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News

New generation of patient monitoring systems earns $3.9bn

Kalorama Information : 10 April, 2008  (Company News)
The new generation patient monitoring (PM) systems earned an estimated $3.9 billion for device manufacturers in 2007; and this could more than double in five years, according to a new market research study published by Kalorama Information entitled ‘High-Tech Patient Monitoring Systems’.
The study says that an ageing population and a shortage of healthcare workers is driving the development of systems that can monitor patients remotely, process data, and even alert a healthcare worker if there is a problem.

The diseases that make up most of US healthcare spending – asthma, COPD, congestive heart failure, chronic heart disease and diabetes –are also among those most amenable to patient monitoring. And better PM systems mean that patients can leave the hospital sooner, thus reducing costs. Given this demand, manufacturers such as Honeywell, GE and Abbott have raced to add wireless communication, data processing and web interfacing features. These features enable the systems to gather, sort, and drop data into a patient’s electronic Medical record (EMR) for future review.

But most useful are the intelligent PM systems that can ‘read’ the data based on pre-programmed algorithms for a patient’s specific condition, and can automatically report to a healthcare worker or physician when measurements are abnormal.

“Data is important, but if your system only gathers data, you are just increasing the burden on the workers who have to then interpret that data,” said Melissa Elder, analyst for Kalorama Information. “The smart PM systems know that when a pre-defined number is hit, it is time to call the doctor.”

Some systems can even take patient care a step further, incorporating built-in video and audio interfaces so that the patient and physician can speak.

The Kalorama Information report High-Tech Patient Monitoring Systems covers the new generation of patient monitoring devices, as well as the data processing software and EMR interface software that are crucial to these systems.

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