In this time and age of digital technology, changes in almost every aspect of human life are inevitable. Technology in itself is constantly evolving everyday. Inventions, new and better products are introduced to the market every now and then. The Healthcare system is no exception.
Although, most medical equipments today still work as individual units, and medical practitioners and technicians still need to collaborate to generate a report on one specific aspect of a patient’s health. Often times, they would have to manually operate systems, devices and machines to generate the results. This whole tedious process does not only entail a lot of work, but requires a significant amount of time.
Fortunately, the healthcare industry has realized this inefficiency in the system and is slowly adapting to new technologies that can incredibly improve healthcare. Healthcare providers are now turning to Machine-to-machine technology, also known as E-Health, to provide more cost-efficient, reliable and enhanced services to their patients. As a result of the rapidly escalating cost of medical expenses, as well as Health Care reforms, particularly in the US and other countries adapting to a similar structure, medical providers and facilities decided to strengthen the role of connected health devices in delivering better healthcare services.
A report from Machina Research examined the impact of the possible adoption of technology that utilizes machine to machine connectivity to the healthcare sector, its viable outcomes and implications. Author of the new Sector Report Machine-to-Machine (M2M) Communications in Healthcare 2013-23 and Machina Research Principal Analyst, Andy Castonguay said that:
“In a country like the United States, with healthcare spending nearing 20% of national GDP, M2M technology may well provide the single most promising approach to expanding health care services in a cost effective manner.”
“While the cost dynamics of healthcare are a key factor driving innovation in the field, connected health devices and applications are also proving to be a key element in improving patient engagement and health.”
LeadingQuest CEO, Clovis Lacerda agrees with Mr. Castonguay in this view. According to Mr. Lacerda, M2M Technology is the best way to advance the healthcare system and eliminate problems such as long waiting periods. It would also be very cost-efficient for healthcare providers and can save them millions of dollars. Providing M2M Healthcare Solutions is one of the primary services that LeadingQuest and Parlacom Brazil offers to its clients. These are customized M2M E-Health solutions and applications that have been effectively used in care facilities. He further mentioned that Parlacom Brazil is enhancing their services, and is looking into investing more in this area to increase sales force.
From the same report from Machina Research, M2M connected devices for the healthcare sector is anticipated to hit 847 billion by 2023. In this report, North America will be the largest, reaching 386 million connections, followed by Europe and developed countries in Asia Pacific. And the Healthcare industry will generate a total revenue of $90.9 billion from M2M technology.