LONDON – The home health care industry can leverage critical data from connected health devices to improve patient care and drive efficiencies, but it’s up to medical device companies to help providers understand the value of the Internet of Medical Things, according to a new report by Deloitte UK Centre for Health Solutions.
“Medtech needs to be able to provide robust, reliable evidence on how the data generated can improve the efficiency and cost-effectiveness of care delivery, including ensuring that they address a problem that health care is trying to solve,” said Karen Taylor, director of Deloitte’s U.K. Center for Health Solutions.
The market for IoMT was created by the rise in the number of connected medical devices, together with advances in the systems and software that support the capture and transmission of medical grade data, connectivity technologies and services, said Taylor. That market is set to grow at an annual rate of 30.8% over the next five years and the amount of data points they generate is growing at a rate faster than the industry can analyze, according to the Deloitte report.
“However, while the IoMT has the potential to help alleviate some of the cost, access and care coordination challenges facing health care, the generation of data points through millions of connected medical devices will have little impact unless data can be turned into actionable insight,” the report read.
The medical device industry has an important role to play in helping to reduce costs, improve the quality and efficiency of care and support the shift to value-based care, but the industry faces a number of challenges, including developing an understanding of end users; developing new funding, business and operating models; understanding interoperability requirements; maintaining cybersecurity; maintaining trust in a digital age; and improving the adoption of medical technology at scale, among others.
“The potential of connected health will be dependent upon the way in which the use of devices is seen as an integral part of a health integrated service model,” Taylor said.“Medical device companies have to actually design solutions to a problem that health care has identified as needing a solution.”