There are several reports showing that the telemedicine market is growing somewhere between 18-30 percent per year. The rate of growth is in part due to the combination and advancement of technology and communication, which allows medical providers and practices to provide remote healthcare services to more patients. Improved access is one of the top benefits of telemedicine.
Benefits of Telemedicine
According to the American Telemedicine Association, the rapid growth of telemedicine is because of the following benefits:
- Improved Access medical providers and health facilities can reach more patients at a distant location providing better opportunities for improved access to health care.
- Cost Efficiencies telemedicine reduces the cost of healthcare while increasing the frequency of better management of chronic diseases, shared staffing, reduced travel times, and shorter or less frequent hospital stays.
- Improved Quality several studies have shown the quality of healthcare services via telemedicine are as good as those given in traditional in-patient consultations.
- Patient Demand consumers want telemedicine. For many, telemedicine reduces travel time and stress for patients. In addition, patients are expressing their satisfaction with telemedicine and support for services.
How we can help
While we recognize the growth rate and possibilities of telemedicine are exciting, we also understand that providers are responsible for paying attention to regulatory requirements and identifying any potential risks. Over the next few months watch for our Telemedicine series discussing regulatory requirements, and potential risk areas, including HIPAA, HITECH, CMS, and OIG.
If you have any questions please do not hesitate to contact us.