THE INTERNET OF MEDICAL THINGS: The coronavirus is catalyzing a need for healthcare IoT in the US — here's how connectivity and technology providers are carving out their place in the market

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Healthcare providers have been turning to the Internet of Medical Things (IoMT) to facilitate their digital transformation since before the coronavirus hit the US — but the pandemic has caused a sea change in providers’ willingness to implement IoT solutions that augment efforts in preparing for, containing, and diagnosing the virus. 

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As the backbone that powers the IoMT, connectivity and technology providers have a mounting opportunity to capture a larger slice of the market as it evolves alongside the coronavirus pandemic. Prior to the pandemic, healthcare providers were forecast to adopt IoT devices at one of the fastest rates of any industry segment, with the installed base of IoT endpoints expected to grow 29% year-over-year in 2020.

And pre-pandemic, healthcare was among the top three industries expected to see the fastest growth rates (15.4%) in IoT investment in terms of spending over the 2017-2022 forecast period. But the coronavirus is fundamentally changing how healthcare can be accessed and delivered in the US, and we expect to see even faster growth throughout 2020 — and that this upward momentum will outlast the pandemic.

In The Internet of Medical Things, Business Insider Intelligence assesses the North American IoMT market and explores how the IoMT opportunity for connectivity providers is evolving alongside the coronavirus pandemic, and how these players are carving out their place in the growing segment. We first unpack the opportunities for connectivity and technology providers in the IoMT market and outline how the coronavirus pandemic will impact demand for various IoT solutions in healthcare. We then detail how emerging techonlogies are propelling the healthcare IoT space forward. Finally, we explore how connectivity and technology players can expand within the IoMT ecosystem.

The companies mentioned in this report include: AT&T, Augmedics, AVIA, Choice IoT, DarioHealth, Eko, GE Healthcare, Intel, Medtronic, Packet, Phillips, PlushCare, PTC, Smardii, Sprint, Telit, Vuzix, XENEX, Zebra. 

Here are some of the key takeaways from the report: 

  • Healthcare providers are prioritizing IoT investment in solutions that enhance virtual care delivery, augment emergency services and triage, and automate or streamline tasks. 
  • The IoMT opportunities for connectivity and technology providers will only be amplified as the IoT intersects with other emerging technologies. 
  • We interviewed executive decision-makers in the connectivity and technology space to gather their insights on how they determine which IoMT opportunities to prioritize, the best go-to-market strategy for these new opportunities, and what goes into the decision process when selecting a partner to expand within the IoMT. 
  • The report also highlights the opinions of executive decision-makers in the connectivity and technology space on topics that include: telemedicine, preventative care, administrative operations, 5G, edge computing, artificial intelligence, and augmented reality. 

In full, the report: 

  • Sizes the North American IoMT market through 2022 and explains how it compares with pre-coronavirus estimates. 
  • Identifies the three biggest IoMT opportunities for connectivity and technology providers based on conversations with companies entrenched in the IoMT ecosystem, and on our analysis of their impact, scalability, early evidence of value creation, and increased utility amid the coronavirus pandemic.
  • Provides recommendations for connectivity and technology providers on how to carve out and expand their footprint in ways that unlock the most value. 

Interested in getting the full report? Here’s how to get access:

  1. Business Insider Intelligence analyzes the tech industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more. >> Check if your company has BII Enterprise membership access to the full report
  2. Sign up for the  Connectivity & Tech Briefing, Business Insider Intelligence’s expert email newsletter keeping you up-to-date on the people, technologies, trends, and companies shaping the future of healthcare, delivered to your inbox 6x a week. >> Get Started
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Amazon's Leap Into Healthcare

Summary List PlacementHealthcare organizations are contending with a population that’s growing sicker, heightened spending, and shifting consumer demands for fast and convenient services.
Big tech companies have stepped in to alleviate or solve some of these issues, bridging technological gaps that give health organization partners the opportunity to realize cost savings and bolster their top lines.
One of these companies is Amazon, which has been casting a wide net across the healthcare ecosystem over the last two years — having started initiatives to disrupt or transform pharmacy, the medical supply chain, health insurance, and care delivery.
In the Amazon’s Leap Into Healthcare report, Business Insider Intelligence details how the tech giant is making waves in the healthcare sector.
This exclusive report can be yours for FREE today.Join the conversation about this story »

THE DIGITAL HEALTH ECOSYSTEM: The most important players, tech, and trends propelling the digital transformation of the $3.7 trillion healthcare industry (AAPL, IBM, ANTM, GOOGL, MSFT, AMZN, PFE, GE, MCK, TMUS, WMT, WBA, MRK, CVS)

This is a preview of a research report from Business Insider Intelligence,  Business Insider’s premium research service. Current subscribers can read the report here.
Until now, healthcare was the only remaining industry that had yet to feel the rapid impact of digitization endured by retail, banking, and media. But consumer adoption of digital tech, regulatory overhauls, and a shifting reimbursement model are forcing healthcare players’ hands. Summary List Placement
Digital health innovation offers market incumbents new opportunities to combat constricting margins, labor shortages, and rising costs.
But it also poses a threat to slow movers, as new entrants lean on their digital prowess and lack of legacy infrastructure to cut costs and remain nimble. As such, incumbents are turning to acquisitions, partnerships, and new investments to strengthen their digital health services.
The first Digital Health Ecosystem Report from Business Insider Intelligence explores the current healthcare ecosystem, industry trends that are driving digital transformation, and where the industry is headed.
We outline the role of each of the industry’s major players — including payers, providers, and manufacturers — and how they’re affected by healthcare’s digital disruption. 
 
Here are some of the key takeaways from the report:

Digital health is at the forefront of transformation in the healthcare industry — both as a driver of and an answer to the challenges industry players are grappling with.
All of the industry’s major players — including payers, providers, and manufacturers — are affected by healthcare’s digital disruption.
A confluence of forces induced healthcare’s embrace of digital health, including changing consumer expectations, a new and disruptive reimbursement model, and rising healthcare costs
Tech-focused entrants are also breaking into healthcare, acting as catalysts for change and threatening legacy players’ bottom lines.
Key digital health solutions like EHRs, digital therapeutics, telehealth, AI, wearables, and blockchain are the foundation of the industry’s digital awakening.
Early evidence that digital health can address many of the industry’s myriad challenges has fueled a vibrant US digital health funding market in 2018, with overall funding hitting $6.8 billion at the end of Q3. 

 In full, the report:

Details the US healthcare landscape by the role that payers, providers, manufacturers, and distributors play in the healthcare ecosystem.
Gives an overview of how digital health is enabling incumbents to overcome industry challenges.
Outlines how tech-focused healthcare entrants are pressuring incumbents and accelerating healthcare’s digital transformation
Identifies promising digital health funding areas to illustrate what the future of digital health will look like.

Interested in getting the full report? Here are two ways to access it:

Purchase & download the full report from our research store. > >Purchase & Download Now
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The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of the Digital Health.
The companies mentioned in this report are: Aetna, Alphabet, Amazon, American Well, AmerisourceBergen, Anthem, Apple, Arizona Care Network, Arterys, Babylon Health, Beth Israel Deaconess Medical Center, Bay Labs, Blue Cross and Blue Shield Association, Blue Mesa Health, Bright Health, Cardinal Health, Cedars-Sinai, Cleveland Clinic, Clover Health, CVS, DePuy Synthes, Devoted Health, Dexcom, Doctor on Demand, Express Scripts, Fitbit, Fresenius Medical Care, GE Healthcare, Geisinger, Glooko, GSK, healthfinch, IBM, IDx, Johnson & Johnson, Mass General, McKesson, Medtronic, Merck & Co., Merck KGaA, Microsoft, NewYork-Presbyterian, Northwell Health, Novartis, Olive, Omada Health, Optum Rx, Oscar Health, Pear Therapeutics, Pfizer, Philips, PillPack, ResMed, Rite Aid, Roche, Samsung, Sanofi, Senseonics, Suki, Tallahassee Memorial Hospital, T-Mobile, UnitedHealth Group, Verily, Viant, Walgreens, Walmart, Wellpepper, Zocdoc
 
 SEE ALSO: Patients are transforming from passive recipients of healthcare services to active participants in their own health
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BIG TECH IN HEALTHCARE: Here's who wins and loses as Alphabet, Amazon, Apple, and Microsoft hone in on niche sectors of healthcare

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This is a preview of The Big Tech in Healthcare research report from Business Insider Intelligence.
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The Big Four tech companies — Alphabet, Amazon, Apple, and Microsoft — are accelerating their pursuit of the healthcare market, and they’re starting to hone their strategies in on specific corners of the ecosystem.

US healthcare players are being forced to move on their digital transformation efforts, and Alphabet, Amazon, Apple, and Microsoft are lending their data prowess and tech-savviness to become attractive partners for the job.
Healthcare organizations have to contend with a population that’s growing sicker, heightened costs, and shifting consumer demands for fast and convenient services. Further, the electronic health record (EHR) boom over the last decade has ushered in the need for organizations to revamp infrastructure and IT strategies.
The Big Four have stepped in to alleviate these issues, bridging technological gaps that give health organization partners the opportunity to realize cost savings and bolster their top lines.
These players are ramping up their efforts to reshape healthcare by developing and collaborating on new tools that could be a boon to consumers, medical professionals, and insurers.
And they’re zeroing in on specific areas within healthcare: For instance, Microsoft dropped its consumer-facing wearables and health record system to narrow its focus on its cloud offerings for health systems, Apple is knuckling down on clinical research initiatives via its wearables, Alphabet is focusing on its AI expertise to drive precision medicine, and Amazon is reaching across the board — from pharmacy to medical supply delivery to telehealth. And while their health plays have presented myriad opportunities for healthcare stakeholders, some of the tech giants’ initiatives are encroaching on legacy players’ businesses and upsetting incumbents.
In this report, Business Insider Intelligence explores the key strengths and offerings the Big Four tech giants bring to healthcare — and how each is homing their healthcare strategy in on different corners of the market. We outline how their healthcare plays are causing a tidal change throughout the healthcare industry, examining how each player benefits and threatens healthcare incumbents. Finally, we lay out the barriers holding the Big Four back from reaching their full potential in healthcare.
The companies mentioned in this report are: AbbVie, Adidas, Aetna, Allscripts, Alphabet, Amazon, Ancestry, Apple, Ascension, Berkshire Hathaway, Blue Cross Blue Shield, Bright Health, Calico, Cerner, Cleveland Clinic, Clover Health, Color, CVS, CVS Caremark, Deepmind, Devoted Health, Dexcom, Duke University Health, Eli Lilly, Emory Healthcare, Epic, Fitbit, Giant Eagle Pharmacy, Gilead Sciences, Google, GSK, Haven, Health Navigator, iRhythm, JPMorgan Chase, Mayo Clinic, Meditech, Microsoft, Moorfields Eye Hospital, New York-Presbyterian, Nike, Noom, Northwestern Medicine, Novartis, Nuance, Oasis Medical Group, Onduo, Optum, Orbita, Otsuka, Pfizer, PillPack, Premera, Providence St. Joseph Health, Quest Diagnostics, ResMed, Rite Aid, Sanofi, Seattle Children’s Hospital, St. Jude Children’s Research Hospital, Stanford University, Suki, Summit Pacific Medical Center, Surescripts, UnitedHealthcare, UnitedHealth Group, University of California, University of Chicago, Verily Life Sciences, and Walgreens.
Here are some key takeaways from the report: 

Alphabet, Amazon, Apple, and Microsoft are gunning to carve out spaces within the healthcare market, and each is targetting its own set of sectors to transform or disrupt. 
Microsoft is focused on its race with Amazon and Google to lay claim to the healthcare cloud market, Apple is knuckling down on clinical research initiatives via its wearables, Alphabet is focusing on its AI expertise to drive precision medicine, and Amazon is shaping up to disrupt the pharmacy, virtual care, and telehealth realms.
Their moves into healthcare are providing health systems with tech needed to patch up interoperability and data sharing gaps, giving healthcare payers a chance to collect a more comprehensive set of health data for members, and granting pharma companies the ability to streamline drug development and manufacturing. 
But tech giants’ forward march into healthcare is, in some cases, troubling incumbents. Amazon’s prescription delivery play has traditional pharmacies looking for ways to retain their customer bases, for instance, and Alphabet is building an ecosystem that we think could put it at odds with top dogs in the EHR industry.
And their inroads into the healthcare space may be stymied by consumers’ meager trust in tech companies handling their health information as well as a rampant cybersecurity crisis that could have healthcare firms holding off on tech investments. 

In full, the report: 

Provides an overview of Alphabet’s, Amazon’s, Apple’s, and Microsoft’s most prominent healthcare projects and plans. 
Highlights the persistent gaps in the US healthcare system that provide these companies and their cutting-edge technologies with entryways into the industry. 
Identifies the incumbent healthcare players that will benefit from and be threatened by big tech companies’ foray into healthcare. 
Outlines the barriers that are still in place that are stifling tech giants’ dive into the health space. 

Want to learn more about the fast-moving world of digital health? Here’s how to get access:

Purchase & download the full report from our research store. > >  Purchase & Download Now
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Current subscribers can read the report here.
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AI IN HEALTHCARE ADMINISTRATION: How digital health firms and big tech are using AI to ease doctors' administrative burden

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Insider Intelligence publishes thousands of research reports, charts, and forecasts on the Digital Health industry. You can learn more about becoming a client here.

The following is a preview of one Digital Health report, the AI in Healthcare Administration report. You can purchase this report here.

Physician burnout has permeated the healthcare landscape over the last decade, costing the US healthcare system $4.6 billion annually. Over 40% of US physicians said they were burned out pre-pandemic — a figure that’s likely swelled amid the stress of treating coronavirus patients.

The staggering proportion of US physicians experiencing burnout is further compounded by findings that indicate the US is facing a clinician shortage: A pre-pandemic analysis published by the Association of American Medical Colleges (AAMC) projects the US will see a shortage of up to 139,000 physicians by 2033. And now, the coronavirus pandemic is exacerbating clinicians’ feelings of burnout.
Providers are seeking ways to combat burnout and cut back on the associated costs — opening an opportunity for tech players with AI-based healthcare administration tools. Provider organizations have expressed significant interest in reducing clinicians’ burnout, with hundreds offering their feedback to the US Department of Health and Human Services (HHS) as part of the federal agency’s efforts to develop an actionable burnout-reduction strategy for physicians.
This presents a sizable opportunity for digital health startups and big tech firms alike, who have increasingly rolled out AI-based tools including machine learning services and voice-enabled digital assistants to help ease clinicians’ stress and address the physician burnout crisis permeating the US.
In this report, Insider Intelligence explores the factors driving burnout among clinicians, and how digital health firms and big tech are developing AI solutions to address the US’ physician burnout crisis. We first unpack the key drivers of US physicians’ burnout, including the weight of their administrative burden and extensive working hours. Next, we explore four AI-powered solutions we’ve identified as having the ability to most effectively combat physicians’ administrative burden and feelings of burnout. We then detail some of the limitations of current AI-based healthcare administration tools and explore barriers that have prevented some physicians from adopting the tech. Finally, we provide an outlook on what the next iteration of AI-powered healthcare administration solutions could look like.
The companies mentioned in this report are: Amazon, Amazon Web Services, Amgen, Apple, Austin Regional Medical Clinic, Cerner, CommonSpirit Health, Google, Google Cloud, Microsoft, Nebraska Medicine, Notable Health, Nuance, Suki, and Wolters Kluwer.
Here are some key takeaways from this report: 

Physician burnout has remained at dangerously high levels over the past 10 years — and the coronavirus pandemic is driving it to a fever pitch.
Clinicians cite the administrative burden of tasks like charting and paperwork as the top driver of burnout — with long working hours also playing a major role.
Digital health startups and big tech companies are rolling out AI-powered healthcare administration solutions to automate tasks and free up clinicians to focus their time on providing patients care.
Despite AI’s ability to combat physicians’ burden, several barriers — like cost and return on investment considerations — are holding some providers back from adopting AI for administration.
Digital health startups and big tech companies are working to overcome existing limitations and improve the capabilities of their AI-powered solutions to more effectively combat clinicians’ administrative burden — and resultant burnout — on a wider, more accessible scale.

 
In full, the report: 

Explores the factors driving US physicians’ burnout, and how the coronavirus pandemic is compounding clinicians’ stress.
Provides an overview of the digital health startups and big tech firms who have developed AI-based healthcare administration solutions with the ability to most effectively combat US physicians’ feelings of burnout.
Outlines the constraints of existing AI-powered healthcare administration tools and identifies factors that have stood in the way of adoption.
Highlights what the future could hold for the AI-based healthcare administration space.

Interested in getting the full report? Here’s how you can gain access:

Join other Insider Intelligence clients who receive this report, along with thousands of other Digital Health forecasts, briefings, charts, and research reports to their inboxes. > > Become a Client

Purchase the individual report from our store. > > Buy The Report Here

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