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New Study: the Latest Technological Innovations for Homecare
Crowdfund Productions conducted a study to identify new trends in the homecare technology industry.
The goal of the research was to collect opinions of the industry participants about the latest homecare trends, roadblocks to the market growth and ideas about the future of the industry. CEOs of twenty-six companies responded to the survey. While all the respondents have been in business for several years, only one company, Neofect (http://www.neofect.com/)
Here are some of the findings:
All the participants consider the homecare technology market to be highly competitive. At the same time, according to Matt Ferguson from AFX, (http://www.AFX-
According to the industry insiders, among the major obstacles to the industry growth, the main one is government regulations, followed by cyber security risks and the lack of qualified medical personnel. "I cannot over-stress government regulation. While we do have cash customers, most of our patients rely on Medicare and insurance to cover some if not all of the home healthcare equipment. Government regulations can dramatically shift our industry." (Brandon Fonville, Aeroflow Healthcare (http://aeroflowinc.com/
The leaders of healthtech companies see the main benefits of their innovations in solving the shortage of healthcare personnel problem, expanding geography and demographics of high-quality healthcare, offering better decision-making tools for physicians and independent living opportunities for seniors.
Speaking of the major industry players, the respondents named three companies which they expect to have to major impact on the future of healthcare technologies:
On the scale from 1 to 5 (one being disastrous and five – fantastic experience), the participants rated their communications with healthcare providers at 3.2 and with insurance companies at 2.8. Several of them mentioned difficulties of dealing with legacy systems and the industry conservatism.
Another area of potential synergy which has been actively explored by a significant number of the respondents is the Internet of Things. Several companies-participants have researched the possibility of their device integration into the smart home systems to provide more organic experience to their users.
With the world population getting older, the demand for homecare will continue to grow. At the same time, the number of primary care physicians is falling. The situation is especially critical in rural areas, urban slums, and developing countries. Artificial intelligence, augmented and virtual reality, telemedicine, robotics, and biotech are becoming essential tools to increase operational efficiency, quality and reduce costs of care leading to improved quality of life for millions of seniors around the globe.
To learn more about the study results, contact Crowdfund Productions: