How IoT-based asset tracking solutions are transforming equipment management in hospitals?

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What is Asset Tracking

 Asset tracking refers to the organized process of monitoring a business or organization. This includes assets like human resources, moving objects, or non-moving objects. Manufacturers are using these solutions to monitor their assets. Asset tracking solutions comprise barcode GPS tracking solutions. These solutions are providing instruction on managing assets, maintenance strategies, and process control. 

 Asset tracking solutions are getting prominent in the healthcare industry. With the help of these solutions, the medical apparatus is tracked and the movement of patients is protected and controlled. 

Challenges in achieving IoT tracking solutions

1. Unsuccessful and Incomplete IoT Initiatives: 

To explore IoT technologies, fast data transfers and convenience are considered motivations. Several manufacturers deemed their projects unsuccessful. 

2. Data security and privacy: 

IoT asset tracking software transmits data in real-time. Most of them are lacking in protocols and management standards. Due to this, there is difficulty in determining authentic data and ownership regulation. These factors allow cybercriminals to hack the system and misuse data to buy medical equipment and drugs.  

3. Data overload: 

IoT devices store tons of data. Due to the tremendous amount of data, doctors are finding it difficult to derive insights from it. The concern is raising and affecting the quality of decision-making. 

4. Cost: 

The investment required in software, staff training, and infrastructure management is considerably high. The administration needs smart planning to install these asset tracking solutions.

In this case, the experts are needed for the configuration of the software and alignment with business strategies.  

Staggering stats

  • 40% of IoT devices are used in the health care sector
  • Health care revenues are assumed to increase to $135 billion
  • 35% of IT leaders consider cyber security as a barrier to IoT success.

 IoT solutions in the health care sector:

1. Constant reporting and monitoring: 

Real-time monitoring can help in severe cases like diabetes, heart failure, and asthma attacks. The IoT devices collect data like oxygen, weight, and sugar level which are stored in the cloud and transferred to physicians. 

2. Machine-to-Machine communication: 

IoT enables informative exchange, interoperability, and data movement that makes the service effective. Advance ways of treatment to spot ailments and illnesses in patients like Z-wave and Bluetooth LE have been discovered.

3. Real-time tracking: 

Medical IoT devices collect crucial information and send that data for real-time tracking and pass this information to people through mobile apps. 

According to the reports, let's see the statistics of how IoT is continuously growing in the health care sector:

  • There is a 57% increase in workforce productivity
  • Save costs by 57%
  • 36% in creating new business models 
  • 27% improve collaboration with patients and colleagues 

Outcomes of using IoT devices in the health care industry:

1. Identify chronic diseases: 

IoT healthcare technology identifies symptoms of any disease. Devices can trace heart rate, blood pressure levels, and sugar. Software and mobile apps have been developed to take care of medical conditions. 

2. Health care data management: 

Previously, the doctor has to do a lot of manual work to maintain the patient's data. Now the devices can capture voice orders and control the patient's data. 

Stats and Data

  • 60% of healthcare sectors use IoT devices 
  • 73% of organizations use it for maintenance and monitoring
  • 87% of sectors are planning to implement IoT in the coming years

Key Points: 

  • The implementation of digital technologies in health care is boosting industry growth. 
  • It has been found in a survey that more than 3000 IT enterprises in around 20 countries are introducing IoT for fostering innovations in patient monitoring. 
  • Due to the increasing demand for identifying chronic illnesses the technology is demanding for IoT solutions. 

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