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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.
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.
Dr. Tran has over 15 years of clinical experience in both Emergency Medicine and Primary Care and is the owner and operator of three Primary care clinics in the Greater Toronto Area since 2003. Dr. Tran was formerly Medical Director for Best Doctors Canada, Medical consultant with Eli Lilly and Dynacare Medical Laboratories.