Updated, June 11, 2013
Technology change, additional services, and new entrants will expand this traditional base of Personal Emergency Response System users from today’s population to a younger and more mobile group, interested in being out and about, willing and motivated to monitor chronic disease status and/or patterns of behavioral change that could signal decline or onset of health issues. In addition, new uses for devices and services are emerging, including creation of platforms that enable integration with multiple devices and systems, personal interaction and engagement, concierge services, and overall wellness and activity monitoring.
The market – both payer/provider and consumer/family will segment by value and function to meet multiple levels of need as well as the pocketbooks of individuals, families and healthcare providers/insurers. Insurers and healthcare providers in particular will see these devices as a tool to help prevent re-hospitalization post discharge. Players in the market will enter from the security, carrier, remote health and activity monitoring, wellness categories – and fitness technology tracking. Those who succeed will have channel partnerships and distribution that best matches the service expectations of the customer, whether that is offered through home health care or resellers, referred and sold through today’s hospital/healthcare referrals and resale, or marketed direct-to-consumer.