Dallas — Researchers assert that the digital health industry still faces formidable challenges in convincing private insurers to adopt home health monitoring technologies. Yet vendors can overcome insurer resistance by providing independently verifiable trial results and further education regarding the benefits of home health monitoring technologies, according to “Private Insurance and Digital Health Solutions,” a new study by Parks Associates. The research is based on January 2008 interviews with 20 senior executives from the private health insurance industry.
“With U.S. market potential of $2.5 billion in device and service revenues by 2012, the home health monitoring industry has every incentive to convince private insurers, along with other potential payers, of the technology’s value and feasibility,” said Harry Wang, senior analyst, Parks Associates.
The study outlines 12 major findings and 10 key recommendations for vendors to strengthen home health monitoring technologies’ visibility and value proposition, including providing independently verifiable trial results, gaining recognition from the medical community and presenting a practical plan that will prevent over-utilization of the technology.
“While meeting private payers’ requirements, such as providing a drilled-down explanation about the operational details on how the technology is used by consumers and caregivers is important, the technology industry must also rally support from consumers, caregivers and employers—many self-insured—to influence private insurers’ perception and the technology review process,” Wang said.
Source: Parks Associates
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