Wearable Tech Could Play a Strong Role in Health If These Issues Are Addressed

July 22, 2020 13:48:54

Wearable technology is one of the latest and upcoming trends in medicine. Patients’ outcomes, population and other emerging trends are also going to improve due to the growing prominence of the fitness tracking device. This fitness tracking device is also gaining pace in the U.S. as most adults are using it in tracking their fitness habits. However, if the issues below are addressed, then wearable technology will play a smart role in improving the health sector.

The wearable Market Should Start Growing at a Steady Pace

Recent surveys show that 25.1% of adults are the only ones using fitness tracking devices. This percentage is meagre, and for the wearable to gain pace, then it needs to improve. However, it has been noted that from 2012 onwards, the number of those using the application doubled from the previous years. Besides, as more people adopt such technology and keep on relying on it, then the vendors will have to discuss how to keep on improving. Patients also need to be encouraged on the usage of these devices to gain more insights into their health habits. Vendors should also continue to provide more simple tools to make wearable technology more marketable.

Giving Incentives to Physicians

Providing some incentives to health care providers will encourage the use of tracking devices. For example, 48% of patients are willing to use the tracking devices if only they’re recommended by their physician. This large number of patients can therefore only start using wearable tech when physicians are motivated by being given some little incentives. Furthermore, promoting the use of these devices should be a vision for the physicians who are aiming to get a great insight into their patients’ population. However, it may only happen with additional compensation from either the vendors or the patients nudges them to recommend the devices.

Formation of Concrete Partnerships between Providers and Insurance Companies

Health insurance companies have the key to promote the global use of fitness devices. But, it will only happen if health insurance could offer affordable premiums to patients. For instance, Humana Insurance has a program that allows its employees to acquire fitness tracking devices at some available discounts. Furthermore, for the steady development of fitness and health tracking among patients, providers should adopt the possibility of giving the tools to patients freely or at a subsidized cost. The providers should also collaborate with insurance providers to establish information-sharing systems for such data. The information will be essential to physicians in monitoring their patients and they will be able to provide accurate diagnoses. It will, in turn, lead to the development of wearable technology in the health sector, thus its broader adoption.

If the above-discussed steps can be adopted, wearable technology will significantly improve the health care systems and better services will be provided to patients. That type of data-driven world is probably what entities like LexaGene Holdings Inc. (TSXV: LXG) (OTCQB: LXXGF) long for since access to data for developing effective products will be a whole lot easier.

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