Patient Monitoring Devices: Repairs & Overview
Patient monitoring devices are on-trend to grow alongside the medical device repair market as a whole. They are often outsourced to OEMs and ISOs for repairs. Prevalence of chronic diseases and the demand of an aging population are fueling these devices’ growth, and new technology is changing the landscape of the types of devices offered. See how patient monitoring devices range in their capabilities, typical repairs, and more.
There are three large categories for these devices: multi-parameter devices, pulse oximetry devices, and telemetry devices. Pulse oximetry and telemetry devices are smaller and more easily replaceable. Multi-parameter devices, on the other hand, are more complex and provide continuous monitoring of various modalities. They make up the largest segment in the patient monitoring device sub-segment of the medical device repair market.
There are three types of multi-parameter devices: low acuity, medium acuity, and high acuity. These categories are based on their capabilities. Prices vary by functionality, as the low acuity devices present less capabilities than high acuity ones. You can find this range of patient monitoring devices in small nursing homes as well as large hospital networks. Because of their wide range of capabilities, smaller centers can pay cheaper prices to use low acuity multi-parameter devices to track basic vital signs for less critical conditions. But, for organizations that need ECG, brain pressure, or cardiac output monitoring, they have to invest in high acuity devices.
Advanced functionality calls for higher prices, which also means pricier repairs. Low acuity devices can cost up to $5,000, whereas high acuity devices reach prices of up to $20,000. The variety of monitors, sensors, cables, etc. with multi-parameter patient monitoring devices can require repairs for circuit boards, screen damage, and more. With repairs, the average shelf life of a patient monitoring device can vary from 7-10 years to up to 20 years.
Although low acuity devices make up 58% of the total number of units in the market, high acuity devices make up more of the dollar market. This is because of the higher costs of high acuity devices, as mentioned. But, the patient monitoring device market is seeing an increase in “smart,” remote, wearable devices, which is causing the market to grow faster. It’s possible that this advanced technology could start to compete with low acuity multi-parameter devices, but only time will tell.
Whether a multi-parameter device has low, medium, or high acuity, at some point repairs will be necessary, and that’s where CSAT comes in. If you’re concerned about whether your repair capabilities are cost-effective, partnering with CSAT may be the solution for you. Learn more about our medical equipment repair services for patient monitoring devices and contact us today.