Rapid growth and skepticism
Two recent studies are projecting huge growth in remote patient monitoring over the next few years but one of those studies shows that some providers aren't completely sold on the idea.
A July 2013 report from Juniper Research predicts that remote patient monitoring is poised to take a major leap forward during the next five years. The report projects "cumulative cost savings from remote patient monitoring of up to $35 billion [worldwide] over the next five years as the healthcare industry moves to accountable care." The growth will be fueled in part by the expansion of healthcare apps, which are expected to have 96 million users by 2018 compared to 15 million in 2013.
But another recent study shows healthcare providers aren't so sure how effective remote patient monitoring programs will be, at least in terms of being a good business model. A study conducting by Spyglass Consulting Group found that 55% of ACOs in the United States are using some type of remote monitoring system and predicts the practice is poised for "robust growth" over the next several years.
The study also found that 71% of organizations surveyed expressed concerns about integrating remote patient monitoring technology with existing clinical information systems and electronic health record systems. And 50% of executives surveyed questioned the clinical effectiveness of remote patient monitoring technology and whether the costs of operating the systems will outweigh the cost savings they generate.