The potential of telemedicine for patients, healthcare professionals and service providers is huge, but largely untapped to date.
According to research by Parks Associates , only 11% of patient caregivers are using apps for medication management. Overall, 27% of current caregivers and 41% of future caregivers were "very interested" in a connected healthcare app that featured medication lists with reminder functions.
Appeal of App Features Among Future Caregivers (Future Caregivers in US Broadband Households)
Source: Parks Associates
"More than 115 million Americans will require caregiving assistance by 2020, and their caregivers will include both medical professionals and family members," said Harry Wang, senior research director, Parks Associates. "There is great potential for future growth in this area, along with other caregiver support solutions such as remote patient monitoring and patient communication and engagement tools."
The digital healthcare market in the US is worth about $15 billion per year, but service providers in the US, for the most part, haven't capitalized on the opportunities. (See Seen & Heard: Telemedicine Efforts Need a Health Check.)
The Internet of Things is well suited for telemedicine services and applications such as remote patient monitoring. Last month, AT&T tapped into its Internet of Things ecosystem for a new AT&T Foundry innovation center for Connected Health, which is located in Houston, Texas. (See AT&T Boots Up Connected Health Facility .)
Telemedicine can also use a large dose of big data analytics. While there's a plethora of healthcare data, it's currently fragmented.
"We need solutions that can leverage data and analytics in ways that help us understand health trajectories of individuals with precision and speed," said Ash Damle, founder and CEO of Lumiata, in a prepared statement. "We have an exciting opportunity before us -- artificial intelligence offers a mechanism to drive precise and efficient risk and care management at scale, as well as connect and empower all stakeholders -- from payers to caregivers to patients."
— Mike Robuck, Editor, Telco Transformation