In 2020, we saw the rapid adoption of single-device wireless patient monitoring. Its use accelerated significantly during the COVID-19 pandemic due to the need to reduce close contact between patients and healthcare providers, but usage has continued to expand in 2021.
More than 23.4 million patients were being monitored with wireless patient monitoring devices in 2020, creating a marketplace for wireless patient monitoring valued at $23.2 billion. As the population continues to age and create additional demand, the market is expected to grow to $117.1 billion by 2025.
The Benefits of Wireless Patient Monitoring in Home Care
Rather than health insurance, wireless patient monitoring provides health assurance. Patients know that someone is monitoring their health in real time. This provides a level of comfort and peace of mind, as they know that they will be alerted in case of changes that might lead to an adverse reaction.
It also leads to significantly better compliance among patients. Rather than having to use multiple devices and record their readings, they are monitored continuously. This makes it easier for patients, but it also shows them the impact that certain behaviors have on their vital signs. Patients become more aware of what triggers exacerbations and are more likely to avoid these events.
AI and predictive analytics in wireless patient monitoring devices can constantly compare vital signs against baseline readings. Since data is collected continuously and in real time, large data sets are developed. These make it easier to spot and track anomalies and provide early warnings of potential problems.
Wireless Patient Monitoring Creates Better Outcomes
Patient monitoring can provide more cost-efficient healthcare and reduce the number and frequency of in-patient visits and hospitalizations.
The research bears this out. According to a KLAS Research report, 25% of healthcare organizations say that remote monitoring reduces ER visits and readmissions, and 28% link wireless patient monitoring to fewer inpatient admissions.
Patients using wireless patient monitoring had:
- Fewer hospital admissions
- Fewer readmissions
- Fewer ER visits
- Improved patient satisfaction
- Improved medication compliance
- Improved patient health
Healthcare providers embracing wireless patient monitoring also reported quantifiable cost reductions.
Other research report findings demonstrated these results across various applications. For example, one hospital group reported that it was able to reduce readmissions to just 2% using remote patient monitoring, compared to an industry norm of approximately 15%. A pilot program in Texas saw a 51% reduction in readmissions related to heart failure and reported savings for healthcare providers of $10.3 million.
Yet another study showed that the combination of remote patient monitoring and telehealth can reduce patient mortality by up to 45%.
Wireless Patient Monitoring from Oxitone
The Oxitone 1000M is the world’s first FDA-cleared wrist pulse oximeter, providing the continuous monitoring of vital signs and media data. Rather than juggle multiple devices in a remote monitoring kit, such as blood pressure, oximeters, thermometers, etc., the Oxitone 1000M sits comfortably on a patient’s wrist and gathers all the necessary data without requiring a fingertip probe.
With the Oxitone 1000M wireless patient monitoring device, there is no manual recording of data, no errors in reporting, and no worries about patients forgetting to check their condition. This improves data accuracy and relevancy, whether patients are monitoring chronic conditions at home, in a nursing home or care facility, or in the hospital.
Artificial intelligence (AI) and predictive analytics track conditions against baseline and warn of potential adverse reactions for patients and healthcare providers.
The Oxitone 1000M monitors:
- Blood oxygen (SpO2)
- Pulse rate and heart rate variability (HRV)
- Skin temperature
- Sleep patterns
- Motion and activity
Used extensively for chronic patient care and recovery from acute illnesses, wireless patient monitoring securely transmits data to the cloud and AI tools. Caregivers can monitor patient conditions using nearly any internet-connected device.
An advanced, integrated Software as a System platform provides a secure physician portal with API integration, data delivery on demand, and data analytics tools. Data visualizations can provide a quick reference to show anomalies. Color-coded notifications track when conditions worsen for closer monitoring.
Patients can also monitor their symptoms using an app to track real-time digital biomarkers. By tracking current conditions, historical data, and comparative baseline results, patients can do self-assessments and avoid putting themselves at risk.
Real-Time Medical Intelligence
You get real-time medical intelligence and the identification of a patient’s risk status continuously and automatically.
Healthcare providers can easily follow up on a thousand patients with one click. You can track every patient in a practice that is connected to an Oxitone 1000M wireless patient monitoring device, every patient in a hospital or care facility, and every patient in a nursing home.
All of this provides better real-time data to make more informed decisions about health care.
Here at Oxitone, we boost value-based healthcare by delivering extraordinary patient, clinical, and economical outcomes at reduced medical utilization and cost. Patients need a prompt response to emergencies. Physicians need an easy and timely follow-up with patients. Our mission is to transform chronic disease management and help save lives worldwide.
Let’s save lives together! To see how we help remote patient monitoring companies and physicians improve the management and care of high-risk patients, contact us today!