Technological advancements are allowing healthcare systems and payers to shift more and more aspects of care from the hospital to the home. In this Market Map, we look at the companies working on tech for in-home diagnostics, virtual care, medication adherence, and more.
The living room couch is the new exam room.
Accelerated by the Covid-19 pandemic, homes have become a more important setting for healthcare delivery — complementing traditional settings like hospitals and clinics. A number of trends suggest that home care delivery will only grow in popularity.
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For instance, an aging population in the US will add pressure to existing healthcare infrastructure while also creating more demand for tech-driven services that can be delivered in the comforts of a patient’s home — increasing convenience and accessibility. About $265B worth of care for Medicare patients could be delivered at the home by 2025, according to McKinsey, a more than 3x increase from current levels.
Another driving factor is cost. Johns Hopkins said that its hospital-at-home program allowed savings of 30% in comparison to the cost of inpatient care.
In response to these trends, healthcare systems and payers are eagerly looking for technologies to provide more home care services. The type of care being provided at home has advanced from remote patient monitoring to at-home diagnostic testing and even hospital-level care in some cases.
Using CB Insights data, we identified 232 companies addressing 14 technology priorities of healthcare systems and payers related to at-home care, from remote patient monitoring to comprehensive home health enablement.