A new pilot program from Medicare aims to unlock the full potential of wearables in the US healthcare system, and it’s centered around one key issue: how these devices can actually improve health outcomes.
A Wearable Industry in Need of Data
For years, wearable devices like smartwatches and fitness trackers have been flooding the market, with millions of consumers using them to track their health metrics, from heart rate and steps taken to sleep quality and nutrition. But despite this widespread adoption, there’s a major catch: insurance coverage for these devices is spotty at best.
This lack of coverage has been a major obstacle for the wearable industry, which is projected to be valued at over $51 billion by 2025. Without solid evidence of how these devices can improve health outcomes, insurers are hesitant to cover them – and without coverage, consumers are left footing the bill themselves.
Medicare Takes the Lead
That’s where Medicare’s pilot program comes in. By facilitating access to wearables while gathering data on their effectiveness, Medicare hopes to create a roadmap for broader insurance coverage. The program will provide wearables to a select group of participants, who will wear them for a set period of time and share their data with researchers.
By analyzing this data, researchers will be able to identify patterns and correlations between wearable data and real-world health outcomes – providing a much-needed proof point for the industry. This, in turn, could pave the way for more widespread insurance coverage, making it easier and more affordable for consumers to access these devices.
A Big Deal for Consumer Health
So what does this mean for consumers? In short, it means that wearables could soon become a more integral part of the US healthcare system – and that could have a major impact on public health.
By making it easier for consumers to access wearable devices and track their health metrics, Medicare’s pilot program could help people identify health issues earlier, manage chronic conditions more effectively, and even prevent illnesses altogether. And with more insurers likely to follow Medicare’s lead, this could become a reality for millions of Americans in the not-too-distant future.
