How Healthcare Tech is Reshaping the Industry in 2020

How Healthcare Tech is Reshaping the Industry in 2020

Healthcare tech has always been a significant part of the industry’s focus, especially in finding innovative and more effective ways to serve patients. The reach of technological innovation in the industry continues to blossom and continues to play a role in almost all processes. From patient registration to monitoring sensitive data to self-care tools, healthcare technology is growing fast.

Devices like smartphones and tablets are beginning to replace conventional monitoring and recording systems in healthcare. People are now in control of deciding whether they want a full consultation to take place virtually in their own home or in person. The healthcare technology market continues to see advancements. It has led to services being taken out of the confines of hospital walls and integrating them with tech-friendly devices, like healthcare wearables.

Here are some ways that tech is reshaping the healthcare market in the new year and new decade.

Sensors and Wearable Technology

The Wearable medical device market is currently valued at USD 12.788 billion in 2019 and expected to reach USD 37.67 Billion by 2025 with a CAGR of 19.73% over the forecast period. Wearable medical devices and sensors are simply another way to collect and update data. They can be as streamlined as sending an alert to a care provider when someone’s heart rate rises or a bandage can detect pH levels to tell if something is getting infected. Those in the industry can take a lot of these data points to see if something is out of the ordinary or needs to be addressed immediately.

Mobile Health

Mobile health, or mHealth, is freeing healthcare devices and enabling physicians and patients to check on healthcare processes while on the go. Items like smartphones and tablets can allow healthcare providers more access and information and can be used for orders, documentation, and faster communication.

mHealth is also more than about connectivity as it has also become a tool that allows patients to become active in their treatment by getting connected to biometrics. For instance, a patient can take an EKG, connect it to their smartphone, then transfer it wirelessly. This is taking healthcare monitoring out of the office and out of the lab.


With the surge of the novel coronavirus around the globe, telemedicine has become more prevalent in healthcare. But even without a global pandemic, the innovation has been connecting patients in underserved, more rural areas, for example, with healthcare providers in other locations.

Telemedicine cost benefits are also worth mentioning as video consultations can provide patients with full assessments through a video chat with a physician. Claims are automatically generated, but the associated fees with office visits are reduced.

Self-Service Kiosks

Self-service kiosks can help to streamline the processes that go into everyday hospitals and healthcare providers. Patients can do everything related to registration without having to interface with anyone. This can end up helping with staffing savings, and some patients are more comfortable with this option. Automated kiosks can help patients with paying co-pays, checking identification, signing paperwork, and more. And while this technology is helping to personalize a patient’s experience, hospitals need to be cautious when integrating it to ensure human to human communication isn’t eliminated.

About Connected Risk Solutions

At Connected Risk Solutions, we use our expertise and experience to provide insurance information and programs to those who serve long-term care and senior living facilities. Since 2007, we’ve been offering insurance and risk management plans designed to help our agents give their clients the ability to achieve continued growth while simultaneously protecting against loss, containing costs and increasing profitability. With three offices to serve you in Chicago, Illinois; Phoenix, Arizona; and Burlington, Connecticut, we do everything we can to make your experience with us as professional and transparent as possible. To learn more, contact us at (877) 890-9301.

About Connected Risk Solutions

At Connected Risk Solutions, we provide our agent partners with bold solutions for comprehensive insurance and risk management that are unmatched in the industry. We have market connections and collective decades of industry experience, including deep specialization in healthcare liability and managed care E&O, cyber and tech liability, management and professional liability, as well as captive management and risk management. We strive to develop creative solutions no other wholesaler can match and to help our agent partners give their clients the ability to achieve continued growth while simultaneously protecting against loss.

Our specialists, located in offices throughout the country, are responsive and engaged. To learn more, connect with us.

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