The Internet of Things and Healthcare Policy Principles

The Internet of Things and Healthcare Policy Principles

The Internet of Things and Healthcare Policy Principles

Background

Within the next ten years, half of all care will be delivered virtually, with providers paid based on their teamwork and quality. We expect 24/7 diagnostics monitoring from phones, wearables, and even implantables with dramatic growth in sensing technologies from the hospital to the home. The integration of device data (inpatient, outpatient, and home- or mobile-based) into medic...al records will be a major push for the foreseeable future. In large part because of widespread wastefulness in service delivery and need for virtual care models, McKinsey forecasts that 40 percent of the global economic impact of the Internet of Things revolution will occur in healthcare, more than any other sector. Mobile healthcare devices will be used to track everything from fitness goals to surgical rehab faster, more convenient, and at reduced costs. Two distinct factors have the potential to make dramatic changes in U.S. healthcare: consumer engagement and payment for outcomes. These are crucial to meeting the needs brought by shifts in demographics.

Emerging 21st century care platforms require titanic shifts in thinking, business models, and infrastructure. The old "mainframe health" paradigm (i.e., centralized, hospital-centric, expert-driven, reactive, costly) is giving way to a new "personal health" paradigm (i.e., distributed, data-rich, preventive, home- and consumer-centric, and efficiency-driven).

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