Gone are the days when healthcare home services for the aging population were a luxury only afforded by the elite and the rich. Fast forward to the current times; digitization has changed the course of many services that once were available only to the rich, now only one click away, open to everyone at an affordable rate and at any time. This same accessibility factor can be applied to the home care services of today.
In these modern times, ‘technology’ has become the driving factor and the primary catalyst of many industries, including the healthcare ecosystem’s evolution. This has massively improved homecare health services (medical and non-medical) and made caregivers’ lives significantly more manageable.
With COVID looming mainly over the aging population’s heads, technology has enabled remote patient monitoring, including automated monitoring of the patients through AI-infused systems. Safe to say, for healthcare homes and healthcare givers, the entire process has reduced the manual labor that they once had to go through. With custom software, wearable technology, and high-tech machines, they can overlook multiple patients without making numerous rounds.
Let’s look at the statistics that prove how lucrative this business is.
- The US home care services industry revenue in 2020 has been estimated to be $96.9 Billion, and according to Statista, it is recorded to be $97 Billion.
- Home healthcare providers drive more than 5 Billion miles per year.
- 70% of those availing the services of home care are above 65 years of age. In this age group, the most common medical conditions that have been recorded requiring home care are heart disease, diabetes, and cerebral vascular diseases.
- Over 1/3 of the persons have been recorded to have been needing in-house home care services because of specific disabilities or anything else like chronic health conditions. These people requiring assistance are below 60 years of age.
- 80% of those over the age of 60 choose to live independently, and this is why when they hit a certain age, they require in-house homecare services.
- Revenue forecast for 2027 is 515.6 Billion.
- According to Home Healthcare Market Scope in 2020, the market value has been estimated to be USD 303.6 billion.
- The global home healthcare market has been expected to grow at an annual growth rate of 7.9% from 2020 to 2027.
The above statistics must have given you an insight into the necessity and importance of home healthcare. These services aren’t going anywhere. If anything, with the accessibility factor amplified with technology, the demand will only peak, as depicted by the statistics above showcasing the projected revenue.
Finally, let’s move on to the positive and powerful impact of technology on today’s healthcare ecosystem.
Top 3 Technologies Changing the Game of Healthcare Home
There are multiple technologies completely changing the home healthcare game. However, we have narrowed it down to the top 3 that have truly made a difference.
Safe to say that technological advancements in-home healthcare have reached new heights of automation, ease, and success. Today, it has become relatively easy to determine the medical requirements and any other healthcare requirement through real-time data gathering through cutting-edge technology.
1. Remote Patient Monitoring Tools
COVID has highlighted the need for remote solutions. Not that they weren’t deployed and active already, but the remote solution ecosystem was weak as we speak. With the pandemic, the need for smart cities, schools, and hospitals, including remote person homecare services, was highlighted.
Remote patient monitoring solutions have been active and gathering data thanks to the wearable technology and perfect synced applications with the medical systems. This has made tracking of patient’s well-being relatively easy.
Not to mention, doctors can track the patient’s medicine intake without having to see the subject in-person. This miniature sensing technology can record and transfer data when the medicine is ingested – generally known as the ‘smart pill.’
You also have devices that can measure your blood pressure level, glucose level, heart rate monitoring, and many others – such as the convenience of wearable technology. In just a few clicks, you have real-time data of your patients.
2. Internet of Medical Things (IoMT)
Like the internet of things, the same concept is applied to IoMT: the medical devices are connected to one system, most likely that of the healthcare provider.
So what are the advantages do medical professionals and patients receive?
- The intake of medicine can be tracked remotely (read: Smart pill).
- Digital therapy can be applied successfully without facing any lags and successfully maintain a connection with your patients and vice versa.
- Humans are prone to errors, even medical professionals. With technology accurately recording and calculating the patient data, the room for mistakes is massively reduced.
Although we have been discussing remote and virtual medical attention throughout this blog, Telehealth is, in fact, an entire area that has been changing the course of the healthcare industry and proving to be the saving grace during the times of this pandemic.
From virtual healthcare assistance to online doctor consultations to everything medical available in a mobile app, the elderly seeking healthcare home services have doctors and nurses one finger touch away.
So what are the additional benefits given to us by Telehealth?
- Telehealth enables doctors and patients to move around and still stay connected instead of traveling to a gathering place like hospitals and clinics.
- The elderly, differently-abled, or anyone under any critical condition can call in for emergency or doctor-on-the-go with just a click on their app. The alert would engage ambulances to the patient’s live location through GPS tracking.
Of course, these are just the top 3 of the several technologies like blockchain, healthcare AI-chatbots, and Virtual Reality that have been improving the way the healthcare industry carries out its operations. Not only that, but we also have best home health care services provide the best assistance to the elderly with the help of these technological advancements within the healthcare industry.
Moving into 2021, we can see better and more refined versions of the available technology.