Wearable tech


WEARING YOUR HEALTH ON YOUR SLEEVE


Chris Brooking and Tom Kennedy, healthcare liability underwriters at Barbican Insurance Group, discuss with HRMR the potential benefi ts and the risks of embedding wearable technology into healthcare services.


rate: Deloitte’s TMT Predictions 2014 Report anticipates that the 10 million units expected to be sold in 2014 will rise to 170 million units by 2017.


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The sharp increase in the use of such devices is helping generate large amounts of health-related data and there is a growing awareness of the  also in the context of general healthcare.


Alleviating the pressure According to Chris Brooking, underwriting manager for healthcare at Barbican Insurance Group, while wearable technology does not   clearly has the potential to do so.


22 | HEALTHCARE RISK MANAGEMENT REVIEW | Annual 2014


earable technology is widely expected to become an increasingly common part of our lives, whether it is in the   such as Google Glass. The market is growing at a phenomenal


“Hospitals and Accountable Care Organizations (ACOs) are currently      coupled with a sharp rise in cases of chronic illness,” says Brooking.


“They are having to focus much more on the management of long-term conditions, which require round-the-clock care and constant monitoring of patient vitals. The costs associated with maintaining this level of care are huge and the use of wearable technology has the potential to play a role in helping alleviate some of the costs and reduce the resource pressure these organizations are under.”





expenditure in 2012 at $6.5 trillion. Between 2000 and 2011, the per capita total expenditure on health in the US rose from $4,790 to $8,467. This upward trajectory looks set to continue, with the National Health Expenditure Projections 2013–2023 report published by CMS.gov (Centers for Medicare and


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