The pandemic has changed the way we conduct business and services in a variety of industries. One of the most major changes being the way healthcare providers are performing their services. Telehealth is exploding with investment and opportunity, a key opportunity for insurtech and insurance providers in the way of remote patient monitoring solutions.
What is RPM (Remote Patient Monitoring)?
RPM stands for Remote Patient Monitoring, a transformative way of providing healthcare. RPM involves using technology to monitor the health of patients without having to see them physically in a clinic or hospital. RPM technology allows for the capturing and transmission of health information between patient and clinical completely virtually. Remote patient monitoring is an important part of telehealth and telemedicine processes.
Why Does RPM Matter for Insurtech?
The future of healthcare and Insurtech alike, lies in telehealth and RPM solutions. Virtual, contactless RPM solutions provide a new way for insurance providers to collect healthcare data more efficiently and at a much less cost. While also allowing healthcare providers to give high-quality care to patients alike. Better quality care means higher fulfillment scores for patients, and a survey conducted by Healthcare Drive found that implementation of RPM solutions resulted in fewer patient admissions, saving costs in clinics and hospitals.
Furthermore the technology in the form of AI algorithms is constantly learning and improving resulting in fewer mistakes and errors. The market for RPM systems is said to be worth over $1.7 billion dollars by 2027. With 30 million patients in the United States alone projected to use remote patient monitoring tools by 2024. With positive market projections for the next 10 years, the RPM systems market provides a unique opportunity for investors and companies in the industry.
RPM solutions are the way of the future, and with a high ROI and more caregivers, clinics, and hospitals adopting them, it provides a unique opportunity for insurtech. The benefit to insurance providers is great.
Veyetals for Insurtech: An affordable, agile, and reliable RPM solution.
While physical devices like watches, fitness trackers and others, have been the driving force in the telehealth space. These devices can often be costly, bulky, and confusing to operate for new users. To combat this, veyetals, a wellness app developed by MarkiTech (Markitech.AI ™), in collaboration with Queen’s University Computer, Vision and AI Lab, uses a real-time health monitoring system to measure these biomarkers and more. Within 90-95% accuracy levels using your smartphone’s camera. veyetals is easy to access, use, and track information on, making healthcare more accessible to at-risk populations without the need for costly medical devices.
Veyetals is a free smartphone app for apple and android devices that can measure your oxygen saturation, among other vital signs like heart rate and blood pressure in under 60 seconds. The app just uses the selfie camera on your phone, or alternatively, your finger placed on the back camera.
Our cloud based, lightweight API allows veyetals to be integrated with the healthcare apps and platforms that matter to you most. The app is interoperable with other healthcare management systems including, but not limited to, SenSights.AI. veyetals drives information sharing with other health management solutions and further enhances the continuum of patient care.
Download our FREE app here
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