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Will Telemedicine Be the Next Trendsetter in The Healthcare Sector?

Jan 5, 2018

Telemedicine is the new buzz word in the healthcare sector. But have you ever wondered why all this hype surrounds it? Technology has undoubtedly made humanity crave for more convenience and ease of things at their disposal. The healthcare industry has been increasingly relying on technology to improve the current service levels and incorporate the latest innovation in the field of healthcare into practice. In the earlier days, doctors used to visit patients at their homes and provide the necessary prescription, later this trend disappeared with the establishment of advanced medical facilities and hospitals. However, we are moving back to the era where patients can consult doctors in the comfort of their homes – but now through a digital medium popularly termed as telemedicine. In short, telemedicine is the collaboration of telecommunication and information technology to provide better healthcare services to the patients.

But how far can telemedicine improve clinical workflow, care coordination, and long-term health outcomes? We feel positive about telemedicine transforming the healthcare sector.  Here are a few reasons why.

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Contact our analytics experts to know more about telemedicine and its application in the healthcare sector.

Creating New Business Models to Meet Consumer Demand

Going online is no more a thing limited to the retail industry, this trend is slowly making way for itself even in the healthcare sector. The increasing demand for consumers to go digital and the ease of getting things done is forcing players in the healthcare industry to look at new business models to satisfy these requirements. Telemedicine will prove to be a cost-effective and convenient care model for medical sector players as well. Telemedicine would also help healthcare companies to mitigate long queues and chaos at the hospitals. This business model helps players operating in the medical sector to extend their services online and make healthcare a more convenient and pleasant experience.

Provides Strategic Pricing Options

With several changes expected in the Affordable Care Act or ACA, the number of patients likely to go uninsured are high. Patients will look for ways to manage their healthcare costs efficiently and would expect some support from the healthcare sector. With the help of telemedicine, the companies in the healthcare sector will get the opportunity to offer strategic pricing options to unique patient populations. Healthcare companies can also leverage telemedicine to provide interactive follow-up sessions and post-surgical care. Since the cost incurred by the providers by resorting to telemedicine practices will be much lesser, it is feasible for them to provide services at affordable prices.

Healthcare Providers can be in Line with MACRA Requirements

The MACRA legislation passed in 2016, emphasized on cost-effective protocols and quality metrics in healthcare. MACRA requires healthcare companies to incorporate technological innovation and transparency in complex health records and medical payment systems. Telemedicine can help healthcare providers to have more accurate records of consultations provided and at the same time ensure that they are undertaking technologically advanced practices.  With the increasing competition forcing providers in healthcare to gain better goodwill in the market, technologies such as telemedicine, which would appeal to the public will go a long way.

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