Wearable Technology: A Pool of Opportunities in Healthcare

Kutubkhan Bohari | July 19, 2022 | 661 views | Read Time : 08:58 min

Wearable Technology

Introduction

The field of smart wearable devices has advanced significantly in recent years as a result of the advent of mobile medicine, the development of new technologies like smart sensing, and the increased penetration of personalized health concepts. 

These Internet of Things (IoT)-based smart devices not only help people pursue a healthier lifestyle, but also offer a constant flow of healthcare data, which can be used for disease diagnosis and treatment, by actively recording, tracking, and monitoring metabolic status and physiological parameters. Wearable technologies have the potential to completely change the ways to monitor health behavior and are increasingly finding clinical implementation for patients with various types of diseases.

 

Wearable Technology: New Ways of Patient Monitoring

While wearable technology has demonstrated value in the fields of entertainment, fitness, and gaming, it is making inroads into the healthcare industry at a rapid pace. Increasing advancements in sensor technology and artificial intelligence (AI) are assisting millions of people in detecting and managing chronic health conditions and avoiding serious illnesses using devices that are as small as a patch the size of a penny or small enough to be worn on the wrist.

According to a study, nearly 320 million consumer health and wellness wearable devices are estimated to be shipped across the globe in 2022, and the number is likely to surpass 440 million units as a number of new devices come out and more healthcare providers start using them.

Most wearable devices, such as smartwatches, now include heart rate monitors, and some have FDA approval for detecting abnormalities such as atrial fibrillation, a major cause of stroke. As these devices become more intelligent, the percentage of patients and consumers who use them to manage chronic health conditions and diagnose symptoms of serious diseases is likely to rise. 

This is expected to assist the sales of wearable devices in healthcare to exceed $195 billion by the end of 2027, presenting huge prospects for healthcare equipment providers and associated companies to benefit from the opportunity.

 

The Future of Wearable Technology in Healthcare

Though wearable technology is experiencing rapid growth, the field is still considered to be in its nascent stage, presenting massive remunerative prospects for the manufacturers of smart devices, especially in the healthcare industry.

Hence, companies of all kinds, from giants to upstarts, are emphasizing on investing and developing new wearable devices with new features and functionalities to meet the surging demand for wearables across healthcare in coming years.


 

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HammondCare is an independent Christian charity specialising in aged care and dementia care, palliative care, pain, rehabilitation, older persons'​ mental health and younger onset dementia.

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HEALTH TECHNOLOGY

Components and Relevance of EHRs in Rural Hospitals

Article | July 21, 2022

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Role of AI and ML in the Healthcare Industry

Article | August 29, 2022

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HEALTH TECHNOLOGY, MEDICAL DEVICES

What are the Key Types of Healthcare Supply Chain Management Solutions?

Article | November 2, 2022

Introduction Within the last two years, the healthcare industry saw an influx in patient care as COVID-19 swept through communities across the globe. The widespread shortage of patient care tools, personal protective equipment (PPE), and medical technology amid the pandemic led to an exponential rise in health expenditures and demand for essential supplies. In response to the medical demand-supply imbalance, the governments of numerous countries increased their medical care expenditures to counter the challenges of patient care equipment shortages. For instance, according to the National Healthcare Expenditure Data, federal government spending on healthcare and medical care grew by 36% in 2020 and is estimated to reach US$ 6.2 trillion by 2028 in the U.S. Despite the rise in medical budget allocations, medical facilities are still facing difficulties obtaining enough supplies with the growing prevalence of numerous chronic, infectious, and hereditary diseases. As a result, organizations are focusing on deploying innovative solutions, such as healthcare supply chain management software, to keep track of inventory, procurement, logistics, and others and strengthen their supply chain. Healthcare Supply Chain Management Solutions: Key Types Healthcare systems, hospitals, and other patient care sites require a broad array of supplies to perform diagnosis and treatment, from masks and gloves to catheters and implants. Inadequate supplies coupled with inflation is making supply chain management a crucial but complex component in providing optimal patient care across the healthcare industry. This has shed more light on the role of supply chain management in saving lives. Effective supply chains help various regulatory agencies, including medical goods manufacturers and insurance companies, deliver essential supplies, resources, technologies, and other patient care goods to healthcare establishments. Supply chain management solutions are thus garnering massive traction among healthcare organizations for simplifying and automating manual supply chain and logistics operations. Let’s have a look at the types of supply chain management software that assist healthcare organizations to optimize their supply chain processes Inventory Management Software Efficient medical inventory management is critical for the running of healthcare organizations. The software provides real-time inventory tracking, assisting organizations in closely monitoring inventory changes, avoiding shortages of both low-value and high-use patient care items, decreasing the wait time for access to medical supplies, and reducing the chances of late delivery. Order Management Software It is crucial for healthcare establishments to have an estimate of the demand and supply of goods to prevent shortages. Order management software enables these organizations to coordinate supply chain demand planning and forecasting. It also assists in streamlining warehouse operations, resulting in faster and more accurate order placement. Sourcing and Procurement Software By tapping into the power of sourcing and procurement solutions, healthcare organizations can develop robust sourcing processes and automate, streamline, and optimize their entire procurement processes. The software also assists establishments in improving their supply inventory levels, identifying the best supplier, and reducing their overall purchasing cost. Shipping and Tracking Software Shipping and tracking software assist in the planning and execution of the physical movement of goods. These solutions are primarily used by medical equipment manufacturers and suppliers during the delivery or relocation of patient care goods. The integration of these solutions enables organizations to track and manage numerous batches of goods in transit. The Bottom Line Growing competition, healthcare regulations, shipping costs, and increased logistics requirements from medical institutions have complicated the supply chain management processes. As a result, life-science companies are investing in cutting-edge supply chain management solutions to reduce numerous errors, improve logistics, and eliminate unnecessary costs spent to fix them. Thus, several companies are now emphasizing the incorporation of cutting-edge technologies, including artificial intelligence and data analytics, into healthcare supply chain management software to reap benefits such as process automation, streamlined inventory, reduced waste, improved decision-making, and lower labor, supply, and operational costs.

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3 Key Considerations in Cloud Security for Healthcare Organizations

Article | February 12, 2020

With medical system consolidation and increasing numbers of medical records created, the need for digital access and storage is gaining steam. Digitizing records allows clinicians to improve accuracy and decrease redundant testing and studies, as well as reduce treatment delays. Greater availability of digitized records has other perks too. With vast amounts of accessible medical data, researchers can move public health studies forward, also potentially improving care and treatment of individual patients. As a result, cloud storage is taking off, though healthcare organizations are adopting it more slowly than other industries. According to a 2019 Nutanix report, 71% of healthcare organizations using cloud were considered the least mature – relative beginners – in that they were using fewer cloud services. Compare that figure to finance or retail, where 13% and 15% respectively were beginners. However, that is changing.

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HammondCare

HammondCare is an independent Christian charity specialising in aged care and dementia care, palliative care, pain, rehabilitation, older persons'​ mental health and younger onset dementia.

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LMHS, InVita, Lifeline Launch iReferral to Boost Ohio Donation and Transplantation

Licking Memorial Health Systems (LMHS) | January 31, 2023

On January 30, 2023, Licking Memorial Health Systems (LMHS) integrated with Lifeline of Ohio and InVita Healthcare Technologies to launch iReferral to automate its identification and Lifeline's electronic referral of tissue, organ, and eye donors. iReferral will automatically recognize suitable donors and trace the referral process from a hospital to the organ procurement organization (OPO). Apart from gathering information on workflow, nursing time, and returns providers, it will increase opportunities for transplantation and donation, adhering to the federal government's rules. With over 100,000 patients on the nation's waiting list for a life-saving organ transplant, CMS laws require hospitals to direct all potential organ and tissue donors to their federally designated OPO. LMHS Vice President of Acute Care Services, Heather Burkhart, said, "Our staff is constantly looking for ways to enhance the high level of care provided to our patients. The automation offered through iReferral expedites the donor referral process allowing our healthcare providers to spend more time with the patient and their family during the most stressful of times while securing positive outcomes for transplant recipients." (Source – Cision PR Newswire) LMHS President and CEO Rob Montagnese said, "The new system furthers LMHS' efforts to integrate technology that directly impacts patient care while also providing the gift of life to the more than 3,100 people across the state that are waiting for organ, tissue, and eye donations". (Source – Cision PR Newswire) President and CEO of InVita Healthcare Technologies, Todd Collins, expressed, "Congratulations to LMHS and Lifeline of Ohio on their iReferral launch. This successful collaboration deploys scalable technology that helps shift nursing and provider resources back to patient care and provides greater access to life-saving gifts for the many in need by ensuring the critical first step of the intricate donation process is streamlined and made more reliable." (Source – Cision PR Newswire) About Licking Memorial Health Systems (LMHS) LMHS is a non-profit healthcare organization that consists of Licking Memorial Hospital, a physician corporation, and the Licking Memorial Health Foundation. Licking Memorial Health Foundation is funding and developing resources for LMHS. It utilizes the best technology to help patients and visitors with their safety and healthcare requirements. Founded in 1898, it has its headquarters in Newark (Ohio). Licking Memorial Development Council, a committee of business leaders in Licking County, supports LMH Foundation.

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Sharecare Designs VR Program to Ensure Wellbeing of American Workforce

Sharecare | January 30, 2023

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Masimo and Philips Introduce Masimo W1 Watch As Part of a Global Partnership

Masimo | January 19, 2023

On January 18, 2023, Masimo and Royal Philips announced an extension of their partnership to expand the capabilities for patient monitoring in home telehealth applications. Masimo W1™ advanced health tracking watch will unite with Philips' enterprise patient monitoring ecosystem, advancing telemonitoring and telehealth. Masimo W1 is the first wristwatch to provide continuous, precise pulse oximetry measures and other health-related information. Masimo's secure health data cloud will transmit patient information to Philips' patient monitoring environment thereby, facilitating remote clinician monitoring. Hospital experts will remotely monitor patients' vital signs while they go about their regular lives. Physicians can confidently discharge patients, knowing that Masimo W1 will monitor their vital signs while Philips dashboards will scrutinize their physiological status. It will enable physicians and nurses to detect a patient's deterioration earlier and provide better care. This innovative combination of monitoring and networking technology will offer numerous opportunities, including early discharge initiatives, hospital-at-home programs, and the management of chronic illness. Bilal Muhsin, Chief Operating Officer of Masimo Healthcare, expressed, "Expanding our partnership with Philips in this way is a win-win for patients and clinicians everywhere, and is an important part of our multi-year plan to bring the best of hospital monitoring to the home while continuing to improve access to quality hospital care." (Source – Business Wire) About Masimo Masimo develops and manufactures innovative, non-invasive patient monitoring technologies, including medical devices and sensors. The company is making a measurable difference in the world by saving, extending, and improving the lives of people of all ages. For over 30 years, its innovative medical technologies and non-invasive patient monitoring solutions have solved 'unsolvable' problems. The result is a portfolio of clinically-proven products that lead the way in innovation, performance, and patient safety by giving healthcare providers the information they need to optimize clinical decision-making. Through the Masimo Hospital AutomationTM platform, Masimo connectivity, automation, and telehealth and telemonitoring solutions are improving and automating care delivery both in and out of the hospital.

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HEALTH TECHNOLOGY, MEDICAL DEVICES

LMHS, InVita, Lifeline Launch iReferral to Boost Ohio Donation and Transplantation

Licking Memorial Health Systems (LMHS) | January 31, 2023

On January 30, 2023, Licking Memorial Health Systems (LMHS) integrated with Lifeline of Ohio and InVita Healthcare Technologies to launch iReferral to automate its identification and Lifeline's electronic referral of tissue, organ, and eye donors. iReferral will automatically recognize suitable donors and trace the referral process from a hospital to the organ procurement organization (OPO). Apart from gathering information on workflow, nursing time, and returns providers, it will increase opportunities for transplantation and donation, adhering to the federal government's rules. With over 100,000 patients on the nation's waiting list for a life-saving organ transplant, CMS laws require hospitals to direct all potential organ and tissue donors to their federally designated OPO. LMHS Vice President of Acute Care Services, Heather Burkhart, said, "Our staff is constantly looking for ways to enhance the high level of care provided to our patients. The automation offered through iReferral expedites the donor referral process allowing our healthcare providers to spend more time with the patient and their family during the most stressful of times while securing positive outcomes for transplant recipients." (Source – Cision PR Newswire) LMHS President and CEO Rob Montagnese said, "The new system furthers LMHS' efforts to integrate technology that directly impacts patient care while also providing the gift of life to the more than 3,100 people across the state that are waiting for organ, tissue, and eye donations". (Source – Cision PR Newswire) President and CEO of InVita Healthcare Technologies, Todd Collins, expressed, "Congratulations to LMHS and Lifeline of Ohio on their iReferral launch. This successful collaboration deploys scalable technology that helps shift nursing and provider resources back to patient care and provides greater access to life-saving gifts for the many in need by ensuring the critical first step of the intricate donation process is streamlined and made more reliable." (Source – Cision PR Newswire) About Licking Memorial Health Systems (LMHS) LMHS is a non-profit healthcare organization that consists of Licking Memorial Hospital, a physician corporation, and the Licking Memorial Health Foundation. Licking Memorial Health Foundation is funding and developing resources for LMHS. It utilizes the best technology to help patients and visitors with their safety and healthcare requirements. Founded in 1898, it has its headquarters in Newark (Ohio). Licking Memorial Development Council, a committee of business leaders in Licking County, supports LMH Foundation.

Read More

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Sharecare Designs VR Program to Ensure Wellbeing of American Workforce

Sharecare | January 30, 2023

Sharecare, one of the leading digital health companies, has recently launched Get Active, a virtual reality program to make exercise an innovative, inspiring workforce towards well-being. This program reports 82% engagement and 280% increase in average exercise span in a week of the healthy and high-risk employees of Lennar Corporation, one of the significant homebuilding companies in the U.S. It gives immediate health benefits, improves sleep quality, immunes from chronic diseases, reduces anxiety and blood pressure, and reverses pre-diabetes. Dr. Pascal Goldschmidt, Chief Medical Officer of Lennar Corporation, said, "At Lennar, we believe deeply in empowering our entire workforce to be fit for adaptability – and physical activity is core to fulfilling that goal." He added, "While I was optimistic going into this pilot, engagement across the board exceeded our expectations and feedback from our highest risk associates has been very positive. Sharecare has demonstrated its continued commitment to innovation and driving sustained employee engagement, and we are excited to expand Get Active to more Lennar Associates this year." (Source – Cision PR Newswire) This program designs gamified physical exercise experiences for employees through Meta Quest 2. It paved the way for the well-being of the disabled and those who prefer home workouts over public gyms. Its virtual activity features stretching to basketball exercises with standing and seating positions. William Janis, Senior Vice President of Health Advocacy at Sharecare, stated, "We have a strong track record of investing in innovation, including VR, to improve our comprehensive wellbeing platform and the employee experience, and the initial feedback on Get Active from Lennar's Associates is both encouraging and inspiring." He added, "We are excited to differentiate our whole health benefits offering on behalf of our partners and their populations with a unique and approachable program that's fun and naturally engaging for employees of all fitness levels while improving outcomes and reducing costs." (Source – Cision PR Newswire) About Sharecare Sharecare is a prominent digital health company that provides comprehensive and personalized fitness and evidence-based programs with advice from health professionals. With the help of technology, it has innovated physical exercise by adhering to clinical protocols and utilizing updated coaching tools. It connects doctors, employers, updated digital tools, and health plans and provide quality information in one platform. It helps employers, service providers, health-conscious people, government organizations, and communities.

Read More

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Masimo and Philips Introduce Masimo W1 Watch As Part of a Global Partnership

Masimo | January 19, 2023

On January 18, 2023, Masimo and Royal Philips announced an extension of their partnership to expand the capabilities for patient monitoring in home telehealth applications. Masimo W1™ advanced health tracking watch will unite with Philips' enterprise patient monitoring ecosystem, advancing telemonitoring and telehealth. Masimo W1 is the first wristwatch to provide continuous, precise pulse oximetry measures and other health-related information. Masimo's secure health data cloud will transmit patient information to Philips' patient monitoring environment thereby, facilitating remote clinician monitoring. Hospital experts will remotely monitor patients' vital signs while they go about their regular lives. Physicians can confidently discharge patients, knowing that Masimo W1 will monitor their vital signs while Philips dashboards will scrutinize their physiological status. It will enable physicians and nurses to detect a patient's deterioration earlier and provide better care. This innovative combination of monitoring and networking technology will offer numerous opportunities, including early discharge initiatives, hospital-at-home programs, and the management of chronic illness. Bilal Muhsin, Chief Operating Officer of Masimo Healthcare, expressed, "Expanding our partnership with Philips in this way is a win-win for patients and clinicians everywhere, and is an important part of our multi-year plan to bring the best of hospital monitoring to the home while continuing to improve access to quality hospital care." (Source – Business Wire) About Masimo Masimo develops and manufactures innovative, non-invasive patient monitoring technologies, including medical devices and sensors. The company is making a measurable difference in the world by saving, extending, and improving the lives of people of all ages. For over 30 years, its innovative medical technologies and non-invasive patient monitoring solutions have solved 'unsolvable' problems. The result is a portfolio of clinically-proven products that lead the way in innovation, performance, and patient safety by giving healthcare providers the information they need to optimize clinical decision-making. Through the Masimo Hospital AutomationTM platform, Masimo connectivity, automation, and telehealth and telemonitoring solutions are improving and automating care delivery both in and out of the hospital.

Read More

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