The medical device industry has undergone numerous innovations in its august history. A robust and expansive market, the medical device sector assists healthcare professionals in the diagnosis, treatment, and prevention measures for patients. At Altus, we fit into that market by creating contemporary workstations that support optimal ergonomic function, which leads to an increased workflow and productivity for clinicians, and ultimately better care for patients.
Our industry, like many others, has had to be creative, flexible, and innovative in the wake of the COVID-19 pandemic. Between scarce resources, hiccups in the supply chain, and a race against the clock, we have had to develop new solutions to meet the ever-growing need in the market. But our industry is resilient, constantly searching for new ways to develop better products for healthcare workers and the patients they serve.
What will the medical device industry look like in the future? Today, we wanted to introduce readers to the top trends that we expect to see in the medical device industry in 2021. If you want to hear more from our team and other industry leaders about the impacts of COVID-19 and healthcare delivery, check out our new webinar series.
#1 An Increase in IoT Devices and Applications
Web-based technology has traveled beyond the use of smartphones and tablets to include a more interconnected approach with the Internet of Things (IoT). This system seeks to connect digital devices to healthcare monitoring, which has revolutionized the way that clinicians and patients view their healthcare.
The number of IoT devices has steadily increased over the years. McKinsey&Company estimated that 25% of businesses utilize IoT devices and project the number of IoT devices to jump to over 43 billion by 2023.
Think about the IoT as a web-based universe that connects patient information, data, and needs directly to the healthcare provider, from anywhere. But what do these devices look like? Examples include,
- Air quality sensors
- Sleep sensors
- Biometrics scanners to enable remote work
- Drug effectiveness metrics
- Medical data-transferring tools
IoT integrates smart devices to the patient-care routine, which keeps people better connected, increases virtual monitoring, automates workflow, reduces errors, and streamlines the care process.
This method will be especially effective for remote care, which is anticipated to rise in the coming years. IoT can also be useful for elderly patients, so they don’t have to go to the doctor’s office to refill prescriptions and can access remote tools to monitor their health. This is just one example of the many changes happening in the remote patient monitoring space, and IoT initiatives are likely to play a significant role in that development.
#2 Sophisticated RTLS Tracking
RTLS, or real-time location services, is a technology that allows the tracking of medical equipment, staff, and patients in actual time. RTLS has many solutions like tags and badges, hardware, and technology (Wi-Fi, Bluetooth, Infrared,) all intending to boost quality and productivity. While an already established market, RTLS is projected to grow from $3.4 billion in 2020 to $10.3 billion in 2025, according to the RTLS Marketing report.
It seeks to help hospital personnel effectively manage their assets so hospitals don’t over-purchase or lose precious resources. Tracking valuable medical equipment like workstations, for example, is among the most desirable traits in new technology according to nurses today. We expect this trend to grow into other pieces of hospital technology as well.
CenTrak Security demonstrated an example of how RTLS improved patient care in a hospital in California. The hospital experienced mismanaged duodenoscopes, so they used the Medical Scope Management Solution, which automatically tracks and alerts staff throughout every stage of the scope cleaning process. Now, all members know when a device needs cleaning and any potential infection risks.
Enhanced cleaning, sanitizing, and disinfecting measures will become even more omnipresent throughout the pandemic. Check out our resource for proper cleaning tactics in COVID-19.
As you can see, RTLS technology can extend beyond locating resources to proactively reimagining the way we deliver healthcare.
#3 Broader Focus on Quality Management
Quality over quantity. This tried and true method will still ring true in 2021, especially in the case of medical supplies and devices. With increased spending during the coronavirus, hospitals are strapped for cash. The American Hospital Association projects a $323 billion financial loss due to COVID-19 in 2020-1, meaning hospitals need to make sound investments. They can’t afford to purchase new equipment each year and need durable and dependable equipment with a long life span.
This emphasis on quality will force the device industry to make intentional updates to their products to best function in medical settings today. Workstations, for example, will need to be durable, easy to clean, employ enhanced mobility and flexibility functions, and support these new technologies like Telehealth, IoT, and RTLS.
#4 Operate Around a U.S-Based Supply Chain System
While international trade will always be a vital component of the U.S economy, the manufacturing crisis spurred by COVID-19 incited the need for companies to keep supply chain local.
The virus nearly stopped the healthcare supply chain in its tracks, not only presenting hurdles for items to get from one point to another but more importantly a global shortage of PPE products and risk of cross-contamination in the shipping process. The supply, production, shipping, and packaging have all been affected by this change.
How can these issues be solved? One way is to refocus the supply chain on U.S soil. Our workstations at Altus are all American built. This feature allowed us to epitomize our core value of “Customer First” throughout this crisis, both manufacturing and delivering products where needed.
Companies without this feature experienced a shortage and struggled to provide hospitals with the equipment they needed. Hospitals are looking to partner with companies that have a proven supply chain, and a U.S-based system has been more reliable both in times of crisis and calm.
#5 Re-kindled Focus on Cybersecurity
In our digital era, sensitive data, systems, and processes must be protected from hackers. Not surprisingly, hospitals are a prime target for cybercrimes.
The American Medical Association found that nearly 80% of medical practices have experienced a cyberattack, and COVID-19 is only adding fuel to the flames. USA Today reported that between March and April this year, IBM recorded a 6,000% increase in spam attacks, with health care facilities being the prime victim.
How can healthcare facilities better ward against these damaging data-breaches?
- Implement sophisticated software and defense systems.
- Alter the way they approach passwords (change them often, don’t use the same one for everything, store them in a safe place.)
- Don’t ignore software updates.
- Implement staff training on phishing email scams and other software protection.
Your equipment must be as safe as possible. Manufacturers have an added responsibility to create equipment with built-in protections, and best practices to keep data out of the wrong hands. Our workstations don’t access any patient data, so customers don’t have to risk any sensitive information leaks from our products.
#6 The Widespread Use of 5G Networks
5G is becoming increasingly valuable in the healthcare industry, especially in the boom of Telehealth services. FAIR Health’s monthly regional tracker found that Telehealth claims went up by 8,300% in April 2020, and that number is only expected to rise. In fact, the Centers for Medicare and Medicaid (CMS) already loosened restrictions on telehealth initiatives, including expanded access to virtual care as well as better physician payment models.
With the increasing demand for Telehealth models and other technologies in the healthcare space, establishing a proper connection becomes a vital component for effective delivery.
5G network capability and compatibility will play an important role in the delivery of healthcare in the future. It will extend connectivity and access for hospitals, facilities, and patients, especially in rural areas. It will allow large amounts of data to be transmitted quickly, which has the power to improve communication, treatment, and prevention from the ambulance to the ER to regular check-ups to real-time health monitoring.
#7 Commitment to the Patient Experience
The healthcare industry seeks to optimize the health and wellbeing of every patient. In the device industry, it’s our responsibility to continue to make innovative solutions to improve the experience of our customers and the patients they serve. Manufacturers need to think about how their product interacts with and enhances new technologies, prioritizes ergonomic function, advances workflow, and raises productivity.
At Altus, we are doing this by,
- Creating workstations with built-in web cameras for Telehealth practices.
- Reducing workstation weight with iPad compatible docks, improved wheel technology, and strong chargers.
- Implementing dual-screen capabilities for better access to both clinicians and patients.
- Hone our operations system to meet increasing demand and need throughout COVID-19.
2021 will likely bring about the extensive use of technologies that have been circulating on the perimeter for years. Properly leveraging that technology will be crucial for the medical device industry to keep meeting the ever-growing need. We are optimistically looking to the future and are looking forward to new solutions that will have a significant impact on hospitals and how they serve patients.