Providers of personal health technologies such as health monitoring devices and personal health records (PHR) are expected to generate more than $460 million in revenue by 2013 by targeting the disease management (DM) industry, according to Parks Associates’ report.
The report, Disease Management Industry and High-Tech Adoption, cites changes in the healthcare landscape combined with the Obama administration’s stimulus package and reform initiatives as catalysts for accelerated technology spending over the next five years.
“The drumbeat grows louder each day demanding transformation of our healthcare system,” says Harry Wang, director of health and mobile product research, Parks Associates. “The DM sector is subject to the same pressure and must act quickly or risk obsolescence in the face of competing care management models.”
Personal technologies such as home health diagnostic and monitoring devices, PHR, and Web and mobile communication applications will become competitive advantages, according to Wang.
“These tools will make DM services more effective and efficient, benefiting everyone from patients to payers,” he says.
