5 Reasons to Capitalize on the mHealth Opportunity with M2M
You don’t need to look any further than our daily news headlines for how mHealth (also referred to as mobile health or telemedicine) is shortening the distance between doctors and patients in improving and delivering critical care to the far reaches of the globe.
mHealth is quickly emerging as the fastest-growing M2M segment with these impressive growth estimates:
- mHealth-related symposiums, conferences, and tradeshows are at record highs.
- Google hits for mHealth will more than double from last year to ~300,000 in 2012.
- mHealth revenues are projected to grow to $32.5 billion globally by 2018 ― up from 13.2 billion in 2011.
With countless life-saving stories involving the elderly and the critically ill, it’s easy to see how mHealth has become such as media darling. But what is the key enabler to mHealth’s success in achieving such hyper growth?
Medical product manufacturers and solution providers view connected products as the key to combating rising costs and generating more revenue by enabling healthcare organizations to extend patient care to more and more remote locations, including households.
With simplified connectivity, cloud-based application platforms, and organizations to create tailored solutions, everything from pill dispensers to dialysis machines to patient monitoring devices and more are becoming connected products.
So, what are five ways in which medical product manufacturers and solution providers are capitalizing on the mHealth opportunity?
- Remotely monitor equipment in improving asset uptime and operation (without patient involvement)
- Automate the software patch delivery process in reducing costly service visits
- Send treatment data directly from the equipment to doctors in delivering real-time information and avoiding patient transport/visits
- Monitor solution levels for automated resupply in increasing consumable revenue
- Track equipment for improved inventory management and auditing
Interested in learning more? Join Axeda and GlobalLogic for an upcoming Webinar: Capitalizing on the mHealth Opportunity with Connected Products.