London, United Kingdom (PressExposure) December 28, 2009 -- The expansion of the homecare segment, overcrowding in hospitals and increased demand for continuous care for the elderly is leading to growth in the remote patient monitoring market.
However the lack of reimbursement for remote patient monitoring equipment has been a restraint to this market. Off late various payor organizations have been lobbying for including remote monitoring and home care devices for reimbursement and it is likely that we will be able to see a favorable legislation in the future.
Factors supporting such an initiative include reduced costs for hospitals and care providers; demand for chronic patient care out-weighing availability of hospital beds; labor shortages to provide patient care; integration of technology, electronics and healthcare to provide better diagnostic and therapeutic options; reduced cost for payers and insurance companies; and rapidly ageing population driving the market for home based care.
This analysis was taken from a research paper published by GlobalData, to download the full Research Paper for free, click below:
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