Showing posts with label Healthcare Market Overview. Show all posts
Showing posts with label Healthcare Market Overview. Show all posts

Thursday, July 5, 2018

Rise Of Telemedicine Healthcare Market Outlook-Ken Research


Telemedicine is the use of information technology and telecommunication to provide clinical healthcare from a distance. Telemedicine has been prevalent since the last decade but has seen a huge upsurge in the recent years across the global healthcare sector. Telemedicine is a revolutionalizing technology that provides healthcare right at the doorstep of the patient. Telemedicine makes use of technology like emails, phones, video conferencing and for exchanging the medical information of the patient with the healthcare provider. Health Care Market Research Reports views the global telemedicine industry to grow at a CAGR of approximately 18.4% for the period of 2017-2022. This technology is being extensively used by elderly people and a patient suffering from chronic diseases for whom travelling to hospitals or clinics is not viable given their condition. The use of this technology has also been expanded to rural areas where adequate healthcare system is not in place and even involving critical situations requiring expert advice.

Telemedicine is highly beneficial for people in remote areas of the world where proper healthcare setup is not in place. People can make great use of this technology to consult doctors and healthcare providers without having to travel all the way to these far off locations. Health Care Industry Analysis reveals that there have been many instances where the disease has been transmitted from the patient to the medical staff. Technology such as telemedicine has eliminated the risk factor keeping the medical staff out of harm’s way. Remote monitoring and analysis services and electronic data storage significantly reduce the healthcare cost for both the providers and the patients. Telemedicine also reduces the non-urgent ER room visits and eliminates transportation expenses for regular expenses thus driving up revenue. Researchers suggest that an ageing population is one of the main reasons driving the growth of this industry. Currently, one in seven people currently in the US are above the age of 65 or above. By 2040, this number is expected to double comprising more than 20% of the population. With a huge elderly population, the growth of this industry is inevitable. Combined with these demographics, the increasing unhealthy modern lifestyle has slowly increased the population’s vulnerability to chronic diseases. In order to tap on this opportunity, healthcare providers are looking for ways to improve efficiency and while simultaneously reducing the number of physical infrastructure which can be easily accomplished with the help of telemedicine. Hence, this has also caused the telemedicine industry to boom.

The top companies operating in the telemedicine industry are Careclix (US), Doctor on Demand (US), Mytelemedicine (US), Teladoc (US) and icliniq (US). icliniq Is currently operational in India via its Bangalore and Coimbatore office. Telemedicine has also laid down its foot in the Indian market with major firms namely Gem3S Technologies, Global Med, HD Medical and Indian Health Organization. These companies are at the top of their market however; this is just the top of the iceberg. There are numerous international and national companies operating in this domain.
With the key growth drivers having an impact on this industry, the scope of this sector could prove to be limitless. In the future, the mobile technology will play a key role, with patients accessing live video doctors on their smart phones. Telemedicine doctors will be able to call up the health records with the touch of a finger while shifting seamlessly between physical and virtual waiting rooms.

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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249

Wednesday, July 4, 2018

Transforming Patient Access Solutions Market Outlook-Ken Research


The term ‘Patient Access’ is broadly used to define as barriers to healthcare as lack of insurance coverage. High deductable health plans and financial limitations. However, these are traditionally termed as front end operations of revenue cycle. Patient access begins with the first point of contact that begins with initial encounter where the staff confirms patient identity, verify insurance coverage provide estimates of ordered services and more. Healthcare industry is currently focusing on streamlining and improving the performance of patient access as accuracy on the front end has proven to reduce bad debts and denials after the patient is either in process or completed the treatment. Technology is a key factor that allows visibility into insurance benefits and other essential sources of information. Patient access solutions comprise web based platforms that deals with electronic medical verification and claims processing system. This system allows the healthcare providers to manage their patient information, access the information in-house/remotely. This service expands beyond traditional healthcare to home, dental, veterinary and chiropractic industries. HealthCare Industry Research Report reveals that the global patient access solutions market is expected to grow at a CAGR of 7.7% for the period 2018-2022 and reaching approximately USD 2 Billion by the period end.

As patients engage first with the healthcare system, easy access to all the key information is what he or she looks forwards to. With introduction of healthcare reforms, rising patient bad debt, patient access has become the first line of defense to proactively provide patient access solutions and reach a healthcare bottom line. Health Care Industry Analysis suggests that the Patient Access staff is responsible for 80 cents of every dollar coming into a hospital facility. The features and advantages to these solutions are innumerable. Appointments can be scheduled into a single interface to improve workflows and enable patient workflows. Patient access solutions allow patients to fill open appointment slots by enabling patients to easily search for opportunities and to self schedule. These solutions allow healthcare providers to move payment cycle to the front of the revenue cycle. It allows patient to determine out of pocket expenses by comparing cash prices with real time specific member eligibility and other information. The goal is to holistically integrate patient access within the revenue cycle for optimal performance and better servicing the needs of the client. This includes human resources, education as well as integration of scheduling within the billing cycle to create personalized care for patients.

The patient access solution market is dominant in the developed countries with high disposable income and technological access. This industry has its roots in the US. Prominent players in the patient access solutions market are The Advisory Board Company (US), McKesson (US), Epic Systems (US), Cerner (US), Cognizant (US), Experian plc (Ireland), Optum, Inc. (US), Conifer (US), Craneware, Inc. (UK), The 3M Company (US), The SSI Group, LLC (US), ZirMed, Inc. (US), Cirius Group, Inc. (US), and AccuReg Software (US). These services are not yet provided actively in India but with recent technological upsurge, this might set its foot in the country in the near future.
As technology further expands to the other developing nations, this market shall see an overall increasing growth rate, globally. The goal of Patient Access is to educate and support individuals – patients, staff and providers – on their journey to deliver comprehensive, quality health care services. Accessing quality care can yield many benefits, including improved physical, social and mental health status through prevention of disease and disability, detection and treatment of health conditions, higher quality of life, preventable death and longer life expectancy.

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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249

Thursday, June 28, 2018

Optical Diabetes Detection Market Outlook-Ken Research


Diabetes is among the most rapidly rising ailments today. Market research reports for healthcare estimate that around 390 million people could possibly be suffering from diabetes with half of them not being properly diagnosed at global level. Already developed equipment for easily testing blood sugar level at home involves a drop of blood. More research has now led to simple devices that perform the same function without having to prick the finger for blood. The medical field is highly incorporating technological developments into its procedures. Furthermore, big tech giants like Google are also working towards integration of technology and medicine. One of the results of this is the Google Contact Lens.

Until recently most of the devices that were used to check the blood sugar level relied on a drop of blood. This drop when fed into the device would generate the result. Healthcare industry research reports reveal that devices like Accu Check and blood sugar test strips are popular. Google has now moved beyond the primary requirement for blood whilst retaining functionality. Google Contact Lenses do not require blood but instead rely on tears and water released from eyes for calculating and monitoring the glucose level whilst enhancing the vision of the wearer. The lens consists of a wireless chip and a miniaturized glucose sensor. A tiny pin hole in the lens allows the tear fluid to seep into the sensor to measure the blood sugar level. Both of the sensors are embedded between two soft layers of lens material. The electronics lie outside of both the pupil and the iris so there is no damage to the eye. The wireless antenna present in each lens communicates the information to a wireless device. The prototype being tested can generate a reading once per second. Smart contact lenses are one of the most anticipated IoT (Internet of Things) technologies. Similar developments are taking place in certain regions around the world where the companies have managed to get patenets.

Scientists from Uisan National Institute of Science and Technology in South Korea have developed a soft and flexible contact lens that will allow diabetics to monitor their blood sugar level with the blink of an eye by analyzing their tears and using LED pixels in the device. The developers have laid extra focus on improving vision and comfort of the wearer.

Oregon State University professors from the US are researching a bio sensing contact lens that has an ultra sensitive bio sensor that can detect the lowest glucose concentrations present in tears. After being fully developed the technology would transfer the information to a smart phone or other WI-FI/Bluetooth devices. Swiss pharmaceutical giant Novartis teamed up with Google to develop the Google Contact Lens. Many other companies are also planning to enter the sphere of smart contact lenses despite modest developments. Google’s development is leading the way for several others. Technology is being developed that will work in similar fashion and detect oxygen levels, pulse rate and even the presence of cancer.

From an analysis of ongoing research we can conclude that there are two main objectives of modern technology which are firstly, to increase monitoring and secondly, to integrate technology and medicine. The researches that best prove this fact are being carried out by some of the most technologically advanced countries in the world led by the US and South Korea.

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Related Report:

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249