Sep 5, 2014

Guest article by Jeff Sturman, Partner, Cumberland Consulting Group

After much discussion for decades about the potential of telehealth, the trend has finally begun to take hold in the past few years. Technology has advanced such that practicing telehealth not only is a reality, but is quickly on the rise.

In January, a study by IHS Technology stated that the telehealth industry is expected to grow from a $440.6 million business in 2013 to a $4.5 billion business by 2018. In addition, the number of patients using telehealth services will rise to 7 million in 2018, up from 350,000 in 2013.

Earlier this year, Cleveland Clinic announced the launch of telehealth kiosks in nontraditional healthcare settings like universities, employer sites and retail locations. Telehealth is also a growing theme in pediatric hospitals. Miami Children’s Hospital is leading the way in pediatric telemedicine through its state-of-the-art telehealth center and portable workstation equipped with an HD video camera with two-way conferencing capabilities. In addition, vendors are taking note and have made significant investments in software and products for telehealth.

It’s easy to see why this trend is taking hold. As payment models shift from volume- to value-based, healthcare organizations are seeking to decrease expenditures, while increasing the quality of care they provide. Telehealth is an attractive solution that has been shown to effectively decrease readmission rates and increase patient engagement.

Read the full article in September’s issue of CHIME’s CIO Connection.

Filed under: In The News