The Internet of Things or IoT, a group of technologies that refer to networks of physical objects and devices that feature an IP address for internet connectivity, is beginning to give rise to the Internet of Medical Things, or “IoMT,” an emerging group of connected devices designed to serve the needs of the medical and health technology markets.
IO What? Get SmarterWhy This Matters
In 2000, about 10% of the world’s population were age 60 or over and in 2015 that had risen to 12%. By 2030, projections indicate that increasing to 16% by 2030, and to 22% by 2050.
As the size of this population grows and lives longer, its needs are also projected to rise. Medical costs and healthcare expenditures by the elderly are growing concerns among governments, particularly in the U.S. where they are driving healthcare debates as they continue to account for a higher share of budgets compared to those of other age groups.
The Centers for Medicare & Medicaid Services estimate that while the U.S. elderly population in 2015 was about 15%, it accounted for over a third of the total healthcare expenditures. Senior care needs better solutions as pressure mounts on governments, payers and manufacturers to reduce healthcare costs.
IoMT
Digital technologies, and specifically the Internet of Medical Things (IoMT), have a large potential to help, with medical buildings, infrastructures and devices that are already either connected or ready to connect to the Internet.
97% of hospitals in the U.S. have adopted wifi, and 10% of medical devices are enabled with wifi, according to Nexeon, a bioelectronics company developing active medical devices for the treatment of chronic medical conditions.
IoMT devices can help monitor ailments such as arrhythmia and can alert doctors to adverse events in real time like InfoBionic’s MoMe Kardia. Or monitors, like Cortrium’s C3 Holter device and Uber Diagnostic’s CardioTrack.
Virtual assistants can also assist seniors who live alone or require daily assistance and companionship, like Catalia Health’s Mabu robot or Intuition Robotics’ ElliQ robot, which just this past February raised $6 million. These advanced robots interact with seniors via voice and touchscreens, and help elders stay connected with their family and friends digitally–via social media platforms and video chat.
Various other use-cases and examples are developing. As technologies improve, their potential (read one research how machine learning/AI may be applied to prevent suicides) is poised to reimagine health care in ways that cannot even yet all be imagined today. Stay tuned.
Sources: Forbes, NexeonMed, Techcrunch
