The use of wearable technology is still in its infancy but is growing at a rapid pace. 1 in 5 Americans now owns a wearable tech device. 56% of those consumers believe that the average life expectancy increases 10 years due to wearables monitoring vital signs.
The future of wearables will not only help to cut healthcare costs for both consumers and employers, but can also provide numerous benefits for both insurance providers and subscribers. Long-term wearable tech benefits include real-time payment adjustments, health lifestyle rewards as well as the ability to track recovery from medical procedures.
The following infographic created by Northwestern University of Professional Studies illustrates how wearables are revolutionizing healthcare services. The infographic highlights that 44% decrease in sick days for employees that wore wearable devices. Over the course of 25 years, it’s estimated that wearable technology and remote patient monitoring technologies could cut hospital costs and save more than $200 billion.