Nowadays it is common for doctors to connect medical devices via networks to patients. According to Experts Forecast, the Internet of Medical Things, or IoMT is a big market that will exceed $136.8 billion by 2021.
What we love about IoMT is that it gives doctors lots of advantages and their patients. That is fast and more-accurate diagnoses, efficient healthcare service delivery, and cost reduction. These are just a few ways that IoMT benefits the medical industry.
In this article, we look at the benefits and problems of IoMT in the healthcare industry.
Definitions of Internet of Medical Things (IoMT)
The IoMT is a subcategory of the Internet of Things. The Internet of Things (IoT) has many submarkets that have evolved.
With IoMT Technology, medical devices and machines can collect, analyze, and send data using stable internet connectivity. In other words, IoMT enables medical apparatus and products to show real-time data with doctors on the status of the patient. Here's a breakdown of the IoMT application.
Application #1: In-Hospitals and Clinics
Hospitals and clinics are the biggest users of this technology because it improves healthcare quality while reducing the cost.
The technology can monitor patients and it can also be used in MRIs, X-ray machines, and CT scanners. The doctors can also use this and other medical equipment remotely to monitor things without physically being there.
Before the medical staff realizes any problem, the service provider will detect problems that need to be corrected. Big companies such as GE, Siemens, and other companies use the Internet of Medical things to diagnose conditions remotely, carry out routine maintenance and upgrades.
Application #2: In-Home
The Internet of Medical Things (IoMT) also extends to homes. Using a Medical connectivity technology such as telemedicine, patients can still receive services from doctors beyond the hospitals.
For instance, Remote Patient Monitoring (RTM) ensures that patients with chronic diseases get the help they need without visiting a hospital. This is a great technology for monitoring patients with heart and diabetic conditions. Besides that, it also alerts the doctor when it detects a problem with the patient.
We also have Virtual Home Assistants (VHA) that can take care of elderly parents and remind them to take their medicine and also send reports to family members and physicians.
Application #3: On-the-Body
Today we have biosensor technology that comes in the form of wearable smart devices to monitor your patient's health. They can be attached to the skin, worn on the hands, or the the patient's body.
These devices make patients have freedom concerning their health while monitoring their health conditions. The cost of sensor technology has reduced and this makes it possible for IoMT manufacturers to build healthcare-related products cheaply.
The Biosensors market is expected to be a $29 billion industry by 2024. These devices depend on biological material and sensors to know the characteristics of blood, respiration, tissues, organs behaviors, and different parts of the body
Benefits of Internet of Medical Things (IoMT)
Benefit #1: Accessibility
One thing that a patient craves for is a doctor's attention when he or she needs one. For the doctor, they will need information in real-time to solve medical issues before they even get worse.
The good news is, the Internet of Medical Things (IoMT) provides a patient and a doctor the accessibility they want in real-time. Instead of visiting the patient's room, a smart cardiologist will monitor the patient's heart conditions using his or her phone. And they can do that in any part of the world.
Insurers can also view patients' data, therefore, processing the claims fast. Patients can also monitor their data.
Benefit #2: Cut Down the Cost
According to Goldman Sachs, the IoMT will reduce the healthcare cost and save the industry at least 300 billion dollars. The main reason for this is because the IoMT allows and processes patients' data fast, therefore increasing efficiency.
This will save both the doctor and nurse their time so that they can do the most important things. With RTM systems, a patient can stay at home, therefore, reducing the costs of the office visits and hospital beds.
Lastly, remote monitoring will also allow the doctor to know the upcoming symptoms in a patient and treat them before they are severe.
Benefit #3: Easy and Quick Implementation
IoMT devices are easy to use and implement. With small and wireless IoMT sensors, patients can check their information in real-time. One does not need to be an IT expert to use these devices.
Benefit #4: Improved Efficiency
IoMT improves efficiency in the healthcare industry. But that’s not all. The biggest problem patients complain about is the time especially when they go to see a doctor. The case is also true for a patient who visits an emergency room.
Improving efficiency in healthcare is important because it will improve patient experience and even build trust with the institution.
How Outsourcing Insight Can Help You With IoMT Outsourcing?
The only challenge this industry faces is oversight. If this industry is going to mature, it will need to create its standards. At the moment, the only standards available are the security of Patient Health Information. There are no laws that compel companies to build interoperable medical devices.
For instance, if you look at Europe, it has laws that regulate medical devices but none that are about standardization. If IoMT is going to exist or the rise of smart hospitals, we are going to need a serious standardization policy in the industry.
You have seen that IoMT is getting bigger and bigger. It is something that is going to change the medical industry and even reduce the cost of healthcare. Despite all the challenges it is facing in the early stages, you can outsource IoMT projects today.
Outsourcing insights will provide several technology solutions including IoMT. We have wide experience and experts in IoMT software development, AI, and cybersecurity. Why not start a conversation with us so we can understand the needs of your organization.