SOURCE: Parks Associates

Parks Associates

September 02, 2016 09:30 ET

Connected Health Summit Addresses Impact of Technology and Innovation on Consumer Healthcare

Walmart, Medtronic, Samsung, and HumanaVitality Provide Visions for Future of Healthcare and Wellness

SAN DIEGO, CA--(Marketwired - Sep 2, 2016) - International research firm Parks Associates wrapped up the third-annual Connected Health Summit: Engaging Consumers in San Diego this week, hosting close to 300 executives and featuring more than 50 speakers, including keynotes from Annette Brüls, President, Diabetes Service and Solutions, Medtronic; Alex Hurd, Senior Director, Product Development, Growth and Payer Innovation - Health & Wellness, Walmart; Dr. David Rhew, Chief Medical Officer and Head of Healthcare and Fitness, Samsung Electronics America; and Stuart Slutzky, Chief, Product Innovation, HumanaVitality.

"Consumer engagement is the core focus for the event, and our speakers this year are focused on the specifics of how to achieve this engagement," said Harry Wang, Senior Director, Research, Parks Associates. "Throughout the event, healthcare executives discussed strategies to achieve consumer engagement, such as how to define and track engagement, what is the role of the pharmacist, how can connected devices impact chronic conditions, what is the best environment to approach consumers about health and wellness solutions, and what is the impact of apps on consumer behavior."

Parks Associates research shows the adoption of connected healthcare devices has increased 40% since 2Q 2014 but only 13-14% of U.S. broadband households show interest in new health management services.

"The industry needs to focus on metrics such as Net Promoter Scores (NPS) for healthcare solutions, which are key measurements of consumer satisfaction with a solution," Wang said. "As part of the ongoing shift to a consumer-focused market, it is essential for companies to be attentive to consumer needs and maintain strong consumer connections. They can take lessons from outside the industry, from successes such as Pokémon Go, in designing healthcare apps and solutions."

Connected Health Summit focused on continued market challenges and opportunities. Parks Associates research indicates the number of people 65-85 will account for more than 16% of the total population by 2025 and chronic disease currently accounts for more than 70% of total healthcare costs. Of the more than 60% of consumers in U.S. broadband households with a chronic condition, 11% do not have a primary care doctor.

"Only 36% of U.S. consumers living in broadband households know that their employer offers a sponsored wellness program, and among them, more than half choose not to use it," Wang said. "Making these solutions seamless and easy is critical to usage."

Conference sponsors include Independa, higi, ARM, Care Innovations, Healthways, Alarm.com, Honeywell, MEDL Mobile, MultiTech, New Fields Technologies, PokitDok, Z-Wave, ZigBee, the California Health Care Foundation, Bright.md, Medable, and Home8.

Conference supporters include i-HOME, Intelligent Health Association, Internet of Things Consortium, RFID in Healthcare Consortium, Antenna, B2 Group, Best Web Design Agencies, Conference Guru, Consortium for Patient Engagement, CrowdReviews.com, Doctors' Choice, FierceHealthcare, FierceHealthIT, FierceMobileHealthcare, FiercePharma, Healthcare Business & Technology, HomeToys.com, Internet Health Management News, Managed Care, Mediaplanet, mHealth Times, Mind Commerce, Morning Coffee & Health, Open Mobile Alliance, PharmaVOICE, RTC Magazine, SFBayEventsList.com, Smart Insights, Springboard Enterprises, StartUp Health, Story of Digital Health, Telehealth & Telecare Aware, TeleMental Health Institute, The Journal of mHealth, The MedTech Strategist, and Visibility Magazine.

The media data sheet for the event is available online at www.connectedhealthsummit.com. To schedule a meeting with an analyst or speaker, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Connected Health Summit
Connected Health Summit: Engaging Consumers analyzes the role of innovative connected health solutions in driving changes in consumer behaviors as well as healthcare systems, insurers, and hospital networks. The event focuses on four areas of consumer health, which require active consumer participation to be successful: remote health monitoring for accountable care, consumer-centric wellness and fitness solutions, independent living technologies and services, and innovative convenience care models.

For more information on Parks Associates research or Connected Health Summit, visit www.connectedhealthsummit.com. To schedule an interview or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.

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