According to a McKinsey report, “Sensors and ubiquitous connectivity, combined with data and analytics, open up new opportunities to innovate products and services and to increase the efficiency of operations. This digitization of the physical world—or Internet of Things (IoT)—creates new value for our clients and their customers.”
IoT technology is an up-and-coming solution in healthcare. The COVID-19 era rapidly developed this technology. The elderly were vulnerable to catching the pandemic virus. So, there was a need to get medical care online. This would keep the seniors away from clinics and hospitals. Doctors would be available virtually on these platforms. It reduced the exposure to COVID for all involved parties. Seeing the benefits, hospitals started telemedicine. Professional IoT software development firms were hired for the development. With the upcoming 5G technology, IoT implementation is rapid.
Market Size of IoT
IoT technology is infiltrating every field. It is being used in all-sized businesses. Even the government departments are using this technology. According to a McKinsey report, “IoT will have an economic impact of between $4 trillion and $11 trillion by 2025.” They published another report in November 2021 and revised these statistics. The report found that IoT can “enable $5.5 trillion to $12.6 trillion in value globally” by 2030. There were changes after the pandemic. This is a ten-year estimate. So, in any case, IoT is a trillion-dollar industry. In this forecast, the health sector contributes ten to fourteen percent of the value to IoT.
Impact of IoT technology
Internet of Things technology is not a recently discovered service. It has been present for over a decade in some form. What happened is that it gained popularity in the last several years. There are several ways IoT technology impacted the healthcare sector.
With the use of IoT, patient care has become more accessible. This system helped with comfort and convenience. This, in turn, reduced recovery time. It helped increase patient satisfaction too.
The precision of patient handling improved. The devices provide improved patient data IoT analytics. These devices send and store data over the cloud for better patient care. This data helps in providing informed treatment decisions.
IoT solutions come with security features. This ensures that there are no data leaks. It protects the privacy of doctors, patients and the staff.
The sanitization of patient rooms improved. With the advanced UV light technology, germs are killed. This helps in preventing illnesses and keeps the room/area clean.
IoT technology is a one-time investment. It will be implemented in all sized healthcare facilities soon. Trained staff, proper infrastructure implementation and device installation will keep the medical facility ahead. It is easy to implement newer devices in the system.
Benefits of IoT in the Health Sector
The Internet of Things devices removes the dependency from humans for basic tasks. Below are the advantages of using IoT in healthcare facilities.
Cost Saving: Patient monitoring takes place in real-time. The devices attached to the patients make this possible. These devices are connected to the doctor’s office. The data keeps getting collected, and changes can be made. This means that there are lesser visits to the doctors.
Patient Experience: As the treating physician has the data, they can make a quicker diagnosis. This keeps the patient engaged in their care. The diagnostic accuracy is improved significantly due to IoT analytics. This helps avoid errors in care. This produces a better experience and quicker treatment.
Drug Management and Adherence: Drug tracking is revolutionary. It reduces the time for tracking and searching for the drug. IoT helps in inventory and reordering medicines in low stock. IoT helps keep an eye on hygiene practices. This helped reduce hospital infection outbreaks. Secondly, IoT keeps track of patient drug use. The system lets the physician know if the patient is adhering to a drug prescription. It helps to know if the treatment plan is being followed properly.
Reduced Testing and Errors: IoT data collection helps minimize testing. Sometimes, a test is unnecessary. This wastes resources. IoT data tell if the test is needed or not. This reduces the costs as well. Errors are reduced, which are human. So, patient care becomes error-free.
Treatment Outcomes: IoT systems incorporate data analytics and big data. They are connected through the cloud. Caregivers have real-time access to all the data. This is used to make timely and informed treatment decisions.
Telemedicine Solution: Due to COVID-19, telemedicine is increasingly being used. This provides home care, especially for older patients. IoT cloud service monitors collect and analyses data. This is shared with the doctor, and a treatment plan is formed. All is done from the comfort of the seniors’ homes.
Challenges of IoT in the Health Sector
Nothing is without risks. IoT technology has many benefits and advantages, but there are some challenges. Some of these disadvantages are discussed.
Security Issues: Security of IoT has improved manifold over the last few years. Otherwise, security was a big issue. Still, IoT devices used in the medical field are prone to hacker attacks. The data of patients’ medical records can still be breached. The sensors and devices can be meddled with. This can negate the benefits of using IoT.
System Failure: Electricity outages can cause a system failure. A virus or a bug can cause the system to break down. If one device in the system is affected, the whole system breakdown. A skipped system update can be harmful in the proper running of said system.
Device Integration: There are several vendors providing devices. It can be a problem if machines do not work well together. This is due to different manufacturers. There is no compliance or guidelines still for such devices. This can cause system integration issues.
Initial Costs: IoT is beneficial and cost-friendly in the long run. Initially, the infrastructure, staff training and installation are costly. This can be a challenge for small hospitals and clinics.
Data Storage: Cloud storage is great. There is a problem with it. The data amount is a lot. This means that storage becomes an issue for hospitals. Money needs to be invested in buying databases.
Outsourcing for IoT Solutions
IoT solutions for the healthcare sector need a system. These systems include devices, monitoring and storage solutions. Mainly, a system needs to be formed which is patient-centric. It should meet the requirements of the healthcare facility and be within budget.
Offshore IoT development companies can develop the software. It is cost-saving and saves on time. Offshore vendors give access to large pools of experienced professionals. IoT specialists might not be available easily near the clients’ general area. The locally available talent might not be up to the standards for development goals.
A healthcare facility need not worry about sourcing, managing and retaining professionals. The outsourced vendor is in charge of taking care of all needs. The vendor hires professionals, so it further reduces costs. No hiring, no spending money and no hassle. The offshore team works at a flat rate as well.
The hospital can concentrate on providing patient care. This is the core for them and needs to be paid full attention. The offshore company will take care of the administrative work. Developer teams are flexible. The vendor provides a team in a short amount of time. The unit fits in the allocated budget. The team can be expanded if necessary. In this case, the vendor will do the hiring.
Most offshore companies provide consultancy to clients. The IoT solutions provided are complete. They analyze data and generate reports and insights. The IoT experts can help in security issues and help eradicate any bugs and viruses in the currently used system.
Mashkraft for IoT Solutions
Mashkraft is a development company providing IoT solutions to clients. We have clients present in several parts of the world. This includes Europe, Asia, North America and Africa. Please reach out, and our experts will help you find the right solution that fits your budget and needs. You can find out more details about our services and successes at www.mashkraft.com.