Digital Transformation in Healthcare: Ushering in the Era of Home-Based Medical Services
From January 9 to 12 this year, CES 2024, the world's largest consumer electronics and IT exhibition held in Las Vegas Convention Center, featured over 4,000 companies from 150 countries showcasing innovative technologies like Artificial Intelligence (AI), robotics, digital healthcare, and the metaverse. 삼정KPMG (KPMG Korea) Economic Research Institute identified the top 10 trends of CES 2024 as: ▲Artificial Intelligence (AI) ▲Robots ▲Mobility ▲Smart Homes ▲Metaverse/Web 3.0 ▲Digital Healthcare ▲ESG ▲Food Tech ▲Space Tech ▲Startups.
In the digital healthcare sector, many innovative products were introduced, focusing on ▲personalized medicine ▲consumer-centric approaches ▲prevention and ▲AI. Notably, Korea’s CERAGEM International Inc. won the Digital Healthcare Innovation Award for its Master Medical Bed and IoT-linked healthcare integrated platform, ‘Home Medicare Platform,’ which is a wellness care solution. One of Korea's pilot projects in digital healthcare is ‘home healthcare,’ which includes 13 types of visiting medical services currently being tested, though public awareness is still low.
At the first Autumn Symposium of the Korean Academy of Home Care Medicine on November 5 last year, it was suggested that it is not ideal for the elderly and patients with mobility issues to visit hospitals. Home healthcare, including visiting medical services, was presented as a new model benefiting patients, caregivers, and medical professionals alike. This approach has been positively evaluated for reducing complications like pneumonia, urinary tract infections, and bedsores, as well as decreasing hospital visits, thus lessening the social burden.
Despite various efforts to promote home healthcare, it is still underdeveloped. It's time to develop and implement models utilizing remote patient monitoring systems and IoT-based digital healthcare devices. In the U.S., where medical expenses are high, hospitals and distribution companies like Best Buy and Walmart are entering the home healthcare market. Comprehensive hospitals such as Brigham (Mass General Brigham Hospital) in Boston, affiliated with Harvard, are also promoting home healthcare.
Brigham refers to home healthcare as ‘Home Hospital,’ viewing the patient’s home as the optimal space for receiving timely care services from healthcare providers. They offer hospital-equivalent home healthcare services with 24/7 remote vital sign monitoring, daily visits from a medical team, advanced remote healthcare technology, and a team of integrated experts always available nearby.
Home Hospital allows for rapid hospital-level treatment at home for acute conditions like chronic obstructive pulmonary disease or infections from chronic heart failure complications. Nurses, paramedics, or other healthcare providers visit the patient twice daily to monitor vital signs and administer treatments like intravenous injections. Additional monitoring devices, such as Bluetooth-connected wireless scales and blood pressure monitors, are used, with medical staff on standby 24/7 for any needed assistance.
Patients experience significant symptom improvement in the comfort of their homes through Home Hospital. The success of Mass General Brigham’s Home Hospital is not solely due to the hospital's efforts but also Best Buy Health’s 'Current Health Platform,’ which connects home patients with ▲doctors ▲nurses ▲paramedics ▲medical professionals, enhancing care methods and providing necessary services and supplies promptly.
Additionally, services like 'Lively Mobile Plus’ act as Personal Emergency Response System (PERS) devices, detecting falls and connecting patients to emergency responders. This collaboration between Best Buy Health and Mass General Brigham Hospital reduces the emotional and financial burden on patients and caregivers by providing high-quality care at home, leveraging Best Buy’s digital retail experience.
Best Buy Health estimates the U.S. home healthcare market at $3.5 trillion and aims for $50 billion in annual sales by 2025. They plan to expand home healthcare services from 1 million to 5 million people within five years. At the Korean Academy of Home Care Medicine symposium, a doctor compared Korea's situation to the U.S., stating, “Home healthcare is the path we must take and the ultimate goal of all healthcare.”
· (click to download) Future Industry Trends as Seen at CES 2024
· 'Home Healthcare' is the Path We Must Take... It Must Not End in Disappointment
· Home Hospital Emergency Care
· How Walmart Became a Major Player in the Healthcare Industry
· Mass General Brigham hospital care delivered in your home
· Best Buy Pushes Deeper Into Healthcare With ‘Hospital At Home’ Partnership
· Mass General Brigham partners with Best Buy on tech for acute care at home
Jong-Soo Choi Thanks for Sharing! 😁