Blog posts tagged in telehealth

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In the past few years the telemedicine market has grown substantially. A report estimated that the global telemedicine market would grow from $14B in 2014  to $35B in 2020. This growth has attracted many new players aiming to ‘disrupt the healthcare market’ including digital health companies, EHRs, technology integrators and providers, amongst others. These companies come in all shapes and sizes, and promise to deliver or enable high quality healthcare from a remote location. Telemedicine threatens to challenge current fee-for-service models by offering value-based care that can surpass many of the current challenges faced by those who work and offer health care.

Telemedicine, for me, solves two major problems. More than 46 million Americans live in rural areas. Telemedicine can help provide specialized services to these underserved communities, and could do this at a much more affordable rate. Another problem that can be solved is the large cost associated with having and retaining specialized services. Healthcare providers can centralize many services, and deliver care from a central point. This can increase the volume of patients served, and overcome many of the logistical challenges being faced by major healthcare organizations. This also means that professional healthcare services could be incorporated in businesses such as retail clinics, where basic primary care is served but not all healthcare services can be delivered. Telemedicine will expand the services they offer, and promise to do so at a reduced cost.

The question still remains – will Telemedicine disrupt healthcare in the way it imagines? Will it cause a new system to be adopted where all retail clinics, hospitals and caregivers access care via smartphones, tablets, or specifically tailored carts with a myriad of peripheral devices? I think this will depend on a few very important and key factors. Firstly, how well will this new technology be adopted? Healthcare technology adoption is famously slow. How will these companies expedite technological adoption in a market that clearly shows resistance to new tech? The second question to be asked is what kind of technology should be added, and what should this offering look like? Developers and integrators have to constantly iterate their technological offering to match customer preferences, and to ensure they add value. That leads to the third question – is there actual validated value that is being added to care being provided. Not perceived value that might encourage some sales, but actual validated value that will lead to the wide spread adoption of telemedicine?

So will telemedicine disrupt the healthcare market? Only time will tell, but the initial signs are promising. Telemedicine does look like the best solution to provide care to a large underserved part of the market.

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