Before seeing what IoMT stands for, we’ll ask you a question. Do you know that LASTING Software developed solutions underpinning 93% percent of the pharmaceutical companies’ trials?
Our company provides fast prototyping, and links your business intelligence to the real world, via connected systems and the cloud. Healthcare solutions are a field we are experienced in. Our solutions are greatly appreciated. They place us right in the middle of the digitization movement that takes place in this industry as we speak.
What is IoMT?
IoMT translates as the Internet of Medical Things, a specialized branch of IoT. It comprises all web-connected medical devices.
Expected to reach $136.8 billion worldwide by 2021, according to this report by Allied Market Research, the IoMT is expanding, with the patient monitoring application segment in lead position.
With scientific & technological advances, such as these smart pills that notify an app whether the patient took them as prescribed or not, the healthcare devices are set for a spectacular growth rate in the short to medium future. Subsequently, so are the apps and software solutions that will collect, process and analyze the resulting big data.
As Forbes put it, “the IoMT can help monitor, inform and notify not only care-givers, but provide healthcare providers with actual data to identify issues before they become critical or to allow for earlier invention”.
A sub-segment of the IoMT consists of pharma IoMT – involving drug development & treatment processes digitization.
The reason for IoMT’s slower evolution
It is well known that the healthcare industry adopts the Internet of Things technologies at a slower pace, compared to other industries. As the certification/approval procedures prove it, each device, software solution, innovation and generally each new piece of technology needs to undergo a thorough process of verification and validation in this industry.
The reason is in fact simple – people’s lives may depend on it. By consequence, there is no place for faulty hardware or software in an industry such as healthcare. Of course, the question of trusting someone’s life entirely to AI is still in its theoretical debate phase. Nevertheless, all products that officially form the IoMT have to successfully pass the trial and certification phases.
Combining the fact that software engineering is now a global activity, with the lower prices-better quality phenomenon, allows for skilled engineers to program efficient hardware in this field. As mentioned above, we are looking forward to a vast increase in the number of medical devices in the next few years.
Turning healthcare data into powerful insights
Once collected, the IoMT data holds a vast potential. It’s also Forbes that mentions the “healthcare’s cultural metamorphosis”, in the article we quoted above. Turning this data into useful insights medical professionals can act upon is the next big step.
Here enter the efficient software solutions. Bringing AI algorithms together with cyber-security features, the healthcare software solutions make sure to link patterns and interpretations with the initial raw information.
It’s a wonderful world of possibilities.
Also, it is a field where discipline, data privacy, efficient work procedures and compliance are all of highest importance. Cost-efficiency in the healthcare software solutions field means working with the best professionals. Providing experience, a customer-minded work style and respecting the commonly agreed procedures are important during the development stage. Going with the cheapest partners may prove costly over time, endangering the solution’s approval or being a potential liability.
Having a rock-solid digital technology foundation lists as one of the best ways of to combat security risks within medical devices.