mHealth May Produce $305B in Productivity Savings by 2021
With the increased productivity that mobile devices offer the healthcare industry, a new report by the Deloitte Center for Health Solutions estimates that the industry will save $305 billion over the next 10 years.
"mHealth in an mWorld: How mobile technology is transforming health care" examines factors driving the adoption of mHealth and opportunities it presents to lower costs and improve patient outcomes.
Some of the key points related to mHealth in the report include:
• The capabilities offered by mobile technologies are fast being appreciated by the healthcare industry with a raft of devices, sensors, apps and other programs being developed that target chronic conditions, telemedicine and remote monitoring, patient data capture, electronic records, e-prescribing and the parallel industries of fitness and wellness.
• Analysts expect the mHealth market's value will increase to $11.7 billion by 2018, a compound annual growth rate of 39 percent. The market was estimated at $1.2 billion in 2011.
• mHealth holds promise for improvement along the value chain — maximizing professionals' time and productivity, improving quality, increasing access and equity, stimulating greater consumer involvement and potentially decreasing costs.
• The extent to which stakeholders create user confidence through adequate privacy and security protections will play a key role in accelerating or retarding the adoption of mHealth and the realization of benefits.
To view the report, click here.
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