5 Reasons to Capitalize on the mHealth Opportunity with M2M

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5 Reasons to Capitalize on the mHealth Opportunity with M2M

  
  
  

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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?

Connected products.

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?

  1. Remotely monitor equipment in improving asset uptime and operation (without patient involvement)
  2. Automate the software patch delivery process in reducing costly service visits
  3. Send treatment data directly from the equipment to doctors in delivering real-time information and avoiding patient transport/visits
  4. Monitor solution levels for automated resupply in increasing consumable revenue
  5. 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.

Comments

I work forwww.openmhealth.org and this is my personal opinion.  
 
Thanks for writing this post about connected systems. One thing, I think, to add to the list is connected/integrated apps and devices in the health care ecosystem. As our demographics change, we won't have enough hospital beds to meet future demand of health services. Health applications will be able to help monitor and track a patients care making it easier for a doctor to provide their insight on how to improve a person's health status.  
 
I don't believe there will be one killer app that'll solve a person's problems--especially when there are so many co-morbidities people face. We need a way to make sense of the data so integration can happen faster. One way is to have an open architecture (like the one we're building at Open mHealth).  
 
Would be interested to see what your thoughts are.
Posted @ Saturday, August 25, 2012 10:59 AM by David Haddad
Thank you for your reply to my post.  
 
 
 
I agree that there won't be one killer app, per se, and open integration with a broad range of systems -- from CRM to ERP to billing to data warehouses to more -- is the key to extending the value of connected products to every part of the product manufacturer's organization as well as their customers (hospitals, clinics, and increasingly through mHealth, patients in the home). 
 
 
 
Our customers are actively integrating the Axeda Platform with their systems to optimize (or M2Mize) a range of business processes -- from warranty management to consumable resupply to inventory management and more.  
 
 
 
We're excited about the prospect of helping our customers play a part in extending patient care to every part of the world through connected products for mHealth. 
 
 
 
I hope that you're able to join today's Webinar so that we can continue this discussion. 
 
 
 
Thanks again, 
 
 
 
--Jeff Healey 
 
 
 
Posted @ Tuesday, August 28, 2012 8:43 AM by Jeff Healey
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