Ben Forgan – Forbes Council Member
Medicine has long been driven by data, from making diagnoses to prescribing treatments. Now, healthcare is taking a major step forward in the collection and analysis of high-quality data, thanks to the power of artificial intelligence (AI) and the Internet of Things (IoT).
IoT can be thought of as a device (or a network of devices) that connects to the internet, allowing data to be sent to whoever needs to use it. On a grand scale, the IoT consists of billions of devices and sensors—such as across a supply chain—that transmit a continuous stream of data. For business leaders in every industry, access to better, more accurate and real-time data enhances decision-making.
The Telehealth Explosion
The Covid-19 pandemic quickly accelerated innovation in the delivery of goods, services and solutions. The same ramp-up in innovation occurred in healthcare with the explosion in telehealth since the pandemic began.
Providers connected with patients via videoconference and used remote monitoring to avoid in-person doctor’s office visits to avoid a potential contagion risk. This transition was further supported by insurance payers, including the Centers for Medicare & Medicaid Services (CMS), which issued waivers that would allow payment parity for care delivered in-person or via telehealth.
Post-pandemic, virtual care will likely continue to be a mainstay. With greater acceptance by physicians and patients, alike, many office visits for routine follow-up and feedback could be eliminated. As telehealth expands, hospitals, physicians and other clinicians will likely turn to healthcare IoT applications to monitor, collect and analyze patient data in real time.
One example is Vheda Health, which uses its digital chronic management platform to manage high-risk, high-cost patients who are covered by Medicaid and Medicare. Its customized remote monitoring seeks to increase patient compliance in managing their chronic conditions, such as hypertension, diabetes, congestive heart failure, asthma and COPD.