Market Research Report
Remote Patient Monitoring: Pharma's Challenge and Opportunity
|Remote Patient Monitoring: Pharma's Challenge and Opportunity|
Published: August 18, 2020
Delivery time: 1-2 business days
Accelerated by COVID-19, use of remote patient monitoring (RPM) technology has grown rapidly. Increasingly trusted by HCPs and patients and with a favourable regulatory environment, RPM is seen as key to delivering improved patient management and driving the preventative health agenda with its associated societal benefits. Tech giants are already muscling in on this sector, so where does that leave pharma? Commercial models based solely on developing drug therapies may not cut it in the future, so how can pharma companies benefit from current RPM opportunities and what are the long-term implications for their businesses.
RPM is key in the digital health transformation and a clear understanding of the future direction is essential. That is why, in ‘Remote Patient Monitoring: Pharma's challenge and opportunity ’, we interviewed leading RPM experts to give you a clear perspective of the current thinking, technologies, applications, opportunities and challenges that are shaping this rapidly emerging technology sector.
"Healthcare provider adoption used to be the big barrier, with doctors saying, 'I'm taking care of my patients fine. I don't need to do all this fancy stuff.' Well, now patients are not walking through the door and so doctors have got to figure out new ways of working with them. So, the barriers that were there in January are no longer there because of the circumstances we find ourselves in with COVID-19. Providers are much more open to using technology. Previously, they saw them as a little distancing. The biggest thing that has happened for RPM is the pandemic; it has changed the picture entirely."
"Pharma could certainly form relationships with tech companies to understand the nature of the information that could be gathered via RPM, what things are possible, and how they could use these devices. For example, in my company, we can ask somebody their blood pressure number or their temperature, which is easy. But we could also have them take a picture of the whites of their eyes, if somehow that was found to be important. We could have them take a picture of a wound healing, if that was important. We could have them do a tap test on a phone, which could measure dexterity or could be an indication of palsy or Parkinson's disease. We can give them a simple test that might be a dementia scoring technique. All of these things are possible with RPM. But I don't know that pharma thinks this way; you've got to understand how powerful these little things are. There was a study that was put out by the Mayo Clinic that said they have a machine algorithm where if a person speaks a couple of sentences, the artificial intelligence (AI) could detect cardiac disease in the tremors of the voice that a human ear can't distinguish."
"The ability to measure drug efficacy and safety has gone through the roof due to RPM - because the person can literally talk to you every day. RPM provides the ability to generate an event-based report to analyse if an event that occurs could be from the result of what they're doing. As an example, if you're asthmatic and you have a rescue inhaler, you're routinely reporting once a week about how things are going and how you're sleeping. But if you have an attack, you can report it immediately using an RPM. You can hit a button and send data in right at that moment, as if you were in the doctor's office during the event. Using the device, you can set up questions to be clinically relevant and capture the information at the moment; for example, were you outdoors? Were you exerting yourself? How many times did you have to use your rescue inhaler? With RPM, efficacy and safety monitoring is going to rise."
The experts who contributed to this report have been carefully screened to ensure they have at least:
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