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By Health Capital Consultants, LLC
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The second installment in this five-part Health Capital Topics series on the valuation of telemedicine will focus on the reimbursement environment for telemedicine.
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Telemedicine is reimbursed based on the services provided through this medium and includes many restrictions on where, how, and by whom services can be conducted. The first installment in this series introduced telemedicine and its increasing importance to, and popularity among, providers and patients. It also discussed the current and future challenges related to telemedicine, many of which hinge upon reimbursement restrictions and regulations. (Read more…)
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Filed under: Experts Invited, Funding Basics, iMBA, Inc., Information Technology | Tagged: Medicare Telehealth, Tele-Health, tele-medicine |
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77% of Employers Think Virtual Visits Will Decrease Healthcare Costs
Willis Towers Watson recently released survey results from their ‘2020 Health Care Delivery Survey.’ Here are some key findings from the report:
• 66% of employers cover tele-behavioral health services through their insurance carriers.
• A majority of employers offer telephone (76%) and video-based virtual care visits (72%).
• 3 in 4 employers (77%) think virtual visits will decrease the cost of healthcare.
• 52% of employers think telemedicine will be an important priority post-pandemic.
Source: Willis Towers Watson, October 16, 2020
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Telemedicine Valuation UPDATE
https://www.healthcapital.com/hcc/newsletter/11_20/HTML/TELE/convert_telemedicine_regulatory_11.21.20.php
Dr. David E. Marcinko MBA
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Tele – Medicine is here to stay
As more baby boomers continue to age, the younger generations love to connect virtually. Especially for smaller or more common health problems that can be resolved easily.
The Covid pandemic has accelerated adoption in most countries out of necessity. But, the bi-product of more efficiency and lower costs in certain scenarios have providers taking a hard look at this delivery model.
The real question is which companies and healthcare professionals can work through the regulatory headaches needed to deliver quality outcomes virtually. It seems to also expand hours of service and also expands the reach of any physician in being able to connect anywhere you have reliable internet.
Take a look at the statistics of ‘Teladoc’ stock over the past year, especially around last February or March through today. The markets are speaking for themselves on where they see tele medicine going in the not so distant future!
JOE
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Carbon Foot Print
Scientists discovered that— by turning off your camera during a video conference or telehealth visit— can help cut water, land, and carbon emission impact.
A recent study conducted by Purdue University revealed that 12 liters of water are used and a range of 150 to 1000 grams of carbon dioxide are emitted every 60 minutes of streaming or video.
Ivan
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INTIMACY CAN BE ELECTRONIC
Today’s electronic mediums make possible yet another kind of intimacy. ICTs—information and communication technologies—enable 24/7 monitoring of basic information such as blood pressure, glucose levels, pulse, and respiration. In one study, an ICT not only made it easier for patients to stay in touch with their doctors, the outcomes were also significantly better. Today, Hippocrates is no longer trailing patients around the house to keep track of their snacks and moods. But Hippocrates has gone digital in the form of a wearable device that records subtle changes in biological markers and communicates them instantaneously to a health provider.
While this is obviously a great advance, we suggest you pause for a moment before plugging in. Why? ICTs and social media tools can make a difference to one of the most important dimensions—physiological outcomes. But you can have the latest interactive technology at your disposal and still fail to be connected.
A story that a friend told us shows how. One morning, her elderly father was touching up the paint on his sailboat. Nearby, another boat-owner, who happened to be an emergency medical technician, noticed her father was struggling to breathe and that his lips had turned purple. A trip to the local community hospital led to a barrage of high-tech tests and procedures, a diagnosis of emphysema, later complications with cerebral hematomas, and hospitalizations and re-hospitalizations that brought him into contact with a neurologist, a neurosurgeon, a cardiologist, and a pulmonologist. Throughout her father’s medical ordeal, the team of specialists stayed in touch with each other and the primary care physician via various electronic media. But one person remained out of the loop—her father. One day, six months into the experience, the primary care physician phoned our friend’s mother to check on his patient. Her father recalls thinking, “Why was he calling her?” The physician was communicating, but he was emotionally disconnected.
The moral of the story: communication needs to be patient-centered in both electronic and psychological terms. That means understanding how someone likes to communicate and making sure the medium fits the message. Electronic media are just part of the equation. The other is the doctor-patient relationship. Once a relationship is established, it may be fine to use e-mail to send information about dosage. But delivering a new diagnosis may require the extra effort of scheduling a phone call or a face-to-face visit. Today, since you have so many Health 2.0 choices, it takes some effort to select the right way to communicate in a particular situation.
Dr. David E. Marcinko MBA
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