with improved data regarding real-time tracking of patients, the hopes of curing and preventing diseases would be higher than ever.
The smart piece of digital technology is vastly changing the traditional methods on how the medicines are used in treatments, reducing the patient’s difficulties. The acceptance of this technology is increasing in other industries like industrial, automobile, retail, and civil planning, which will open many doors for the future of IoT.
Article written by Grand View Research
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