Telehealth is poised for exponential growth, with a projected market value of $3.5 billion by 2020. As they grow, fueled by reimbursement and demographic changes, healthcare organizations need to have a clear vision of the goals of their telehealth infrastructure.
Where care occurs, a successful telehealth system must have flexible components that integrate with existing technologies, all while maintaining proper patient data security and must be available. HIPAA compliance and security can be challenging with the rise of providers and healthcare apps using their own devices.
Systems must be scalable to accommodate an increasing amount of technological components and information in order to prepare themselves for this projected growth. This article’s aim is to help define which characteristics make a telehealth infrastructure program successful in reaping the benefits of this revolution in healthcare.
With a documented annual growth rate of 40% for the next five years, the telehealth market is expanding from the U.S. Healthcare organizations are playing catch-up in how they will supply and integrate telehealth services in their programs.
So as to incorporate services, healthcare organizations will have to assess and construct a program with the six essential elements of a telehealth infrastructure including hardware, applications, IT infrastructures, IoT design, and data and individual security.
It’s vital to first understand five factors fueling the expansion of the market to create this infrastructure that is telehealth. Those factors include the increase in the U.S. population of the older, forthcoming changes in regulatory policies, those with chronic diseases, patient and provider receptivity, and budgetary constraints.
Knowing how these variables affect telehealth systems and new will help prepare organizations for this expansion in telehealth services.
The first driving factor of growth in telehealth is the demographic shifts in the U.S. population. The number of individuals is estimated to reach 71 million according to the CDC, making up almost 20% of the populace, as compared to.
This increase is very prominent in those aged 80 years or over, with a growth from 9.3 million in 2000 to 19.5 million in 2030. This shift has led to rethinking the way in which care is provided by them. They’re currently adopting and adapting using technology to augment care and enhance workflow to accommodate this requirement that is growing.
The second key factor of telehealth’s growth is the growing proportion of Americans with a chronic disease. Forty-five percent of Americans, or 133 million people, have at least one chronic illness.
These chronic diseases account for almost 75 percent of all health spending in the U.S. and are responsible for 7 out of every 10 deaths in the U.S., killing over 1.7 million Americans annually. These numbers are only expected to grow, with estimates of chronic diseases affecting 164 million people, or 49 percent of Americans.
These chronic diseases need an elevated frequency of physician visits, disease monitoring, and screenings, which may all be facilitated and managed through telehealth services.
The shift in policies is the contributing factor to the growth in telehealth. Over 150 pieces of telehealth legislation were introduced throughout the past couple of years. These changes in policy are currently resulting in an improvement in reimbursement for digital and telehealth healthcare.
As of late 2018, according to the middle of Connected Health Policy, 50 states supplied reimbursement for live video in Medicaid fee-for-service, a payment model that’s dependent on the quantity of care instead of the quality of care. While only 11 states reimbursed for store-and-forward, the collection of clinical information and electronic transmission to a different site for evaluation.
The biggest barrier to adopting telehealth services was mentioned as the absence of reimbursement; any alterations from the reimbursement policy increase and will fuel adoption rate growth. A new proposal from the Centers for Medicare & Medicaid Services to reimburse virtual check-ins may indicate a shift in policy towards telehealth.
The fourth factor motivating the growth in telehealth providers is patient and provider receptivity of telehealth. More than three-quarters of consumers (77%) have shown interest in utilizing telehealth programs, and more than 65% are prepared to use telehealth to manage their chronic diseases.
This feeling toward telehealth services continues, As soon as these systems are used by them. Percent of individuals who used telehealth services said that it increases their satisfaction with medical care.
For healthcare leaders, implementing telehealth systems is regarded as crucial for suppliers. Fifty-eight percent of healthcare leaders placed a high priority on providing services. 86% of healthcare executives who have not already adopted into their operations say that it is a medium to high priority.
According to Teladoc’s next annual state of customer telehealth benchmark survey, three-quarters of U.S. hospitals either have consumer telehealth services in place or intend to implement the capacity by the end of 2019.
Lastly, as there is a gap between the requirement for services and solutions and the available budget in place, budgets play a key role in the growth of telehealth.
Investments in programs are modest, with the majority of health care organizations surveyed reporting budgets less than $250,000 annually. Typically, budgets are expected to grow next year, with more than half of executives.
Of healthcare leaders who recognize the requirement for services, only 14% said they have those capacities. This gap demonstrates the continuing expansion of telehealth services.