Healthcare services are facing an interesting revolution with telemedicine.
Healthcare is not safe from innovation.
Modern-day technology has healthcare infrastructure facing continuous change.
Possibly the biggest one around is Telemedicine, which offers leading benefits and access to specialized providers between provider and patient.
Remote in-home monitoring, administrative efficiency and cost-effective methods that reduce expenses are other qualities of the provision of healthcare services using information and telecommunications.
Users of telemedicine in the U.S.
As of 2013, it was estimated that nearly 350,000 people were using telehealth services, while over 7,000,000 are potential users for 2018.
The cost-relation towards it is significantly attractive.
For example, 92% of patients save over 30 dollars in fuel costs; 84% of them saved $100 in wages, and 74% saved nearly 150 dollars in family expenses.
Video consultations can also help the medical industry save over 1 billion on video consultations, because digital consultation charges less than face-to-face visits.
Implementation of this type of treatment has helped hospital boost their revenue, as the clinics saw a 2 million dollar rise after including these technologies.
Telemedicine vs Telehealth
As explained by Chiron Health on their website, there are two different definitions for these two, and they stand as follows:
“The term telehealth includes a broad range of technologies and services to provide patient care and improve the healthcare delivery system as a whole. Telehealth is different from telemedicine because it refers to a broader scope of remote healthcare services than telemedicine.”
Today, there are currently about 200 telemedicine networks, with 3,500 service sites in the U.S.
A market on the rise
The trend of technology based healthcare is a market on the rise.
Companies from across the globe predict a 32% growth over the next five years.
If the trend continues to expand, company leaders see an industry with a net worth of over 25 billion euros.