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New Reimbursement Guidelines As A Result of the Affordable Care Act Will Spur Expansion in the U.S. Patient Monitoring Device Market

Installed Base of Home Care Patient Monitoring Devices Will More than Triple by 2022, According to Findings from Decision Resources Group

Decision Resources Group Logo. (PRNewsFoto/Decision Resources Group) (PRNewsFoto/)

News provided by

Decision Resources Group

Apr 16, 2014, 12:30 ET

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BURLINGTON, Mass., April 16, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States patient monitoring device market will expand modestly through 2022, benefiting from a number of changes implemented as a result of the Affordable Care Act. More specifically, changing Centers for Medicare & Medicaid Services (CMS) reimbursement guidelines that support a shift toward pay-for-performance and penalties for hospital readmissions will motivate hospitals and physicians to more closely monitor patients and provide the highest quality of care. This will spur increasing demand for patient monitoring devices going forward.

Other key findings from the Medtech 360 report entitled US Markets for Patient Monitoring Devices 2014:

  • Home care patient monitoring devices: The new CMS guidelines will have a particularly strong impact on the market for home care patient monitoring devices because their use can significantly reduce hospital readmissions. The adoption of consumer health technology and simplification of reimbursement models supporting home health monitoring, combined with the aging population, will further support this market. As a result, the installed base of home care patient monitoring devices will more than triple by 2022.
  • Mature market segments: Overall growth in the patient monitoring device market will be more modest as a result of the maturity of the large vital signs and anesthesia monitoring system markets. Hospitals have already largely purchased as many of these systems as they need, and with no significant changes in the number of U.S. hospitals through 2022, this leaves little room for new purchases.
  • Less-invasive devices: As part of pay-for-performance guidelines, the CMS now denies reimbursement for treating hospital-acquired infections due to error or preventable causes. Traditional monitoring techniques often involve the use of catheters, which carry a higher risk of infection. As a result, hospitals are increasingly looking to purchase less-invasive monitoring solutions, particularly in the vital signs, hemodynamic and neurological monitoring device markets.

Comments from Decision Resources Group Analyst Stephanie Wood:

  • "Philips Healthcare and GE Healthcare led the U.S. patient monitoring device market in 2013. These companies are well-recognized in many capital equipment markets globally, leading to strong brand loyalty. They also have a presence across multiple patient monitoring device segments."
  • "Companies can differentiate their products by improving the interoperability of their devices with hospital information systems, especially with electronic medical records. At the same time though, companies offering monitors with slimmed-down capabilities are seeing success in more cash-strapped hospitals. A key example here is Mindray Medical International, which has been slowly chipping away at the shares of larger competitors."

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Decision Resources Group 
Christopher Comfort 
781-993-2597  
[email protected]

Logo - http://photos.prnewswire.com/prnh/20130103/MM36768LOGO

SOURCE Decision Resources Group

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