New research from the Mountain View, Calif.-based research firm and consulting firm, Frost & Sullivan, says the mobile health (mHealth) market earned revenues of $230 million in 2010, a number which will grow to $392 million by 2015. The report says the mHealth market has seen substantial growth and will continue to expand and transform the health IT market.
"From 2008 to 2010 mHealth consistently outpaced forecast growth and revenue," Frost & Sullivan senior industry analyst Zachary Bujnoch, said in a statement. "mHealth apps will continue on a steep growth curve as increasingly sophisticated mobile technologies and relationship-management tools disrupt the market."
The report says near-term growth will occur as more new users purchase mobile apps and current users continue to purchase and use more mHealth apps. Based on this, it follows that app purchase revenue will grow.
However despite these growth opportunities, the report says there will be some challenges and obstacles to this growth. This includes regulatory issues and consumer engagement.
"Consumer awareness is mixed, with privacy and security concerns ever present in the mHealth market," said Bujnoch. "Also, while still overall a good thing, increases in FDA regulation and oversight may dampen innovation."
Eleven private insurers, including Aetna, Humana and Anthem, are urging the Congressional Budget Office (CBO) to consider the experience of commercial insurers when evaluating the impact of telemedicine coverage in Medicare.
With the aim of improving patient safety monitoring, the Agency for Healthcare Research and Quality (AHRQ) within the U.S. Department of Health and Human Services (HHS) is currently developing and testing an improved patient safety surveillance system.
The Bill and Melinda Gates Foundation is awarding $210 million to Seattle-based University of Washington’s Population Health Initiative, with the funds going toward the construction of a new building to serve as the initiative’s hub.
More than half (56 percent) of healthcare professionals believe their organization could be doing more to educate employees on HIPAA compliance and the rules around sharing protected health information.
The Arnhold Institute for Global Health at the Icahn School of Medicine at Mount Sinai is partnering with DigitalGlobe to create the Health Equity Atlas Initiative (ATLAS), a platform that standardizes and maps population data in order to generate insights that address health inequities.