The use of wearable technology is still in its infancy, but its growth is very fast. One in five Americans now have wearable technology devices. Of those who own these devices, 56% believe their life expectancy will be extended by 10 years because they can monitor their vital signs.
In the future, wearable devices will not only help cut the cost of medical care for consumers and employers, but also provide many benefits to insurance companies and insurance-buying customers. The benefits of long-term use of wearable technology include real-time payment adjustments, rewarding healthy lifestyles, and the ability to track medical recovery.
The infographic below was created by the Northwestern University School of Adult Education, which illustrates the revolutionary impact of wearable devices on healthcare services. The chart highlights employees who use wearables, and their sick days are reduced by 44%. It is estimated that in the next 25 years, wearable technology and remote patient monitoring technology can help hospitals save money and save the health care industry more than $200 billion in expenses.
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