United States Remote Patient Monitoring Market Growth Opportunities 2017-2019 - Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 2, 2019--The “Growth Opportunities in the US Remote Patient Monitoring Market, Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.
The report states that the overall RPM market is expected to increase at a compound annual growth rate of 19.8% from 2017 to 2023.
Remote patient monitoring (RPM) is gaining momentum as a variety of factors create a significant need for the value propositions that RPM promises.
RPM refers to the use of telecommunications technology to enable patient monitoring devices to collect, store, and forward biometric readings to a healthcare provider. This report focuses on RPM products and services that are provided to patients who are not undergoing an in-person evaluation or in a hospital. RPM is currently a component of telehealth.
This report reviews the significant drivers that are propelling RPM. For example, the aging population and the prevalence of chronic diseases among this demographic group, and challenges to providing access to healthcare for rural populations are driving the RPM use case. There have also been indicators that the US Centers for Medicare and Medicaid Services (CMS) is increasing the coverage for RPM on an annual basis.
The CMS has added CPT codes that are making RPM more favorable to providers. In addition, private payers are demonstrating more interest in RPM. It also is becoming attractive as a benefit offered by employer health plans. Employers can use RPM to decrease medical costs.
RPM will also serve to add new forms of real-time patient data that will be a vital component of population health management, clinical decision support systems, and new analytical models that will enable providers to develop better strategies to manage chronic conditions. RPM will also become a component of care coordination and patient engagement beyond the chronic condition and post-acute care models. Over time, RPM will become a vital tool for providers to improve the health of all patients.
The study also reviews the potential for RPM to be enhanced as artificial intelligence is deployed in the US healthcare industry. In addition, RPM will benefit as fifth generation (5G) wireless networks are introduced, though 5G will not reach its full potential for several years.
The evolving RPM market will consist of platforms and services that support integrated RPM systems based on the medical needs and technical capabilities of the patient. Providers have implemented RPM cautiously. However, US healthcare stakeholders are becoming more optimistic that RPM is poised to expand across the industry. This technology will progress from deployments based on avoiding readmission penalties to a scalable model that promises to improve outcomes for patients and lower the overall cost of healthcare.
RPM Offers Strong Potential to Improve Patient Outcomes, Reduce The Number of Hospital Re-admissions While Lowering Cost. According to the research, RPM is gaining momentum as a variety of factors are creating a significant need for the value propositions that RPM promises to offer.
Major questions this study will answer include:
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Introduction to RPM
4. Dynamics Catalyzing Growth
5. Mega Trends and Industry Convergence Factors
6. Market Drivers and Restraints
7. Forecasts and Trends
8. RPM Market Segment Analysis
9. Competitive Environment
10. Growth Opportunities
11. The Last Word
For more information about this report visit https://www.researchandmarkets.com/research/xtrl5r/united_states?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190402005463/en/
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Related Topics:Patient Monitoring Equipment
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SOURCE: Research and Markets
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PUB: 04/02/2019 04:28 AM/DISC: 04/02/2019 04:28 AM