An increasing demand for expanding broader healthcare access along with rising geriatric population that is now unable to travel to hospitals is expected to become the key driving factor for the overall growth of the global remote patient monitoring market during the course of the forecast period ranging from 2019 to 2027. In addition to this, cost efficiency of managing multiple medical resources together along with growing cases of several chronic diseases as well as substantial progress made in the telecommunication systems are also projected to help the overall development of the global remote patient monitoring market in the coming years of the forecast period.
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Remote patient monitoring (RPM) devices allow remote monitoring of patients outside the usual settings thereby bettering the access to and efficiency of healthcare. Remote patient monitoring devices are utilized for the monitoring and management of an extensive range of health conditions. These systems make an offering of alerts when the condition of health deteriorate, which enables clinicians, caregivers, and patients make interventions and modify the plan of treatment. All these factors are estimated to pave way for rapid growth of the global remote patient monitoring (RPM) market.
One Must be Wary of Healthcare Frauds
Healthcare fraud is an important consideration in the area of telehealth and telemedicine practices. There are numerous ways a patient or a physician can be victimized—for instance, the physician’s name and accounts can be used to receive payments from the insurance company, or non-eligible or non-listed institutional providers can practice improper coding and billing for false claims.
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North America is estimated to account for a sizeable chunk of the global remote patient monitoring (RPM) market throughout the tenure of analysis, from 2019 to 2027. High growth of the North America market is attributed to the growing need to lessen healthcare-related expenditure, expansion of geriatric population, and increased prevalence of chronic conditions. Europe is estimated to trail North America in terms of revenue and growth.