How mHealth is Saving Lives… and Money

A newly released report by Deloitte’s Center for Health Solutions indicates that patients are beginning to trust their smartphones as much as they trust their doctors.

As MHW reported Tuesday, the $1.2 billion mobile health market is predicted to expand tenfold by 2018. This unfolding reality is poised to bring immense savings in productivity gains by “decreasing hospital admissions, better managing chronic diseases, and reducing the time needed for communication and data retrieval.”

The report from Deloitte projects that telehealth tools, home health monitoring devices, smartphones and tablets, and videoconferencing will expand the reach of physicians into a patient’s everyday life.

The result? Massive savings. All told, the gains could amount to $305 billion in savings due to “reduced travel time, better logistics, improved communications, and faster decision making,” EHR Intelligence summarized this week.

Commonly available tools like Skype allowed patients to conduct remote consults with their physicians, reducing hospital admissions by 24% and decreasing the average time spent in the hospital by 26%.  Remote monitoring tools reduced the cost of caring for elderly rural residents by one quarter, predicted to save an additional $200 billion over the next 25 years.

The report indicates that 62.7% of physicians who use mHealth applications in a hospital setting saw a notable increase in productivity.

“Health care stakeholders find themselves in an unusual position, eying the adoption of transformative technologies in an industry historically resistant to change and rooted in physical infrastructure, paperwork and forms, and outdated administrative procedures,” the study reads.

To learn more about the report in question, click here.

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