Parks Associates research shows 25% of U.S. broadband households have used a health app in the past year
Dallas, Texas, April 9, 2014-International market research and consulting firm Parks Associates announced today it will host the first Connected Health Summit: Engaging Consumers on September 4-5 at the Omni Hotel San Diego, with keynote presentations from Qualcomm Life and Walgreens. This executive conference focuses on the mHealth and consumer-centric health and wellness markets and features industry thought leaders, networking opportunities with healthcare business leaders, and interactive panel discussions on increasing consumer engagement, producing better care outcomes, and growing revenues and building new business models in this expanding market.
Parks Associates research shows 27% of U.S. broadband households have used a provider or insurer website, averaging about 2.5 visits per year, and 25% have used a health app, with usage averaging almost four times per year.
"The digital health industry is at a decisive juncture for significant growth forward; rallying consumer demand and fostering industry collaborations through technology and care model innovations are crucial to its success," said Harry Wang, Director, Health & Mobile Product Research, Parks Associates. "The Connected Health Summit will bring together key healthcare stakeholders, including insurers, health systems, and physician groups, with their peers from technology companies, consumer brands, broadband service providers, retailers, and entrepreneurs to address the roles of connected health technologies and innovations in driving changes in consumer behaviors and care delivery models."
Connected Health Summit, with charter sponsors ADT, Care Innovations, Lowe's, and Z-Wave, features keynote speakers James R. Mault, M.D., F.A.C.S., VP and Chief Medical Officer, Qualcomm Life, and Adam Pellegrini, VP, Digital Health, Walgreens.
Sessions will include in-depth discussions on Parks Associates' groundbreaking research, including:
• 13% of U.S. broadband households are interested in virtual tools to manage medications, and 15% are interested in post-surgery virtual monitoring.
• Over 50% of U.S. broadband households with access to online services such as prescription refills, real-time video calls with a doctor, or appointments use these services.
• The number of U.S. households using video consultations for their care needs will increase to 22.6 million in 2018.
• By 2018, almost 135 million healthcare consumers will benefit from care practices following the accountable care principles. Among them, almost 20 million will be eligible to participate in a physician/hospital-led care program responsible for coordinating all their health needs and managing multiple chronic conditions.
• The connected health and wellness solution market will generate almost $8 billion in revenue in 2018 from selling hardware, software/apps, and wellness services.
• The market for senior-focused independent living solutions will grow 11% annually on average for the next five years, generating $1.4 billion in service revenues in 2018.
"2014 will be a pivotal year for consumer-centric healthcare solutions and services," Wang said. "The healthcare technology market is benefiting from a favorable policy environment, a groundswell of consumer interest, a brisk innovation cycle, and a growing eagerness among payers and providers for effective consumer/patient engagement."
Members of the Connected Health Advisory Board include:
• AARP - Lance Kilpatrick, VP, My Health Portfolio
• ADT - Amy Kabcenell, Sr. Director, Marketing, ADT Health
• Alere - Kent Dicks, CEO, Alere Connect, a division of Alere
• American Heart Association - Patrick Wayte, SVP, Patient and Health Innovations
• Ascension Health - Chris Young, VP, Ascension Health Information Services
• Care Innovations - Ray Solone, VP, Marketing
• Humana Wellness - Chris Nicholson, VP and COO
• Intermountain Healthcare - Craig Kartchner, Senior Director, Marketing
• Lowe's Companies, Inc. - Kristen Bowring, Director, Business Development, Smart Home Business Unit - New Business
• Meridian Health - Sandra Elliot, Director, Consumer Technology and Service Development
• Northwestern University - David Curtis Mohr, Ph.D., Professor
• Omron Healthcare, Inc. - Randy Kellogg, COO
• Qualcomm Life/Continua Alliance - Clint McClellan, Sr. Director, Business Development, Qualcomm Life; Chairman, Continua Health Alliance
• United Health - Bud Flagstad, SVP, Software Innovation and Technical Product Services, Optum
• Walgreens - Adam Pellegrini, VP, Digital Health
• Wellness and Prevention, Inc (J&J) - John Vander Meulen, VP, Health Plan Franchise
About Connected Health Summit
Connected Health Summit: Engaging Consumers analyzes the roles of connected health technologies and innovations in driving changes in consumer behaviors and business models. The event focuses on four areas of consumer health technologies in particular, which all require active consumer participation to be successful: remote health monitoring for accountable care, consumer-centric wellness and fitness solutions, independent living technologies and services, and innovative convenience care models.
The Connected Health Summit: Engaging Consumers will take place September 4-5 at the Omni Hotel in San Diego, CA. www.connectedhealthsummit.com. Follow the event on Twitter at @CONN_Health_Smt. Subscribe to Parks Associates' digital health newsletter at http://www.parksassociates.com/newsletters_subscribe.