It’s no secret that digital technology is transforming the healthcare sector at a rapid pace – and for the better. The McKinsey Global Institute estimates that healthcare technology solutions such as remote monitoring, artificial intelligence, and automation could save the industry between $1.5-$3 trillion a year by 2030.

Today’s challenging economic environment has prices at the forefront for everyone. This heightened cost-consciousness is creating new opportunities for MedTech companies that can solve expensive healthcare challenges, such as staffing, operations, patient outcomes and more.

Colliers Insight
Misty Bowe
“Now three years later, consumers are opting for home care, remote monitoring devices, and medical office settings rather than going to large, traditional hospitals.”

Forging New Care Possibilities with Next-Generation Technology

The pandemic accelerated the shifts happening in healthcare delivery. Now three years later, consumers are opting for home care, remote monitoring devices, and medical office settings rather than going to large, traditional hospitals.

According to Accenture, 75% of MedTech executives expect expanding these changing care settings and models to impact their company’s long-term strategy.

Twin Cities Pain Clinic is a key example of the kind of innovative care that patients are flocking to. The clinics use Abbott’s proprietary technology to treat chronic pain in their outpatient surgery centers.

The clinic’s Assistant Medical Director, Dr. Sherri Haas, explains: “The ability to treat pain in multiple areas of the body using a single device that does not require recharging makes the Proclaim Plus a uniquely innovative, opioid-free treatment option. Introducing this new device allow us to provide more comprehensive results for many of our patients.”

Coupling advanced technology with more accessible outpatient settings is transforming patients’ ability to seek effective treatment.

Transforming the Patient Experience

The patients of today are different and have come to expect more from their healthcare, and rightfully so. Post-pandemic research indicates patients desire more autonomy in their care: “Patients are taking more control of their healthcare experiences. They’re demanding continuous engagement. And they’re gaining a better understanding of their health.”

One health provider that’s the pinnacle of technology and delivery converging to transform the patient experience is Sonex Health, a health clinic dedicated to treating carpal tunnel release with ultrasound guidance.

Per Sonex Health, Carpal Tunnel Syndrome (CTS) affects an estimated 13 million people in the U.S. Carpal Tunnel Release is also a procedure that is often deferred due to its long recovery period, which typically requires patients to take weeks off work, making it impossible for many.

Sonex’s ultrasound technology has a recovery time of only three to six days and is performed under local anesthetic in an office setting. This new approach utilizing an innovative medical device removes the barriers to treatment for many of those suffering from CTS.

Twin Cities Pain Clinic and Sonex Health are just two of the hundreds of cases of how MedTech is reducing costs, creating more better care settings, and revolutionizing what’s possible in the treatment for patients.