High Healthcare Costs to be Alleviated by Digital Healthcare Movement

In a report published Monday, Goldman Sachs analysts predicted that digital healthcare would revolutionize the industry, both by increasing access to diagnostic, treatment, and preventative care, and by dramatically reducing costs.

The technology called The Internet of Things will include Remote Patient Monitoring, Telehealth, and Behavior Modification. These three components of digital health will reshape how patients can interact and follow up with their provider. Remote patient monitoring will cater to chronic disease patients, Telehealth will cover routine and psychological care, while behavior management will address concerns like smoking and obesity.

Chronic disease management, mainly asthma, heart disease, and diabetes, accounts for 1/3 of all US Healthcare expenses. Remote patient monitoring could save a total of $305 billion, about $200 billion from chronic disease management, and could create over $30 billion in revenue.

Written by Maya Haynes

To read more from Business Insider click here

Maya Haynes is a dual-degree student Boston University in Boston, Massachusetts with majors in sociology and public health, and a contributor to Medical Groups. She is committed to making sure vulnerable populations in the United States are provided with the knowledge and resources to best plan and care for their families. She regularly volunteers at local preschools and community centers to assess the needs to of the populations she plans on serving.