24 January 2017 | News | By BioSpectrum Bureau
Vendors favour platform monitoring as novel service models disrupt APAC home health monitoring market
The escalating demand for home monitoring products such as remote patient monitoring (RPM) and mobile health (mHealth) has thrown the spotlight on the scarcity of sustainable business models. This issue has gained significance with vendors increasingly establishing partnerships and joint ventures with telcos, healthcare providers, insurance companies, governments and other stakeholders. The inherent risks in such relations can be mitigated by choosing a business model that can best tap the monetization opportunities.
"Asia-Pacific is moving towards a platform monitoring model for chronic disease management, wherein devices will be provided for free and the revenue will be generated from monitoring services and data insights," said Frost & Sullivan Transformational Health Industry Analyst Shalani Andria. "Despite the slow start to the market, savvy vendors are investing early as they detect potential for exponential growth once a funding model is established."
APAC Home Health Monitoring Market, Forecast for 2020, part of Frost & Sullivan's Connected Health Growth Partnership Subscription, finds that payers such as insurance companies will reimburse telehealth or offer it for free to policy holders to reduce hospital admission claims. Other topics covered by the subscription include health IT, 3D printing, video telemedicine, care assistance and automation robots, implantable electronics, and eHealth.