Today in healthcare, Johnson & Johnson pointed to medical device sales as one of the keys to its Q2 growth, and doctors with better digital tools are becoming increasingly attractive to patients. Plus, telemedicine’s bubble could burst without better data security.
Johnson & Johnson Q2 Growth Driven By Consumer Products, Medical Devices
Johnson & Johnson posted strong second-quarter results on Tuesday (July 21), beating Wall Street estimates as sales of beauty and skincare products begin to recover from COVID-19 and patients resume previously deferred medical procedures.
The New Jersey-based company reported over $23 billion in sales for the three months ending June 30, a 27 percent year-over-year increase. Sales of medical devices spiked nearly 59 percent, primarily due to patients undergoing medical procedures that had been deferred because of COVID-19.
New Healthcare Study: More Patients Willing To Switch To Doctors With Better Digital Tools
The July 2021 Connected Healthcare: What Consumers Want From Their Healthcare Customer Experiences report, a PYMNTS and Rectangle Health collaboration, shows patients are willing to leave their current doctor for one that offers more digital tools and connected devices in their care protocol.
“A large share of baby boomers and seniors cited secure communications with their provider (28 percent) as a leading reason to switch providers, while Gen Z patients listed appointment reminders (23 percent) as a key motivating factor for a provider change,” according to the study.
Gen Z, millennial and bridge millennial patients willing to change to physicians offering better digital healthcare management tools went from 31 percent in 2020 to 35 percent in 2021.
Data Breaches Are Imminent Threat To Telemedicine’s Future
Some are calling medical identity theft the fastest-growing crime in America, with reams of medical data formerly kept in manila folders becoming the target of hackers as quickly as healthcare providers can digitize it.
PYMNTS’ July Digital Identity Tracker explores how healthcare providers and players within the space are securing patient data and how digital ID verification can help meet federal regulations.
“The Protection of Personal Data in Health Information Systems: Principles and Processes for Public Health” is part of the European World Health Organization’s effort to assist member nations in strengthening health information systems (HIS). Compliance with data protection rules has been a challenge for institutions involved in HIS management.