As I’m confident you’re aware, the House of Representatives voted to pass healthcare reform Sunday evening after one of the most grueling and public legislative debates in our nation’s history. Earlier this morning, President Obama signed the bill into law. Whether you consider yourself conservative or progressive, Americans are united in their belief that this sweeping piece of legislation will have far-reaching effects on a variety of industries and enterprises.
The wireless industry is no different, as is illustrated by the mHealth initiatives playing a leading role at this week’s CTIA show in Las Vegas. And thankfully for consumers, the adage “what happens in Vegas, stays in Vegas” is not applicable to the exciting new wireless health technologies being unveiled daily.
The passage of healthcare reform in conjunction with the recent release of the FCC’s National Broadband Plan provides for expanded opportunities in wireless health technologies, an industry whose market will reach an estimated value of $4.6 billion by 2014. According to a report (summarized here) released Friday by CSMG, the mHealth market is currently expanding at a compound annual growth rate of 25%, with the potential for increased acceleration over the next few years.
Wireless health technologies posses the capacity to revolutionize the way American’s access healthcare. Providing services like low-cost sensors and wireless remote monitoring that translate into the right care at the right time, mHealth can help drive down costs and make overall industry operation more effective.