May 12, 2010 15:13 ET

Patient Monitoring Sales Grow as Healthcare Looks for Cost-Cutters

NEW YORK, NY--(Marketwire - May 12, 2010) -  New technologies in patient monitoring are an important part of an overall effort to cut hospital stays and healthcare costs, through the use of information technology. Nearly all of these new systems can monitor patients remotely, process data, and even alert a healthcare worker if there is a problem, reports healthcare market research publisher Kalorama Information in its new title "Remote & Wireless Patient Monitoring Markets." As is the case with many areas of technology in healthcare, Kalorama expects the U.S. market for high-tech patient monitoring systems, valued at $5.7 billion in 2009, to experience impressive annual growth of around 26% through 2014.

New patient monitoring systems are emerging in response to the increased healthcare needs of an aging population, new wireless technologies, better video and monitoring technologies, decreasing healthcare resources and shortages of healthcare workers, and an emphasis on reducing hospital days.

Numerous studies in the United States and Europe have proven the cost benefits of patient monitoring, despite high initial costs to implement these systems. The Home-Care Management Systems study, partially sponsored by the European Commission under the Trans-European Network initiative and known as TEN-HMS, was the world's first large-scale, randomized prospective telemonitoring trial. The study showed that the use of home-based telemonitoring reduced the number of hospital days by 26% and led to an overall cost savings of 10% compared with nurse telephone support. Home telemonitoring also increased both patient survival and satisfaction.

From monitoring patient data, to processing that data according to the patient's disease state, to generating reports for the physician, and transferring the data to an EMR, these systems have demonstrated their cost effectiveness and ability to improve patient outcomes and satisfaction.

"Wireless technologies, Bluetooth, and mobile telephones are all being used to transmit patient monitoring data while reducing the clutter of multiple connections," notes Mary Anne Crandall, analyst for Kalorama Information and author of the report. "These range from using local area networks (LANs) in hospitals to using cell phones from a patient's home, which can give both patients and caregivers added mobility and efficiency."

Kalorama Information's "Remote & Wireless Patient Monitoring Markets" discusses three product areas: wireless and remote patient monitors, patient data processing applications and equipment, and EMR data transfer equipment and applications, which coordinate the flow of data to hospital electronic medical record system. It provides key information including market data and forecasts, product reviews, trends and issues, and detailed company profiles. The report is available at: http://www.kaloramainformation.com/redirect.asp?progid=79052&productid=2645944.

About Kalorama Information
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