RPM is a growing market thats already proving its value; a recent KLAS Research report found 38% of healthcare organizations report that their RPM program reduced admissions, while 25% cited improved patient satisfaction and 25% reported cost reductions since implementing an RPM program.
And as an aging population and labor shortages pressure providers and payers to relocate treatment outside the hospital, the market is set to surge to nearly $16 billion by 2023, per Research and Markets.
Heres how eight medical device vendors are evolving their offerings to seize the growing RPM opportunity.
Dexcom
The company is also partnering with Alphabet's life sciences unit, Verily, iterate on its existing technologies bring new RPM products to market. Currently, the two are working on smaller, less-intrusive implantable diabetes sensors that use Bluetooth to transmit health data to a monitoring device or smartphone.
Senseonics
Like Dexcom, Maryland-based medtech company Senseonics is an CGM manufacturer for diabetes patients. Its main products include an implantable sensor, a removable and rechargeable smart transmitter, and a smartphone app for real-time diabetes monitoring and management.
A ccording to mHealthIntelligence, Senseonics earned the first-ever US Food and Drug Administration approval for a monitoring system that uses an implantable sensor to track blood sugar levels. It touts its flagship Eversense product as the first and only CGM with an implantable sensor that lasts up to 90 days.
AT&T
Most recently, the carrier partnered with mobile healthcare software and data-collection company OneLife Technologies Corp to connect the first medical wearable certified for its LTE-M low-powered network.
Designed as a complete solution for affordable telehealth and remote patient monitoring capabilities, the OnePulse smartwatch transmits users health data to the cloud, where clinicians, patients, and caregivers can monitor user status in real time. It also connects other medical devices, such as a blood pressure cuffs, glucometers, and weight scales via Bluetooth.
Medtronic
Medtronic Care Management Services (MCMS) offers a full suite of peripheral devices connected to patient platforms to monitor biometrics, vital signs, and patient-submitted symptom information. Its connected devices include weight scales, glucometers, blood pressure monitors, and pulse oximeters.
Information from MCMS RPM platforms can be accessed on its NetResponse interactive web- and app-based health system, which integrates with smartphones, tablets, or personal computers to encourage patients to play an active role in their health. Patients can log in at any time, answer a series of questions, and submit their data to a healthcare provider for review and recommendation.
Honeywell Life Sciences
At the end of 2018, Honeywell officially spun off Resideo, a publicly traded subsidiary focused on making people feel safe, comfortable, and cared for in their homes. Resideos connected solutions include healthcare-focused offerings from Life Care Solutions.
Resideo offers a line of RPM devices for vital signs collection and voice-enabled, disease-specific symptom management for patients with chronic diseases including hypertension, COPD, CHF, and diabetes. The devices integrate with Resideos LifeStream Management Suite of monitoring and analytics software for care providers to track real-time patient health and streamline delivery of care.
Philips Healthcare
In late 2017, Philips Healthcare finalized a deal with VitalHealth, a Dutch telehealth company specializing in population health technology, to strengthen its RPM offerings for chronic disease populations, including people with diabetes, COPD, congestive heart failure, cancer, Alzheimers disease, and depression.
ResMed
San Diego-based medical equipment company ResMed is a leader in cloud-connected devices to manage sleep apnea, asthma, and disordered breathing. Its spun out a joint venture with Verily focused on sleep tracking that could offer health systems and insurers real-time insights into patient sleeping data.
ResMed has also made a recent push into digital therapeutics to strengthen its connected health play. The company purchased digital therapeutics startup Propeller Health for $225 million to provide a connected health solution for people living with chronic obstructive pulmonary disease (COPD).
VRI
Together, these solutions enable doctors to monitor the daily vitals of patients with chronic illnesses such as diabetes, congestive heart failure, hypertension, COPD, and asthma. Likewise, they allow seniors to take control of their health by staying on top of prescription regimens and having 24/7 support from trained care representatives.
More to Learn
RPM devices are becoming smarter and more affordable, presenting device manufacturers that traditionally targeted hospitals and clinics with new potential revenue channels as they begin offering their services to consumers.
The Digital Health Ecosystem report from Business Insider Intelligence discusses how medical device makers are turning to digital tech including RPM to navigate the market-wide shift emphasizing illness prevention over "sick care."
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