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Powerful Trends in Telemedicine That You Should Revisit

It is true that telemedicine has already evolved as a key component to cut costs and increase patient satisfaction that paves the way for additional revenue. The deployment of telemedicine across a wide range of applications has witnessed a sharp rise, especially in the last decade.

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The adoption of telemedicine across the healthcare industry is influenced by a variety of social, economic and other factors. The rise of home healthcare services and aging population can be cited as a pioneer reason.

Today, a patient is proactive and uses technology to track and know about their vital health information. It gives them the advantage to know the time to look for a medical consultation from a physician.

Personalized experience in healthcare is a key component for elevating the overall experience of a patient. Medical practices and primary care physicians will be looking to capitalize on extending their reach across a larger base of patients and reducing cumulative wait times simultaneously.

We can identify some notable trends across the industry that will be worth a discussion. The continued growth in telemedicine and how it will demystify the delivery model in healthcare is going to be an intriguing affair.

Increase in reimbursements and opportunities in payment

The coverage of telemedicine services is going to expand as both private and government payers will be encouraging its growth. Patients are gaining more experience with technology and there will be a high demand better access to telemedicine services.

The value based case is the need of the hour and substantial health plans have already started to view it as a medium of improving transparency in medical care, improve patient experience and simultaneously reduce costs in the long run.

Reimbursement for long has been a hindrance and new regulations requiring implementation of telemedicine services has already been taken into consideration at numerous State levels. Also, providers are becoming more receptive to look for payments beyond fee for service.

Expansion in International Alliances

The year 2017 will largely see an expansion of US healthcare globally. We will see more ties with overseas healthcare institutions and telemedicine will be a vital medium that will help in the easy rendering of medical services across geographic borders.

At present, there are more than 200 academic centers in the US that are already providing video based services in other parts of the globe. While many of them are still pilot projects, this year will generally see more commercialization and maturity of these international arrangements that will accelerate the use of telemedicine across medical practices.

Rise of ACO’s to cut costs and improve Medical Care

The arrival of Accountable care organizations (ACO) has influenced the rise of Medicare beneficiaries over the years. These organizations are providing a perfect foundation for the growth of telemedicine.

A shared saving form of payments and the incentive schemes of CMS with cost reduction did see only 27% of the ACO’s qualify for it. The genuine need to become eligible for incentives and the lower rate of adoptions will find a greater use of telemedicine services in the coming years.

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