By Marc Toth, CM&AA
Volume 3 Issue 12 June 7, 2016
There is no question that healthcare technology plays a significant role in our ongoing healthcare revolution. Innovation in many areas, from telemedicine to electronic health records (EHRs), is driving an increasingly digitized virtual healthcare environment that is improving individual care, lowering costs, and ultimately impacting population health.
Within this world is the growing case for remote patient monitoring (RPM). RPM is a digital technology that can collect medical data from an individual in one location and electronically transmit it to another location for review, assessment, and recommendations for intervention. Most of us are familiar with RPMs through devices such as FIT Bit, but the healthcare market potential is much greater than simply tracking your calorie burn rate.
A few examples of RPM-type devices demonstrate the variety and importance of new technology:
Based on their analysis of available data, Frost & Sullivan predict that the RPM market in the US is expected to grow an estimated 13 % annually through 2020. It is also expected that RPM utilization will accelerate as the Millennial generation ages, since they are more likely to adopt the technology than Baby Boomers, who still prefer older, non-digitized medical care.
Given these developments, healthcare entrepreneurs and investors might want to consider the following:
The celebrated American author Eric Hoffer wrote that “the only way to predict the future is to have power to shape it.” Based on what is rapidly emerging in healthcare technology generally, and with RPM specifically, the shaping is well underway.
For more than 20 years Marc has held various leadership positions in start-up companies where his focus and expertise has been on commercializing sophisticated medical devices and positioning the company for strategic buyers. He has also been instrumental in raising B and C rounds of funding from private equity and venture capital groups and providing strategic analysis which led to the successful acquisition of several companies by key partners. During the acquisition process, he has led technology and human resource transition, including executive-level talent development and retention, succession planning, and a European integration. As a Certified Merger and Acquisition Advisor (CM&AA) and a Managing Director at VERTESS, Marc focused on medical device and healthcare IT trends and ingenious value building strategies for healthcare leaders.