Competitive pressure and congressional stimulus funds drive adoption
Providers of personal health technologies such as health monitoring devices and personal health records (PHR) can generate over $460 million in revenue in 2013 by targeting the disease management (DM) industry, according to Parks Associates' recent report Disease Management Industry and High -Tech Adoption. The international research firm 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," said 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."
Wang says technology vendors that are familiar with the unique characteristics of the DM business and can show the clear and immediate benefits of their solution within this context will be in the best position to win these contracts.
"Personal technologies such as home health diagnostic and monitoring devices, PHR, and Web and mobile communication applications will become competitive advantages for a new breed of DM companies," Wang said. "These tools will make DM services more effective and efficient, benefiting everyone from patients to payers."
Disease Management Industry and High -Tech Adoption is Parks Associates' latest research report about the future of the disease management industry. It highlights challenges and opportunities and discusses technology's role in driving innovations in new care management models.
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About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start -ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.
The company's expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, and home control systems and security.
Each year, Parks Associates hosts executive thought leadership conferences CONNECTIONS™, with support from the Consumer Electronics Association (CEA®), and CONNECTIONS™ Europe. In addition, Parks Associates produces the online publication Industry Insights in conjunction with the CONNECTIONS™ Conference series.
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