The use of telemedicine technology to remotely monitor patients at home has surpassed the use of telemedicine in clinical settings, according to a new report by London-based Datamonitor, Health Data Management reports.
The research firm estimates that home-based telemedicine will grow at a five-year compound annual rate of 56%, compared with 9.9% in the clinical market. The total telemedicine market value in North America and Europe will exceed $8 billion by 2012, according to the report.
The report attributes the growth of home-based patient monitoring to an aging population and a shortage of clinicians. The researchers also note that preventive care through home-based telemedicine can help curb rising health care costs.
The lack of insurance reimbursement is a major obstacle to further growth of home-based telemedicine, according to the report. It added that making telemedicine an important part of daily medical practice and integrating it into clinical workflow and electronic health records also are obstacles (Health Data Management, 9/4).