Mobile Health Monitoring Promises to Cut CostsMay 12, 2010
Juniper Research projects cellular-based patient services could generate $1.9 billion to $5.8 billion in savings globally for healthcare providers by 2014.
HAMPSHIRE, UK /Marketwire/ -- According to Juniper Research's "Mobile Health Opportunities Report", public and private healthcare providers will be able to save between $1.96 billion and $5.83 billion in healthcare costs through the use of remote patient monitoring, using cellular networks, by the year 2014.
The U.S. and Canadian markets will generate the most cost savings, due to the inherent structure of their health systems, high healthcare costs, and more advanced remote monitoring roll outs. "The cost of a hospital bed, used as a proxy for cost, is much higher in the North American region, partly due to the role of health insurance in the U.S. healthcare sector," says Anthony Cox, Senior Analyst at Juniper Research and author of the report. "This has a direct impact on how much cost remote monitoring can save," he says.
Under both a base case and an optimistic scenario, mobile monitoring will save healthcare systems vast amounts of money in developed countries, finds the report, though the cost of mobile monitoring means that its deployment is questionable in developing regions.
Further findings from the mobile healthcare report include:
- Establishing the correct route to market for those selling mobile health services will be key to their success.
- In the past eighteen months, there has been a renewed interest in mobile health services from operators globally.
- The market for health and fitness mobile applications will thrive, eventually spawning a new market for advanced apps that integrate sensors worn on the body.
The report includes analysis of the current state of play in the mobile health services market and contains six-year forecasts for key areas within the mobile health sector and associated service revenues. Forecasts include the number of mobile monitoring events, revenues from mobile health monitoring, two scenarios detailing cost savings attributable to mobile health monitoring, number of health and fitness application downloads, and health and fitness download revenues.
The mobile healthcare whitepaper and further details of the study "Mobile Healthcare Opportunities, Monitoring Applications & mHealth Strategies 2010-2014" can be freely downloaded from the company's Web site.
About Juniper Research
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports, and industry commentary.
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