The Internet of Things has revolutionized nearly every industry, and health care is no exception. The cloud, big data and artificial intelligence have created a new ecosystem for how – and when – we are connected.
Sure, the IoT phenomenon spells huge opportunity. Technology can make processes like health care delivery and monitoring more efficient and precise. But as news reports tell us, it also gives way to major vulnerabilities.
What’s more, is that although the IoT shows no sign of slowing (McKinsey estimates that the impact of the Internet of Things on the global economy could reach $6.2 trillion by 2025), not everyone is keeping up. As McKinsey found, “…the corporate leaders polled admit they lack a clear perspective on the concrete business opportunities in the Internet of Things given the breadth of applications being developed, the potential markets affected—consumer, health care, and industrial segments, among others—and the fact that the trend is still nascent.”
This conversation is particularly important for medical device companies who manufacture connected devices – the ones that use other devices or networks through wireless connections like Bluetooth, Wi-Fi or cellular data (3G, LTE, etc.). In the medical world, these are wearables and home health monitoring devices like wirelessly connected blood pressure monitors, insulin pumps, monitoring machines and more.
Connected devices represent a major – and growing – industry. In fact, it is estimated that by 2021, the number of wearable medical devices shipped could reach 100 million. For context, that number in 2016 was 2.5 million.Aside from the ongoing challenge of patient data security, medical device manufacturers must also protect the functionality of the device itself. Layer on top of that communications expectations from stakeholders like investors, buyers and customers. It is a perfect storm for manufacturers to emerge as leaders.Click To Tweet
The threats and vulnerabilities of cybersecurity will always be in flux. Preparing for the unexpected – and planning the communications around those inevitabilities – will position companies to emerge as leaders.
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