STUDY: Digital Health Industry Market Potential $2.5B by 2012
DALLAS
A recent study by Parks Associates reported that while the digital health industry still faces formidable challenges in convincing private insurers to adopt home health monitoring technologies, vendors could still prevail over insurer resistance.
The study, titled Private Insurance and Digital Health Solutions, reports vendors can overcome this challenge by providing independently verifiable trial results and further educating insurers on the benefits of home health monitoring technologies.
“With U.S. market potential of $2.5 billion in device and service revenues by 2012, the home health monitoring industry has every incentive to convince private insurers, along with other potential payers, of the technology’s value and feasibility,” says Harry Wang, senior analyst, Parks Associates.
The study outlines 10 recommendations for vendors to strengthen home health monitoring technologies’ visibility and value proposition, including providing independently verifiable trial results, gaining recognition from the medical community, and presenting a practical plan that will prevent over-utilization of the technology.
The study’s analysis is based on January 2008 interviews with 20 senior executives from the private health insurance industry, 12 major findings and 10 key recommendations.
For more information about Parks Associates’ digital health research, visit www.digitalhealthnews.com.
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