Is Telemedicine The Future Of Healthcare?

Telemedicine enables improved access and monitoring for chronic conditions. Favourable patient experiences and changes in the regulatory environment are also driving increased uptake of telemedicine. There has also been tangible investment into technology for telemedicine, as the longer-term cost efficiencies are being recognised. Venture capitalist digital health investment increased three-fold between 2017 and 2020.

What does the future hold?

As the benefits of telemedicine have been recognised, there is no sign of returning to the business as normal prior to the COVID-19 pandemic. Fortune Business Insight predicts the global telemedicine market will grow from $41.63 billion in 2019 to over
$397 billion USD by 2027.

Patients will come to expect timely access to specialists without the need to travel,via telemedicine. Hospitals and providers who invest in telemedicine capabilities and develop high-quality care delivery models will come out ahead, while those who do not may be left behind.

How to leverage telemedicine to optimise care delivery?

Patient experience

As patient demand has been a critical driver for telemedicine, meeting patients’  expectations will be significant for providers who wish to grow their telemedicine practice. Optimising patient experience for telemedicine should focus on the user interface, quality, convenient care, video and audio quality, and seamlessly integrating all aspects of patient engagement.

Integrated systems

Cloud-based platforms enable integration of all aspects of workflows, including electronic medical records (EMR), referrals, appointment scheduling, billing, messaging, document sharing, follow-up etc. Systems must be fully compliant with local data protection regulations, such as HIPAA and GDPR.

Use of remote patient monitoring

The use of connected monitoring devices in conjunction with telemedicine can aid assessment and help proactively identify care gaps and intervention opportunities.

Hybrid care models

Care models are evolving to integrate telehealth, other virtual health solutions, and in-person care, with the potential to improve access, outcomes, and affordability. There is a move towards value-based care, with alignment of incentives for virtual health activities, breaking out of the fee-for-service mentality and concerns about reimbursement parity.

Final thoughts

Innovation is crucial for any industry to adapt and thrive, and healthcare is no exception. Rather than a threat to traditional care delivery, providers are now recognising telemedicine as an opportunity to transform healthcare delivery with the potential to improve access, reduce costs, and increase quality and patient satisfaction.

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