IoT in Healthcare: Revolutionizing the Industry? Cost, Gain & Impact Revealed!

IoT in Healthcare: Cost, Gain & Impact

Global healthcare providers are moving in the right direction thanks to the innovative ideas of world-class minds and the incredible possibilities of self-learning technology.

There is also the need to keep up with rapid technological advancements. The good news is that all medical fields are either working with or already using the latest technology in every area of medicine, from diagnostics and therapeutics to complex surgical procedures.

Many technologies exist, such as machine learning, artificial intelligence, and so on.

Which technology, or combination of technologies, will be able to provide the monitoring and management power required by this expanding global market? The answer is IoT (the Internet of Things, or IoT). It is still in its infancy but is now inextricably linked to healthcare. It's been dubbed "the Internet of Medical Things" at times.

It is difficult to overestimate the IoT's enormous centralization and interconnection capabilities. It has the potential to take remote health monitoring, hospital physical infrastructure management, and digital infrastructure management to new heights.

Let's look at IoT in healthcare more in-depth:

The Internet of Things (IoT), a new technology, is an application that can be used in many fields, including healthcare.

The app development industry has been a source of great concern. Healthcare costs are rising faster than ever, the global population is aging, and chronic diseases are on the rise.

We are preparing for an era in which healthcare is not affordable to most people. Due to the aging process, a significant proportion of the population will become inactive. Individuals will also be more likely to develop chronic illnesses.

Technology cannot stop the aging process or cure chronic diseases in one shot, but it can at least make healthcare more accessible and affordable for those with a budget.


What is IoT?

The Internet of Things is abbreviated as IoT. Any device that uses the Internet to transmit or collect data, control processes, or exchange data with other devices is called an IoT device.

Although IoT was once considered a niche technology, connected devices now out number humans. In 2018, each person had 2.4 connected devices. According to report this figure will rise to 3.6 billion by 2023.

Popular IoT devices that are consumptive, such as Amazon Alexa or Google Home, are growing in popularity. A total of 3.5 billion smartphones are owned by 3.5 billion people, or 40% of the world's population. Every day, most people rely on technology, such as the Internet of Things. More applications are available in all sectors of society, including education, hospitality, and healthcare.


Is IoT Possible in the Healthcare Development Sector?

Is IoT Possible in the Healthcare Development Sector?

The Internet of Things (IoT) can be used in healthcare settings. Many problems that can arise in the medical industry will be alleviated by IoT app design. Nexus by Igor IoT platforms connect multiple platforms and combine data from various sources.

Continue reading to learn more about IoT and healthcare and how they can be applied in the healthcare setting.


What is IoT in Healthcare?

The term "IoT in Healthcare" refers to connected devices used in a hospital, clinic, or another medical facility. Smart thermostats, automated lighting systems, safety surveillance systems, electronic signs, and other sensors are among the most commonly used IoT devices. Certain Devices can significantly improve patient comfort and security when used in a healthcare setting.

In healthcare, IoT technology can also refer to medical devices linked to the IoT framework. Healthcare IoT devices are frequently distinguished from other IoT technologies by using terms such as healthcare IoT and Internet of Medical Things (IoMT).


IOT - Advantages and Disadvantages in Health Care

IOT – Advantages and Disadvantages in Health Care

Concerning the IoT in medical settings, there is no denying that there are both advantages and disadvantages to medical IoT.


IoT's Advantages in Healthcare

Many advantages can be derived from medical devices' all-encompassing connectivity and data centralization, including:


Technology Enhancements All Over

Hospital visits can be made unnecessary by passively collecting and analyzing important data. The possibilities of modern technology are abundantly discussed. There are amazing opportunities for future-oriented innovations in the IoT.


Cost Savings

IoT has many benefits for healthcare. Highly efficient autonomous systems are less costly to maintain and more cost-effective over the long term. Patients will have greater cost savings due to fewer hospital trips and faster diagnosis and treatment.


Accessibility

Doctors can access all information they need and monitor patient status in real-time from their offices.

IoT in Healthcare: The Drawbacks

The IoT's massive implementation in healthcare has its challenges.


Privacy could be compromised

As previously stated, systems are hacked. Data security is an important consideration that necessitates a significant investment.

Unauthorized centralization access Criminals could gain access to centralization systems and discover malicious intentions.


Global Health Regulations

The guidelines are being issued by health administrations all over the globe to ensure that IoT integration is adhered to. They may be limited in their abilities to some extent.


IoT Use Cases in the Healthcare Development Sector

IoT Use Cases in the Healthcare Development Sector

Remote Monitoring for Patients

The year 2018 saw NHS England, a non-departmental executive body and part of the Department of Health and Social Care, announce that it was available to support remote diabetes treatment. This announcement was made during World Diabetes Day 2018. The Continuous Glucose Monitor (CGM) is the medical solution. It is as small as a penny and constantly monitors the patient's glucose levels when inserted into their arm.

You can access the data from the monitoring using any Android app or iOS device. Freestyle Libre and Eversense are two of the most well-known examples. These devices can be very beneficial in the treatment and study of diabetics. Sometimes many different products, tools, and cloud services are combined to solve specific problems.

Remote capabilities, also known as telehealth, may make visits to the local hospital unnecessary. This is an excellent option for patients who have mobility issues.

We can delve deeper into the subject. The Internet of Things network can connect to any sensor implanted in the body. This will be useful in medical procedures.

This will prevent heart attacks (MoMeKardia from InfoBionic) and other seizures. It can also provide medical assistance for patients who are critically ill at the right time.


Ingestion Sensors That Are Tracked

The World Health Organization conducted a study in 2003 and discovered that approximately 50% of prescription medications are misused or ignored. Proteus has developed ingestion sensors to assist in addressing this issue. Once dissolved, these tiny sensors are placed in the stomach of prescriptions and send signals to a receiver device. Proteus "smart pills," a truly innovative invention, can help reduce the incidence of rash and ineffective medical prescription consumption. This is truly innovative drug administration.

Porteus Smart Pills are a new device for medical treatment. However, they are as small as pills.

Smart pills also have tiny cameras that let you view living organisms' insides. PillCam from Medtronic is an example.

Have an App Idea? Talk to Our Consultant!


Mobile Health

Also called "mHealth," the ability to monitor and manage your health via mobile phones can prove life-saving for patients who use smartphones often. Mobile health is a developing field that helps with medical emergencies and routine medical situations. As discussed in the section "Remote Patient Monitoring,' mobile applications are an excellent control method for health monitoring devices.

These apps can be used as a health center that provides access to vital medical information, monitors your body's behavior, and manages IoT sensors. You can also connect with your doctor with just one click.

This is especially useful for developing countries, which have a lot of people who need help to afford to travel to the hospital regularly but use smartphones. Governments can also use this information to gather massive amounts of data and assess the health of their citizens.

You can find various apps for sale with various functions and purposes.

  • Application for medication management
  • Apps for fitness
  • Body, Activity, and sleep trackers
  • Pregnancy monitoring applications
  • Apps for individual health records

There are many other options. It is possible to view it all on your mobile OS-compatible marketplace.


Smart Hospitals

For many countries, even those with developed infrastructures, discontent with poorly managed hospitals is a common problem. This is why there are so many problems.

These scenarios can be resolved with IoT solutions in the majority of cases. A central database can replace cumbersome and expensive paper registers. It also has the potential to be enhanced with smart contracts and blockchain. One management system can receive submissions, control the queues, and track employees through smartphones. Remote monitoring and monitoring of the equipment (e.g., The equipment can also be remotely monitored and monitored

These innovations will significantly reduce costs at the in-house hospital, preserve forests, and make transportation easier for patients and medical staff. Intelligent, automated solutions will improve the overall efficiency of the hospital's operations. They can instantly detect and treat health problems that would otherwise require months of live diagnosis by a doctor.


More Effective Treatments for Chronic Disease

Wearables powered by IoT sensors (devices that sense data and use mobile apps) make it easier to combat chronic diseases. Recurrent health issues must be monitored and studied for extended periods. The trends in health can then be compared to determine if they are worth treating.

This is possible thanks to technology and a variety of other capabilities that can be obtained through AI and blockchain technology. This is crucial in the context of health problems that are complex and less well-studied than chronic ones.

Read Also: Impact of Big Data in Healthcare Industry

The Use of Cloud IoT in Healthcare

Cloud-based IoT services have the potential to revolutionize a entire healthcare delivery system. Integration of other technologies, such as ZigBee or Wi-Fi technology, can establish seamless communication between transmitting devices, data collecting systems, and the MIS system that is used for deep data analysis.

Cloud with IoT is also useful in database design. This includes integrating the Cloud with the smart hospital information systems.This IoT integration enables real-time data collection from a variety of sensor devices. These devices can be linked to the hospital system via various locations and processes. IoT cloud systems can be used in hospitals to allow for e-storage of all patient records, documents, including images, videos, and other supporting information. These important data can be accessed by authorized users at any time for service delivery or research. This integration will allow data exchange between hospitals as well as service providers at a very low cost.

To provide efficient and effective services, healthcare service providers must embrace cloud-based IoT technology.


Trends in IOT HealthCare of 2022

It is possible to identify several IoMT patterns in 2022 that will be implemented by most start-ups worldwide.

What are some of the emerging technology trends in healthcare?


1. Surgery Robotics

has become a common practice. Artificial intelligence-powered robotic surgery can perform more precise surgeries than doctors. While there are limitations and risks, the technology is being developed and will likely become more widespread shortly.

The IoT can be integrated with other technologies. AI, AR and Machine Learning, Big Data, and smart contracts enhance and expand IoT solutions. AI is much better and more accurate in predicting breast cancer in women.

Healthcare technology is a digital or software technology that assists and helps doctors, patients, and other health organizations like hospitals and research centers in different ways.

Many health technologies will be available to patients and providers in 2022 as technology and the Internet continue to boom.


2. Remote Healthcare

Telehealth is also called remote healthcare. Telehealth is one of many medical technologies currently used around the globe.

Telehealth allows you to consult your doctor from the comfort of your home. This is great for patients with various conditions, such as elderly patients or patients in rural areas.

Telehealth is a way to connect a doctor and patient via videoconference or other streaming services.

There are numerous telehealth apps on the market right now. You can use these apps to schedule an appointment, consult a doctor, and track your medication intake. You can also keep track of your medical information.

Telehealth is not only for consultations but also offers many other options.

  • Services for location
  • Go to History
  • Medical records
  • Having a conversation with patients
  • Emergency care
  • Reports can be compiled based on a date range, such as monthly or yearly

The doctor will be able to monitor the activities of patients and provide necessary services as needed. Telehealth reduces travel time and costs.

According to studies, 60% of Americans over 65 are open to treating their long-term conditions remotely. The telehealth market will reach $186 billion if there is a lot of demand.

Telehealth can also be useful in clinical trials with many participants. Companies in clinical trials use telehealth to collect medical information from patients, consult with them, and analyze data.

Many pharmaceutical companies are turning to health apps and software to communicate with their patients. Year after year, the demand grows.

Read Also: What services does a typical healthcare software development company provide?


3. Internet of Medical Things (IoMT)

The "internet of medical items"s refers to a collection of internet-connected medical devices and software technologies.

When we connect many medical devices to the Internet, we can store and transmit large amounts of data.

Large amounts of data can be used to diagnose emergency or chronic conditions quickly.

In an emergency, IoMT-like smart robot nurses could be used. Italian hospitals already use this method to monitor blood pressure and SpO2 levels.

  • Smart beds
  • Smart wearables
  • Automated temperature sensors
  • Smart pills - Ingestible sensors and cameras
  • Delivery systems for inhalers that are internet-connected

The market for IoT is expected to reach $1319 billion in 2026.

IoMT is a promising trend in healthcare technology for the future.


4. Nanomedicine

Nanomedicine refers to the use of nanoparticles and nano-objects in medicine.

Nanomedicine is a promising field for the future. Nanomedicine is extremely useful in cancer treatment and target drug injection.

Nanopill cameras are used by organizations to study the inside of the body. Over the next few years, the use of nanotechnology in the medical field will increase. The nanomedicine market will be worth more than 125 billion dollars by 2024.


5. Smart Wearables

Smart wearables are a key innovation in medical technology. Wearables continue dominating the market. Major mobile technology companies like Apple and Android keep updating and improving their wearables and adding health-tracking features. A multitude of tiny devices has been created because the majority of humanity follows suit

According to statistics, one in every five Americans owns a fitness tracker. It is expected to rise to one in every three.

Smartwatches are becoming increasingly popular among people of all ages. Fitbit, Samsung, and Apple are among the leading manufacturers of smartwatches.

Smartwatches can be used as fitness trackers and smartwatches.

  • Keep track of your daily activities
  • Record your heartbeat
  • Keep a record of your ECG reports
  • Record your blood oxygen levels

These watches can monitor blood oxygen levels, which can help save lives.

All smartwatches store data using either iOS or Android apps.

Aside from smartwatches and fitness trackers, many smart wearables are used in the healthcare sector, such as smart bio patches and smart hearing aids.

Smart bio patches monitor blood sugar levels without the use of a smartwatch.

By 2027, the global market for health wearables is expected to be worth $195.57 billion.


6. AI in Healthcare

Artificial intelligence is everywhere and in every industry. There are numerous advantages to implementing AI and machine learning (ML)

Having a robot do the work is not a novel concept. However, it has a wide range of applications in the healthcare industry.

Here's a list of the many ways that AI has changed the healthcare industry:

  • AI is a key component in developing next-generation radiology devices that can be automated to predict.
  • AI will allow for the expansion of health services in many remote and underdeveloped areas. Artificial intelligence can reduce the work of many skilled professionals, such as nurses, who are responsible for recording and diagnosing.
  • AI is used extensively in diagnosing and reducing errors.
  • AI allows medical professionals to detect cancer sooner.
  • AI can be used to manage my medical data.

AI is being implemented in the medical sector by many pioneers. Here are some:

  • Buoy Health - Intelligent symptom tracker
  • PathAI - AI allows for early detection of cancer.
  • BenevolentAI: Using AI to discover new medicines

Artificial intelligence is expected to grow in value to a total of

Artificial intelligence is expected to grow to $120 billion in 2028.


7.Virtual Reality & Augmented Reality

Augmented reality and virtual reality can assist healthcare professionals in many ways.

Surgeons can now perform surgery with both hands using VR and AR technology like Microsoft Hololens. The VR lens can be worn by other doctors, who will also provide valuable advice during surgery.

They also help nurses find veins to draw blood from. Augmented reality gives the same experience as real life, which training doctors can use to improve their accuracy and practice.

Voice commands can also be used to activate augmented reality. A surgeon can receive messages about other patients without interfering with the operation and respond with voice commands.

Although AI can improve AR experiences, implementing it requires more software and hardware knowledge. Many healthcare organizations are utilizing augmented and virtual reality.

The augmented and virtual reality market will reach $4997 million by 2023.


8. Predictive Analysis

Predictive analytics has the potential to improve patient care. Machine learning algorithms can be programmed to provide insight for future patients based on past patient data and results.

The data will be collected from many IoMTs and used to predict outcomes and data. This huge amount of data will create a pattern.

Predictive analysis has some advantages:

  • Patient care is improved
  • Faster diagnosis
  • Quicker drug development
  • Healthcare workers can receive significant relief
  • Enriched decision-making in emergencies

9. Bioprinting

3D printing is not new in the healthcare industry. It will become more common in other areas than just surgery.

Bioprinting has many advantages:

  • This makes complex surgeries much easier.
  • Production takes very little time
  • Training for trainers: More practice
  • You can customize external implants such as artificial legs more than any other method.
  • Cost-effective

These are the top eight healthcare technology trends that will revolutionize the industry.

Among the top software companies that invest in healthcare technology are Amazon, Apple, and Microsoft. Because of the complexity of product design, healthcare software is a highly competitive domain.

Now is an excellent time to invest in or develop healthcare technology-related products. To create a successful industry-specific product, you must understand the key features of a healthcare app.

Have an App Idea? Talk to Our Consultant!


The Key Takeaway

Let us remember that the Internet of Things has the potential to revolutionize healthcare on a global scale. Some many technical hurdles and peculiarities need to be overcome. Despite the disadvantages and benefits, this technology-driven innovation is working very well.

We are certain that the vast technological advances have many life-saving and health-enhancing benefits.