5 Ways: How is Telemedicine Becoming a New Normal in the Healthcare Industry

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5 Ways - How is Telemedicine Becoming a New
Normal in the Healthcare Industry?
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(No Transcript)
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Telemedicine Pre and Post COVID-19

• Although telemedicine was worth 34.2 billion in
  2018 and had already reached 49.89 billion in
  market value in 2019, many experts deemed it just
  as a fad and predicted that it will quickly go
  away after COVID-19 induced lockdown in most
  parts of the world is lifted. They thought
  telemedicine was just a stop-gap solution, but
  the perpetual rise in the adoption of
  telemedicine post-covid-19 represents a different
  picture.

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• Telemedicine has beat every forecast and
  prediction by showcasing the growth that very few
  have replicated in the healthcare industry. Even
  after the resumption of routine in-person doctor
  visits, it is still inevitably growing
  exponentially and becoming a go-to medium to
  access healthcare.

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• A well-developed Telemedicine app enables
  patients to interact with doctors from the
  comfort of their homes, allows them to save time
  and money, and enables doctors to assess
  patients medical records and reports. And
  because these points resonate well with current
  medical needs and trends, telemedicine has
  rapidly become the new normal.
• In this blog, we will try to understand why
  telemedicine is here for the long haul by looking
  at the 5 ways how it is becoming a new normal.
  Lets dissect these above-mentioned topics in
  greater detail and assess them one-by-one.

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1. Overcoming Location Barrier

• Founder of BOD Consulting, Saurabh Uboweja,
  opined that "Post Covid-19, Digital solutions
  that limit people's movement, reduce cost, and
  yet increase productivity, such as video
  conferencing and telemedicine, will become the
  norm."
• It is a boon for people residing in distant,
  hilly, and rural areas. If you ask people
  residing in these areas whether they prefer
  telemedicine or not? The answer would be a
  resounding yes. Because sometimes, the lack of it
  would mean losing crucial access to healthcare.
  Residents of these areas have welcomed
  telemedicine with open hands because it has
  improved accessibility for them and allowed them
  to interact with the doctor virtually.
• These are the benefits of telemedicine in rural
  areas.

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2. Cost-effective solution

• A report from McKinsey International establishes
  the cost-effectiveness of telemedicine as,
  "Telemedicine might be more affordable than
  in-person consultations in trials, it reduced
  consultation costs by about 30."
• It further stated, "If telemedicine replaced
  30-40 of in-person visits, and the overall
  healthcare industry adopts digitization, India
  might save up to 10 billion in 2025."That is a
  huge number, isn't it? Additionally, this is an
  estimation just for one country. Imagine how big
  the savings would be for the healthcare industry
  worldwide.

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3. Increased Time-Saving

• For in-person visits, patients need to make time
  not just for appointments but also for traveling
  to and from the doctors office. Whereas in
  telemedicine, they just need to take time for the
  session only.
• Patients often complain that they spend 5-10
  times more time traveling than meeting with the
  doctor. This is supported by a research paper in
  Health Service Research. It stated, On average,
  doctors spend 17.4 minutes per patient. Now take
  average traveling time into consideration and
  compare it with the time spent with the doctor.
• You will get the idea of why patients complain
  about time-waste during traveling.

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4. Improved Convenience

• The former head of the National
  Telecommunications Information Administration,
  Larry Irving, is of the opinion that the new
  normal will include using technology extensively
  in most facets of life.
• He further adds that It simply isnt realistic
  to believe that now that folks have found out
  they can travel less, commute for fewer hours,
  study or review educational materials on their
  own time and obtain a medical opinion or
  diagnosis without sitting for endless hours in a
  doctors office waiting room that they will
  return willingly to the old normal.

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5. Discreet meeting with doctors

• Telemedicine allows patients to consult with
  doctors from the privacy of their homes. They
  wont have to worry about bumping into their
  relatives or someone they know. Once they are
  connected to the doctor, their meeting will be
  private and discreet.
• Despite offering a discreet meeting with the
  doctor, it doesn't compromise the quality of
  healthcare. In fact, it only enhances the overall
  quality of consultation. It is the closest
  alternative to in-person consultation as it
  allows the doctor to see the visual cues.

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Market Growth

• Almost all the forecasts predict enormous growth
  for upcoming years, making it one of the most
  lucrative fields. Digital Agenda for Europe by
  the European Commission promotes telehealth
  aiming to increase access to quality healthcare.
  It states that the EU digital is growing at 12
  each year. The main elements of the agenda
  include open Internet and reinforced consumer
  rights.
• The report mentions that the costs of health and
  social care will rise significantly to about 9
  of the EUs gross domestic product in 2050.
   Technologies like telemedicine can contribute by
  providing Europe better, cheaper, and higher
  quality services for health. The introduction of
  information and communications technologies and
  telemedicine alone is estimated to improve the
  efficiency of healthcare by 20.
• This is how telemedicine plays a significant role
  in global market growth.

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Conclusion

• Telemedicine is indeed establishing its place as
  a new normal in healthcare because of multifold
  benefits for doctors and patients alike. There
  are some roadblocks like lack of awareness about
  telemedicine, but they are eventually going to be
  eliminated as more and more people are becoming
  familiar with it.
• Do you want to implement telemedicine in your
  clinic? This handy guide gives step-by-step
  information about how to implement telemedicine
  in your hospital or clinic.
• For a sustainable and successful telemedicine
  program deployment, it is essential to consult
  with a domain expert like EMed PharmaTech having
  experience in the healthcare IT field for more
  than 15 years.

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