Medtech and the Internet of Medical Things

With the increasing popularity of connected medical devices, the rise of the Internet of Medical Things (IoMT) is making a major shift in medical care, and both medical institutions and medical technology companies face many challenges. Therefore, how to develop new business and operation models and develop better care quality at a reasonable cost has become an urgent issue.

Challenges and opportunities for medtech

The medtech industry has an important role to play in helping to reduce costs, improve the quality and efficiency of care and support the shift to value-based care （VBC）. However, the industry also faces a number of systemic challenges and opportunities that need to be addressed for the full value of the IoMT to be realised. These include:

• Developing an in-depth understanding of end users
• Developing new funding, business and operating models
• Understanding interoperability requirements
• Maintaining cybersecurity
• Successfully navigating regulatory change
• Attracting digital talent and building digital capability
• Maintaining trust in a digital age
• Improving the adoption of medical technology at scale

The rise of the Internet of Medical Things

As advances in computing and processing power, wireless technology and miniaturisation drive innovation in connected medical device development. The rise in the numbers of connected medical devices, together with advances in the systems and software that support the capture and transmission of medical grade data, connectivity technologies and services, have created the Internet of Medical Things （IoMT）. The IoMT brings together people （patients, caregivers and clinicians）, data （patient or performance data）, processes （care delivery and patient support） and enablers （connected medical devices and mobile applications） to deliver improved patient outcomes efficiently.

How will the IoMT evolve to impact care

The health care and life sciences industries are in transition from reactive and largely episodic models of care that are provingincreasingly costly and inefficient to operate, to care models that are proactive, digitally-enabled and deliver better value for patients. Medtech companies and the IoMT can capitalise on the possibilities presented by these changes to help to connect patients, providers and payers and enable them all to become more patient centric, productive and cost effective. These and other developments provide clear opportunities for medtech to transition from a provider of innovative products to an insightful partner in health care. The key enablers driving the IoMT and the transformation of health care include:

• Collaboration between health care providers and medtech is key to the effective deployment of the IoMT
• Joining the dots between connected medical devices and health care IT systems

Applying advanced analytics to the data generated from connected medical devices to provide critical insights and empower better decision-making