Patient Engagement Technology an Innovative Tool for Healthcare Industry, End User Market Trends and Analysis – (Pricing, Replacement Trends, Selection Criteria, and Buying Behavior)
Patient engagement has become an extremely popular topic over the last few years. It has taken center stage in healthcare and is dominating almost every conversation and headlining several conferences in the field of healthcare. It is igniting interest of all the stakeholders in the healthcare industry physicians, health care professionals, providers, payers, technologists, planners and even the government. Getting patients engage in their healthcare process electronically is a crucial task and can be accomplished by using patient engagement technologies. Patient engagement technology (hardware, software, and services) enable patients and their representatives to be involved in their self-care. Engaging patients in their ‘self-care’ significantly increases understanding of their health conditions and allows patients to take informed healthcare related decisions. These technologs encourage patients to moderate their behavior in alignment with their agreed care plan and motivate self-care behavior. Implementation of patient engagement technologies allows organizations to quickly and securely share accurate time sensitive information with all the participants in the healthcare delivery process regardless of their role.
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Market Key Drivers:
Factors such as legislative reforms of the Affordable Care Act (ACA) in the U.S., demand for improved quality of care, the Meaningful Use (MU) program of federal government’s Office of the National Coordinator’s (ONC), increasing awareness of mobile health (m-health), enhanced worker productivity, rising aging population, and incentives by various governments for the adoption of patient engagement technology are driving the growth of the market. The benefits provided by patient engagement technologies such as cost reduction, reduction in hospital readmission rates, increased patient outreach, and improved quality of healthcare are resulting in an increase in the deployment of these technology. Furthermore, increasing focus on value-based medicine due to peer pressure and shifting focus towards patient centric systems is expected to drive the global market in the coming years.
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However, in spite of numerous benefits of patient engagement technologies certain barriers such as huge investments, lack of health literacy in a large portion of the population, fragmented end-user market, poor access to healthcare and security of patient data are hindering growth of this market.
Posted by Swapnil S Shitole