Opportunities in Connected Health: Improving Patient Care, Reducing Provider Cost, and Enabling New Business Models

Payment for health care is moving from more traditional fee-for-service models toward value-based purchasing models. Changes in payment are also generally placing more risk and financial burden upon providers and patients. Generally, the changes are aimed to promote better health care outcomes and reduce health care costs. Advances in connected health technology may help facilitate greater capabilities for patients and their providers to detect early warning signs of ailments or health conditions, which may, in turn help ward off progression to levels that requires more acute and costly care. Several technologies now exist or are in development that are designed to help diagnose illness, alert providers and/or patients to certain early warning signs of illness or complications and continuously monitor certain vital signs. Moreover, connected health capabilities allow providers to monitor and interact with patients remotely. Increasing the instances in which patients are able to receive treatment and recover in less costly venues than hospitals and closer to their home, which not only reduces costs but increases patient satisfaction.