In-Home Health Monitoring Market Faces Near-Term Uphill Struggle

Park Ass: Seniors and Baby Boomers Lukewarm to Service Concept, Frugal on Spending. The U.S.’s senior and baby boomer populations are not currently receptive to in-home health monitoring,. Two-thirds from both populations see little to no value in these services.

Of the one-fifth who find the service valuable, 60% would still not spend extra money, either out-of-pocket or in higher healthcare premiums, for in-home health monitoring. Only 20% would accept a moderate increase in health insurance premiums, and another 16-20% would be willing to pay out-of-pocket for it.

In-home health monitoring is a service that allows patients to use network-connected measurement devices, such as glucose meters, weight scales, and peak flow meters, to collect vital signs at home and send electronic data to clinicians for ongoing chronic condition monitoring.

Low interest in this service among the grey-power generation and the baby boomers stems from multiple reasons, including the fact that the service is a novelty to many senior citizens, who are typically slow to adopt new technologies in the first place. The seemingly complex applications inhibit adoption.he industry is still attractive in the lonTg term. As the nation’s population ages, wealthy baby boomers will bring their do-it-yourself lifestyles to the personal care management business. Over time, the industry will receive another boost once the cost-saving benefits of home care monitoring services are clearly documented and recognized by insurers.

The industry, which is composed of many small, private companies, is suffering from a lack of consumer understanding and poor reimbursement mechanisms in the private and public sectors. This situation will be improved once influential constituents, such as the U.S. government, large employer groups and health plans, and IT giants, make a concerted effort to remove those speed bumps. Delivering Quality Healthcare to the Digital Home Publ 20060125