Wearables in Healthcare:

2016 Prospects and the Money-Saving Patient

+ alarming statistics: more than 1/3 of Americans are obese

+ most healthcare costs are due to chronic illnesses

+ patients are still struggling with the everyday management of chronic diseases

+ digital health strives to meet the needs of patients - who are increasingly taking health matters into their own hands

‘SO, WHAT BRINGS YOU IN TODAY?’

...OR THE ISSUES

+ digital health is likely to become mainstream in the current year, reaching its 2nd stage of disruption.

+ apps and wearable technology - the main drivers of the movement.

+ ITOnline study: 79% of Americans are willing to use a wearable to manage health.

+ ‘users might trust health apps more than their doctors’ – a Forbes analyst predicts.

‘HOW LONG HAS THIS BEEN GOING ON?’

...OR THE STATE OF THE DIGITAL HEALTH MARKET

Wearable technology in healthcare:

- the patient saves money: medical wearables may keep patients from going to intensive care units as often as they normally would, which would translate into significant savings.

- health apps and tracking equipment for the regular consumer also prove to be beneficial for health (especially prevention)

- a potentially profitable avenue for wearable tech businesses

1)MEDICAL-GRADE WEARABLES

A Misfit/Basis investor recently stated that medical-grade health wearables are likely to bring a higher ROI.

+ tracking the stats patients are most worried about, and presenting the results in a clear way to their doctors+ remote monitoring – especially for those who have trouble getting to the hospital+ sampling – blood sampling, or even sweat sensors+ warning systems linked to symptoms+ systems designed for the mentally ill, a hitherto neglected patient group

‘WHAT ARE YOUR SYMPTOMS?’

...OR READING THE BODY

+ Acquiring the stamp of approval from FDA (and keeping it) may not be an easy task. However, such wearables are more likely to be trusted by doctors, who sometimes voice concerns over regular wearable tech, considering them more to be fashion statements or gadgets.

+ If 66% of physicians state that they would prescribe an app to manage a chronic illness, FDA-approved devices might be even more welcome.

‘HOW ACCURATE IS YOUR EVALUATION?’

...OR FDA MATTERS

diabetes

congestive heart failure

hypertension

chronic obstructive pulmonary disease

common chronic

illnesses

‘WHAT CAN I HELP YOU WITH?’

...OR WHAT WEARABLES CAN HELP MANAGE

2) (MORE THAN) FITNESS TRACKING

Activity trackers definitely motivate people to stand up and move around more. This goes far beyond merely ‘fitness’ or ‘wellness’ – trackers are as much a part of digital health as ‘pro’ devices.

● Stanford University researchers: the use of a simple pedometer equaled ‘significant increases in physical activity and significant decreases in body mass index and blood pressure’.

● Physicians may end up prescribing even non-medical grade wearable devices, or suggesting digital health apps.

Even the simplest tracking tools have been shown to have an impact on health.

Though integrating more advanced sensors may cause the price of the device to go up, new functionalities – or better insight into what is already measured – may help a device or its apps to stay on the market. A more holistic view on the health and well-being of the user may be the future in this case.

Successful health wearables should aim to measure more than just steps or calories burned.

Another avenue might be to make use of the existing sensors, but to develop new apps that will shift the focus from wellness or fitness to rehabilitation programs designed, for instance, for post-operation patients, or those with disabilities.

+ A good solution is to allow consumers to compare their stats or results with their peer group. Fitness trackers and smartwatches are equipped with the ability to measure and compare health stats. + An important feature is gamification, or the competitive element. Even healthcare providers can integrate this into their programs. + Consumers gain more by improving their health, while the system gains by rewarding cost-reducing behaviors.

‘WHAT ABOUT YOUR ENVIRONMENT AND FAMILY HISTORY?’

...OR GAMES AND COMPARISONS

http://www.itnonline.com/content/two-thirds-americans-favor-digital-personal-health-managementhttp://www.cdc.gov/chronicdisease/http://www.forbes.com/sites/jenniferelias/2015/12/31/in-2016-users-will-trust-health-apps-more-than-their-doctors/2/#2715e4857a0b775cc3622936http://rockhealth.com/reports/digital-health-funding-2015-year-in-review/https://wtvox.com/wearable-tech/top-10-companies-leading-the-digital-health/http://www.forbes.com/sites/unitystoakes/2015/12/20/2016-predictions-digital-healths-second-wave-and-thirteen-transformative-healthcare-trends/#2715e4857a0b40bd28352112https://www.reportbuyer.com/product/3357066/global-wearable-medical-device-market-growth-trends-and-forecasts-2015-2020.htmlhttp://www.ncbi.nlm.nih.gov/pubmed/18029834http://www.forbes.com/sites/johnnosta/2014/04/09/be-healthy-and-get-rewarded-incentives-driving-engagement-in-health-and-wellness/#2715e4857a0b7a4ec7837142http://www.cdc.gov/obesity/data/adult.htmlhttp://mobihealthnews.com/content/investor-both-misfit-basis-says-medical-focused-wearable-companies-will-offer-better-roishttp://spectrum.ieee.org/biomedical/diagnostics/sweat-sensors-will-change-how-wearables-track-your-health

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