In this study, the latest research articles which are involved in the Internet of Things (IoT) based healthcare system are analyzed as the IoT is growing enormously in the healthcare systems such as health monitoring, fitness programs, etc. Numerous research has been carried out in the IoT based healthcare system to improve monitoring efficiency. The architecture used in the IoT especially the cloud integrated systems are investigated in this work. The factors such as accuracy and power consumption are the important concern in the IoT, hence the research works which are involved in improving the performance of the IoT based healthcare systems are discussed. Data management methods in the IoT based healthcare system with cloud facilities are also systematically analyzed in this study. The performance of the IoT based healthcare system along with its advantages and limitations are reviewed. Most research works are efficient in detecting several symptoms and can accurately predict the diseases. The IoT based healthcare system designed especially for elders is an efficient solution in monitoring their healthcare issues. Major limitations in the existing systems are high power consumption, availability of fewer resources and security issues due to the utilization of many devices.